> Equity dollars are used to recondition and transport your car
Not true! I get charged at the end of my lease for any "wear & tear above normal". Fair allows the customer to pre-pay a monthly surcharge to avoid the lump sum W&T charge at the end. Transport is cheap: I can get the car towed across town for <$100, which is less than 40% of a single monthly payment.
> Since the majority of their customer base churns through the platform with low tenure and is not retained (short term Uber drivers)
How can you possibly know that? Here in NYC driving for Uber is not a short-term thing by any means. TLC licensing cost and the time it takes to obtain this license is sufficient overhead to lock Uber drivers in for a long time in the hope of perhaps one day breaking even. Fair also charges a relatively hefty (I paid ~$2k) lease start fee in order to discourage customers from churning too quickly.
> Your gut is very wrong on this one, sorry.
I encourage you to present information in support of your assertion.
That lease start fee has gone up about 3x, to about 6k, so obviously it was not enough. And at that rate people are better off getting a new car via a typical lease agreement.
Not true! I get charged at the end of my lease for any "wear & tear above normal". Fair allows the customer to pre-pay a monthly surcharge to avoid the lump sum W&T charge at the end. Transport is cheap: I can get the car towed across town for <$100, which is less than 40% of a single monthly payment.
> Since the majority of their customer base churns through the platform with low tenure and is not retained (short term Uber drivers)
How can you possibly know that? Here in NYC driving for Uber is not a short-term thing by any means. TLC licensing cost and the time it takes to obtain this license is sufficient overhead to lock Uber drivers in for a long time in the hope of perhaps one day breaking even. Fair also charges a relatively hefty (I paid ~$2k) lease start fee in order to discourage customers from churning too quickly.
> Your gut is very wrong on this one, sorry.
I encourage you to present information in support of your assertion.