Uber is not responsible for the products or services offered by third parties. Drivers renting with a vehicle partner qualify for weekly opportunities to earn on top of normal fares, but they won't be able to participate in other promotional offers, including Boost and Quest.
As Uber continues to evolve beyond just dominating on-demand rides, the company is furthering its bets on leasing cars to drivers. Uber announced today a new pilot program, called Xchange Leasing, allowing Uber to directly lease cars to its UberX drivers. UberX is the ride-sharing company’s cheapest ride service.
Uber's lease is more flexible than most subprime leases, the company said. After the first 30 days of the lease, a driver can return the car to Uber with two weeks notice, without any additional fees, apart from the payments they owe and the $250 they paid up front.
Uber is taking another spin with car leasing. The popular ride-hailing startup began helping its drivers with vehicle financing in late 2013, but the effort quickly drew criticism over high interest rates and rigid lease structures. Uber also cut fares, which meant many drivers had to work longer hours to cover their car payments.
Uber Car – Lease to own . A Lease-to-own car, is a vehicle that is offered under a specific agreement: you would pay for the vehicle as you would as if you were renting the vehicle, but instead of turning the vehicle in after you finished your driving term, you would own that vehicle after the payments were completed.
#2. Returning The Car — After 30 days, an Uber driver taking part in the leasing program can return the vehicle to Uber with two weeks notice. The return doesn’t incur an additional fee but the driver is on the hook for the remaining payments.
The Uber lease program is essentially for nearly unlimited mileage and in point of fact is encouraging high mileage since you’re supposed to be driving the car, a lot. You lose the benefit of having the end-value of the car be reasonably close to the initial value of the car, and that’s reflected in the pricing.