Economics
Inside Uber’s Auto-Lease Machine, Where Almost Anyone Can Get a Car
And now Wall Street is making a $1 billion bet on Uber's lease business
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In its relentless pursuit for growth, Uber needs new drivers, and many of those drivers need cars. To help them get started, Uber has been offering short-term leases since July through a wholly owned Delaware-based subsidiary called Xchange Leasing, LLC. It partners with auto dealerships, advertises to drivers, manages risk, and even pays repo men to chase down cars whose drivers aren't making their payments.
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