Uber Gets Run Over by Its Own Subprime Auto Leases
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Uber Gets Run Over by Its Own Subprime Auto Leases
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Re: Uber Gets Run Over by Its Own Subprime Auto Leases
#2The smoke is thick and the flames are really starting to show..
Re: Uber Gets Run Over by Its Own Subprime Auto Leases
#3This article seems to ignore the added revenue from a driver having a car and driving people around for Uber. The better metric is probably the average profitability of a driver with a leased vehicle.
Re: Uber Gets Run Over by Its Own Subprime Auto Leases
#4This article seems to ignore the added revenue from a driver having a car and driving people around for Uber. The better metric is probably the average profitability of a driver with a leased vehicle.
Isn't there some debate as to whether there is profitability though? Or have they definitively made the turn away from investor money subsidizing below cost rides?
Re: Uber Gets Run Over by Its Own Subprime Auto Leases
#5The idea that one could lease a vehicle from Uber, at a significant loss to Uber, then turn around and use that vehicle to drive for Lyft, is absolutely hilarious.
Re: Uber Gets Run Over by Its Own Subprime Auto Leases
#6The idea that one could lease a vehicle from Uber, at a significant loss to Uber, then turn around and use that vehicle to drive for Lyft, is absolutely hilarious.
Well, you have to give the car back (early) to trigger the loss. Or do you mean the driver somehow finding the car on the secondary market afterwards and buying it?
Re: Uber Gets Run Over by Its Own Subprime Auto Leases
#7This article seems to ignore the added revenue from a driver having a car and driving people around for Uber. The better metric is probably the average profitability of a driver with a leased vehicle.
The numbers in the article came from Uber. If there was a better metric they could have used you'd think they would have done.
Re: Uber Gets Run Over by Its Own Subprime Auto Leases
#8The idea that one could lease a vehicle from Uber, at a significant loss to Uber, then turn around and use that vehicle to drive for Lyft, is absolutely hilarious.
Well, you have to give the car back (early) to trigger the loss. Or do you mean the driver somehow finding the car on the secondary market afterwards and buying it?
No you could literally lease it from uber and work 20h a week at uber and 20h a week at lyft in it.
Re: Uber Gets Run Over by Its Own Subprime Auto Leases
#9When I first heard about this program my first thought was "Hahahahaha did nobody at Uber talk to dealership sales department?"
Now my thought is "Hahahaha. I was right."
Uber basically made a subsidiary that specialized in loans that everyone expects to end with the car repo'd and at auction. It's no surprise they got burnt.
Re: Uber Gets Run Over by Its Own Subprime Auto Leases
#10Earlier quoted context omitted.
Well, you have to give the car back (early) to trigger the loss. Or do you mean the driver somehow finding the car on the secondary market afterwards and buying it?
No you could literally lease it from uber and work 20h a week at uber and 20h a week at lyft in it.
Oh. The lease terms are crappy for the buyer as well. So, yes, funny in that Lyft would benefit in that scenario. The driver certainly doesn't though.