Uber allows people with poor credit scores to purchase a vehicle so they can make a living? That seems fundamentally different than the "subprime crisis" involving mortgages.
Are you alleging that all lending to people with poor credit scores is wrong, even in the cases where doing so might be the only way to give that person a job and help them improve their life?
The point about indentured servitude seems like hyperbole. Certainly the drivers can decide to just stop driving for Uber (they can't withhold income that doesn't ever come through) and/or allow the car to be repossessed if they really can't afford it. It also looks like Uber is helping buyers get manufacturer discounts (http://uberwest.weebly.com/la-vehicle-financing.html). Maybe I'm missing something here, but it looks like a good program for a number of people who can't afford to buy a car but want to become a driver.
I don't think the parent said it was creating a "subprime crisis". I believe his point was that people with poor credit are buying a vehicle under "sub-prime" terms, meaning high interest rates and other onerous terms, that somehow binds the driver to Uber. That's a pretty shady tactic if true. Can somebody validate this claim?
Are you alleging that all lending to people with poor credit scores is wrong, even in the cases where doing so might be the only way to give that person a job and help them improve their life?
The point about indentured servitude seems like hyperbole. Certainly the drivers can decide to just stop driving for Uber (they can't withhold income that doesn't ever come through) and/or allow the car to be repossessed if they really can't afford it. It also looks like Uber is helping buyers get manufacturer discounts (http://uberwest.weebly.com/la-vehicle-financing.html). Maybe I'm missing something here, but it looks like a good program for a number of people who can't afford to buy a car but want to become a driver.