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Fair to Add Inventory With $50M Debt Facility Backed by Silicon Valley Bank

Used-car leasing app Fair closed a $50 million debt facility financed by Silicon Valley Bank. The funds will be used to purchase more vehicles for Fair’s fleet, the company announced Jan. 24. The new debt facility is a move for the bank to support “companies offering disruptive solutions in industries undergoing transformative change," Zhengyuan Lu, […]

Uber Weighs Options for Xchange Leasing, Including Sell-Off

Uber Technologies Inc. is considering selling or consolidating its leasing program — Xchange Leasing — which provides subprime car leases to Uber drivers, a source familiar with the program told Auto Finance News. The program, which debuted in July 2015 as a way to help provide vehicles to potential drivers, was also an initiative to encourage […]