“We realized the [weekly payment] is the type of cadence the rideshare driver operates,” Wilkison said. “Rideshare drivers get their payouts on a weekly basis, so we decided to follow.” Fair will bundle unlimited mileage, insurance, a limited warranty, roadside assistance, and routine maintenance for $185 a week.
Fair launched the pilot of the “all-in weekly payment” in California in January and plans to roll out the program in the next three months to nine major metropolitan areas, Wilkison said. “The near-term goal will effectively have us in 10 different states with this new rideshare offering,” he said. Fair will continue to expand the program to major markets in the months following. The startup has 30,000 subscribers in 21 states.
The weekly payment bundle comes with incentives for Uber drivers, including no down payment or startup fee. Uber drivers would be reimbursed their weekly fee if they complete at least 70 trips per week. That incentive would bump up to $305 per week for drivers who complete 120 trips. The number of trips and reimbursement amount will vary by market.