Uber has partnered with Australian peer-to-peer lender, Society One, to help more Australian drivers get on the road for Uber by accessing cheaper car finance. The partnership is part of Uber’s new marketplace which aims to connect current and potential drivers to vehicle rental, leasing and finance providers. SocietyOne will offer car loans from between $5000 and $35,000 to new and existing Uber drivers, with interest rates starting at 6.45%. According to Uber, 10-15% of new driver applications in Australia come from people who either don’t have a car or whose car is today, preventing them from joining as a driver, hence the new finance agreement.
Uber has partnered with Australian peer-to-peer lender, Society One, to help more Australian drivers get on the road for Uber by accessing cheaper car finance. The partnership is part of Uber’s new marketplace which aims to connect current and potential drivers to vehicle rental, leasing and finance providers. SocietyOne will offer car loans from between $5000 and $35,000 to new and existing Uber drivers, with interest rates starting at 6.45%. According to Uber, 10-15% of new driver applications in Australia come from people who either don’t have a car or whose car is more than nine years old, preventing them from joining as a driver, hence the new finance agreement.