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Discussion Starter · #1 ·
Hello...

While I know $6k monthly sounds optimistic, I'd like to work out the numbers to see what makes sense.

Monthly expenses: - $1500
Cost for 2014prius with 60k miles: - $15,000

rideshare monthly income: + $6,000

If you came across these numbers, would you buy a car like this?
 

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Hello...

While I know $6k monthly sounds optimistic, I'd like to work out the numbers to see what makes sense.

Monthly expenses: - $1500
Cost for 2014prius with 60k miles: - $15,000

rideshare monthly income: + $6,000

If you came across these numbers, would you buy a car like this?
Monthly expenses from
Uber ? Or in general

Rent
Utilities
Phone
Internet
Cable
Medical
Taxes
Food
Entertainment




Fuel
Maintenance and repairs
Payment
Insurance
Car wash
 

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Discussion Starter · #3 ·
Thanks for replying...

Monthly expenses from
Uber ? Or in general

Rent
Utilities
Phone
Internet
Cable
Medical
Taxes
Food
Entertainment




Fuel
Maintenance and repairs
Payment
Insurance
Car wash
Rent, Utilities, Phone, Internet, Cable, Medical, food, entertainment = $1,000 give or take.

taxes = I guess that depend on how much i make. Im usually under $40k/yearly.

Fuel, Maintenance and repairs , Payment, Insurance, Car wash = Im sure this will add to my expenses. I will have someone helping me with car payment. car insurance has been about $100 for liability in the past. maybe less. Its been a while since Ive owned a car.
 

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Discussion Starter · #6 ·
Thanks guys.

I'd also want to pay down the car as fast as possible.
My debts are minimal (for now)... so whatever money left over would just go into paying off the car.
 

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Discussion Starter · #7 ·
Also, Ive been talking to uber/lyft/grub drivers in the streets.

It seems like $4000- $6000 monthly gross is doable. At least for now.
 

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How much debt do you have right now aside from a mortgage?

How much emergency savings do you have? If there were another pandemic lock-down and business evaporated, how long could you make it without help?
 

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Discussion Starter · #9 ·
How much debt do you have right now aside from a mortgage?

How much emergency savings do you have? If there were another pandemic lock-down and business evaporated, how long could you make it without help?
I have about $3000 in debt and roughly $6k in the savings.
That's pretty much it.

I could make it roughly 3 or 4 months if another pandemic hits.

I also dont have a mortgage.
 

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why would i get deactivated? And why so soon?
SO MANY WAYS

False accusation from passenger that you were :
1) Drunk
2) Had a gun
3) Refused their service animal
4) Made an inappropriate sexual advance
5) Touched the passenger in a violent or sexual manner
6) Refused to pick up someone because of his race
7) Made insensitive remarks about race / gender / sexual preferences
8) Drove Recklessly
9) Tampered with their food

Accused of fraud:

I have been accused of fraud because;
- Restaurants have closed and forgot to turn off their apps
- Delivery customers put in a false address and wouldn't answer my phone calls.
- I have refunded rides to passengers during quests
- I have taken long routes to avoid construction
- I have gotten the same rider too many times

One of my fraud messages warned me that a future message of the same type would result in permanent deactivation.

Then also, there is the whole background check thing:

1 at fault traffic accident or serious driving ticket, or serious criminal offense and you are done.

Or a combination of 3 driving offenses and minor/non-fault accidents in 3 years...

...or you could just get unlucky with lesser offenses that their automated systems cannot parse.

I was deactivated for some weeks on Uber because I had a single failure to signal minor traffic violation from the airport cops (so minor that I'm not even barred from the airport), but got reactivated after a review.

Lyft tells me I am permanently deactivated for the same offense unless I can get it expunged or get a pardon and a letter of rehabilitation, because it showed up on the criminal record instead of just the driving record even though it is just a 1 point moving violation ticket (a stop sign ticket would be like 3 points, so it is a very minor ticket). I haven't given up hope on Lyft yet though, as I went to the hub and talked to a rep there who will "send an e-mail" to try and get me reactivated. Fingers crossed... in a week or so I'll give up and delete the app off my phone and maybe try again next year or in a few years after I can get an attorney to seal my records.

I highly recommend you buy a dash cam as it can help prevent deactivation by providing evidence, potentially directly to Uber, but definitely to the courts where any violation you are accused of is likely to cost you your job. Oh, and fight all tickets.
 

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Your earnings will increase with experience

Sounds all good...get a good mehanic
 

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I would wait and see what business is like in the fall before committing that much money to a vehicle for rideshare. If drivers come back en masse, you may not make anywhere near as much as you're making now.
 

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Discussion Starter · #19 ·
I would wait and see what business is like in the fall before committing that much money to a vehicle for rideshare. If drivers come back en masse, you may not make anywhere near as much as you're making now.
I got a book called "How to make your car last forever".
You think a book will be good enough to learn to fix my car or should I actually get some sort of "mechanic mentor" ?

I imagine there are just some things in a prius I wont be able to fix because it's electrical.
 

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Hello...

While I know $6k monthly sounds optimistic, I'd like to work out the numbers to see what makes sense.

Monthly expenses: - $1500
Cost for 2014prius with 60k miles: - $15,000

rideshare monthly income: + $6,000

If you came across these numbers, would you buy a car like this?
OP, it is important to take into consideration what trafficat said about being fired from Uber or Lyft. Do a search in this forum on "deactivation". This is not a gig good for anything other than SUPPLEMENTAL income. Neither Uber or Lyft are profitable concerns, so in addition to the random false accusation it is unclear how long rideshare services can continue in their current forms.

With the labor shortage being what it is there are other jobs paying more and having better job security.

Furthermore, I would not purchase a car up front if you have never done rideshare before. What if it doesn't work out? See about renting at first.

Finally, if you chose to plunge anyway, a Prius is an ideal rideshare vehicle. As to whether the Prius you are looking at is worth $15K, we have no way of knowing. Depends on the condition of the car and the average sale price in your area.

Good luck. Don't hate me for telling you the truth.
 
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