September 5, 2018 - LOS ANGELES - Fair, the car company for people who want to avoid loans and long-term contracts when shopping for a car, reported 40 percent month-over-month customer growth for the last two quarters today. The company also reported having over two percent of the total addressable market in its initial launch city of Los Angeles.
Fair attributes its growing momentum to consumer behaviors shifting away from long-term commitment and the debt associated with car loans, among other factors.
“We’re going through fast geographic expansion,” said Scott Painter, Fair founder and CEO. “The United States has the largest used vehicle market with 40 million cars, and that’s a massive opportunity for us. We’re seeing the viral coefficient kick in as markets mature to our model and become more predictable, but our growth is also fueled by our partnership with Uber, which has really started to bear fruit as we deeply integrate and push volume that expands Uber’s own driver community.”
With 1,700 dealer partners nationwide, Fair has been able to accelerate its expansion into key U.S. markets and offer consumers over 40 brands of cars, trucks and SUVs, including eco-friendly and luxury models, starting under $190 per month.
With Fair, you sign for a car on your phone, drive it as long you want, and turn it in when you want with no termination penalty. Customers can drive the vehicle of their choice for a monthly fee and without a long-term contract.
Fair provides 24/7 roadside assistance, a limited warranty, and routine maintenance, which means oil and filter changes, tire rotations and multi-point inspections are all covered. Fair also covers title and registration. For an additional fee, customers can add Fair insurance to keep car-related expenses in one, simple place.
For more information or to shop cars, download the app from the App Store or Play Store, or visit www.fair.com. For $250 off your start payment on a Fair car, use the code DRIVEFAIR until September 30, 2018 (not valid for Fair Rideshare program vehicles).
Fair is the car company for people who want to avoid loans and long-term contracts when shopping for a car. The company launched in 2017 and is headquartered in Santa Monica, Calif.