Uber’s divorce from auto leasing business highlights subprime market risks
Share Now on:
Uber, amidst its many troubles, will be winding down one chunk of its business. The Wall Street Journal reports that Uber will end it’s car leasing program by the end of the year. You may remember from 2015 that Uber started an auto leasing division as a way to attract new drivers. The idea being, if you wanted to drive for Uber but maybe didn’t qualify for your own car loan, Uber would give you one! Well those borrowers were what we call subprime and the subprime auto market gets a lot of attention these days.
Click the audio player above to hear the full story.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.