U.S. Markets open in 9 hrs 22 mins

Dealer Partnership Offers Free Credit Repair Services to All Uber and Lyft Drivers in New Jersey and Pennsylvania


HyreCar Introduces the First Free Credit Repair Program For Uber and Lyft Drivers in Partnership with a Leading New Jersey Dealer Group Specializing in Rent-to-Own Programs

HyreCar Inc. (HYRE), the carsharing marketplace for ridesharing, today announced that it has launched a free credit repair program for new rideshare drivers in New Jersey and Pennsylvania in conjunction with Sansone Jr.’s 66 Automall, a leading dealer group in the region.

This first of its kind program is being offered as a continuation of HyreCar’s mission to improve the lives of rideshare drivers by giving them a true path to vehicle ownership. In addition to a path to vehicle ownership, rideshare drivers are also given an opportunity to rebuild their credit. This partnership is set to fuel vehicle supply growth on the platform in the regions where the program is offered, with plans to add upward of 100 vehicles by the end of 2018.

HyreCar is proud to be the first Mobility-as-a-Service platform to focus on the long-term needs of dealerships and rideshare drivers. By giving dealers the opportunity to expand innovative solutions to car ownership, such as the “Rent 2 Own” program, rideshare drivers can more easily access affordable vehicle options. Today, HyreCar is the first shared mobility platform to recognize that credit repair services are a necessary part of the path to vehicle ownership for many rideshare drivers.

“This program is groundbreaking in that it shows one of the many ways a dealer can customize HyreCar’s technology platform to grow their existing business, while at the same time learning the Mobility-as-a-Service tools of tomorrow,” said Joe Furnari, Chief Executive Officer of HyreCar. “Further benefits include capturing higher fees, which increases our lifetime value of the customer, helping better the lives of our drivers through car ownership, and enabling dealers to sell more cars.”

“Almost ten years ago, I launched our own 'Rent 2 Own' program for people who needed a vehicle, but were also captured in a prolonged cycle of renting due to poor credit,” said Paul Sansone Jr., President of Sansone Jr.’s 66 Automall. “The emergence and rapid growth of the on-demand employment economy, provided by these ridesharing companies, combined with the innovative HyreCar platform will allow us to scale our 'Rent 2 Own' program tremendously. I look forward to offering our ‘Rent 2 Own’ program along with free credit repair services to all new rideshare drivers in New York, New Jersey, and Pennsylvania.”

Paul Sansone Jr. owns Kia, Nissan and Mitsubishi franchises in Neptune, New Jersey, a used car dealership in Keyport, New Jersey, and recently acquired a Nissan dealership in East Windsor, New Jersey to expand the “Rent 2 Own” program on HyreCar’s platform.

To sign up or learn more about the program, please visit https://hyrecar.com/rto.

About Sansone Jr.’s 66 Automall & Sansone Jr.’s EZ Auto Center

Sansone Jr.’s 66 Automall is located in Neptune, New Jersey, and includes Kia, Nissan and Mitsubishi dealerships. Sansone Jr.’s EZ Auto Center is located in Keyport, New Jersey and specializes in getting used car loans approved in as little as 15 minutes. Sansone Jr.’s “Rent 2 Own” program is available in these locations, plus Windsor Nissan, in East Windsor, New Jersey.

About HyreCar

HyreCar Inc. (HYRE) actively operates in 50 states plus the District of Columbia. The Company’s carsharing marketplace for ridesharing was created to leverage technology and establish a presence in automotive asset sharing. Drivers and vehicle owners alike can utilize the platform to create an opportunity for themselves where one did not previously exist. By providing a safe, secure, and reliable marketplace, HyreCar helps both parties come together– one driver, one vehicle, one road at a time. For more information, please visit www.hyrecar.com.

Forward Looking Statements

Statements in this release concerning HyreCar Inc.’s (“HyreCar” or the “Company”) future expectations and plans, including, without limitation, HyreCar’s partnerships and technology solutions, its ability to add and maintain additional car listings from car dealers and consumer demand for cars to be used for ridesharing, may constitute forward looking statements for the purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995 and other federal securities laws and are subject to substantial risks, uncertainties and assumptions. You should not place reliance on these forward looking statements, which include words such as “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” or similar terms, variations of such terms or the negative of those terms. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee such outcomes. HyreCar may not realize its expectations, and its beliefs may not prove correct. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including, without limitation, market conditions and the factors described in the section entitled “Risk Factors” in HyreCar’s Prospectus, dated June 26, 2018, and HyreCar’s other filings made with the U. S. Securities and Exchange Commission. All such statements speak only as of the date made. Consequently, forward-looking statements should be regarded solely as HyreCar’s current plans, estimates and beliefs. Investors should not place undue reliance on forward-looking statements. HyreCar cannot guarantee future results, events, levels of activity, performance or achievements. HyreCar does not undertake and specifically declines any obligation to update, republish, or revise any forward-looking statements to reflect new information, future events or circumstances or to reflect the occurrences of unanticipated events, except as may be required by applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20181211005317/en/