Back in the Dark Ages of the auto business, if a consumer wanted a new car, they bought it. The consumer might pay cash or finance the purchase with a car loan, but that was how you obtained a vehicle. You might rent a car when you were on vacation or business, but otherwise, a vehicle purchase was the thing to do.
Decades after that came vehicle leasing. With vehicle leasing, you don’t buy the whole car; you buy the use of the car for a specified period of time. But while you don’t own your leased car, you are still subjected to the sometimes irritating aspects of car ownership. For example, you have to pay for registration, insurance, maintenance, and repairs. And you are typically locked into your lease for a minimum of two years and most often three years or longer.
The Fair car subscription service puts a whole new spin on car ownership, but at this time, it's only available in Los Angeles. Read on to learn about the Fair program.