Tesla Reorganizes Leadership as Executives Leave to Join Startups

Tesla Inc. is embarking on a “thorough reorganization” of its executive team, following several departures including the electric-vehicle manufacturer’s Vice President of Finance Susan Repo, and long-time executive Diarmuid O’Connell joining used-leasing app Fair. Repo left the OEM in March after heading up the company’s structured finance department and leasing program, according to her LinkedIn. O’Connell joined […]
  • Emma Sandler
  • May 15, 2018
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Fair Seeks to Learn From Rivals in Subscription Space

Despite the influx of car manufacturers and startups into the vehicle subscription market, used-car lessor Fair welcomes the competition, Founder Scott Painter told Auto Finance News. “We’re eager to see others in the space because, frankly, we don’t want to make all the mistakes,” Painter said. “There’s going to be a lot of trial and […]
  • William Hoffman
  • April 25, 2018
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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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