Uber is phasing out its subprime car-leasing division after massive losses

Uber plans to discontinue its subprime car-leasing operation as it presently exists, according to The Wall Street Journal. Uber created Xchange Leasing LLC in two thousand fifteen in a bid to disrupt the auto loan industry, but it will now sell off or close most of the business by the end of the year, the Journal reports. (more…)