Integration to Extend Vehicle Subscriptions to Thousands of Auto Dealers Throughout the U.S., Generating New Financing Opportunities to Move Inventory
Vehicle subscription app Fair recently announced an integration with RouteOne, one of the automotive industry’s leading platforms for dealerships to manage vehicle sales and auto financing. The integration will extend the vehicle subscription app’s network to thousands of dealer partners throughout the U.S., giving dealers an additional channel to generate more sales from their pre-owned vehicle inventory.
Through this integration, Fair will open up more options for consumers who might not normally qualify for conventional auto financing, while also creating more revenue opportunities for its growing network of dealer partners. Fair is an app that shifts how customers get access to mobility, with all-in monthly payments and none of the long-term commitment, negotiation or physical paperwork. Users can shop for a car based on monthly payments they can afford, sign for the one they want with their finger, and drive it for as long as they want.
“Fair continues to propel the car-as-a-service model forward by providing consumers with access to the car they want on their own terms,” said Georg Bauer, co-founder and chairman of Fair. “By integrating with RouteOne, more dealers will be able to extend subscriptions to their customers to get them into their preferred car. We see this new integration with RouteOne as a win-win, as we bring the vehicle subscription model to consumers and dealers alike.”
RouteOne provides a credit application platform that dealers use to connect car-buying customers with sources for vehicle financing. After transmitting a customer’s credit application to the dealer’s selected finance source, RouteOne displays the credit decision, approval amount and financing terms to the dealer. Dealers are then able to choose the best financing option for the customer. With Fair as an available finance source, dealers can offer their customers an alternative to traditional financing options to help them get access to a car.
“RouteOne is excited to launch this new integration with Fair and continue to provide our dealers with access to innovative ways to do business,” said Jeff Belanger, senior vice president of business development at RouteOne.
“This agreement helps auto dealers serve more customers by providing diverse finance opportunities,” said Doug Timmerman, president of Ally Financial, an auto finance company that works with more than 18,000 dealers nationwide and is an investor in both RouteOne and Fair. “The flexible, digital solution they have developed supports both consumers and dealers, and offers a unique alternative to consumers.”
“This integration with RouteOne will allow dealers to greatly expand the number of customers they can work with from a financing perspective,” said Mario Murgado Jr., General Manager of Brickell Mazdain Miami. “Whether a customer doesn’t want to commit to a multi-year auto loan or doesn’t have the kind of well-established credit history to qualify for traditional financing, Fair is giving us a previously unavailable ability to serve customers who might have fallen out of the process in the past.”