Benefits of Rental v Car Finance for Uber

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    More and more people are choosing to rent a car to drive with rideshare on-demand applications such as Uber.

    So the question remains, why are people choosing to rent a car? And what are the benefits of renting a car for Uber compared to financing your own car?

    The following blog post examines the benefits of renting a car with Splend compared to traditional car finance:

    You are never locked in

    Splend rents cars on flexible agreements. After a minimum period of four or six weeks, depending on the plan you choose, you can provide your two-week termination notice and hand back the car. That’s all there is to it! There are no exit fees to worry about, so all the choice and flexibility is yours.

    By purchasing a car through traditional finance, you are committing to a four or five-year lease. Should at any time you decided that driving with Uber is not for you, you will need to earn another income immediately to continue to make the car repayments.

    Splend also offers a Rent-to-Own plan, which provides Members the opportunity to own their car after renting for four years. Unlike traditional car finance, you are never locked in, and after a period of six weeks you can provide your termination notice and hand the keys back.

    Access to a replacement vehicle within 24 hours after an accident

    Splend provides Members will a replacement vehicle in the unfortunate event of an accident. This means that there is no loss of income, which is very important.

    Let’s put that into context for an Uber driver. They earn a living from driving. Therefore, should the car be off the road for any amount of time, they are missing out on the ability to earn much-needed income. This income is needed not only to continue to pay the bills but to pay to get the vehicle back on the road.

    By renting a car with Splend, there is no loss of income.

    Convenience, convenience, convenience

    Every Splend Member receives a dedicated Member Success Representative who takes care of everything from your car servicing needs to organising replacement vehicles to ensuring the car’s registration and insurance are always up to date.

    The time you save by letting Splend take care of all the annoying administration, meaning that you can spend more time on the roads earning money with Uber. Not to mention that no one likes doing administration.

    You don’t need finance because you’re not taking out a loan

    When renting a car from Splend, you do not need finance as you are paying a simple weekly rental fee.

    In order to gain approval for traditional car finance, you need a number of supporting documents to be eligible.

    By renting a car with Splend, all you need is an Australian driver’s licence and a good driving record.