PriceProtect™
DriveShield™
GarageGuard™
Services
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
Loans
Car Loan
Compare Car Loans with Jerry
Jerry's Expert Advice
Car Loan Guides
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
Why wouldn't a dealer finance vehicles for Uber drivers?
I'm a full-time Uber driver and I finally socked away a few grand for a car down payment. I've been to a few dealers to inquire about their vehicles. As soon as I say I'm an Uber driver, they tell me they won't finance me. Why won't any dealers finance a car for an Uber driver?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Car dealerships and lenders often won’t finance Uber drivers because their income can fluctuate or cease at any time.
Statistically, only 4% of Uber drivers last more than a year on the job as well. That’s an awful lot of risk and volatility that the lender has to take on.
- When you apply for acar loan, lenders request your financial details and look at your gross earnings—this determines how much you can afford for a car payment and whether you can maintain a loan
- As a self-employed contractor through Uber, it can be difficult to show lenders how much you earn
The dealerships’ decisions all boil down to risk. If Uber is just your side hustle, you probably won’t have an issue
financing a car
, as long as you have good credit. But because Uber is your full-time gig, it’s unlikely you’ll be able to find financing through a dealership.The best thing you can do is look at a variety of lenders. While dealerships may deny financing, you may be able to find a bank or credit union that’s willing to work with you. You could also look into a personal loan instead of an auto loan.
View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
Join 4M+ members in lowering their car insurance
You Might Also Be Interested
Read Advice From Car Experts At Jerry
What Others Are Asking
Browse More Content
Insurance in Your State
Easiest way to compare and buy car insurance
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies
