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Fair Acquires Canvas from Ford Credit

Auto News - Published on Tue, 17 Sep 2019

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Vehicle subscription app Fair announced that it will acquire the assets of Canvas, a vehicle subscription service and wholly owned subsidiary of Ford Motor Credit Company. The agreement furthers Fair’s leadership position in the vehicle subscription category, enabling the company to continue to accelerate consumer adoption and expansion throughout the United States. Terms of the sale are private. Fair is an app-based vehicle subscription model that went live in August 2017 that puts the end-to-end process of getting a car on a customer’s phone. Users can shop pre-owned cars by all-in monthly payments they can afford, sign for the one they want with their finger, and drive it for as long as they’d like.

Mr Georg Bauer, co-founder and chairman of Fair said that “Canvas has built innovative subscription products that are relevant to consumers today, and like Fair, has opened up new ways for consumers to gain access to mobility. This acquisition underscores our shared commitment to providing consumers with the car they want on their own terms.”

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Posted By : Mohan Sharma on Tue, 17 Sep 2019
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