• Stop being a LURKER - join our dealer community and get involved. Sign up and start a conversation.

Any Dealerships Using Fair.com? Reviews & Ratings

Salete

Rust & Dust
Feb 28, 2015
29
6
Awards
1
First Name
Salete
Thinking of joining them as they begin to roll out into Nor-cal soon..

Millennial target audience. ( initially )

No terms in regards to " Lease" for consumer

Opportunity for us to have a second chance at car when / if they bring car back ( can do so after 4 days, or Keep for as long as they want )

No advertising fee / Front all ours ( car must fit pricing model to be listed )

No back end, but they give a 500.00 " spiff " for every deal.

Thoughts?
 
Fair.com has an interesting business model and think Mr. Painter's track record of success will follow.

One of my concerns for Fair.com is the holding of actual assets, diminishing ones. It will come down to how well they can move inventory when needed.
True.
The cars that can be listed HAVE to be at a certain price point. So I am assuming that the predictive pricing they are using is factored in.
The Tesla lane here Locally is off the Charts HIGH$ I envision a Fair lane ..
 
Just had a Fair.com rep visit one of our stores yesterday. For the dealership, this is a very interesting approach to sell cars. Is there anyone on here using this program at their dealership? Are there any hidden issues that you can maybe shed some light on if your dealership is using Fair?? I would love to hear your feedback about the Fair program!!!

Please share!
 
Thanks @Alexander Lau. I'll post here! This is what was presented to me yesterday. Fair is a licensed Dealer now in the State of TN. They are needing to purchase pre-owned cars from dealers. They are requesting my inventory feed. Once they have the feed, They will identify vehicles they are interested in purchasing from the dealership that meet their requirements. Once those vehicles have been identified by the dealership and Fair (those details are still a little fuzzy) for a fair price, that vehicle will show in the Fair app. The customer only see's a payment. Never the price of the cars. If the customer wants one of my vehicles that shows in the app and it gets selected via the customer, a notification is sent to the dealership. The customer works with Fair concierge person at their HQ to set up an appt for delivery. Fair buys / purchases the car from the dealership (Cash deal. No backend) for the price that was set in the Fair backend dashboard. The price isn't full retail and it's not wholesale. It's somewhere in the middle. The vehicle is on a first come, first serve basis. Meaning, if you have an appt on that car from other advertising at 10am and a Fair appt at 2pm and the 10am appt buys it. The Fair customer is out. The concierge explains this to the Fair customer (Thats what I'm told)! If after 2 or 3 months and the Fair customer is done with the vehicle, they can return the vehicle to our facility. We are given the opportunity to purchase the vehicle from Fair. If we don't want the vehicle, the come and pick up the vehicle and take it to the auction within 5 days of it being returned. Since we (the dealership) are selling the vehicle to another dealer (Fair), all of the paperwork and funding is minimized. From what I'm told, the main thing that is asked of the dealership is an excellent delivery process.

Thoughts????

Is there there anyone on here using the program? Is there any downside / issues you've experienced??
 
Thanks @Alexander Lau. I'll post here! This is what was presented to me yesterday. Fair is a licensed Dealer now in the State of TN. They are needing to purchase pre-owned cars from dealers. They are requesting my inventory feed. Once they have the feed, They will identify vehicles they are interested in purchasing from the dealership that meet their requirements. Once those vehicles have been identified by the dealership and Fair (those details are still a little fuzzy) for a fair price, that vehicle will show in the Fair app. The customer only see's a payment. Never the price of the cars. If the customer wants one of my vehicles that shows in the app and it gets selected via the customer, a notification is sent to the dealership. The customer works with Fair concierge person at their HQ to set up an appt for delivery. Fair buys / purchases the car from the dealership (Cash deal. No backend) for the price that was set in the Fair backend dashboard. The price isn't full retail and it's not wholesale. It's somewhere in the middle. The vehicle is on a first come, first serve basis. Meaning, if you have an appt on that car from other advertising at 10am and a Fair appt at 2pm and the 10am appt buys it. The Fair customer is out. The concierge explains this to the Fair customer (Thats what I'm told)! If after 2 or 3 months and the Fair customer is done with the vehicle, they can return the vehicle to our facility. We are given the opportunity to purchase the vehicle from Fair. If we don't want the vehicle, the come and pick up the vehicle and take it to the auction within 5 days of it being returned. Since we (the dealership) are selling the vehicle to another dealer (Fair), all of the paperwork and funding is minimized. From what I'm told, the main thing that is asked of the dealership is an excellent delivery process.

Thoughts????

Is there there anyone on here using the program? Is there any downside / issues you've experienced??

No backend is a bad deal. We work too hard to source & acquire vehicles. Now we're going to do that for another company to sell vehicles at a minimal frontend profit? That's ludicrous. They aren't adding more buyers to the market, just diverting the flow of buyers into their app. I think it's like the Truecar model but they're handling the deal like a bank and giving the customer a check to buy the car. How many dealer's would take that model? I don't know maybe I'm not getting it.
 
  • Like
Reactions: James Bolen