# Uber, Santander partnership on car loans is over



## elelegido (Sep 24, 2014)

http://mobile.reuters.com/article/idUSKCN0PX2CB20150723?irpc=932

So now it's been officially confirmed by Uber, although the article does not say why their partnership is over. A couple of months ago I was in the local Uber office, complaining that Santander was trying to charge me more on my lease than I signed for. The young lady replied, "We no longer work with Santander on new contracts. They raised many drivers' APR on their leases after they were signed".

Santander, on the other hand blamed Uber when I spoke to a rep from this company. The rep said that Santander did not know that Uber was going to slash fares/wages for drivers when it came up with the lease product with Uber.

It stands to reason that Santander may be doing a lot more repossessions than they forecast due to the Uber driver profit cuts making the leases unaffordable. On the other hand, it is a fact that Santander is indeed trying to raise payments after contract signing - this I know because they are trying to fo it to me. But if reduced driver profit is causing more repossessions, then Santander pulling a bait and switch with lease contract terms would only add to this. So that doesn't make sense.

One thing is certain; when you put two snakes together, it's no surprise when it results in a big screw up.

Kudos to chi1cabby for finding this article.


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## moni4nuttin (Oct 22, 2014)

Why anyone would lease a car to drive for a company that slashes rates at random is beyond me.


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## elelegido (Sep 24, 2014)

moni4nuttin said:


> Why anyone would lease a car to drive for a company that slashes rates at random is beyond me.


Hindsight is always 20/20.


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## Brooklyn (Jul 29, 2014)

moni4nuttin said:


> Why anyone would lease a car to drive for a company that slashes rates at random is beyond me.


When I first discovered this board there were a lot of happy uber drivers and loved it. Looking around now... A lot of them are gone or completely have gone sour to it. They thought they all struck gold when they found out about Uber.... A little bit of nativity and a bit of just not thinking. People make mistakes.


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## observer (Dec 11, 2014)

elelegido said:


> http://mobile.reuters.com/article/idUSKCN0PX2CB20150723?irpc=932
> 
> So now it's been officially confirmed by Uber, although the article does not say why their partnership is over. A couple of months ago I was in the local Uber office, complaining that Santander was trying to charge me more on my lease than I signed for. The young lady replied, "We no longer work with Santander on new contracts. They raised many drivers' APR on their leases after they were signed".
> 
> ...


Not to excuse Santander but maybe Santander was losing money by having to repossess more vehicles than it anticipated because they did not know Uber was going to cut driver pay.

They may be trying to recoup unanticipated losses by charging drivers more.

Which brings another thought to mind,

Santander made loans to drivers based on what UBER said it was paying drivers.

Will Santander sue Uber for some kind of breach of contract to recoup unanticipated losses?


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## elelegido (Sep 24, 2014)

Brooklyn said:


> When I first discovered this board there were a lot of happy uber drivers and loved it. Looking around now... A lot of them are gone or completely have gone sour to it. They thought they all struck gold when they found out about Uber.... A little bit of nativity and a bit of just not thinking. People make mistakes.


Don't be so quick to judge others and whether they made a mistake or not.

I had no money and was a couple of weeks away from homelessness. It was either buy a car at a ridiculous interest rate and be upside down on the loan the minute I signed the paperwork. This would be a difficult trap to get out of.

Or, the Santander lease. I went into it knowing that I could get out of it if I chose, and what that would cost. If I were in the same position again, I would take the Santander lease again, over other options which were worse.

So no, no mistake was made on my part.


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## Hackenstein (Dec 16, 2014)

elelegido said:


> http://mobile.reuters.com/article/idUSKCN0PX2CB20150723?irpc=932
> 
> So now it's been officially confirmed by Uber, although the article does not say why their partnership is over. A couple of months ago I was in the local Uber office, complaining that Santander was trying to charge me more on my lease than I signed for. The young lady replied, "We no longer work with Santander on new contracts. They raised many drivers' APR on their leases after they were signed".
> 
> ...


Innovative disruption shaking up obsolete big government regulation.

Yep, that's what it is.


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## Brooklyn (Jul 29, 2014)

elelegido said:


> Don't be so quick to judge others and whether they made a mistake or not.
> 
> I had no money and was a couple of weeks away from homelessness. It was either buy a car at a ridiculous interest rate and be upside down on the loan the minute I signed the paperwork. This would be a difficult trap to get out of.
> 
> ...


Sorry to hear that and I'm glad you've been able to stay on your feet. But that doesn't change the fact many others were naive to go into the Santander lease and/or just didn't think it through.


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## Odiezilla (Sep 26, 2014)

Could see this coming a mile away from the jump. I understand OP's dilemma, and in his sitch he really didn't have a choice, but for so many others, Uber rate cuts completely ****ed them over. I'd probably lawyer up and attempt sue the shit out of either/both if I had jumped into a lease and had my earnings cut off at the kneecaps, to be honest. There's got to be some kind of law these disgusting companies broke to sucker people into these deals.


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## Txchick (Nov 25, 2014)

Odiezilla said:


> Could see this coming a mile away from the jump. I understand OP's dilemma, and in his sitch he really didn't have a choice, but for so many others, Uber rate cuts completely ****ed them over. I'd probably lawyer up and attempt sue the shit out of either/both if I had jumped into a lease and had my earnings cut off at the kneecaps, to be honest. There's got to be some kind of law these disgusting companies broke to sucker people into these deals.


Yep...I think Santander got thrown for a loop last year when Uber started slashing per mile rates. They didn't see it coming. Wonder if they will sue Uber?


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## Txchick (Nov 25, 2014)

elelegido said:


> Don't be so quick to judge others and whether they made a mistake or not.
> 
> I had no money and was a couple of weeks away from homelessness. It was either buy a car at a ridiculous interest rate and be upside down on the loan the minute I signed the paperwork. This would be a difficult trap to get out of.
> 
> ...


You did what you had to do! No judgement hear. Hope things have turned around for you on a better path.


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## riChElwAy (Jan 13, 2015)

observer said:


> Will Santander sue Uber for some kind of breach of contract to recoup unanticipated losses?


we all need to immediately enter into law school and become attorneys because an astonishing new mega-growth industry is incoming, it's going to be called SueUber ..early valuation $650 billion


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## observer (Dec 11, 2014)

Lol, it appears only lawyers, lobbyists and PR firms are making money off Uber.


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## Gemgirlla (Oct 16, 2014)

elelegido said:


> http://mobile.reuters.com/article/idUSKCN0PX2CB20150723?irpc=932
> 
> So now it's been officially confirmed by Uber, although the article does not say why their partnership is over. A couple of months ago I was in the local Uber office, complaining that Santander was trying to charge me more on my lease than I signed for. The young lady replied, "We no longer work with Santander on new contracts. They raised many drivers' APR on their leases after they were signed".
> 
> ...


Santander is as shady as Uber:

http://www.justice.gov/opa/pr/justi...r-consumer-usa-resolve-allegations-concerning


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## Gemgirlla (Oct 16, 2014)

Brooklyn said:


> Sorry to hear that and I'm glad you've been able to stay on your feet. But that doesn't change the fact many others were naive to go into the Santander lease and/or just didn't think it through.


It was all a snow job. Uber is complicit in this scheme as well.


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## DriverJ (Sep 1, 2014)

elelegido said:


> http://mobile.reuters.com/article/idUSKCN0PX2CB20150723?irpc=932
> 
> So now it's been officially confirmed by Uber, although the article does not say why their partnership is over. A couple of months ago I was in the local Uber office, complaining that Santander was trying to charge me more on my lease than I signed for. The young lady replied, "We no longer work with Santander on new contracts. They raised many drivers' APR on their leases after they were signed".
> 
> ...


Dag-nab-it, I missed out on that wonderful deal?!


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## DriverJ (Sep 1, 2014)

Gemgirlla said:


> Santander is as shady as Uber:
> 
> http://www.justice.gov/opa/pr/justi...r-consumer-usa-resolve-allegations-concerning


"As shady as Uber." Those are mighty big shoes to fill.


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## DriverJ (Sep 1, 2014)

riChElwAy said:


> we all need to immediately enter into law school and become attorneys because an astonishing new mega-growth industry is incoming, it's going to be called SueUber ..early valuation $650 billion


GREAT!!


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## DriverJ (Sep 1, 2014)

Txchick said:


> Yep...I think Santander got thrown for a loop last year when Uber started slashing per mile rates. They didn't see it coming. Wonder if they will sue Uber?


I'd rather see them have Kalanick shot.


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## DriverJ (Sep 1, 2014)

Brooklyn said:


> When I first discovered this board there were a lot of happy uber drivers and loved it. Looking around now... A lot of them are gone or completely have gone sour to it. They thought they all struck gold when they found out about Uber.... A little bit of nativity and a bit of just not thinking. People make mistakes.


"Struck gold?" Nope - but I also didn't know I was signing on with the scummiest bastards to ever draw a breath.


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## Lando74 (Nov 23, 2014)

elelegido said:


> Hindsight is always 20/20.


So is common sense


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## UberRidiculous (May 19, 2015)

Lando74 said:


> So is common sense


Actually common sense isn't so common. Ha!


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## riChElwAy (Jan 13, 2015)

DriverJ said:


> I'd rather see them have Kalanick shot.


ROFL nice!


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## secretadmirer (Jul 19, 2015)

UberRidiculous said:


> Actually common sense isn't so common. Ha!


those two words went their separate way at the uber crossroads


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## elelegido (Sep 24, 2014)

Lando74 said:


> So is common sense


Nice attempt at a zinger, but common sense being 20/20 makes no sense.

As I mentioned, I read the contract in detail and knew it was a bad deal before I signed, but I had limited options, and I do not regret taking the lease.

It's all so easy to take the "told you so" attitude after the event and try to look clever and wise, but actually, doing it makes you look neither.


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## Dan Levine (Jul 23, 2015)

Hi, I'm the reporter who wrote the Reuters story, and would be interested in speaking to anyone who has entered into a financing/leasing arrangement to drive for Uber. Feel free to direct message me


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## Txchick (Nov 25, 2014)

Dan Levine said:


> Hi, I'm the reporter who wrote the Reuters story, and would be interested in speaking to anyone who has entered into a financing/leasing arrangement to drive for Uber. Feel free to direct message me


Rich Brunelle if you have a moment please respond


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## chi1cabby (May 28, 2014)

Hiya Dan Levine, welcome to the forum.
You've been keeping a good eye on Uber's prominence in court dockets.
Thank you!


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## painfreepc (Jul 17, 2014)

elelegido said:


> Nice attempt at a zinger, but common sense being 20/20 makes no sense.
> 
> As I mentioned, I read the contract in detail and knew it was a bad deal before I signed, but I had limited options, and I do not regret taking the lease.
> 
> It's all so easy to take the "told you so" attitude after the event and try to look clever and wise, but actually, doing it makes you look neither.


I also have no regrets, I drive a beautiful 2015 Ford fusion hybrid SE, two months short of a year and still no problems with this car,

Yes like everyone else I am pissed about the rate cuts, but i can still pay the weekly lease or close to it working 3pm to 3am Saturday.


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## CROWBOY (May 31, 2015)

Wonder if Salamander and Fuber made that deal via text message or email. Fuber probably made 20% with $1 per lease knowing them.


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## Honkadonk (Jul 20, 2015)

CROWBOY said:


> Wonder if Salamander and Fuber made that deal via text message or email. Fuber probably made 20% with $1 per lease knowing them.


Texts like:

"LOL so we just lease them cars, jack up the interest rates, and then lower driver pay?"

"Ya lololol"


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## XUberMike (Aug 2, 2015)

The problem with the unlimited mileage lease...Screwber cuts rates 25% drivers need to drive 40% more to make up the difference, leased cars now have far more miles that originally estimated at higher fares.


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## Yuri Lygotme (Jul 27, 2014)

Surprise, surprise! Feds are investigating Santander auto loans:

https://uberpeople.net/threads/santander-auto-loans-under-federal-investigation.31709/


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