Uber’s divorce from auto leasing business highlights subprime market risks
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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.
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