Fair Launches Pilot Program to Offer Flexible Lease Options on Certified Pre-Owned Vehicles at Select Honda and Acura Dealers

MIAMI, Oct. 28, 2020 /PRNewswire/ -- Used car leasing platform Fair today announced a pilot program that enables customers to select a Certified Pre-Owned (CPO) Honda or Acura vehicle from a participating dealer, order and sign for it digitally, and then leverage flexible lease options to drive that vehicle with a lease term of their choice.

Fair's new six-month pilot program with American Honda Motor Co., Inc. marks the first time the platform is making CPO vehicles available to customers, including the ability to access Fair-eligible vehicles directly from the digital platform of an individual automaker. Launching at 13 Honda and Acura dealerships in South Florida, customers who participate in the Fair program can select their vehicle directly through the Honda or Acura Certified Pre-Owned vehicle websites (HondaCertified.com, AcuraCertified.com). Once selected, customers can lease their Honda or Acura CPO vehicle through Fair on either a month-to-month basis, or for a longer-term lease with a lower monthly payment.

Fair enables customers participating in the new program with American Honda to complete their transaction entirely on the Fair app - with no negotiation, loan or physical paperwork. Once approved, the customer simply signs the vehicle lease contract with their finger, picks up their CPO vehicle at a specified Honda or Acura dealership (or has it delivered for free), and drives their vehicle for the length of their selected lease term. All Fair vehicles come with routine maintenance, roadside assistance and a limited warranty that lasts as long as they keep the car.

"Launching this new pilot program is an exciting expansion for Fair with the addition of Honda and Acura Certified Pre-Owned vehicles, known for their standard of quality and reliability, as an option for our customers," said Brad Stewart, Fair CEO. "This new program also provides a seamless channel between one of the world's great automakers and a discerning, yet loyal base of young customers and first-time customers, who are looking for access to a vehicle the same way they access the other services in their life: available on demand, and for the amount of time they want or need that vehicle."

Through this pilot program, American Honda will assess consumer interest in leasing high-quality Certified Pre-Owned vehicles on flexible terms and bundled with warranty and maintenance protection.

About Honda and Acura Certified Pre-Owned

American Honda's award-winning Certified Pre-Owned vehicle programs serve as a critical gateway for new customers to the Honda and Acura brands, offering affordable, reliable and well-equipped vehicles with extended warranties and high resale values. With every American Honda CPO vehicle, the customer is delivered an industry-exclusive digital checklist that enables dealers to provide customers with transparency and peace-of-mind in their purchase of Certified Pre-Owned vehicles.

About Fair

Fair offers a new way to get an affordable pre-owned car in response to consumer demand for more freedom. Fair gives you the flexibility to choose how long you drive, whether month-to-month, or on a 2-year or 3-year lease for an even lower monthly payment. Fair allows you to choose your car, miles, and view your payments - all in a mobile and paperless end-to-end web or app experience that's simple, flexible and affordable. Fair is headquartered in Santa Monica, Calif. For more information, please visit www.fair.com and follow us at @fairtheapp.

About Honda

Honda offers a full line of clean, safe, fun and connected vehicles sold through more than 1,000 independent U.S. Honda dealers. Honda has the highest fleet average fuel economy and lowest CO2 emissions of any major full-line automaker in America, according to the latest data from the U.S. Environmental Protection Agency (EPA). The Honda lineup includes the Fit, Civic, Insight Accord and Clarity series passenger cars, along with the HR-V, CR-V, Passport and Pilot sport utility vehicles, the Ridgeline pickup and the Odyssey minivan. Honda's electrified vehicle lineup includes the Accord Hybrid, CR-V Hybrid, Insight hybrid-electric sedan, and the Clarity Fuel Cell and Clarity Plug-In Hybrid.

Honda has been producing automobiles in America for 38 years and currently operates 19 major manufacturing facilities in North America. In 2019, more than 90 percent of all Honda vehicles sold in the U.S. were made in North America, using domestic and globally sourced parts.

About Acura

Acura is a leading automotive nameplate that delivers Precision Crafted Performance - a commitment to expressive styling, high performance and innovative engineering, all built on a foundation of quality and reliability. The Acura lineup features five distinctive models - the ILX and TLX sport sedans, the RDX and MDX sport-utility vehicles and the next-generation, electrified NSX supercar. All 2021 model Acura vehicles sold in North America are made in the U.S., using domestic and globally sourced parts.

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