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Discussion Starter · #1 · (Edited)
http://mobile.reuters.com/article/idUSKCN0PX2CB20150723?irpc=932

So now it's been officially confirmed by Uber, although the article does not say why their partnership is over. A couple of months ago I was in the local Uber office, complaining that Santander was trying to charge me more on my lease than I signed for. The young lady replied, "We no longer work with Santander on new contracts. They raised many drivers' APR on their leases after they were signed".

Santander, on the other hand blamed Uber when I spoke to a rep from this company. The rep said that Santander did not know that Uber was going to slash fares/wages for drivers when it came up with the lease product with Uber.

It stands to reason that Santander may be doing a lot more repossessions than they forecast due to the Uber driver profit cuts making the leases unaffordable. On the other hand, it is a fact that Santander is indeed trying to raise payments after contract signing - this I know because they are trying to fo it to me. But if reduced driver profit is causing more repossessions, then Santander pulling a bait and switch with lease contract terms would only add to this. So that doesn't make sense.

One thing is certain; when you put two snakes together, it's no surprise when it results in a big screw up.

Kudos to chi1cabby for finding this article.
 

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Why anyone would lease a car to drive for a company that slashes rates at random is beyond me.
When I first discovered this board there were a lot of happy uber drivers and loved it. Looking around now... A lot of them are gone or completely have gone sour to it. They thought they all struck gold when they found out about Uber.... A little bit of nativity and a bit of just not thinking. People make mistakes.
 

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http://mobile.reuters.com/article/idUSKCN0PX2CB20150723?irpc=932

So now it's been officially confirmed by Uber, although the article does not say why their partnership is over. A couple of months ago I was in the local Uber office, complaining that Santander was trying to charge me more on my lease than I signed for. The young lady replied, "We no longer work with Santander on new contracts. They raised many drivers' APR on their leases after they were signed".

Santander, on the other hand blamed Uber when I spoke to a rep from this company. The rep said that Santander did not know that Uber was going to slash fares/wages for drivers when it came up with the lease product with Uber.

It stands to reason that Santander may be doing a lot more repossessions than they forecast due to the Uber driver profit cuts making the leases unaffordable. On the other hand, it is a fact that Santander is indeed trying to raise payments after contract signing - this I know because they are trying to fo it to me. But if reduced driver profit is causing more repossessions, then Santander pulling a bait and switch with lease contract terms would only add to this. So that doesn't make sense.

One thing is certain; when you put two snakes together, it's no surprise when it results in a big screw up.

Kudos to chi1cabby for finding this article.
Not to excuse Santander but maybe Santander was losing money by having to repossess more vehicles than it anticipated because they did not know Uber was going to cut driver pay.

They may be trying to recoup unanticipated losses by charging drivers more.

Which brings another thought to mind,

Santander made loans to drivers based on what UBER said it was paying drivers.

Will Santander sue Uber for some kind of breach of contract to recoup unanticipated losses?
 

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Discussion Starter · #6 · (Edited)
When I first discovered this board there were a lot of happy uber drivers and loved it. Looking around now... A lot of them are gone or completely have gone sour to it. They thought they all struck gold when they found out about Uber.... A little bit of nativity and a bit of just not thinking. People make mistakes.
Don't be so quick to judge others and whether they made a mistake or not.

I had no money and was a couple of weeks away from homelessness. It was either buy a car at a ridiculous interest rate and be upside down on the loan the minute I signed the paperwork. This would be a difficult trap to get out of.

Or, the Santander lease. I went into it knowing that I could get out of it if I chose, and what that would cost. If I were in the same position again, I would take the Santander lease again, over other options which were worse.

So no, no mistake was made on my part.
 

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http://mobile.reuters.com/article/idUSKCN0PX2CB20150723?irpc=932

So now it's been officially confirmed by Uber, although the article does not say why their partnership is over. A couple of months ago I was in the local Uber office, complaining that Santander was trying to charge me more on my lease than I signed for. The young lady replied, "We no longer work with Santander on new contracts. They raised many drivers' APR on their leases after they were signed".

Santander, on the other hand blamed Uber when I spoke to a rep from this company. The rep said that Santander did not know that Uber was going to slash fares/wages for drivers when it came up with the lease product with Uber.

It stands to reason that Santander may be doing a lot more repossessions than they forecast due to the Uber driver profit cuts making the leases unaffordable. On the other hand, it is a fact that Santander is indeed trying to raise payments after contract signing - this I know because they are trying to fo it to me. But if reduced driver profit is causing more repossessions, then Santander pulling a bait and switch with lease contract terms would only add to this. So that doesn't make sense.

One thing is certain; when you put two snakes together, it's no surprise when it results in a big screw up.

Kudos to chi1cabby for finding this article.
Innovative disruption shaking up obsolete big government regulation.

Yep, that's what it is.
 

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Don't be so quick to judge others and whether they made a mistake or not.

I had no money and was a couple of weeks away from homelessness. It was either buy a car at a ridiculous interest rate and be upside down on the loan the minute I signed the paperwork. This would be a difficult trap to get out of.

Or, the Santander lease. I went into it knowing that I could get out of it if I chose, and what that would cost. If I were in the same position again, I would take the Santander lease again, over other options which were worse.

So no, no mistake was made on my part.
Sorry to hear that and I'm glad you've been able to stay on your feet. But that doesn't change the fact many others were naive to go into the Santander lease and/or just didn't think it through.
 

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Could see this coming a mile away from the jump. I understand OP's dilemma, and in his sitch he really didn't have a choice, but for so many others, Uber rate cuts completely ****ed them over. I'd probably lawyer up and attempt sue the shit out of either/both if I had jumped into a lease and had my earnings cut off at the kneecaps, to be honest. There's got to be some kind of law these disgusting companies broke to sucker people into these deals.
 

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Could see this coming a mile away from the jump. I understand OP's dilemma, and in his sitch he really didn't have a choice, but for so many others, Uber rate cuts completely ****ed them over. I'd probably lawyer up and attempt sue the shit out of either/both if I had jumped into a lease and had my earnings cut off at the kneecaps, to be honest. There's got to be some kind of law these disgusting companies broke to sucker people into these deals.
Yep...I think Santander got thrown for a loop last year when Uber started slashing per mile rates. They didn't see it coming. Wonder if they will sue Uber?
 

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Don't be so quick to judge others and whether they made a mistake or not.

I had no money and was a couple of weeks away from homelessness. It was either buy a car at a ridiculous interest rate and be upside down on the loan the minute I signed the paperwork. This would be a difficult trap to get out of.

Or, the Santander lease. I went into it knowing that I could get out of it if I chose, and what that would cost. If I were in the same position again, I would take the Santander lease again, over other options which were worse.

So no, no mistake was made on my part.
You did what you had to do! No judgement hear. Hope things have turned around for you on a better path.
 

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Will Santander sue Uber for some kind of breach of contract to recoup unanticipated losses?
we all need to immediately enter into law school and become attorneys because an astonishing new mega-growth industry is incoming, it's going to be called SueUber ..early valuation $650 billion
 

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http://mobile.reuters.com/article/idUSKCN0PX2CB20150723?irpc=932

So now it's been officially confirmed by Uber, although the article does not say why their partnership is over. A couple of months ago I was in the local Uber office, complaining that Santander was trying to charge me more on my lease than I signed for. The young lady replied, "We no longer work with Santander on new contracts. They raised many drivers' APR on their leases after they were signed".

Santander, on the other hand blamed Uber when I spoke to a rep from this company. The rep said that Santander did not know that Uber was going to slash fares/wages for drivers when it came up with the lease product with Uber.

It stands to reason that Santander may be doing a lot more repossessions than they forecast due to the Uber driver profit cuts making the leases unaffordable. On the other hand, it is a fact that Santander is indeed trying to raise payments after contract signing - this I know because they are trying to fo it to me. But if reduced driver profit is causing more repossessions, then Santander pulling a bait and switch with lease contract terms would only add to this. So that doesn't make sense.

One thing is certain; when you put two snakes together, it's no surprise when it results in a big screw up.

Kudos to chi1cabby for finding this article.
Santander is as shady as Uber:

http://www.justice.gov/opa/pr/justi...r-consumer-usa-resolve-allegations-concerning
 

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Sorry to hear that and I'm glad you've been able to stay on your feet. But that doesn't change the fact many others were naive to go into the Santander lease and/or just didn't think it through.
It was all a snow job. Uber is complicit in this scheme as well.
 
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http://mobile.reuters.com/article/idUSKCN0PX2CB20150723?irpc=932

So now it's been officially confirmed by Uber, although the article does not say why their partnership is over. A couple of months ago I was in the local Uber office, complaining that Santander was trying to charge me more on my lease than I signed for. The young lady replied, "We no longer work with Santander on new contracts. They raised many drivers' APR on their leases after they were signed".

Santander, on the other hand blamed Uber when I spoke to a rep from this company. The rep said that Santander did not know that Uber was going to slash fares/wages for drivers when it came up with the lease product with Uber.

It stands to reason that Santander may be doing a lot more repossessions than they forecast due to the Uber driver profit cuts making the leases unaffordable. On the other hand, it is a fact that Santander is indeed trying to raise payments after contract signing - this I know because they are trying to fo it to me. But if reduced driver profit is causing more repossessions, then Santander pulling a bait and switch with lease contract terms would only add to this. So that doesn't make sense.

One thing is certain; when you put two snakes together, it's no surprise when it results in a big screw up.

Kudos to chi1cabby for finding this article.
Dag-nab-it, I missed out on that wonderful deal?!
 

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When I first discovered this board there were a lot of happy uber drivers and loved it. Looking around now... A lot of them are gone or completely have gone sour to it. They thought they all struck gold when they found out about Uber.... A little bit of nativity and a bit of just not thinking. People make mistakes.
"Struck gold?" Nope - but I also didn't know I was signing on with the scummiest bastards to ever draw a breath.
 
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