Self-driving cars: What are the credit union implications?

first_img 5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Autonomous vehicles (AVs) are speeding your way.While auto manufacturers might not sell AVs until the next decade, August 2016 saw the launch of Uber’s driverless car service in Pittsburgh (with “co-pilots” on hand for initial trips) and the world’s first self-driving taxies in Singapore.And Ford has promised to roll AVs off of its assembly lines by 2021.AVs will impact our way of life, and credit unions need to start adapting now.Lending implicationsWhile America’s love affair with cars isn’t likely to end anytime soon, it could certainly change.Uber, the ride-sharing giant, envisions consumers accessing a fleet of Uber-owned self-driving cars through partnerships established directly with auto manufacturers, Bloomberg reports.Groups may collectively finance and share an autonomous car. These loan scenarios may resemble cooperative personal aircraft financing, where the aircraft is co-owned. continue reading »last_img

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