Three Automakers Join Forces with Ride-Sharing Companies

By

Automotive Editor

Justin Cupler has specialized as an automotive writer since 2009 and has been published in multiple websites and online magazines. In addition to contributing to CarsDirect, Justin also hosts a web-series car-review show and dabbles in the world of personal-finance writing.

His specialty is in the high-performance realm, but he has a deep love and understanding for all things automotive. Before diving into the world of writing, Justin was an automotive technician and manager for six years and spent the majority of his younger life tinkering with classic muscle cars.

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, Automotive Editor - June 1, 2016

Along with autonomous vehicles and alternative fuels, ride sharing has lately become a primary focuses of automakers. In recent months, we've seen important deals go through, like GM's major investment in Lyft. Just last month, no fewer than three automakers signed deals with ride-sharing companies—and one those could make a massive impact.

We're talking about a partnership that has just formed between Toyota and Uber—yes, that Uber—as the Japanese automaker's captive financing arm invests an undisclosed amount in the ride-sharing giant. Toyota will offer flexible leasing terms for Uber drivers by the end of the year, a major benefit since very few auto finance companies have been willing to give loans to people who list Uber as a source of income.

Toyota is also looking to help the company become more technologically stable by developing in-car apps that will support Uber drivers.

On a smaller scale than the Toyota-Uber partnership, Volkswagen has teamed up with European ride-sharing company Gett, and BMW is partnering with San Francisco-based Scoop, which has developed a carpooling app. VW shelled out $300 million for its partnership with Gett; there are no financial details available for the BMW-Scoop deal.

While you may feel a little jealous that Toyota will give Uber drivers great lease deals, you can rest assured that there will still be plenty of great retail lease deals through Toyota. One great deal that is available now is a 36-month deal on the 2016 Toyota Corolla that runs $149 per month with just $1,999 due at signing.

, Automotive Editor

Justin Cupler has specialized as an automotive writer since 2009 and has been published in multiple websites and online magazines. In addition to contributing to CarsDirect, Justin also hosts a web-series car-review show and dabbles in the world of personal-finance writing.

His specialty is in the high-performance realm, but he has a deep love and understanding for all things automotive. Before diving into the world of writing, Justin was an automotive technician and manager for six years and spent the majority of his younger life tinkering with classic muscle cars.

Follow On: Twitter

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