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Ford offering short-term consumer auto leases through Canvas

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Ford offering short-term consumer auto leases through Canvas

Silicon Valley's latest mobility startup, a short-term vehicle leasing company called Canvas, is backed by old-school muscle: Ford Motor Credit Co, the dealer and consumer financing arm of U.S. automaker Ford Motor Co. From its San Francisco base, Canvas started offering variable-term leases with flexible payment options to Bay area customers in early May, with plans to eventually roll out the service to other cities. "Our mission is to identify, test and launch financial products that meet the changing needs of consumers," said Ned Ryan, co-founder of Breeze and chief executive officer of Canvas, in an interview.

[Reuters]

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