Fair Bolsters Used Car Platform With 2-Year, 3-Year Leases

Customers Can Drive a Pre-Owned Car Month-to-Month - or Longer for a Lower Payment

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Sep 17, 2020, 09:00 ET

SANTA MONICA, Calif., Sept. 17, 2020 /PRNewswire/ -- Used car leasing platform Fair today announced it is offering 2-year and 3-year leases to complement its month-to-month option, creating a suite of affordable mobility options for drivers, regardless of their flexibility needs.

The two new lease options apply to all Fair cars and will offer monthly savings to customers who want to keep their Fair car longer. Compared to Fair's month-to-month product, a customer will save $40 per month on a 2-year Fair lease, and $70 per month on a 3-year lease, on average.

With the launch of the program, Fair becomes the only at-scale vehicle platform offering pre-owned leases – a cost-effective and accessible alternative to new car leases, which are generally more expensive.

"These tailored lease options will make a car more accessible to more people and give our customers an even greater ability to create a personal driving experience that suits their circumstances and lifestyle," said Fair CEO Brad Stewart. "We're excited to offer a new way for customers to get an affordable used car – from right where they are and for only as long as they want to keep it."

Fair allows users to shop affordable pre-owned cars on their phones or via the internet, get approved in-app, sign for the vehicle they want with their finger, and drive it for as long as they choose. The platform aims to leverage the overwhelming popularity of used vehicles, which represented more than twice the number of new cars sold last year.

"Used cars have never been more popular or reliable, delivering clear value to consumers while living up to today's 'reduce and re-use' ethos," said Fair's Global Head of Brand Ed Brojerdi. "Now our customers can enjoy the countless benefits of driving a pre-owned car with new levels of optionality and affordability."

About Fair
Fair is a digital used car leasing platform, offering a new way to get an affordable pre-owned car that responds to consumer demand for more freedom. Fair lets you lease a used car via app or the web and keep it as long you choose, whether you want the flexibility of driving month-to-month, or the value of a 2-year or 3-year lease. Choose your car, miles, and view your payments – all in a paperless and negotiation-free digital experience that's simple, flexible and affordable. Fair is headquartered in Santa Monica, Calif. For more information, please visit www.fair.com and follow us at @fairtheapp.

SOURCE Fair