Financing a car for Uber

Driving for Uber is one way to supplement your income from another job — or as a main job if you like to work on your own schedule. While the company recently ended its financing and leasing programs, you still have other rental and financing options to choose from.

Does Uber offer financing or leasing?

No. Uber ended its financing program in 2017, when it was reported that many drivers struggled to earn enough money from driving to pay for the high monthly payments and outstanding interest rates from their car loans.

Similarly, Uber sold its leasing program Xchange to Fair in 2018 after reportedly losing $9,000 per car on average. While Uber does mention on its website a fleet program that involves driving a car that someone else owns, there isn’t any further information on how this works.

How can I get a car to drive for Uber?

If you don’t currently have a car and need one for personal use as well as for your side hustle, you may want to consider buying or leasing your own car. Buying a car would cost you anywhere from $15,000 to upwards of $50,000, while leasing would likely run you at least $200 per month with an extra amount due at signing.

While buying or leasing independently may cost you more up front, it gives you freedoms you wouldn’t have if you were renting. These include the option to customize the car to your liking and not having to pay any extra fees for any mess that may occur.

Can I rent a car for Uber?

Yes, but you’ll need to rent from one of Uber’s partners. Options include hourly, daily, weekly and monthly rentals.

Compare your car loan options to drive for Uber

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Name	Product	Filter Values	Minimum credit score	APR	Loan term	Requirements
Carvana			No minimum credit score	3.9% to 27.9%	1 to 6 years	18+ years old, annual income of $4,000+, no active bankruptcies	Get pre-qualified for used car financing and receive competitive, personalized rates.	Go to site More Info	Compare	loading Fetching your data...
Monevo Auto Loans			500	3.99% to 35.99%	3 months to 12 years	Credit score of 500+, legal US resident and ages 18+.	Quickly compare multiple online lenders with competitive rates depending on your credit.	Go to site More Info	Compare	loading Fetching your data...
myAutoloan.com Car Loans			550	Starting at 2.15%		550+ credit score, no open bankruptcies, $24,000+ annual income, US citizen or permanent resident, 18+ years old	Get up to four offers in minutes through one simple application. Multiple financing types available including new cars, used cars and refinancing.	Go to site More Info	Compare	loading Fetching your data...

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What are Uber’s vehicle requirements?

While it’s up to you to decide which type of car to drive for Uber, there are a few requirements it needs to meet:

• Less than 15 years old
• Four doors
• Carry at least four passengers
• Good condition with no missing pieces or cosmetic damage
• Not salvaged, reconstructed or rebuilt
• No commercial branding or taxi paint jobs
• Listed as an insured driver if using a vehicle you don’t own

Should I buy or rent a car?

Whether you should rent a car or buy or lease your own car depends on your personal situation, including your budget and goals.

Our guide to renting a car for Uber

I got a car to drive for Uber. What’s next?

If you have a car that fulfills all of Uber’s vehicle requirements, you’re ready to sign up. Either download Uber’s mobile app or go to its website to begin the process. The application will ask for your contact information and Social Security number. You’ll also need to upload a photo of your driver’s license, vehicle insurance card and vehicle registration for the background check.

What documents will I need to apply?

Uber requires new drivers to provide the following documents:

• A valid US driver’s license issued at least one year ago
• Proof of residency
• Proof of insurance — only if you’re driving your own car

You may be asked to provide additional documentation depending on where you live.

Bottom line

Driving for Uber may be able to help you earn some extra cash on the side. But you’ll need to use your own car or rent one through its partners to qualify.

You can learn more about driving for Uber and your car financing options with our guides.

Frequently asked questions

• How old can my car be to drive for Uber?

  In order for your car to be eligible for Uber, it can’t be more than 15 years old.

• How long does it take to get approved to drive for Uber?

  The approval and activation process typically takes up to a week, according to Uber’s website. However, this will vary for each city.

• Are there any separate requirements for driving for Uber Eats?

  No. Getting approved for Uber Eats requires the same documentation needed to drive for Uber.

• How much can I make driving for Uber in my spare time?

  It depends on where you live, how many hours you clock in and what days of the week you drive. You can read one driver’s experience working with Uber to get an idea of how much you could make.