In a bid to attract more drivers towards it, Uber has decided to come up with a vehicle financing program for interested parties within India. Under this plan, the taxi-hailing service will be partnering with lending companies as well as car manufacturers to provide easy solutions for drivers.
With such a financing program, they can easily be able to own their cars and start serving passengers within a span of two days. And this can all happen with a down payment of just Rs 60000 thanks to the partnerships Uber has struck with financing companies such as AU Financiers, Shriram Transport Finance and Toyota Financial Services, and automobile manufacturers like Mahindra, Maruti Suzuki, Tata Motors and Toyota.
According to The Economic Times, Allen Penn who happens to head Uber’s business in Asia has said that with this new move, they are anticipating the creation of ‘thousands of jobs’ in India. This is not the first time such a scheme has been announced in the country, as rivals Ola and Meru have also been offering similar provisions since long.
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Under Uber’s terms, interested drivers will be able to buy vehicles with a down payment of Rs 60000 and at subsidized interest rates as well as financing terms. Apart from agreeing to be active partners, there are no other clauses that they’ll need to abide by, which means they will still remain entrepreneurs and will continue to enjoy the benefit of flexible working hours.
The announcement of financial schemes from Uber is sure to lend a huge hand to the taxi-hailing ecosystem in the country, mainly because interested drivers are oftentimes not eligible for a loan directly.