Ally Forms Pact With Startup Fair to Offer Remarking Solutions, Monthly Subscriptions on Clearlane

Ally Financial Inc. and the monthly used leasing startup Fair have formed a strategic relationship that will allow the bank to provide its dealer partners a new form of financing and gives Fair access to remarketing tools and national scale. Fair offers consumers flexible used-lease vehicle subscriptions that bundles in maintenance and allows consumers to turn […]
  • William Hoffman
  • April 10, 2018
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Fair Wins DEMOvation Challenge at Auto Finance Innovation

SAN FRANCISCO — Used-leasing app Fair took home the top prize at today’s Auto Finance Innovation 2018 DEMOvation challenge, edging out eight other startups. The DEMOvations offer an opportunity for innovative companies to demonstrate their products in front of a wide audience of auto lending and leasing executives. Fair, which launched last September, allows customers […]
  • Natalie Mattila
  • March 9, 2018
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Fair Enters Growth Stage With Hires, Acquisitions

Used-leasing startup Fair is training new employees in Phoenix and acquiring a number of companies to ramp up for nationwide expansion this year, Chief Executive Scott Painter told Auto Finance News. Last week, the company acquired Los Angeles-based car delivery startup Skurt, following an acquisition last month of Uber Technologies Inc.’s Xchange Leasing book; both […]
  • William Hoffman
  • February 13, 2018
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5 Private-Equity Trends to Watch in 2018

In the recovery period following the great recession there was a surge of private-equity investment in the auto finance space, but since then enthusiasm has waned. Several firms are looking for an exit ramp from properties they have sunk billions of dollars into as delinquencies soar. Independent finance companies have been unable to stop delinquencies […]
  • William Hoffman
  • February 1, 2018
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EXCLUSIVE: Fair Finalizes Deal to Buy Uber Xchange Leasing

Uber has finalized a deal to sell its Xchange Leasing subsidiary — including outstanding lease contracts and vehicles — to the startup Fair, the companies announced in a joint press release. As part of the deal, Fair becomes Uber’s exclusive leasing partner for U.S. drivers seeking a vehicle for 30 days or longer. Although Xchange […]
  • William Hoffman
  • January 30, 2018
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AI in Auto Finance Overtakes List of 2017’s Most-Read Mobility Stories

It seems 2017 officially reached the mobility tipping point, where autonomous vehicles, car subscriptions, and mobility services have continually gained momentum. Artificial intelligence got its fair share of interest from the auto finance industry, as many lenders looked to machine learning to bolster credit decisioning, among other use-cases. Meanwhile, Daimler Financial Services and RCI Bank […]
  • Emma Sandler
  • December 28, 2017
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