Should I finance a new car for uber ???
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808 Posts
Are you insane? How much Uber driving do you plan on doing?
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808 Posts
So full time in NYC, pretty saturated market, I would do a lot of reading here on the forum. I think you will need more like 60 hours a week just to live, if you want to call that living.
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11,812 Posts
Personally I prefer the tuck and roll method.
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808 Posts
Grab your ankles and pucker up.
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808 Posts
Why not try with a clean used car from around 2007, some dealers will even finance. See how it goes and if you are making enough upgrade.
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231 Posts
No, I would buy the cheapest most reliable and fuel efficient used car that I could find.
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1,188 Posts
Neither. Buy a used beater for $5,000.
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430 Posts
I'd go with the advice of buying an inexpensive used car. Even a car like a Honda which is usually fairly good at retaining value, is going to depreciate very fast when you're putting 25000+ miles/year on it.
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1,254 Posts
Yeah, got to keep your expenses minimum to make any money, and you CAN make money if you do that.
But a part-timer who needs a regular car for regular uses and a full-timer have different needs. If you are driving Uber full time you are probably not the best candidate to own a new car at all. Being I like to own 2 cars anyway I have my regular car that I don't drive for Uber and a cheap minivan which I do, and that's also my second car. If you want to be a full-time driver and you drive a lot other than Uber you might want to consider buying two used vehicles, one for Uber exclusively, and another for personal use that is acceptable for Uber that you can drive when the other one is not available so your income isn't interrupted. You can buy 5 used cars for the price of a new one.
But a part-timer who needs a regular car for regular uses and a full-timer have different needs. If you are driving Uber full time you are probably not the best candidate to own a new car at all. Being I like to own 2 cars anyway I have my regular car that I don't drive for Uber and a cheap minivan which I do, and that's also my second car. If you want to be a full-time driver and you drive a lot other than Uber you might want to consider buying two used vehicles, one for Uber exclusively, and another for personal use that is acceptable for Uber that you can drive when the other one is not available so your income isn't interrupted. You can buy 5 used cars for the price of a new one.
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5,898 Posts
Here's what you should do. Enclosed is a video clip:
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1,501 Posts
2009-10 ford flex. You can get them around 12,000 to 15,000 with relatively low miles (under 100k). Great car good for xl and lyft plus. Loan on that is around 2.5% from a credit union. Pay over 4 years you're looking at 325 / month or less if you finance 100%. You can do uber / lyft part time to cover the car payments real easy.
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808 Posts
+1 for the Flex, the predecessor was called the Taurus X which is also a good choice. Before that it was called the Freestyle which is good if you get a later model with a 6 speed automatic, steer clear of the CVT models, bad transmission with nothing but problems and expensive to fix.
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1,501 Posts
The Flex Limited should be an uber select, just sayin.
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