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How Uber car loans can help you get on the road

Want Uber to help you buy your car? We take you through the financing options available.

Updated

Fact checked

If you’re thinking about being an Uber driver, you may have heard about some of the financing options it has on offer. In the guide below we’ll take you through everything you need to know about Uber car loans, plus some alternatives offered by banks and lenders that you may want to consider.

Who is eligible for an Uber car loan?

You can only get a loan from the Uber finance marketplace if you are:

  • A current Uber partner. This means you have already completed the sign-up process and are currently an Uber driver, or;
  • Looking to sign up as a Uber partner driver. You need to be over the age of 21 and have held an unrestricted licence for at least 12 months. Other eligibility criteria also apply.
  • Residing in a city where Uber is available. You need to be living in Sydney, Melbourne, Canberra, Brisbane, the Gold Coast or Perth.

Uber driver beside his car

What Uber car loans are available?

There are a few different financing options available:

  • Rental. If you need an eligible car to get you on the road with Uber but aren’t ready for a car loan, you can consider renting through one of its partners.
  • Car loan. Standard car loans are also available with one of Uber’s company partners.
  • Rent with the option to buy at term’s end. These loans function in a similar way to a car hire purchase, where you are essentially hiring the car, and at the end of the term you have the option of owning the vehicle. Another one of Uber’s partners gives you the option to own, upgrade or hand back the vehicle at the end of the term.

Calculate how much you can make driving for Uber

What lenders are available?

At the time of writing, Uber has partnered with the following lenders to offer financing options:

Keep in mind that not all of these partners will be available in every city.

Compare your Uber vehicle options below

Data indicated here is updated regularly
Name Product Price Per Week (from) Insurance Included? Membership Fee Excess Distance Cost
Splend Car Rentals
$199
Yes
$275 (26 week rental period)
$0.10 per km
Get access to fuel discounts, referral bonuses and member only benefits when you rent a rideshare car with Splend. Rent-to-Drive and Rent-to-Buy options available.
DriveMyCar Uber Rentals
$160
Yes
$0
$0.10 per km
Get insurance, maintenance and 24-hour roadside assistance in the all-inclusive price. Discounts available for longer rental periods. Note: Rent a vehicle before 30 June 2020 and get $200 off.
Europcar Uber Rental
$195
Yes
$0
$0.25 per km
Benefit from 24/7 roadside assistance, a wide range of vehicles and no signup fee to start driving with Uber. A minimum four-week rental period applies.
Splend Rent-to-Own
$269
Yes
$275 (26 week rental period)
$0.10 per km
Rent a car and pay it off as you go with no lock-in contract, membership benefits and flexible rental options
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Compare up to 4 providers

How can I compare Uber car loans?

Uber’s loan partners each offer varying features with their loans. You can use these features to compare and find the right loan for you:

  • Structure of the loan. The finance might be a rental, car loan or “lease to buy” scheme, so decide which one will work best for your needs and situation.
  • Type of car the loan is suited to. Some of the partners have restrictions as to what kind of car you can finance with the loan. For instance, you may only be able to select particular new makes and models.
  • Interest rate and fees. How competitive is the loan? Compare the loan with other offers available with Uber’s partners. You should also compare them with loans from banks and other car loans lenders to make sure you’re getting a good deal.
  • Loan terms. If you’re renting the car, how long can you hold onto it for? If you’re renting to own, how long are the terms? You also need to check the terms on offer for standard car loans. Will the terms make for manageable ongoing repayments?
  • Additional features. Some loans come with additional features, such as complimentary comprehensive insurance or refundable deposits. Check to see what’s available.

What are the alternative loans to those offered by Uber?

Selecting a loan offered by Uber isn’t the only way to finance a car to drive with Uber. You can also consider loans offered by banks, credit unions and standalone car loan lenders. Here are some of your options:

  • Secured car loans. If you find an eligible vehicle you can use it to guarantee the loan. These car loans come with very competitive rates and you can choose from fixed or variable rate loans, depending on what works best for you.
  • Unsecured personal loans. Are you planning on buying a used car? You might want to consider an unsecured personal loan. You can select fixed or variable rate loans from a range of lenders and have between one and seven years to repay.

Becoming an Uber driver is a great option to consider, with flexible hours and a $30 per hour guarantee in the first month. If you’ve decided to be a driver, Uber car loans could be the icing on top of an enticing cake, helping you get into an eligible vehicle to get you onto the road as an Uber partner.

Loans.com.au - New and Dealer Used Car Loan

Loans.com.au - New and Dealer Used Car Loan

From

4.67 % p.a.

fixed rate

From

5.22 % p.a.

comparison rate

  • Early payout available
  • No monthly ongoing fee
  • Borrow up to $100,000
Security Logo

100% confidential application

Loans.com.au - New and Dealer Used Car Loan

A competitive fixed rate to purchase a car up to four years old. Option to add on-road costs into loan amount.

  • Interest rate: 4.67% p.a.
  • Comparison rate: 5.22% p.a.
  • Interest rate type: Fixed
  • Application fee: $400
  • Minimum loan amount: $5,000
  • Maximum loan amount: $100,000
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Promoted

Compare alternatives to Uber car loans

Data indicated here is updated regularly
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
Loans.com.au - New and Dealer Used Car Loan
From 4.67% (fixed)
5.22%
$5,000
3 to 5 years
$400
$0
You'll receive a fixed rate from 4.67% p.a. based on your risk profile
Finance a new car and benefit from features such as fast approval, no ongoing fees and an optional balloon payment. Note: Settle the loan before 30 November 2020 and enter the draw to win a $1,000 fuel voucher. Terms & conditions apply.
RateSetter Car Loan
From 4.89% (fixed)
5.44%
$10,000
3 to 7 years
$399 (from $249 to $799)
$0
You'll receive a fixed rate from 4.89% p.a.
Borrow up to $100,000 with a RateSetter Car Loan and benefit from no early repayment or exit fees.
IMB New Car Loan
5.45% (fixed)
5.8%
$2,000
1 to 7 years
$275.12 ($250 Application fee + $25.12 PPS registration fee)
$0
You'll receive a fixed rate of 5.45% p.a.
A low minimum borrowing amount of $2,000 that you can use to purchase a new car or one up to two years old.
CUA Secured Fixed Car Loan
6.79% (fixed)
7.16%
$5,000
1 to 7 years
$265 ($175 Establishment Fee + $90 Security Administration Fee)
$0
You'll receive a fixed rate of 6.79% p.a.
A secured loan with a high maximum borrowing amount up to $100,000. Redraw facility and no monthly fees.
IMB Secured Personal Loan
6.45% (fixed)
6.8%
$2,000
1 to 5 years
$275.12 ($250 Application fee + $25.12 PPS registration fee)
$0
You'll receive a fixed rate of 6.45% p.a.
Benefit from this competitive rate by securing the loan with a vehicle up to 6 years old. Use this flexible loan for any purpose.
Greater Bank New Car Loan
From 5.49% (fixed)
5.87%
$5,000
1 to 7 years
$275
$0
You'll receive a fixed rate of 5.49% p.a.
Apply for this loan to finance a brand new car or demonstrator vehicle and find out if you've been approved in 24 hours.
Stratton Finance New Car Loan
From 4.05% (fixed)
5.63%
$10,000
3 to 7 years
$700
$8.25
You'll receive a fixed or variable rate depending on the lender you are approved with
Apply for up to $250,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.
Credit Concierge Car Loan
From 4.45% (fixed)
5%
$10,000
1 to 7 years
$350
$0
You'll receive a fixed rate of 4.45% p.a. with a comparison rate of 5% p.a.
Get access to over 20 providers to fund a new or used car.

Beyond Bank Low Rate Car Loan
4.89% (fixed)
5.16%
$25,000
1 to 7 years
$175
$0
You'll receive a fixed rate of 4.89% p.a.
Take advantage of a competitive rate, pre-approval and no early repayment fees when you finance a car under two years old.
Greater Bank Secured Personal Loan
From 6.49% (fixed)
6.88%
$5,000
1 to 7 years
$275
$0
You’ll receive a comparison rate of 6.88% p.a. on funding from $5,000 - $100,000.
Loans are available on terms of up to 7 years and asset security is required. Get approved in as little as 24 hours.
Jump Payments Car Loans
From 4.47% (fixed)
5.28%
$5,000
1 to 7 years
$295 (Varies by lender, starting from $295)
$10
You'll receive a fixed rate from 4.47% p.a. and comparison rate from 5.28% p.a.
Borrow between $5,000 and $250,000. Get access to customised finance options.
NRMA New Car Loan
From 5.69% (fixed)
6.39%
$5,000
1 to 7 years
$499
$0
You'll receive a fixed rate from 5.69% p. a.
Purchase a new or used car up to 2 years old and benefit from a fixed rate and no monthly fees. Pre-approval available within 5 business hours.
NRMA Used Car Loan
From 6.99% (fixed)
7.7%
$5,000
1 to 7 years
$499
$0
You'll receive a fixed rate from 6.99% p.a.
Finance a used car with NRMA and benefit from a fixed rate term and no monthly fees. Pre-approval available within 5 business hours.
People's Choice CU Discounted Personal Loan (Car Loan)
From 4.65% (fixed)
4.99%
$20,000
1 to 10 years
$250
$0
Borrow over $20,000 and secure with a new or used car less than 2 years (manufacture year 2018).
Pre-approval, no monthly fees and fixed rate for 5 years.
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Compare up to 4 providers

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4 Responses

  1. Default Gravatar
    SerenaMarch 17, 2019

    Hi, I already have a secured personal car loan with a credit union. Can I still claim the remaining payments against the tax if I began working for Uber?

    • Avatarfinder Customer Care
      JoshuaMarch 18, 2019Staff

      Hi Serena,

      Thanks for getting in touch with Finder. I hope all is well with you. 😃

      I’m afraid I can’t provide a straightforward answer to your question, Serena. However, generally speaking, you can make tax deductions when you drive Uber. Anything that you spend for business purposes can be deducted on your tax.

      Since we are not tax experts, it would be a good idea to speak directly to a tax specialist. They should be more than happy to assist you with your query.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  2. Default Gravatar
    LalaSeptember 25, 2016

    Good morning,

    My name is lala looking for van for uber and i am a uber client just need car pls help or to see if i can lease or rent or just options to take for uber driver .

    • Avatarfinder Customer Care
      ElizabethSeptember 26, 2016Staff

      Hi Lala,

      You can find out about your car financing options on this page. There is also a vehicle leasing service you can read about here.

      Hope this helps,

      Elizabeth

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