Xchange lease coming to an end

Kodyhead

Well-Known Member
Looks like they are beginning to close up across the states, i assume we are next. Looks like sometime in October.
 

JimKE

Well-Known Member
Damn! Just when my Buick lease is expiring. Time for a Plan B, lol.

I guess they are going to leave existing Exchange Leases in effect tho, right? Otherwise Uber would be out of business in Miami!
 

JimKE

Well-Known Member
I guess only those who are leasing now
It's going to hurt those who are currently leasing from Uber and help those of us who are not.

Exchange leases were "sub-prime," meaning the lessees did not qualify for regular car leases -- usually because of lack of established credit. Without something like Exchange leasing, those folks would not be able to drive, so when Exchange goes away, a LOT of those drivers will go away as well.

Xchange was a shit bag on fire.
Right. Some Uberkid calculated they would lose $500 per lease, which would be just fine with Uber because they'd be making money from all the rides the driver did.

In the real world, however, they were losing an average of $9,000 on every lease!

Shows that the Uberkids aren't any better with math than they are with driver relations...
 

BAKAD

Well-Known Member
Great News..... My major complaint from my regulars is the influx of 3rd world drivers that, just enter the US and get a new car. No knowledge of the area and cannot speak any English.

Getting a new car and making $5 per hour looks great compared to the awful conditions in their countries. But it's taking away business from the existing drivers and making a bad experience for the riders.

I tell the riders you think Uber cares about you??? Then why would they be scraping the bottom of the barrel for the drivers you are not happy with and not trying to keep the good ones who are leaving that you like.

Uber does not care about the driver nor the rider we are all replaceable.

 

Gubber Singh

Well-Known Member
Driving your own car for Uber is a losing proposition. That is why Uber has shutdown its car leasing program. Only the fools like us will continue to drive for Uber and destroy our cars.
 

miamiu

Well-Known Member
If Uber is losing $9000 on every leased car returned.

Isn't it a fair statement that everyone leasing a vehicle has similar deprecation?

Exactly how one rationalized driving a nice vehicle for Uber, lease, purchase. At the end you've got either a penalty on a miles, or a engine, or a trade in value on a 2016 Suburban of $12grand (100k miles) , and you owe $23k. It's inevitable your going to pay. It's a given. Miles aren't free.

In the end Uber is the smart One, everyone on X is the dumb one here
 

rembrandt

Well-Known Member
A lot of Uber lessees were super part timer folks who could not otherwise get a regular dealership lease but did not want to drive for Uber for real. A regular dealership lease requires better credit rating than financing a car.
These folks did the bare minimum Uber rides just to be able to pay the weekly lease payments. Uber can not make money out of minimum rides from these opportunists. For real drivers , Enterprise/ Hertz rentals are better option which also includes insurance coverage , though costly.
 

Kodyhead

Well-Known Member
A lot of Uber lessees were super part timer folks who could not otherwise get a regular dealership lease but did not want to drive for Uber for real. A regular dealership lease requires better credit rating than financing a car.
These folks did the bare minimum Uber rides just to be able to pay the weekly lease payments. Uber can not make money out of minimum rides from these opportunists. For real drivers , Enterprise/ Hertz rentals are better option which also includes insurance coverage , though costly.
Do you need better credit with hertz or enterprise vs xchange?
 
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