Uber to offer pre-owned cars to drives in Mexico
Uber has partnered with unicorn startup Kavak to offer second-hand cars to drivers in Mexico. Kavak, an online platform for buying and selling cars, will offer drivers who work through the ride-hailing app access to financing for the purchase of used cars with special conditions. The deal proposed by Kavak to Uber drivers is different from traditional financing, as it uses drivers’ activity history generated within the ride-hailing platform rather than their credit record to assess whether or not they are eligible for a loan. Eligible drivers will also be exempted from a down payment. Most drivers in the country cannot access financing to purchase their own car and end up renting instead. The partnership aims at reaching at least 60 000 drivers.