Thursday, September 12, 2019

Fair Acquires Canvas From Ford

Santa Monica-based Fair, which offers up very flexible, subscription-based leases on used cars, has acquired the Canvas subscription car service, which was owned by Ford Motor Credit. Financial terms of the acquisition were not announced. According to Ford, existing customers of Canvas will be given an option to join Fair's service at the ends of their current vehicle subscription term. Fair's service--unlike a traditional lease--lets users rent vehicles on a monthly basis. Canvas currently offers up its services in San Francisco, Los Angeles, and Dallas, and launched back in 2017.