LatamList – Uber and Kavak partner to offer Uber drivers in Mexico used-cars to purchase. The scheme aims to create better working conditions for employees and greater flexibility through ownership of their own vehicle.
The majority of Uber drivers rent the car in which they work. The partnership aims to help employees purchase their own car through partnering with Kavak, a used car platform, and offering individual financing plans to suit the individual.
The scheme will be functional throughout Mexico City, Monterrey, and Guadalajara. Drivers will be able to purchase their car with a zero percent down payment and a weekly payment scheme starting from 1,500 pesos.
Kavak, active throughout Latin America, recently reached a valuation of over $1.15B and unicorn status. The startup has steadily been expanding across the region following the acquisition of the Argentine startup Checkars.
Read more on Entrepreneur.