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Discussion Starter · #1 · (Edited)
Hello everyone, thought I'd post on here and let you know about a better alternative to renting or hiring an Uber car.

£1100 per month is roughly the going rate for renting a new Uber X car these days. Even if you can afford the insanely high rent, there are better options available. Renting, after all, is just money down the drain.

Full disclosure - I work at Zopa. We've teamed up with Uber and Jemca Toyota on Edgware Road to help Uber drivers buy their own car.

You can pick up a brand new Toyota Prius on a nearly 20% discount at £18,388 on Zopa finance from as low as 6.8% APR. With this deal, repayments start from £545 per month - compared to £1100 renting, that's a £555 monthly saving. After the 3 year repayment term, because you own the car, you will have the freedom to sell it when you want and save even more. There are also no early repayment or overpayment charges, so if you want to pay it off earlier, you can.

To take advantage of this deal visit http://zopacarfinance.com. The application process is really easy. Be sure to check your APR and monthly repayments too, they are unique to every applicant.

Feel free to ask me any questions, I'll do my best to answer them or call Zopa on 02075806060 and one of our specialists will be able to help you out.

Representative example:
A loan of £19,000 over 3 years will cost you £624.71 per month at 11.9% APR. The total cost after 3 years is £22,489.41, which includes an annual interest rate of 11.9% fixed. The total amount of credit is £19,000.
 

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As deals go for somebody that has declared being PH rather than not declaring it to get lower interest it is decent.

As a PH presents a higher risk and due to the earnings variations it is not uncommon for Ph drivers to have the odd missed or late payment especially if they don't live in social housing or have a small mortgage.

What is the situation for drivers with less than perfect credit scores?

Say a default from three or maybe four years ago or a four year old CCJ?

London is an expensive City to live in so financial problems are not uncommon.
 

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Is this deal available with any Toyota, or just the Prius? How about other makes? (Ford or Skoda, for example.)
 

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What is the situation for drivers with less than perfect credit scores?
Indeed. Same thing with the Banks.
You looking at their website showing you 11% or less then after you go to the bank for appointment you looking at 16-20+% because you aint got perfect score.
 

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We
Hello everyone, thought I'd post on here and let you know about a better alternative to renting or hiring an Uber car.

£1100 per month is roughly the going rate for renting a new Uber X car these days. Even if you can afford the insanely high rent, there are better options available. Renting, after all, is just money down the drain.

Full disclosure - I work at Zopa. We've teamed up with Uber and Jemca Toyota on Edgware Road to help Uber drivers buy their own car.

You can pick up a brand new Toyota Prius on a nearly 20% discount at £18,388 on Zopa finance from as low as 6.8% APR. With this deal, repayments start from £545 per month - compared to £1100 renting, that's a £555 monthly saving. After the 3 year repayment term, because you own the car, you will have the freedom to sell it when you want and save even more. There are also no early repayment or overpayment charges, so if you want to pay it off earlier, you can.

To take advantage of this deal visit http://zopacarfinance.com. The application process is really easy - the quote is free and it does not affect your credit file. Be sure to check your APR and monthly repayments too, they are unique to every applicant.

Feel free to ask me any questions, I'll do my best to answer them or call Zopa on 02075806060 and one of our specialists will be able to help you out.

Representative example:
A loan of £19,000 over 3 years will cost you £624.71 per month at 11.9% APR. The total cost after 3 years is £22,489.41, which includes an annual interest rate of 11.9% fixed. The total amount of credit is £19,000.
Hello everyone, thought I'd post on here and let you know about a better alternative to renting or hiring an Uber car.

£1100 per month is roughly the going rate for renting a new Uber X car these days. Even if you can afford the insanely high rent, there are better options available. Renting, after all, is just money down the drain.

Full disclosure - I work at Zopa. We've teamed up with Uber and Jemca Toyota on Edgware Road to help Uber drivers buy their own car.

You can pick up a brand new Toyota Prius on a nearly 20% discount at £18,388 on Zopa finance from as low as 6.8% APR. With this deal, repayments start from £545 per month - compared to £1100 renting, that's a £555 monthly saving. After the 3 year repayment term, because you own the car, you will have the freedom to sell it when you want and save even more. There are also no early repayment or overpayment charges, so if you want to pay it off earlier, you can.

To take advantage of this deal visit http://zopacarfinance.com. The application process is really easy - the quote is free and it does not affect your credit file. Be sure to check your APR and monthly repayments too, they are unique to every applicant.

Feel free to ask me any questions, I'll do my best to answer them or call Zopa on 02075806060 and one of our specialists will be able to help you out.

Representative example:
A loan of £19,000 over 3 years will cost you £624.71 per month at 11.9% APR. The total cost after 3 years is £22,489.41, which includes an annual interest rate of 11.9% fixed. The total amount of credit is £19,000.
 

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Hello everyone, thought I'd post on here and let you know about a better alternative to renting or hiring an Uber car.

£1100 per month is roughly the going rate for renting a new Uber X car these days. Even if you can afford the insanely high rent, there are better options available. Renting, after all, is just money down the drain.

Full disclosure - I work at Zopa. We've teamed up with Uber and Jemca Toyota on Edgware Road to help Uber drivers buy their own car.

You can pick up a brand new Toyota Prius on a nearly 20% discount at £18,388 on Zopa finance from as low as 6.8% APR. With this deal, repayments start from £545 per month - compared to £1100 renting, that's a £555 monthly saving. After the 3 year repayment term, because you own the car, you will have the freedom to sell it when you want and save even more. There are also no early repayment or overpayment charges, so if you want to pay it off earlier, you can.

To take advantage of this deal visit http://zopacarfinance.com. The application process is really easy - the quote is free and it does not affect your credit file. Be sure to check your APR and monthly repayments too, they are unique to every applicant.

Feel free to ask me any questions, I'll do my best to answer them or call Zopa on 02075806060 and one of our specialists will be able to help you out.

Representative example:
A loan of £19,000 over 3 years will cost you £624.71 per month at 11.9% APR. The total cost after 3 years is £22,489.41, which includes an annual interest rate of 11.9% fixed. The total amount of credit is £19,000.
I rent a Prius and it costs me £260 pw - but that does include insurance, if I sorted out my own insurance it would be £100 pw less
 

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Discussion Starter · #11 · (Edited)
What is the situation for drivers with less than perfect credit scores?

Say a default from three or maybe four years ago or a four year old CCJ?
Hi UberLuxbod, usually we take people with a good to perfect credit score.

Is this deal available with any Toyota, or just the Prius? How about other makes? (Ford or Skoda, for example.)
Hey Sylvester, at the moment this deal is only available with the Toyota Prius, although the new 7 seater Prius Plus is on there too, which I hear is popular.

Indeed. Same thing with the Banks.
You looking at their website showing you 11% or less then after you go to the bank for appointment you looking at 16-20+% because you aint got perfect score.
Hey igor l, this is true with a lot of banks (and lending companies). Naturally, everyone tries to advertise good rates. At Zopa, we give everyone an individual quote based on their credit score. The good thing about us is that you don't have to make an appointment, you can do it all online really quickly.
 

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Discussion Starter · #12 ·
and then you have to get your own insurance 250£+ monthly without NCB (as a new driver) so its nearly 800£ + , - . Plus mot every half year + plus service every 10k.
No thanks, i would rather rent for 1000£ monthly and no paying for mot + service.
This is a good point, when you buy a car you'll have to sort out insurance, etc. which increases the cost, but at the end of the day you own the car. There are no limits on how you can use it and you can sell it when you want and get some money back.

This is not the case when renting a car, it's money gone with no chance of getting any back.
 

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The work is very quiet at the moment PLEASE !! DO NOT commit yourselves to these sort of contracts / leasing.
Study very carefully the ins and outs as Uber is not that good now as it used to be the main reason influx of thousands of drivers.
If you stil want to join Uber get a car from car giant doesn't have to be expensive car something to get you around, that's the best option.
 

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Let's not forget that CarGiant can source finance for PH drivers and those with less than perfect credit history's

It would appear that Zopa may struggle in that regard.

PH drivers have always been considered an above average risk when it comes to car finance.
 

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Discussion Starter · #15 ·
Let's not forget that CarGiant can source finance for PH drivers and those with less than perfect credit history's

It would appear that Zopa may struggle in that regard.

PH drivers have always been considered an above average risk when it comes to car finance.
I think it's important to stress that we are partnered with Uber, in that sense, when PH drivers go through http://www.zopacarfinance.com we look quite favourably on PH Uber drivers and approve quite a number of applications.
 

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I would like to buy a car for personal purposes anyway. Are there any minimum requirements on how much you need to earn through Uber?
 

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Discussion Starter · #17 ·
Hi Mads, we find a lot of people who come through us want a car for personal use as well as for Uber.

There aren't any minimum requirements on how much you need to earn through Uber. Instead we run affordability checks, so providing you can afford to pay for the car finance, you should be okay.
 

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When you rent the whole payment comes of you top line when assessing income tax so reduces liability

When purchase you can only claim a percentage of actual vehicle each year against income tax. When you sell there is a tax claw back if you get more than the written down value.

If you are confident your industry is stable and overall your income will be good purchase and work up to owning a new vehicle every 2/3 years with minimal repayments. If you think the whole industry is likely to run into issues stick with the quick get out option and rent.
 

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Hi zopa do you have any mpv on finance not a fan of the Prius you get mostly peanut jobs with them.7 seaters it's the best of both worlds. Let us know what you got hutch:)
 
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