LendingTree Taps Fair as First Flexible Used Car Lease Option in Online Marketplace

Rhea-AI Summary

Fair has partnered with LendingTree to become the first used car leasing alternative on the platform, enhancing its market presence. Customers can receive personalized lease options ranging from month-to-month to 3-year plans, simplifying the leasing process without the need for dealer negotiation. Fair offers routine maintenance, roadside assistance, and limited warranties with each vehicle. The partnership aims to improve access to mobility for consumers seeking flexible and affordable car leasing solutions.

Positive

• Partnership with LendingTree enhances Fair's market presence.
• Customers can obtain flexible leasing options (month-to-month, 2-year, or 3-year).
• Streamlined process eliminates dealer negotiation and physical paperwork.
• Includes maintenance, roadside assistance, and limited warranties with leases.

Negative

• None.

SANTA MONICA, Calif., Jan. 13, 2021 /PRNewswire/ -- Used car leasing platform Fair today announced that it will become the first used car leasing alternative offered on LendingTree, the world's largest online lending marketplace.

"This partnership is a clear acknowledgment of Fair's market leadership as a simple, affordable and flexible alternative to traditional auto financing options," said Fair CEO Bradley Stewart. "For the first time, Fair customers will be able to use LendingTree's expansive platform to connect with Fair to lease a used car from right where they are and for as long as they choose, representing a true watershed moment in Fair's adoption potential."

Through the partnership, visitors to LendingTree can be instantly pre-qualified for a personalized monthly payment for either a month-to-month, 2-year or 3-year Fair lease. They would then receive a link to check out with the Fair app. Visitors will also be able to shop other local inventory available on Fair, select the vehicle they want, sign for it on the web or Fair app, and drive it for the length they choose – all without any dealer negotiation or physical paperwork. In addition, every Fair car comes with routine maintenance, roadside assistance and a limited warranty that last as long as they keep the car.

"LendingTree shares Fair's commitment to improving access to mobility for the millions of consumers who rely on us for straightforward and affordable financing solutions," said Mike Funderburk, LendingTree's Auto Loans General Manager. "Together we can leverage our mutual synergies and unique digital platforms to forge a new era for today's auto shoppers."

About Fair 
Fair offers a new way to get an affordable pre-owned car in response to consumer demand for more freedom. Fair gives customers the flexibility to choose how long they drive, whether it's 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 LendingTree
LendingTree (NASDAQ: TREE) is the nation's leading online marketplace that connects consumers with the choices they need to be confident in their financial decisions. LendingTree empowers consumers to shop for financial services the same way they would shop for airline tickets or hotel stays, comparing multiple offers from a nationwide network of over 500 partners in one simple search, and can choose the option that best fits their financial needs. Services include mortgage loans, mortgage refinances, auto loans, personal loans, business loans, student loans, insurance, credit cards and more. Through the My LendingTree platform, consumers receive free credit scores, credit monitoring and recommendations to improve credit health. My LendingTree proactively compares consumers' credit accounts against offers on our network and notifies consumers when there is an opportunity to save money. In short, LendingTree's purpose is to help simplify financial decisions for life's meaningful moments through choice, education and support. LendingTree, LLC is a subsidiary of LendingTree, Inc. For more information, go to www.lendingtree.com, dial 800-555-TREE, like our Facebook page and/or follow us on Twitter @LendingTree.

 

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SOURCE Fair

FAQ

What does the partnership between Fair and LendingTree entail?

The partnership allows Fair to offer used car leasing options directly through LendingTree, providing customers with flexible leasing terms and a simplified process.

How does the Fair leasing process work on LendingTree?

Customers can get pre-qualified for personalized lease payments, select a vehicle, and complete the leasing process all online, without dealer negotiations.

What types of leases are available through Fair on LendingTree?

Fair offers month-to-month, 2-year, and 3-year lease options for used cars.

What benefits come with leasing a car through Fair?

Each lease includes routine maintenance, roadside assistance, and a limited warranty.

How might this partnership impact stock symbol TREE?

The partnership could enhance LendingTree's service offerings, potentially boosting customer engagement and revenue.