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Hmm, sounds like a great idea, except that they should do this with cheaper, used cars. if you have bad credit, you shouldn't be buying a brand new car.



You can, though it's got a 6 year age limit [1]. They only finance up to $20,000 which rules out a large number of completely new cars anyway.

Vehicles requirements for Xchange Leasing program:

    2009 or newer
    75,000 or less miles
    no salvage, rebuilt or flood vehicle titles
    4 full-sized doors
    minimum of 5 seatbelts (driver and 4 passengers)
    maximum amount financed $20,000 (subject to change)
1 - https://get.uber.com/cl/xchange/


> if you have bad credit, you shouldn't be buying a brand new car.

Can you elaborate? I don't see how that follows.


A brand new car might cost your 400-600/mo whereas a used car might cost your 2000usd total (5 months at 400/mo of savings). Even if you buy a piece of garbage, you could replace anything wrong with it and still come out ahead. A new car is really a stupid buy for a person with little income.


But you cannot work as an Uber driver if you have "a piece of garbage", kind of defeating the whole point.


You can find a lot of cars that are perfectly acceptable (no immediate work needed, no visible rust, does not need extensive interior cleaning) at $2k-$5k.


You can drive a 10 year old or older car for uber. In my area, prices are around 2000 dollars for 10 year old cars.


Parking, insurance, maintenance, gas, and getting your windows smashed in and belongings stolen every 2-3 months because you accidentally leave a packet of gum in there will set you back.




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