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Full text of /u/clonetent's comment:

"It's their xchangleasing leasing program. It's basically a sub prime car loan like from the housing bubble days.

You use Uber as your income verification and they'll let anyone lease a car provided they do X amount rides each week regardless of credit. They require a three year lease, you a have month to back out but after that you're on the hook for the car 100%. So if Uber cuts it's rates they still have same payment but less fare money each month. They did this to a lot of people and it's well known within the company that a lot of Uber black drivers were screwed when this happened.

https://www.bloomberg.com/news/articles/2016-05-31/inside-ub...

<q>He leased a 2016 Toyota Corolla from Xchange in November, paying $155 a week. Two months later, Uber slashed fares nationally. Soon Hofstede had trouble keeping up with his payments. He went from making $200 in a weekend to $140 in a weekend, he said. "It got to the point that I would drive just to meet my payment," he said. "If you were short on your payment for a week it would roll onto the payment for next week. It starts adding up." </q>

In this guys case they did a similar program for uber black years ago. Then they changed which cars were considered black cars. If I remember right a year after they started the program they changed which cars were considered "black" cars and this guys Lexus?? Was no longer a black car. They said it couldn't exclusively be used for black and had to pick up Uber X riders as well. Uber x pays a lot less. The people this happened to were basically bait and switched when Travis changed the terms on them. He can refuse uber x rides and only pick up uber black riders but if he refuses more than 45 rides in a month he's fired and forever banned from Uber but still on the hook for the car lease. The old Uber black leases started around 4k or 5k a month(I forget which cars but this was for a base "black car") but they made 6k to 8k, 10k a month back then depending on market. They cut rates and required you to pick up cheaper fairs and you're underwater. That's the 97k he's talking about. A lot of Uber black leases were repo'd because after this change their leases were more than their entire monthly wage. That's the personal responsibility Travis wants him to have. It's "Sorry the market change, too bad".

Also the market changed or I mean people did. They just stopped using Uber black. I mean if you're taking at 10 or 20 minute ride across town are you really so vain to need a uber black. Turns out actually rich people are cheap and flocked to Uber x. That's why Travis mentioned their reducing the amount of drivers beacuse the number or riders also drop double screwing guys like this.

Now let me say YES Travis is correct the guy is responsible for his desisions and things don't always work out like you'd expect. That said I see the guys side he made a 3 year commitment to Uber he couldn't walk away from and everything he was promised changed."