Uber has struck an accord to sell its auto-leasing business to startup car marketplace Fair.com, according to a newspaper report. The ride-hailing company’s sale of its Xchange Leasing for an undisclosed sum brings to a close efforts by Uber to attract drivers who otherwise lack options for having an auto, according to The Wall Street Journal, which cited people familiar with the matter.
Scary U.S. Auto Loan Debt Numbers Foreshadow Economic Downturn
Rising U.S. Auto Loan Debt a Symptom of Bubble Economics Permeating Society
Auto industry sales have come back from the “Great Recession” grave, but U.S. auto loan debt threatens to relegate the industry to purgatory. Rock-bottom interest rates have allowed consumers to gorge on debt for too long, setting the stage for the auto loan debt 2017 debacle playing out before our eyes. The bill has come due, and the auto industry is bracing for a protracted retrenchment.