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Originally Posted by XDCX
While I've never used Uber or Lyft, the people I've spoken with who have give the service favorable reviews. Like you, I think both companies have a bright future but I think the future will look a fair bit different that what we have today.
I think the reason Google is working so hard on self-driving cars is because they know they can beat Uber and Lyft at their own game if they can eliminate the biggest negative variable - the driver. Driverless vehicles not only offer the advantage of wage savings, they eliminate the downside risk of hiring drivers who assault their customers or being sued by drivers who are assaulted by their customers.
Interesting. I wasn't aware that some lenders have started to exclude financing for vehicles that are used for ride sharing.
I wonder if the lender's fears are limited to increased vehicle depreciation because the car will likely incur high mileage or if there is some other risk they perceive?
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I haven't asked any lenders why they don't want to book deals on cars that are used for ride sharing, but I would imagine there are some fears of increased depreciation, wear, and higher than normal mileage on the unit.
I also wonder if part of the fear is that they will be left holding the bag for a loss if the driver wrecks the car, insurance doesn't pay because it was used for commercial purposes. If I recall correctly Uber doesn't specifically require commercial insurance for drivers on the basic Uber plan. Their version of the "black car" program does require commercial auto insurance.
I don't know if I would ever risk the unknowns to drive with Uber, but many people do and usually the cars are pretty presentable. Only one time did I end up with a ride in a car that was truly a heap.