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What's the deal with Uber's Leasing Program?

Illustration for article titled Whats the deal with Ubers Leasing Program?

I have a friend (who doesn’t own a car) and he wants to start driving for Uber. He ALSO wants to lease it through Uber. Should I stop him? Is this a bad idea?

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He asked me to help him pick out a car, in regards to Uber’s “Xchange” leasing programs. From what I can see, you put $250 down and the dealership gives you a car at some negotiated monthly price.

But I’m reading that the prices for these cars are 40-50% higher per month than non-Xchange leasing, but it’s hard to get actual data to back that up. So what’s the deal? Are they a cheaper way to to get a convenient lease, or are they a price gouging mechanism for people who aren’t comfortable car shopping on their own?

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What advice should I give him? Should he look to lease separately, or should he be going to dealers directly?

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