A start-up company called Fair has agreed to buy the Ford Canvas vehicle subscription service at an undisclosed price. The announcement of the deal came yesterday, and neither company is offering details on what the purchase cost Fair. Ford and Fair say that the acquisition of the Canvas vehicle subscription service will further Fair’s leadership position in the vehicle subscription category.
Fair is an app-based vehicle subscription model that launched in August of 2017. The idea behind Fair was to put the end-to-end process of getting a car on a smartphone. Users can show pre-owned cars by all-in monthly payments that are affordable and sign with their finger and then drive it as long as they want.
Georg Bauer, co-founder, and chairman of Fair says that the Ford Canvas vehicle subscription service opened new ways for consumers to gain access to mobility. The acquisition underscores Fair’s intent to provide consumers with the car they want on their terms according to Bauer.
Canvas launched in 2017 in a limited area and provided vehicles to about 3,800 subscribers in San Francisco, LA, and Dallas. Canvas subscribers will get the chance to join Fair at the end of their current vehicle subscription. Fair and Canvas promise that more details will be provided to Canvas subscribers soon. Fair currently has 45,000 subscriptions and is live in 30 markets and is continuing to expand nationally. Canvas was looking to expand last year.
Canvas subscriptions started at $400 monthly with 24/7 access to a vehicle like it was the user’s own, and includes a mileage package, insurance, warranty, maintenance, and roadside assistance. Subscribers could turn in their vehicle with a seven-day notice.