# Uber battles claims of subprime car finance



## Ben Hall (Apr 15, 2016)

Uber is facing accusations it is partnering with subprime auto lenders in Australia as part of an aggressive push to get more drivers on the road.

Read more: http://www.smh.com.au/business/cons...ar-finance-20160523-gp1vbe.html#ixzz4BAUMjSec 
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## joffie (Jan 31, 2016)

"You're actually making nothing." 

Says it all...


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## Skyring (Sep 17, 2015)

joffie said:


> "You're actually making nothing."
> 
> Says it all...


No, it doesn't.

I agree that there are drivers who are not making anything significant. Someone who doesn't understand the risks and believes in Uber's hype could find themselves in serious trouble.

I'd steer well clear of some of these car financing deals. They don't look like value for money.

And I reckon driving full-time for Uber is a mug's game.

However, some here are making money. I'm making my TCO each week and a chunk more, and I'm enjoying it. I think there's a few others who are doing well. Or at least claiming it.

And a lot of drivers blaming Uber, blaming the passengers, blaming anybody but themselves for getting in too deep.


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## WollyDriver (Apr 8, 2016)

I think what a lot of people forget is that you are essentially starting a business. When starting a business there are a number of things that you need to look into, one of the obvious ones are the financials. Of course, it is very difficult to do that, one drivers numbers are not indicative of your own results, and getting access to a large number of drivers results are almost impossible (and ensuring any sort of data consistency/integrity).
As such, it would be highly sensible (common sense) to take a minimal risk, I think one of the finance option had a minimal sign up fee of under $1000 and a minimal 1 month (or 3 months). Or just borrow a car for a couple of weeks, etc... This isn't the sort of business where you will be raising VC and running at a loss for 5 years, you need to be making a profit from day one (or at least within the first 2 weeks). You need to keep thorough records of everything, but equally understand that the true cost will come later (after you pay for new tyres, brakes, etc)...
PS, I just finished my first shift were I used up an entire tank of petrol in less than one day.... 
PPS, I also met a pax who claimed to be an "entrepreneur" which I read as an unsuccessful businessman. A true entrepreneur would have a list of successful (and failed) businesses, in which case they are more likely a (multiple) business owner.... Uber should probably be one part of your business, don't let one "customer" control more than 30% of your business, otherwise if you lose that one customer (uber) then you are in major trouble. Diversify as quickly as you can...


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## mitc (Jun 19, 2016)

well if you signup for financial support or loans for a car then your an idiot and deserved to be milked for been stupid .. invest that money into school maybe lol

a uni student drop out of uni cuz of this, if u goto griffith university near mt gravatt , you too would of heard of it, it was a big deal a yr back.
idiot took an offer on societyone only to understand, uber 4.7 star requirements is BS.. go kick off the platform without any chance of gettin back on then got screwed


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