You are using an older browser version. Please use a supported version for the best MSN experience.

Uber Launches New Car Leasing Service

Motor Trend logo Motor Trend 7/31/2015 Kelly Pleskot
Uber X driver© Provided by MotorTrend Uber X driver

Despite all the legal pressures the company is facing, Uber has some good news to celebrate this week. The company announced it has launched a flexible leasing service for its drivers who need a car.

Research

Through the "Xchange Leasing" program, UberX drivers can lease a new or used car for three years without enduring many of the hassles of a traditional lease. The cars come with unlimited mileage and complementary maintenance, and the chance to opt out after just 30 days with a small fee. Once drivers send in an application to the program, Uber sends them to participating dealerships to shop for a vehicle.

The program isn't Uber's first crack at the car leasing business. Uber previously ran a program with the help of Banco Santander's U.S. lending unit in a partnership that ended unceremoniously earlier this year. Uber had originally hoped to finance 100,000 drivers under the program that launched in November 2013, but only ended up recruiting 20,000 people.

Xchange Leasing is only underway in a few areas, including Los Angeles, San Francisco, San Diego, and select cities in Georgia and Maryland. Only certain automakers are participating in the program as well, including Chrysler, Ford, General Motors, Hyundai, Nissan, Toyota, and Volkswagen.

Source: Uber, Reuters

AdChoices
AdChoices

More from Motor Trend

Loading...

image beaconimage beaconimage beacon