Fair gives the dealership that originated the transaction an opportunity to buy the vehicle after a customer turns it in, but if the dealer chooses not to purchase the vehicle, Fair will make it available to other dealerships via SmartAuction, beginning this month.
SmartAuction, Ally's online used-vehicle auction platform, has a daily inventory of more than 25,000 vehicles available for dealerships of all brands, the statement said.
The SmartAuction tie-up aligns with Fair's strategy, Painter said, because "we do not hold inventory. Our cars are either generating revenue or they're on their way to sale."
Fair's relationship with Ally is the latest alliance in a string of partnerships for the startup over the past few months.
In February, Fair acquired certain assets of Skurt, a vehicle-delivery app, in an effort to begin to quickly scale a cost-effective platform for vehicle delivery, pickup and fleet management, the statement said. And in January, it launched a partnership with Uber that provides Uber drivers access to vehicles through Fair. The company also acquired the lease portfolio of Uber subsidiary Xchange Leasing.