# Xchange Lease Experience



## elelegido (Sep 24, 2014)

Having told Santander where to go after they kept insisting on trying to charge me a higher weekly payment than the one we signed on in the contract, I needed a vehicle.

While I figured out what to get I thought I'd try the Xchange lease. You pay $250 up front, only have to keep the car a minimum of six weeks, and pay nothing to get out of it. So it can be used as a short term rental.

The weekly rent is high at $146, but I got a Prius C, which gets 50+ mpg. Six days per week, 250 miles per shift, the gas savings over a 30 mpg car would be around $90 per week, making the car expense (excluding consumables and insurance) around $60 per week. Which is about what I'll be paying in depreciation when I buy my own car.

So it sounded pretty good. What could _possibly_ go wrong?

I showed up at the dealer, put the 250 down, signed the contract and picked up the keys to the Prius. So far, so good.

Then, soon after picking up the car, I got a call from the dealer. "Hey! I need you to come and sign some more papers!"

- "Why?", asked I.
- "Xchange did not administer your contract correctly. They need you to sign a different one".
- "Why?", I asked again
- "They messed up the start date of your payments"

I told the dealer I would go and take a look at the new contract. When I got there I saw that the new contract had a higher weekly payment than the one he and I had already signed. $6 more per week. Not enough to break the bank, but still.

- "I don't like this contract", I said to the dealer. "I prefer the current one. It's $6/week, that's $26/month, cheaper"
- "Hmmm - I don't know why they did that
- "Yeah, who knows. Anyway, I'm going to decline your offer of the new contract."
- "Ok, then you can return the car to me"
- "No... I won't be doing that either. You and I signed a contract and it's valid. The only way you can take the car back is if I were in default, and I'm not"
[Silence]
- "Xchange hasn't paid me for the car yet. I can't have a car out there for which I haven't been paid yet."

I understood from the dealer that Xchange hadn't finalized the deal yet with him, and that they wouldn't pay him until I signed a new contract. But I had the car, and a valid contract. Which puts the dealer in the situation technically known as tough shit.

So, with that resolved, or not, I went on with my day. A short time later I got an email from Credit Karma telling me that someone had put a hard enquiry on my credit file. I checked it, and yes, Xchange had dinged my credit with a new, unauthorized by me, hard pull on my credit files _after_ I signed the first lease. Just when I'm going to be looking for my own car financing. Thanks, idiots.

So I've emailed Xchange asking what the hell they're doing, and told them to take off the second enquiry, and that I'm not paying them more than I signed up for.

So be careful, folks; this is the Santander bait and switch debacle once again, with the additional ****up factor of Uber doing all of the administration of these leases.


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## sidewazzz (Jun 30, 2015)

We did ours super smooth no issues. Payments a 104 a week.


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## elelegido (Sep 24, 2014)

sidewazzz said:


> We did ours super smooth no issues. Payments a 104 a week.


What vehicle did you get?


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## sidewazzz (Jun 30, 2015)

Civic


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## UberBlackDriverLA (Aug 21, 2014)

Does this lease have unlimited miles?


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## sidewazzz (Jun 30, 2015)

UberBlackDriverLA said:


> Does this lease have unlimited miles?


 Yup and only a $250 fee to break the lease.


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## elelegido (Sep 24, 2014)

sidewazzz said:


> Yup and only a $250 fee to break the lease.


There's a $250 exit fee, but the original $250 down is a refundable deposit, so if the car is returned without damage the net to give the car back is zero.


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## painfreepc (Jul 17, 2014)

It Does not include free car repairs, it only includes oil changes and filters, 

so basically it looks like any other lease, it's just that you're paying a higher monthly lease payment for the high mileage and low startup fee,

$146 per wk = about $630 per month for a car you will never own and you will be doing repairs on, if you drive it long term,

I am NOT saying this is good or bad I'm just putting it out there.


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## dunbar (Sep 3, 2015)

I believe any purchase contract that involves financing/leasing has language about being subject to approval by the lender which can take several days to be completed. They want you to leave with the car so that you don't change your mind. They can't force you to pay more but you'd have to return the car. For $6/week maybe they weren't willing to let the deal go down the tubes but legally they have more authority than you think.


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## sidewazzz (Jun 30, 2015)

painfreepc said:


> It Does not include free car repairs, it only includes oil changes and filters,
> 
> so basically it looks like any other lease, it's just that you're paying a higher monthly lease payment for the high mileage and low startup fee,
> 
> ...


Considering our car only had 30k in Miles, repairs would be a long way down the road.


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## painfreepc (Jul 17, 2014)

sidewazzz said:


> Considering our car only had 30k in Miles, repairs would be a long way down the road.


Well I feel the same about my santander lease-to-own, but many here talk shit to me about, I only pay about $120 a month more than you and I will own the car 42 months from now, you will not own anything..


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## elelegido (Sep 24, 2014)

painfreepc said:


> It Does not include free car repairs, it only includes oil changes and filters,
> 
> so basically it looks like any other lease, it's just that you're paying a higher monthly lease payment for the high mileage and low startup fee,
> 
> ...


I think it should be viewed as a short term rental option only.


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## elelegido (Sep 24, 2014)

dunbar said:


> I believe any purchase contract that involves financing/leasing has language about being subject to approval by the lender which can take several days to be completed. They want you to leave with the car so that you don't change your mind. They can't force you to pay more but you'd have to return the car. For $6/week maybe they weren't willing to let the deal go down the tubes but legally they have more authority than you think.


Yeah, I checked that in the contract before I replied to them. Their cancellation period for them to rescind the contract had _just_ expired before they told me they didn't like the contract. D'oh!

So now if I say no to increased payments, it's no to increased payments


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## sidewazzz (Jun 30, 2015)

painfreepc said:


> Well I feel the same about my santander lease-to-own, but many here talk shit to me about, I only pay about $120 a month more than you and I will own the car 42 months from now, you will not own anything..


Honestly I dont want to own it. It's a Honda civic the only thing it's practical for is to do uber X in it because I don't have to worry about the car in the end. If I felt like owning a car with payments and ownership responsibility I would get a car from the dealer. You are going to own a car with a shit ton of miles of it that were basically put on for other people than yourself. I don't know about you but that's a huge turn off for me.


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## sidewazzz (Jun 30, 2015)

elelegido said:


> I think it should be viewed as a short term rental option only.


This


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## DeeRod (Sep 14, 2015)

sidewazzz said:


> We did ours super smooth no issues. Payments a 104 a week.


I'm considering doing this... Is it a simple process to pick up the car? How long should I expect to be at the dealership. I've been approved by Uber Xchange, so what happens now when I get to the dealer?
Also, how does insurance work for this? What are the options?

Thanks in advance


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## mystysue (Aug 22, 2015)

It was super smooth for me as well.
One of the tricks is to find a dealer on this program that you like.. lol..
I went to the honda dealer in whittier they were great to work with..
I had my choice of their used cars that were included on the program list or a new honda.
for some reason it seems that with the couple dealers I spoke with .. you could not get a used honda from a honda dealer only the new accord.
but you could get a used car of a different maker if they had them. I got a 2013 hyundai sonata from the honda dealer.. I like the sonata its very roomie and it has quite a bit of pick up power when merging on the freeways etc.. my payments are 111. a week. .. I could have gotten new accord there but it would have been like 50 more dollars a week. I got my approval from Uber in One or two days... then went to the dealer, picked out the car filled out the paper work one evening at about 7pm,
got a call the next morning saying I was approved.. and could pick it up only needed to bring my insurance card showing that the car was insured .
I called metromile signed up .. and when later that day .. and picked up the car and signed the final papers


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## mystysue (Aug 22, 2015)

Your choices for insurance with this program is metro mile or farmers.
both have ride share policies


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## DeeRod (Sep 14, 2015)

Ohh.. So they do an additional approval after you've been approved on the Uber app?

What's the cost for rideshare insurance? I know many factors are taken into consideration, just want to get a rough idea


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## mystysue (Aug 22, 2015)

metro mile is funky the way they work it..
I pay a flat fee and so much for mile that is not at a time I am driving for uber. 
mine should averages out to about 70- 80 a month.. I lowered my deductible to 250, and this comes with rental car and roadside assistance


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## mystysue (Aug 22, 2015)

DeeRod said:


> Ohh.. So they do an additional approval after you've been approved on the Uber app?
> 
> What's the cost for rideshare insurance? I know many factors are taken into consideration, just want to get a rough idea


a good way to figure out approx.. what yours will be is to go to the site and put in your info.. and say what kinda car you are thinking of getting an get a quote
they will give the qoute on their web site.. but make sure you go the section for uber drivers
https://www.metromile.com/uber/


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## painfreepc (Jul 17, 2014)

mystysue said:


> metro mile is funky the way they work it..
> I pay a flat fee and so much for mile that is not at a time I am driving for uber.
> mine should averages out to about 70- 80 a month.. I lowered my deductible to 250, and this comes with rental car and roadside assistance


you really don't know what your insurance will cost, until you get your first bill, check back with us in about two months...


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## painfreepc (Jul 17, 2014)

mystysue said:


> I got a 2013 hyundai sonata from the honda dealer.. I like the sonata its very roomie and it has quite a bit of pick up power when merging on the freeways etc.. my payments are 111. a week. .. I could have gotten new accord there but it would have been like 50 more dollars a week.


so a new car would have been about $161 per week, for a car you do repairs on and will never own, sounds like fun -- Not.


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## mystysue (Aug 22, 2015)

painfreepc said:


> you really don't know what your insurance will cost, until you get your first bill, check back with us in about two months...


actually I know daily what my non uber miles are and how much I drive.. 
I have a 9 to five job and uber part time my mileage is not as high as someone who does this more.


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## painfreepc (Jul 17, 2014)

mystysue said:


> actually I know daily what my non uber miles are and how much I drive..
> I have a 9 to five job and uber part time my mileage is not as high as someone who does this more.


any time you don't have a uber client on the app, you pay for milage, so check back with us in about one or two months,
if you have full time job and you only do uber for beer and giggle money, you may be ok, good luck..
(note, i said uber's clients, they are not are clients)


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## Verdigo998 (Sep 12, 2015)

painfreepc said:


> Well I feel the same about my santander lease-to-own, but many here talk shit to me about, I only pay about $120 a month more than you and I will own the car 42 months from now, you will not own anything..


You're buying a car that you start of Ubering in? You got balls bro!


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## painfreepc (Jul 17, 2014)

Verdigo998 said:


> You're buying a car that you start of Ubering in? You got balls bro!


_I have BIG BRASS  BALLS_, and _they CLANK when I walk_!!!!


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## Riverside_UbX (Sep 25, 2015)

sidewazzz said:


> We did ours super smooth no issues. Payments a 104 a week.


Did you have to make an appointment first? Or did you just show up to the dealer


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## LAHertzXchangePartner (Mar 7, 2016)

dunbar said:


> I believe any purchase contract that involves financing/leasing has language about being subject to approval by the lender which can take several days to be completed. They want you to leave with the car so that you don't change your mind. They can't force you to pay more but you'd have to return the car. For $6/week maybe they weren't willing to let the deal go down the tubes but legally they have more authority than you think.


Hi Dunbar,
That's correct. All of the contracts that I've seen have clauses in them that state "subject to approval by lending institution", or something to that effect.


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## LAHertzXchangePartner (Mar 7, 2016)

mystysue said:


> Your choices for insurance with this program is metro mile or farmers.
> both have ride share policies


Hi Mystysue,
My understanding is there should be 3 carriers for California. Farmers, Metromile, and Mercury. Also, other readers have posted two others that I have not been able to confirm as of yet: USAA, and Traveler's. Cheers, Douglas


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## SFAgentKyle (Mar 16, 2016)

LAHertzXchangePartner said:


> Hi Mystysue,
> My understanding is there should be 3 carriers for California. Farmers, Metromile, and Mercury. Also, other readers have posted two others that I have not been able to confirm as of yet: USAA, and Traveler's. Cheers, Douglas


State Farm is also available in California as of this week.


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## Tattooweenie (Jun 19, 2016)

AAA has Rideshare insurance as well. It's relatively new.


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## dmitry_cmr (Nov 28, 2016)

Hi, everyone. Can anyone tell who's been in that program xchange leasing and returned a vehicle without any troubles . I've seen some people saying that it's not easy to return a car and they can make you pay all remaining payments. Can anyone clarify this question please? All info will be helpful. Thank you.


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## uberperson89 (Dec 9, 2016)

Hey all, does anyone have a blank Xchange lease agreement I can look at (or knows if I can find it anywhere online)? It sounds like a tricky program, and I wanted to take a look for myself before I commit to a credit check and put the process in motion...


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## sueeeee (Dec 17, 2016)

Hi this is Sue, a USC student. I'm doing a project on Uber's Xchange leasing program and wanna know about the details in the contract. I was wandering could anyone of you share your contracts with me? You can erase all private information and i promise i will not use it for other purposes! 
I would appropriate so much if you can help me!
Thank you!


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## UberNaToo (Dec 9, 2016)

painfreepc said:


> Well I feel the same about my santander lease-to-own, but many here talk shit to me about, I only pay about $120 a month more than you and I will own the car 42 months from now, you will not own anything..


But if you are an Uber ninja your car will be worthless with the miles you tacked on, right? But hey, it'll make a great monument to the exploitative aspects of a capitalist system. Take pictures and post it here if Uber is still around.


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## UberNaToo (Dec 9, 2016)

sueeeee said:


> Hi this is Sue, a USC student. I'm doing a project on Uber's Xchange leasing program and wanna know about the details in the contract. I was wandering could anyone of you share your contracts with me? You can erase all private information and i promise i will not use it for other purposes!
> I would appropriate so much if you can help me!
> Thank you!


No, wait let me just send you my social security number too! (Uber Oz, is the two second wait requirements to limit posts like this?)


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## sueeeee (Dec 17, 2016)

UberNaToo said:


> No, wait let me just send you my social security number too! (Uber Oz, is the two second wait requirements to limit posts like this?)


I'm sorry if you feel uncomfortable but I didn't mean that. I just want a blank contract and wanna see the details on that contract to finish my course. I would appreciate it if anyone could do me this favor. Thank you.


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## UberNaToo (Dec 9, 2016)

sueeeee said:


> I'm sorry if you feel uncomfortable but I didn't mean that. I just want a blank contract and wanna see the details on that contract to finish my course. I would appreciate it if anyone could do me this favor. Thank you.


No problem I was just ad hoc posting, ping me directly and I'll send you mine. The well is empty, pearched on the edge of a cliff looking down into the financial abyss I have nothing to fear but fear itself. Why else would anyone still accept Uber Pool? I just want to have people in my vehicle shepparding them to their destination like some third world rickshaw driver running the filthly streets of Bombay in bare feet while the establishment urge me on faster with the whip. Maybe some day they will pick me to play on their team.

"That such things could happen on our farm would not have believed. It must be due to some fault in ourselves. The solution, as I see it, is to work harder"


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## painfreepc (Jul 17, 2014)

UberNaToo said:


> But if you are an Uber ninja your car will be worthless with the miles you tacked on, right? But hey, it'll make a great monument to the exploitative aspects of a capitalist system. Take pictures and post it here if Uber is still around.


At 120 miles, on 3rd pair or tires, new 12v battery, no other issues, not even brakes..


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## elelegido (Sep 24, 2014)

painfreepc said:


> At 120 miles, still no issues, not even brakes..


There's no right answer to this Santander vs Xchange debate. You'll get the car eventually but are locked into the contract, although you can pay to get out of it, and Xchange is slightly cheaper and you don't get the car at the end, but there is more flexibility.

My current Camry cost the equivalent of 24 weekly Santander payments. It took me 5 weeks working Uberlyft to net the entire purchase price of the car. Just hoping it doesn't go bang any time soon.


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## painfreepc (Jul 17, 2014)

elelegido said:


> There's no right answer to this Santander vs Xchange debate. You'll get the car eventually but are locked into the contract, although you can pay to get out of it, and Xchange is slightly cheaper and you don't get the car at the end, but there is more flexibility.
> 
> My current Camry cost the equivalent of 24 weekly Santander payments. It took me 5 weeks working Uberlyft to net the entire purchase price of the car. Just hoping it doesn't go bang any time soon.


You paid less then $4,178.80 for a new Toyota Camry - WOW!


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## elelegido (Sep 24, 2014)

painfreepc said:


> You paid less then $4,178.80 for a new Toyota Camry - WOW!


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