Fair Clone App: Entrepreneurs can earn huge profits by dealing in second-hand carsAuthor Business, Fair Clone, Technology
Owning a car is one of the important dreams in every person’s life. The sheer pleasure of driving a comfortable and sleek four-wheeler adds a lot of joy to individuals. However, not everyone can purchase a first-hand car from a branded showroom. Second-hand cars are mostly bought by customers since they are affordable and easy to maintain.
What does the Fair app do?
Fair is one of the well-known Fintech companies based in Santa Monica, California. It offers a digital car shopping experience for millions of customers through its platform.
The Fair online platform takes care of accepting car bookings, processing transactions executed by the users, and also receive monthly installment payments from prospective car owners. It offers personalized discounts and special coupons for the customers based on their interests and likes. On average, the users hold the cars rented from the Fair app for around 12-18 months.
The Fair app acquires used cars from multiple dealers. They choose the best vehicles that have excellent working conditions and high mileage. The Fair online platform checks the license plate and Vehicle Identification Number (VIN) to know the age and repair history of the cars.
Some must-know facts about the resounding success of the Fair platform
Fair partnered with the Uber taxi-booking app as its exclusive auto leasing partner in 2018. The cab drivers on the Uber platform can easily rent a good car from the Fair app.
The Fair app made the headlines in March 2020 after raising a humongous $500 million in equity and more than $1 billion in debt from investors. The funds were used for expanding the dealer network, maintaining the fleet of cars, and software development.
The Fair platform gave stiff competition to other popular car subscription services like Access by BMW, Hertz My Car, and Mercedes-Benz collection. It sold some top-branded cars like the McLaren 570S Coupe and the Nissan Versa Subcompact.
Thousands of new customers booked cars as they felt paying monthly subscriptions for rented vehicles was economical compared to the high-interest rates charged by banks for providing automobile loans.
Leasing out cars is also very costly for users due to the rigid terms and conditions mentioned in the agreements. Heavy penalties are imposed on the customers in case of delay in payment.
Entrepreneurs can witness unlimited growth by commencing Fair Clone App Development/
The global market for used cars is all set to reach a whopping value of $2150.6 billion by 2027 with an impressive annual growth rate of 5.5%. Online platforms like Fair will play a major role in the future since it offers access to a variety of cars just through a single-touch interface for customers.
Entrepreneurs aiming to disrupt the booming leased car market can do it successfully by teaming up with AppDupe for fantastic Fair clone app development. Our well-versed developers create user-friendly Android and iOS apps for the customers, a web panel to accept online car bookings, and a modern admin dashboard to monitor daily business operations.
How does the Fair Clone App function?
- The customers have to register – on the Fair clone app by submitting the required information like their email address, location, name, and phone number.
- Prospective vehicle owners can choose – any of the available cars priced at a certain fee and opt to pay monthly installments.
- The monthly installments cover the major expenses – like maintenance, roadside assistance services, road tax, vehicle registration fees, and warranty for a limited duration.
- Customers who have a poor credit history – and are not well-trained in driving have to pay an extra amount in the form of a refundable security deposit.
- The admin will approve – the user’s car booking after verifying his valid driving license.
- The driver can take – their own insurance policy or pay extra monthly premiums to get insurance from the Fair clone app.
- The interested vehicle owners pay – the one-time startup fee to the Fair clone through credit cards, debit cards, and net banking facilities.
- The admin informs a nearby located car dealer – to hand over the vehicle to the customers after verifying their background and identity.
- The users can return the cars – after 3 days or after driving 100 miles (160.934 km) if they are not satisfied with the quality of the vehicle.
- The Fair clone app refunds – the full amount to the customers.
- The users can also use the car – for several months and years and return it without paying any penalty after giving a 5-day notice in advance.
- The customers are also allowed to – purchase an expensive car in exchange for their old subscribed car.
- The customers can rate the quality of the rented vehicles on a scale of 1-5 in the integrated feedback system.
What is the total cost of Fair Clone App Development?
The budget to establish an app like Fair will depend on the choice of features, the duration of front-end and back-end development, the extent of customization required by the business firm, the hourly rates paid to the developers, multi-platform compatibility (Android, iOS, and Web), the selection of tech stack, third-party API integration, and the total time allotted for development.
Just like how Software-as-a-Service (SaaS) transformed the entire world of information technology, the Fair platform promoted the concept of Cars-as-a-Service through its successful monthly subscription model. It has increased the transparency for customers as they can know the exact vehicle price beforehand ahead of renting it.
Hence, ambitious entrepreneurs can lead the global pre-owned cars industry quickly by partnering with AppDupe for fabulous Fair clone app development.
Offer the viable alternative of affordable used cars to customers with the creation of a Fair Clone App
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