A liquidity crisis? You won’t find that in the pre-owned car market.
“There’s 40 million used cars sold annually in the United States, 150 million globally,” said Scott Painter, chief executive officer of Fair.
“There’s no liquidity crisis in the used-car market,” Painter said. “The lifeblood of the modern car dealership is the opportunity to buy or trade and sell a used car.”
Fair, a mobile-based platform that offers flexible used-car leasing to consumers through dealerships, it was founded by Painter and Georg Bauer, who is the company’s president.
Bauer and Painter sat down for a podcast Auto Remarketing senior editor Joe Overby in Las Vegas last month at the J.D. Power Automotive Summit leading into NADA Show 2018. Their wide-ranging conversation can be found below.