Tuesday, September 18, 2018
Fair Launches New Adjustable Payments For Cars
Los Angeles-based Fair--a technology-enabled startup which lets people get access to a car with none of the traditional limitations and handcuffs of a lease--is making it even easier for people to get a car through its service, saying it has started to let drivers choose how much they want to spend each month for a vehicle. According to Fair, it has now started letting its car shoppers adjust the start fee and monthly payments on a car, to better fit their budgets. Fair is offering up vehicles on subscription, with no long term contracts or loans. According to Fair, the new ability to adjust payments will help accommodate different drivers, some who want the lowest possible start payment to get into a car, while others prefer to pay more upfront and lower their monthly rate. Fair is unlike leases, in that users can turn in a car whenever they want, with no termination penalty; the company says cars start at just under $190 a month. Fair is the latest venture of Scott Painter, the serial entrepreneur behind TrueCar. The company is venture backed by Javelin Venture Partners, Charles River Ventures, Foundation Capital, Sherpa Capital, Moonshots Capital, and others.