Uber’s Xchange Leasing program, which allowed Uber drivers to lease new cars that they could pay off by picking up passengers, was heavily criticized for charging lease rates far in excess of what drivers could get elsewhere, but it wasn’t until Uber realized it was losing boatloads of money on the program that it was in jeopardy — and now it’s being put to bed forever. [More]
Xchange Leasing
5 Things You Should Know About Uber’s Xchange Leasing Program & Its Costs
By 5.31.16
Last summer, Uber launched a car leasing program that aimed to remedy the one big obstacle for anyone who wanted to sign up as a driver and hit the road — if you don’t have a car, you’ve got nowhere to put passengers. Nearly a year after Xchange Leasing began connecting would-be drivers with new vehicles, experts say the program may not be all it’s cracked up to be for already financially vulnerable drivers. [More]
Uber Launches Car Leasing Program To Attract More Drivers
By 7.30.15
There’s one big obstacle for anyone who wants to sign up as an Uber driver and hit the road — if you don’t have a car, you’ve got nowhere to put any passengers. Uber wants to make it easier to attract potential drivers, launching its own auto leasing subsidiary unit that will bring the ride-hailing company into the financial services industry. [More]
