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Fair to Roll Out Weekly Payment Program

Subscription app Fair is gearing up for the rollout of a weekly payment plan for Uber drivers, Patrick Wilkison, Fair's general partner and head of ride-sharing, told Auto Finance News.   “We realized the [weekly payment] is the type of cadence the rideshare driver operates,” Wilkison said. “Rideshare drivers get their payouts on a weekly […]
  • Nicole Casperson
  • June 5, 2019

Changes in Transportation Models a Greater Threat Than Economic Downturn, CPS CFO Says

While a looming economic downturn has prompted auto financiers to find strategies to protect profit margins, Consumer Portfolio Services Chief Financial Officer Jeff Fritz said lenders should be thinking about how the personal transportation model is transforming. “Don’t be so occupied stamping out the ants that you miss the elephants coming over the wall,” Fritz warned […]

Uber Makes IPO Case That It’s About the Platform, Not the Losses

Uber Technologies Inc., the current era’s archetypal startup, moved toward becoming a public company Thursday, revealing that it racked up a $3 billion operating loss last year and hoping potential investors will look beyond that. Less than two years after being tapped to take Uber to its initial public offering destination, Chief Executive Officer Dara […]

What Uber Really Gets From Selling a $1 Billion Stake

There’s more going on under the hood of a consortium’s planned $1 billion investment in Uber Technologies Inc.’s self-driving car unit than immediately meets the eye. Softbank Group Corp.’s Vision Fund and other investors are set to pump that amount into the division at a valuation of between $5 billion and $10 billion. It’s almost […]

Will Ride-Hailing Replace Personally-Owned Cars? Execs Weigh In

LAS VEGAS —  The disruptive impact that ride-hailing companies are having on auto finance is evident with the success of Uber and Lyft. While both companies are not profitable, Uber 's revenue surged 43% to $11.3 billion in 2018 and Lyft's revenue doubled to $2.2 billion. However, the question confronting auto finance is whether ride-hailing […]

HyreCar Scouts Insurance Options Amid Profit Growth

HyreCar is leveraging its 2018 growth to either reprice or onboard a new insurance provider this year, Chief Executive Joe Furnari, told Auto Finance News. The startup's growth in earnings, operations, and geographic expansion allows more room for negotiations as its insurance renewal date approaches in early April. “We’re coming up on that renewal date,” […]
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