RouteOne integration offers Fair subscriptions to dealers
U.S.-based used-vehicle subscription provider Fair has announced an integration with RouteOne, which will help dealers offer subscriptions to their vehicles.
Fair offers monthly subscriptions to used vehicles – in an all-in, short-commitment model it calls Cars-as-a-Services (CaaS).
The company has had an expansion-focused September: the company secured $500 million in revolving credit in order to scale up its partnership with Uber, and it acquired Canvas, the used-vehicle subscription service launched by Ford Motor Credit some time ago.
The trend continues in October. Fair’s integration with RouteOne – a dealership favourite for managing vehicle sales and financing – will extend its network to thousands of dealer partners throughout the entire U.S.
For Fair, the expansion chimes with its mission to make life easier for consumers who lack the credit for conventional auto financing – or who don’t want to commit to a multi-year financing loan. What Fair hopes will drive the expansion: that growing network of dealer partners now has an additional channel to generate revenue off its used-vehicle inventory.
“We see this integration with RouteOne as a win-win, as we bring the vehicle subscription model to consumers and dealers alike,” says Georg Bauer, co-founder and chairman of Fair.
For dealers RouteOne offers a credit application platform that connects customers with financing sources. The integration means that Fair is now added as one of the financing sources, even if the access it provides to vehicles is in the form of a subscription rather than an acquisition or a lease.