# The One Company That Is Anything But Fair..



## 2Cents (Jul 18, 2016)

*Report: Uber selling U.S. auto-leasing business to Fair.com*
USA TODAY

Sale negotiations came after ride-sharing company planned cutback of its Xchange Leasing business over rising costs Read the full story

Uber Technologies reportedly has reached a deal to sell its U.S. subprime auto leasing business to Fair.com, a startup car marketplace.
The planned sale ends the ride-sharing giant's effort to recruit new drivers who don't have regular access to vehicles of their own, The Wall Street Journal reported Tuesday, citing unidentified people familiar with the transaction.
Representatives of Uber and Fair.com did not immediately respond to emails seeking comment.
More: Uber to cut back car-leasing business
The reported sale comes after Uber officials said in August that the company planned to cut back on XChange Leasing, the car-leasing business launched two years ago, because of increasing costs.
Uber said at the time that it would consider several options for XChange Leasing, including selling the business or consolidating it to serve fewer cities and make it more efficient, USA TODAY reported in August.
Follow USA TODAY Money and Tech on Facebook
The program allowed Uber drivers to lease cars through dealerships. Approximately 40,000 cars were involved in the leasing program, along with 14 U.S. dealerships.
Uber reported a similar deal in July, announcing it would merge its Russia ride-hailing business with rival Yandex Taxi. The company also sold a stake in a separate car-leasing business in Singapore as it moves to cut costs.
Company officials have been trying to reverse the losses and boost Uber's corporate reputation following legal setbacks and widespread criticism of the company's male-centric business culture.
Buying cars from established auto dealerships, Fair.com matches customers with cars based on the amount they can afford in monthly payments. According to the company's website, customers pay a down payment followed by monthly payments for a set term period that typically lasts from four to seven years.
The payments are as low or lower than a typical loan or lease, according to the company, a financial technology firm based in Santa Monica, California.


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## Jo3030 (Jan 2, 2016)

From:

https://www.theverge.com/2017/12/26/16819810/uber-selling-auto-xchange-leasing-startup-fair-com

"The report says that Fair.com, which offers alternative leases where you can keep a car as long as you like, will buy Xchange Leasing for an undisclosed amount. Uber is not selling the company outright, though. It will take a stake in Fair and offer access to Fair's website through the Uber app. Fair will offer jobs to about 150 workers in return."

I knew it wasn't an outright sale.
No one is this dumb to buy this pile of dung.


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## SEAL Team 5 (Dec 19, 2015)

Another hand in the kitty. Let's see how thin of a slice of pie the driver really gets. Uber gets a piece of the fare, Fair.com or any other lease gets a piece of the fare, Instapay or what the hell other payment service gets a piece of the fare, rideshare insurance endorsement gets a piece of the fare. Damn, 65% of the fare is gone before you even put any gas in your car. 

This is the best "Kick me dog" syndrome I have ever seen. Drivers keep getting kicked in the face, yet are constantly running back to Uber with their tails wagging asking " May I please have another."


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## Jo3030 (Jan 2, 2016)

Downloaded the app.
On a sample car for $350, the first payment would amount to basically 1,000.
Then 350 afterwards.
Then they limit you per miles unless you buy more.
But then you still need insurance after that so they allow you to purchase insurance thru the app.

For folks wanting to drive to make money, this won't work either.


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## 2Cents (Jul 18, 2016)

Their numbers don't make sense. That's what's wrong here. When will investors throw in the towel and concede?


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## Mars Troll Number 4 (Oct 30, 2015)

Mileage limit...

That’s the peice or the puzzle Uber was missing.

There’s a reason i pay $132 or $198 a WEEK to rent a taxi for 24 or 36 hours. Cause I put like 400-750 miles on it in 24 or 36 hours.


Of course this won’t work out for the drivers...

Which is good, because WHEN it fails Uber might raise rates.


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## 2Cents (Jul 18, 2016)

Mears Troll Number 4 said:


> Mileage limit...
> 
> That's the peice or the puzzle Uber was missing.
> 
> ...


They'll just say they were right with their infinite wisdom...
Well google says it's costs..x
Then blame the drivers using those vehicles.


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## jester121 (Sep 6, 2016)

Mears Troll Number 4 said:


> Which is good, because WHEN it fails Uber might raise rates.


When it fails we'll just end up with a bunch of bankrupt drivers who are in even worse financial shape than before they got in bed with a subprime lease company.....

But who cares, plenty of new ants will come along to replace them.


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## STMNine (May 11, 2015)

jester121 said:


> When it fails we'll just end up with a bunch of bankrupt drivers who are in even worse financial shape than before they got in bed with a subprime lease company.....
> But who cares, plenty of new ants will come along to replace them.


Maybe not so much now, being that word is spreading like wildfire regarding Uber's unethical business practices subsequently making potential new drivers more and more hesitant to sign up with them.


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## MoreTips (Feb 13, 2017)

2018 will be even harder for Uber to recruit new drivers. 2017 was the year that Uber finally started to see that there is not a endless supply of drivers, every other company in the world knows you need to somehow keep your performing workers (employees or independent contractors). Ubers negative image in the media and amongst it's "partners" is a problem their arrogant leadership fully ignored for to long. I know it's crowded out there but a breaking point is coming.


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## getawaycar (Jul 10, 2017)

Uber bought 40,000 cars for the leasing program but ended up with a loss of $9,000 per car, despite charging an arm and a leg for the lease? Uber is the payday lender of ride-sharing, only not as competent. A more competent company would have started small with maybe a hundred or so cars to test the business model, not go all in at once with freaking 40 thousand cars lol.


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## twnFM (Oct 26, 2017)

We all know Uber is a crook, why are you surprised. Uber is a leech, period Can’t afford to quit, can’t afford to go forward. It’s the saga of American poor man.


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## tohunt4me (Nov 23, 2015)

2Cents said:


> They'll just say they were right with their infinite wisdom...
> Well google says it's costs..x
> Then blame the drivers using those vehicles.


Well
Now that Uber ADMITS KNOWING THE COST OF SUSTAINING VEHICLES DRIVING RIDESHARE . .

WHY WONT THEY PAY US !?

UBER IS UNSUSTAINABLE !


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## 2Cents (Jul 18, 2016)

getawaycar said:


> Uber bought 40,000 cars for the leasing program but ended up with a loss of $9,000 per car, despite charging an arm and a leg for the lease? Uber is the payday lender of ride-sharing, only not as competent. A more competent company would have started small with maybe a hundred or so cars to test the business model, not go all in at once with freaking 40 thousand cars lol.


Proof positive their model is flawed..
If they couldn't make it work, how the [email protected]€
can the average driver make it work?
Is the average driver supposed to sustain a loss of $9,000 to make it work to drive a bunch of entitled Millenials that do not know the definition of the word gratuity? Watch the video again of the driver who drove TK and was asking him about the lowered earnings. That's what he was talking about. Again with their infinite wisdom since they know everything, they lost $9,000 per vehicle. Open your eyes to the Ponz.


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## tohunt4me (Nov 23, 2015)

2Cents said:


> Proof positive their model is flawed..
> If they couldn't make it work, how the [email protected]€
> can the average driver make it work?
> Is the average driver supposed to sustain a loss of $9,000 to make it work to drive a bunch of entitled Millenials that do not know the definition of the word gratuity? Watch the video again of the driver who drove TK and was asking him about the lowered earnings. That's what he was talking about. Again with their infinite wisdom since they know everything, they lost $9,000 per vehicle. Open your eyes to the Ponz.


They will NEVER successfully manage ROBOCARS !


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## Drivincrazy (Feb 14, 2016)

Not while surrounded by 500,000 pissed off drivers.


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## Koolbreze (Feb 13, 2017)

Quit


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## RickR (Jul 29, 2017)

Jo3030 said:


> Downloaded the app.
> On a sample car for $350, the first payment would amount to basically 1,000.
> Then 350 afterwards.
> Then they limit you per miles unless you buy more.
> ...


It's a bookkeeping maneuver to get the huge Xchange leasing loss off their balance sheet. For drivers the charge for miles (I believe $125 per month for every 10,000 miles over the stated miles allowed) is going to have drivers literally working for free or losing money).



tohunt4me said:


> They will NEVER successfully manage ROBOCARS !


I think Uber now knows they're not capable of doing it. So they're going to let people buy, manage and maintain the cars for Uber. While Uber just gets a cut of the fare. I also think they're going to be other big players who are going to get involved to make sure their cars are being used.

No one really knows how this is going to play out. Especially if a certain percentage of previously car buying consumers stop buying cars for their own personal use.


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## goneubering (Aug 17, 2017)

Fair has been running radio ads here in Cali trying to expand their business beyond just Uber drivers.


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## 2Cents (Jul 18, 2016)

"RickR said:


> No one really knows how this is going to play out. Especially if a certain percentage of previously car buying consumers stop buying cars for their own personal use.


Dara Howeveryouspellit said in an interview with Fox that they want to make it easier for the consumer to not need a car....
But what he didn't mention is OK, some one does have to own , maintain, insure, and operate a vehicle in order to " make it easy for the consumer...etc"
What sucks is that person doing the interview should of called him out on that [email protected]


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## tohunt4me (Nov 23, 2015)

2Cents said:


> "RickR said:
> 
> 
> > No one really knows how this is going to play out. Especially if a certain percentage of previously car buying consumers stop buying cars for their own personal use.
> ...


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Yup.
There is ALWAYS A COST.

UBER IS GOING BROKE.

REAL PRICES MUST BE PAID SOON.


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## 2Cents (Jul 18, 2016)

The point is he should of been called out on it. They can't make it work and they have the andvantage how is the operator supposed to make it work while sustaining those types of losses.


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## tohunt4me (Nov 23, 2015)

2Cents said:


> The point is he should of been called out on it. They can't make it work and they have the andvantage how is the operator supposed to make it work while sustaining those types of losses.


UNSUSTAINABLE !


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