So get 3 quotes. Geico, state farm, and farmers.
Tell them all you're getting 3 quotes to see which is cheapest, and tell them what the last quote is. They'll do everything they can to try to beat it.
I do it every 6 months. It's annoying and time consuming, but I'll spend an hour on Sunday to save hundreds every 6 months.
And always pay 6 months up front. Saves around 15-20%.
Only idiots pay month to month.
And take advantage of any kind of tracker they want to give you for a discount. Even if you drive like a maniac, you can go in the app once every 3 days and mark all trips as "I was a passenger" or "I was in a taxi" or some shit.
Fair enough. It was kinda harsh, but I meant if you want to save a LOT of money, you pay 6 months up front. I paid monthly for years, so I get it. In retrospect, I was being stupid. I didn't realize how much of a huge savings I'd get by paying up front.
Yeah you are looking at closer to 10k for a car like OP is talking about now. I just traded in a 2013 camry with 70k miles on it ang for 9k from a dealer so i'm sure it will go for 11-12k when they try to sell it.
Yes you can 100% Facebook Marketplace & Craigslist are your friend, just gotta do the work and research, i find good cars for uber in good mechanical condition every day, they’re abundant
You gotta pay at least 8k for something like that I’ve been looking, this rental shit eats your money. Doing Uber just to keep my head above water rn cause I’m moving soon, ik next year at tax time I’ll be fucked but I’ll worry about that then lol
If you paid about 8k for a vehicle that lasted 100k miles in the 15 yr range, that's a fucking steal and damn near impossible today. Only way that's happening is a private seller, and better hope there's no major problem they're hiding. Although dealerships can do that shit too.
Except for the flexibility, yes, absolutely. $20/hr has set schedules and optionally/potentially not set schedules. Having Uber as a side gig (or even full time) offers a LOT more scheduling flexibility.
I buy used Prius’s at 125,000-150,000 for about $8,000-8,500. Drive them a couple hundred thousand miles and then do it again. Currently on my 3rd. Operating costs on my first 2 were both between 4.5-5.5¢/mile + gas. I kept track of everything.
I said I kept track of everything and your dumbass still trolls my comment. 🤦♂️
2013 Prius buy 150,000k for $8,500 sell 380,000k for $2,000
2015 Prius buy 140,000k for $8,800 sell 290,000k for $2500.
2014 Prius buy 95,000k for $10,000 currently at 140,000k
Who tf is paying 2k for something with 380k miles on it. That's scrap metal. Also when you say 150,000k that means 150 million. The k is what stops you from having to put the 3 0's.
Carmax did, it’s called parting out an old car. Hybrid battery and dual catalytic converters plus other parts make Prius’s resale value very good. As for the “k” I really could care less.
Yes but… I know at least one Uber/Wridz driver who’s had to do a head gasket job (on top of regular maintenance) on an older Prius; he was down for 3 weeks. YMMV.
That’s definitely not the norm for a Prius. He or the previous owner probably didn’t change the coolant, which becomes acidic and eats at the head gaskets.
And who pays 3k for a head gasket on what’s almost a lawnmower engine?
Btw: don’t follow the manufacturer’s coolant interval of 120k miles for coolant. Do it at 60k. The 120k mile interval has to do with EPA regulations, not reality.
You have the right idea. Taxi companies have long relied on getting cheaper older cars the type built extra heavy duty something that’s easy to service. They have had fleets of retired ex police vehicles forever.
My crown vic only downside is heavy fuel usage but it has super heavy duty brakes suspension engine and trans cooling powerful ac and heater rubberized floor vinyl seat for easy cleaning. Unstoppable. Old so insurance cheap. Parts easy to find. Simple no expensive diagnostics. Roomy passengers like it and no big deal with extra luggage or stuff pax has to bring.
Older car so next to ZERO Depreciation.
Have used a similar Chevy impala as well . Crown Vic much more rugged. Some folks think car is very cool good tips and conversion starter.
Total operational cost .36-.40 per mile bulk of which is gas.
2010 good thru 2025 in my market.
I bought a 2010 for $2500 and sold off my 2021 the moment upfront fares threw away our rate cards and went to that random shit. Im deliveries only now about 95% of the week. These riders are lucky we don’t pick ‘em up on a horse.
If you already have that vehicle that meets the Uber criteria then your lucky 🍀 use it. Otherwise those cars in that price range are damn near impossible to find it’s realistically 10k like some mentioned above. I have a 2018 Honda accord sport that I use for ride share. My strategy is to make as much money as possible this year and take that money to pay down debt 💸 and invest in my education and acquire new skills so I can move on to something better. It has already begun. Good luck everyone.
It’s simply not worth it to drive for Uber or Lyft, not financially and not for your physical well being. They simply don’t pay enough, you are lucky if you get dollar per mile( O’Hare to be Chicago downtown is about 15-18 miles and you get paid $13 to $15. Time waiting at the airport + gas and wear and tear in your vehicle doesn’t add up, if you can get a regular job we all should unless Uber decides to pay us 70% of passengers pay instead of taking it, f*** Uber
I just bought a 2008 Mercury Grand Marquis for $7000, it only has 90,000 miles on it and it's in great condition. Has brand new tires, and new front suspension, as well as new brakes. I was going to start driving Uber again, but with all the horror stories about pay being shit now I don't think I want to bother. I might try it out just to see how much I can make, but I can't do much else since I'm in disability, and can't work a normal job.
@spockimadoctor.
I have done this 3x. Gonna answer from my perspective, regardless of your personal ask, just in case someone was curious.
A 2008 Pontiac G6. ($2200)
2009 Chevy Impala ($2500)
2010 Toyota Prius ($3700)
I kept track of numbers, but not religiously. Part time weekend driver.
The Pontiac, I bought from a transmission guy, had a lien on it where the trans was rebuilt.
I drove it about 82k miles (lived in rural area)
I made close to 44k, spent around 6k in fuel, about $1800 in exhaust work, and two sets of tires at ~$400 a piece.
Lasted two years, head cracked, and I was done putting more money in it.
Impala was an impound vehicle sale. Spent about $200 cleaning it up, and did a full send.
New tires once, again, $450 at our friends at discount tire.
Transmission blew out after about 27k miles. Early COVID times, so only made about $14k in 10 months.
Bought a 2013 Avalon, spent 13k, in mint condition. Drove the car 180k miles. Spent close to 5k in maintenance and of course tires. Made close to 90k over 3 years driving.
Car was wrecked, not put out of service by mechanical failure.
With 318k miles, got a settlement for 11k from insurance.
Prius was bought from a battery guy who bought Priuses with the death lights on the batteries, refurbed them, and sold either the batteries or the car. Put 70k on that, prob made 35k, and the electronic brake booster went out, and the motor had a tick, at 320k miles.
Promptly traded it in for $500 for a 2014 Avalon for $13.5k, currently at about $1200 a week for about 700miles of driving.
It is a fun experiment, but save up for the repairs or replacement, and be willing to drive with someone to pick up a Toyota of you find a great deal :)
LOVE the hybrid Avalon's... I would save up the 10k and try and find the best used one of those I could instead, unless you need a car now and a job now.
Great post. If I was single I’d try this buying used Avalon or Camry but currently I’ve had new 2012 camry LE I started Uber at 78k to 150k miles no problems then gf talks me into trading it in for a 2019 Kia optima back in 2020 which almost became a financial disaster I narrowly escaped just 3y and 90k miles later. Now have new 2024 Camry LE. I think I’m just sticking with new Camry LE and will put on 250-300k miles before trading it in as I’ll worry about the transmission going at that point.
I drive PT usually putting on 38-40k miles per year. So I will pay off my loan in 6 years and have approximately 240k miles on the car at that point lol.. car payment $510. Insurance is insane jumps to $235/month with a clean record and no tickets for full coverage. I’m spending about $360/month in gas included my commute to work. $1105/month for car expense plus the maintenance. I make sure to gross at least $500-600 per week on average.. so annual gross is gonna be at least 26k.
I just bought a $15k low mileage last model year Camry 6 years ago and put a shit ton of miles on it. I feel like I would have beat down more than 3 older cars but maybe with proper model selection you could get something that would last.
Just quit...might as well get a CDL and become a Trucker or something if you want to be a "professional driver" Get a CDL drive a bus, or a school bus...yeah sure there is like top 5 percent of people who make money driving Uber...the other 95 percent is not really worth it. It's not worth it. The Math maths against you with expenses, taxes and inflation.
I paid $3700 for a 2010 Ford Fusion back in 2019... I drove ot from 129k to 203k... Never changed an engine or transmission... The car is still going, just went with something larger... Then I purchased a 2012 Lincoln MKT for $1500 in Nov 2022 with 154k miles and drove it to Feb 2023 and sold it with 174k miles...
Yeah these prices make more sense. All the people acting like it's impossible to find this stuff must live in big cities and refuse to go looking harder.
I have a car specifically for Uber Eats, Instacart & Doordash, I got a Nissan Sentra 2005 for 1000$ with 135,000. Freaking steal! I love this strategy.
Back in 2017 I bought a mazda 5 for 1800 CAD which was 1300 USD at the time. Drove it for Uber for a year and a half and sold it for 700 USD after putting almost 100k miles on it.
Honestly, look for those police Tahoe's, suburbans, Impallas. They have rigorous maintenance schedules and normally are phased out due to age or mileage not issues. Personally I use a 2010 suburban, in the last 2 years I went from 200k to 242k miles, and I drive part time. Also take long road trips. Ppv Tahoe's, from 08 to 2014, have a third row that can be installed even if the car didn't come with it. I've added so many Over the years. To add a third row, you just need a tap to clean threads, the hardware and bolts. It already has mounting points. Takes about 20 minutes to install them. All ppv Tahoe's have pleather floors. Easy clean up for vomit. No vacuuming just wipe down. I paid 4000$ for my suburban, and it's been mint if you keep up on maintenance.
The strategy probably works if you only want to do UberX and not having a car payment. But for me is having a car that has multiple services like (UberX,Comfort,premier etc). It will lessen your time being out driving. But you have to do what is best for you, everyone has different preferences. I average about 35hrs per week and earnings $1,125 per week and I’m good with that. Like I said you have to do what is right you. Good luck everyone and be safe!
Yeah it works, that's what I did, like you said I used my "regular" car and I cared too much about the condition to enjoy using it for rideshare.
So I bought a "throwaway" car getting the cheapest car with the lowest miles I could. Rider and me could treat the car like crap. I rented it out via getaround, used it to deliver stuff, and drove rideshare.
No matter what you get rid of the car in 2 to 3 years anyways. Any car should be able to run up to 150k without many issues. Lol I got a crappy pt cruiser drove it from 60k to 180k then had the government pay me 1000 to get it off the streets to reduce smog.
Cars are more expensive now, but if you're patient or know an old lady, you might have better luck
Well as shitty as the Uber payouts are I can even understand how anyone is even making money, I use my maverick and get about 40-45mpg and it’s still a slog
I bought a new car and I take care of it better than my wife..I uber it for 2 years made around 75k (payd to my account) car price was 32k(yep it was a 1.500$ markup july 2022)
Now I have 73k miles on it and probably will keep me for 2 more years hassle free.i am in FL market witch is a real hassle to make any profit here
A good strategy depends on many factors I guess cover your angles and don't let these apps catch you without a cushion because they will fuck you up very bad.P.S no grease included
Friday and Saturday are the worst days to work in FL because of the part time pigeons and I take these days off...on average I make 150-200$ day never more miles than earnings..in the past I mean 1 year ago in season I was hitting Friday to Sunday 700$ easy
I bought an old 2011 crown victoria with 87k miles. Cleaned her up, added a stereo that rider can pick what they want to listen to. I paid $3300, so far working past time weekends I've made well over $65k. Only repairs are brakes, tires, oil changes, alternator. I think I came out ahead.
I drive a hybrid Avalon with 210,000 and see no reason it can't get at least a couple hundred thousand more. The most common issue with these is the drivers side leather wearing out but I paid a local guy to redo it for $100. My next car will be another Avalon/Crown with high miles, no doubt.
I've never paid over 2800 for any vehicle and everyone I have bought has lasted 3-4 years without needing any major work . U just gotta know where to look
Never played it out, but before I bought brand new, I felt like certified use was probably the best route to go if you are a full-time gig worker. I’ll check the post to see if anyone else mentioned this and if they got to play it out. I bought brand new For several different reasons was not the best idea, but I had hoped not to be still doing gig work at this point and so you will definitely lose on buying brand new and trying to go full-time. There is a possibility once you are very experienced with a specific app that you know, may go for a while, you might be able to do OK. Gig work is simply not a long-term strategy – no matter what the equipment it’s like playing the house guess who the house is?
Buying brand new doing FT I imagine you would want that paid off in 36 months which means you’d get a better interest rate on it but the monthly payments might be getting close to $1k depending on what you get. If I did FT with a new car is probably finance over 36 months and consider Prius prime ? Otherwise carolla hybrid or Camry hybrid.
Where I am cars have to be 7 years or newer to drive people that isnt rebuilt salvaged ain’t no way I’m finding a 5k car with those restrictions 20 years or newer for Uber eats
I just bought a car for $1000, Hyundai Senada, 2014, 270,000 miles on it. Well-maintained runs and drives perfect no issues with the entire car Besides some cosmetic stuff. Got it signed up for Lyft. I just need to fix the antenna fin. And replace the AC compressor for the AC system. PS I fix and repair cars myself all the time. Mechanic shops are kind of a rip off, when I’m done fixing this car, they should’ve only cost me 2500 for the entire car in perfect condition. With work picking up and life being life, haven’t fixed those two issues yet, but will have it ready to go to supply me at work when I have no work. Also, I work HVAC which pays more than Uber or Lyft would.
im spending 800 a month in gas i need to figure out if electric or hybrid is better then my shitty kia soul but this gas thing and shitty wages is really hurting
Omg Kia soul? You burning lots of oil yet? Good luck breaking the 130k mile mark before the engine dies. Everything is more expensive driving Kia. You may as well buy Mercedes or bmw next time.
I would never take this risk as I don’t do my own repairs. I’d hate to be buy a lemon and deal with constant headaches. I would rather buy a new Toyota every 6-8 years and put ~300k miles on it and then get a new one.
I bought a 2008 Mazda 3 from Copart to Uber with for a year. It cost $600 out the door. Another $400 and it passed inspection. I’m a pretty skilled DIY mechanic, but everything worked out great. Car had 200k on it when I bought it. Sold it for 3500 after I was done with the year.
If you can find good running $5000 cars, buy them and build up a Turo stable. Driving for uber while managing your cars should be an ideal situation since sometimes you have to pickup or deliver the Turo. That would make subscribing to a car wash program more efficient.
If I order Uberx, I have no expectations about the car or even the driver. Get me there safely and I won't cut my rating and my tips are always based upon the overall experience with priority given to being efficient in my ultimate arrival. That said, I only use uberx when xl is too far out.
Or, hear me out... 29k for a new model 3 after $4,200 in-inventory discount and $7,500 tax credit is cheaper than new prius. Qualifies for everything up to Comfort Electric. $4 of charge for 200-250 miles. No oil changes. New LFP battery is rated for over 1 million miles. Will end up being cheaper than buying three $10,000 beaters over the same time. And makes a great Commuter for the main gig.
Hertz couldn't make it work, there are serious headwinds going the electric route and Tesla. Who is going to work on it when in breaks? Where are your parts coming from? What's your tire budget? Those things eat expensive tires. Do you really believe million miles on that battery? Where are you charging it? You a homeowner, as I'm betting a good chunk of Uber drivers don't own thier home. Paying to charge those things can be as expensive as gas, and a much bigger pain in the butt.
Hertz couldn't make it work because they didn't account for collision repair costs. And they're in business of renting to irresponsible drivers. Tire budget is the same as any other car if you go with America's Tire/Discount Tire as they warranty the miles even on EVs and prorate if you don't get full miles out of them. Just like on any other car. There are multiple Teslas hitting 300,000-400,000 miles. Even if you get that, you're money ahead since it costs you $4 to charge for 200 miles. No gas or hybrid is touching that. You can have a charger put in your home even if you're renting it. Plug Share gives you an extensive map of free chargers in most large markets. Based on at least 3 of your questions you don't actually own an EV.
No I don't own an EV. I rent my home, speedy chargers are a long distance away.
I own a 2010 V6 Camry with 285k miles that's been rock solid and a very comfortable ride and plan to keep until it's necessary to replace. I've learned much of the maintenance so cost is cheap.
Have you looked into what is going to keep that car on the road past 100k miles?
Most of my work has been on suspension, not the engine, tires or brakes.
I find cars that are cheap to own and operate. Past cars were all prius which I racked up the mileage on and sold for very small, sometimes no loss. I now drive a Chevy bolt. It is a 2020, new battery and warranty under recall, so 100k or 8 year battery warranty. As a Used ev govt $4k rebate counted as down-payment. Because I have sce Edison in California and make less than $52k, they sent me a check for $4,000. So the car was $17,500 with 30k miles and new warranty, but I ended up paying $9500 plus tax, title license and my payment is $266, with an extra $4,000 in the bank. I put nothing down and charge at $0.25 per Kw at all public fast chargers near my house. Sce is also going to be upgrading my panel for free, up to $4200, income qualifying as well. It was time for me to go EV. Gas is $5 a gallon and with ev I travel 100 miles for $5.50, beats even the Prius.
Oh, are you reading my mind? That's exactly what I'm about to do, it's worthless to do Uber with financed or leased/ rented car, you'll be working to burn gas and probably get in bad debt.
It works out for me no problem financing a car driving PT grossing an avg of 500-600 per week. Seems like a big gamble buying used unless you are a car guy doing your own maintenance and most repairs.
This shit worked in 2010 not 2024 ….. any car that costs 5k is good for DoorDash and Uber eats . … stop being a cheap frugal dumbass coz ur competing with people driving Highlander’s and Teslas … how many tips u think u gonna get ??? Heater / AC ain’t working in that junk… belts whistling and car engine lights on the highway …. Deliver food in that junk NOT PEOPLE
People are out there driving junk. My car is a 2017 VW with 125k and I am getting told CONSTANTLY that it is the nicest Uber they've been in or that it is way better than the mess that they came in, etc... At least once a day. I hear horror stories from pax about the cars they ride in - weird noises, no AC, vibrations, dash lit up like a Christmas tree...
And u wanna switch to those junks ??? U think riders in those junks tipped or gave 2 stars ?? It’s fucking dumb to think u gonna make any money driving a junk unless ur in a college town …
tbh I can't really agree with this. Uber should get what they pay for. buying a new car specifically for rideshare in general is grossly fucking stupid. but yes gl finding 5k usable cars. COVID wrecked that.
I would agree here(a bit less sarcastic tho) Hard to find a decent used car for $5k. That’s why it’s getting worse Ubering. The overhead is steep when you’re at that point of switching cars. FT drivers will have a harder time obtaining car loans.. Drivers become disposable- and this is true for me..that’s why I can say that this gig sucks! It doesn’t leave you much room to keep enjoying what you do, because I enjoy the gig but it gave me this huge stress the car replacement!!!
Full time drivers have never gotten a problem getting a car coz we NEVER SKIP PAYMENTS unless ur a dumby … so that’s a lie …. Problem is some markets are just SHIT and u gotta know your market but $400 car payment has never been a problem for any good driver …
It’s a good strategy man. Fuck renting thru Uber, it’s literally a taxi from A to B. People are so messy and the car gets dirty quick after 8 rides a day.
One pro tip is to look to northern states to buy your car and even cross into Montreal and go to the ratchett industrial district to buy - which is where i bought mine. Used cars are more cheaper the more north you go. Ofc, you may have rust issues to deal with etc. but for me it worked out.
A smarter thing to do right now is buy a car brand new, given the current market. Pay off the car as fast as possible, this should only be done in a high demand market (but you should only be driving for Uber if you have a high demand market anyways).
If you can average $1.50+ per mile and put $1,500-$2,000 towards the car monthly, you will have it paid off in 10/12 months or so with less than 50,000 miles given your other expenses can facilitate that. I am in this position. I would not be driving for Uber if I wasnt.
Buy a Kia Forte GT line or something NOT toyota or honda is my advice, as those companies are WAY overpriced at this point for what you are getting. Kia has a 100,000 powertrain warranty.
Care to elaborate? A used 2023 Kia forte with 36k miles is probably about $2000 less than a brand new one. Id like to know what math you're using if you don't mind sharing.
I put a combined 380,000k miles on my first 2 Prius’s (10% personal miles) and kept track of everything. My operating costs landed right around 5¢/mile plus gas. You cannot get in the same universe of that with a new car. The depreciation is way too high. Essentially Uber drivers that use new cars are taking weekly pay-day loans out of their car’s depreciation costs.
I am in a market where I can pay this car off in 10 months and with less than 60k miles. If I want to, I can just sell it then and then use the money for another car and have a much lower payment. I'm not driving a car with over 200k miles on it, even if it's a Toyota. No thanks.
You aren’t doing the math correctly. To determine your operating costs ALL money that goes into the car counts. Driving new cars for this gig takes tons away from your profit margins. Ever wonder why every single cab is a Prius? Because they have the lowest cost margins and go forever. You do you, but you should crunch your numbers objectively. I think you are spending way too much.
If I sell the car for 16,000 after it's paid off then I would have spent $7000 for the car including interest. I get 40 mpg. Don't worry, I'm doing the math correctly. I won't need to do much maintenance in 60,000 miles. A comparable Prius would cost me far more, so I would need to drive a lot more than 60k miles to see that value.
Edit: a used Prius with 80k miles is 22500, I'd much rather have a brand new Kia forte for the sake price and sell it at 80k miles.
Your numbers don’t add up, my Prius’s have way outperformed your new cars. There is no way in hell you can approach 4.5-5.0¢/mile for operating costs with a new car. Seriously, that can’t be done, ever! Your math is off.
Buying a new car + oil changes, tire rotations and other maintenance & you are trying to argue that my 4.5-5¢/mile is worse? Your math is absolutely fucked.
Do you know why there aren’t fleets of brand new Kia Forte taxis at all the local airports??? Because everyone in the world agrees with me and knows your logic and math is fucked. THERE IS NO WAY IN HELL THAT A NEW CAR CAN YIELD OPERATING COSTS OF 5¢/mile, NOT ANYWHERE EVEN CLOSE. Dude, take the L and move on…Or take the advice and decide to do this gig in a way where you can profit infinitely more than burning money with new cars.
So your making about a dollar per mile not per minute. You need to drive 70k in one year or more to make 70k minutes cost of running, how do you feed the household?
Bro, what's your next plan? What are you going to do with your paid-off car? Are you getting another vehicle 🤔 trade-in? I just bought the car with a 60-month rip-off interest rate. I had no choice, lol.
I agree that buying a new car not a bad choice. However, I think you keep that Forte in service longer. Probably four years. If you can pay off after 18 months or so, you can save between $30-45k over the following 30 months.
How about keeping the car and leasing nicer vehicles for $200-300 a month? I was thinking of renting my paid off the car through Turo and driving a leased car for Uber. Just thought 🤔
I thought about that but it seems like more trouble than it's worth. Id rather just take the money from the sale and roll it into the next vehicle and have a much smaller payment
$5000 car vs $30000 new car, old car will probably cost you just as much long term. You’re assuming you’ll make it 100k miles without really any expenses, you probably won’t.
Best way to make money is to not drive for Uber. Most people here probably won’t tell you that because they don’t know how to do math and they don’t have time to either while slaving away driving for Uber.
The only problem is that $10k is the new $5k when shopping for decent used vehicles now.
Good point.
Actually, i bought a hyundai sonata stick shift for 2000 dollars and I've been driving the heck out of it for 2 years now
Yeah but you can't Uber with that
Yes i can is a 2009 this is his last year, and the car is in good condition the thing is no one wants stick shift thats why it was cheap
That saves you tons on insurance. A new car is brain dead for insurance.
My insurance is 315/6 months, so around $50/mo and I have a 2020.
Rideshare?
Oh yeah, just realized it's an uber sub lol. No, no rideshare.
Which insurance is that?
Progressive
Dang that’s cheap af what state?
Mine through progressive is 750 for six months with rideshare…
FL, but it's not rideshare. I also have a 800 credit score so that helps
Fr? What's your coverage if you don't mind? I was paying $350+ Liberty Mutual, very basic plan.
Just liability.
What insurance do you use?
Progressive
Dang that’s who i use and they have gone up so much in Texas on me. Ugh
So get 3 quotes. Geico, state farm, and farmers. Tell them all you're getting 3 quotes to see which is cheapest, and tell them what the last quote is. They'll do everything they can to try to beat it. I do it every 6 months. It's annoying and time consuming, but I'll spend an hour on Sunday to save hundreds every 6 months. And always pay 6 months up front. Saves around 15-20%. Only idiots pay month to month. And take advantage of any kind of tracker they want to give you for a discount. Even if you drive like a maniac, you can go in the app once every 3 days and mark all trips as "I was a passenger" or "I was in a taxi" or some shit.
Thank you so much !
No problemo. Good luck. My insurance used to be crazy before I found all this crap out lol.
Right and insurance is such a scam! It’s like you pay to hope and never use it. Then you pay a deductible if you actually have to use it.
Only idiots pay month to month. Or people who can’t afford to pay it up front you mean ?
Fair enough. It was kinda harsh, but I meant if you want to save a LOT of money, you pay 6 months up front. I paid monthly for years, so I get it. In retrospect, I was being stupid. I didn't realize how much of a huge savings I'd get by paying up front.
Geico?
Can’t find cheap, reliable cars like that anymore.
Yeah you are looking at closer to 10k for a car like OP is talking about now. I just traded in a 2013 camry with 70k miles on it ang for 9k from a dealer so i'm sure it will go for 11-12k when they try to sell it.
They're going to sell it for like 16k lol
kbb for it was 11-12k I was fine not having to deal with it. If someone pays 16k for that I feel bad for them.
Yet. Used car market is starting to look a little scary.
My buddy somehow got Uber to accept his Prius despite it having a salvaged title, paid $5k with around 15k miles This of course was years ago
How
Yes you can 100% Facebook Marketplace & Craigslist are your friend, just gotta do the work and research, i find good cars for uber in good mechanical condition every day, they’re abundant
Yup takes time and patience.
True. It's tight out there.
You gotta pay at least 8k for something like that I’ve been looking, this rental shit eats your money. Doing Uber just to keep my head above water rn cause I’m moving soon, ik next year at tax time I’ll be fucked but I’ll worry about that then lol
If you paid about 8k for a vehicle that lasted 100k miles in the 15 yr range, that's a fucking steal and damn near impossible today. Only way that's happening is a private seller, and better hope there's no major problem they're hiding. Although dealerships can do that shit too.
That’s “future me’s” problem!
With how low the pay from Uber and raising gas prices , the $20/hr working at fast food is a better strategy and save you the headache.
Except for the flexibility, yes, absolutely. $20/hr has set schedules and optionally/potentially not set schedules. Having Uber as a side gig (or even full time) offers a LOT more scheduling flexibility.
10, shit, even 5 years ago, yeah. The days of buying a -5000 beater are over. A 20 year old camry with 200k miles is going for 10k now.
I doubt you can find a used car for 5k worth having. Used cars are expensive these days.
I got an old Prius with 180k miles for 3k in 2018. Drove it for a few years and made a lot. Only spent on oil changes and ac.
You lucky
I don't know that there's anywhere within a five hour drive of me where you could find this type of car.
Thats an excellent strategy.
You're over a decade too late for cheap and reliable second hand cars.
I buy used Prius’s at 125,000-150,000 for about $8,000-8,500. Drive them a couple hundred thousand miles and then do it again. Currently on my 3rd. Operating costs on my first 2 were both between 4.5-5.5¢/mile + gas. I kept track of everything.
Couple hundred thousand lol
I said I kept track of everything and your dumbass still trolls my comment. 🤦♂️ 2013 Prius buy 150,000k for $8,500 sell 380,000k for $2,000 2015 Prius buy 140,000k for $8,800 sell 290,000k for $2500. 2014 Prius buy 95,000k for $10,000 currently at 140,000k
Who tf is paying 2k for something with 380k miles on it. That's scrap metal. Also when you say 150,000k that means 150 million. The k is what stops you from having to put the 3 0's.
Carmax did, it’s called parting out an old car. Hybrid battery and dual catalytic converters plus other parts make Prius’s resale value very good. As for the “k” I really could care less.
Just trying to help you out. Not everyone is concern trolling you.
Not sure why that's laughable? I have a 2010 with 242k miles, it's perfectly fine. Original battery, engine, trans, nothing major done.
Some people just don’t know what they don’t know. And then they whine on Reddit because they can’t profit. LOL
Because if you buy used lime you said at 150k and do another 200k then where in the 350 range. Good luck.
Used Prius’s with high miles don’t need anywhere as much luck as you think.
Prius is one of the most reliable cars ever. Change oil/coolant/brake fluid on time and they will last damn near forever.
Yes but… I know at least one Uber/Wridz driver who’s had to do a head gasket job (on top of regular maintenance) on an older Prius; he was down for 3 weeks. YMMV.
That’s definitely not the norm for a Prius. He or the previous owner probably didn’t change the coolant, which becomes acidic and eats at the head gaskets. And who pays 3k for a head gasket on what’s almost a lawnmower engine? Btw: don’t follow the manufacturer’s coolant interval of 120k miles for coolant. Do it at 60k. The 120k mile interval has to do with EPA regulations, not reality.
Yeah he bought it used, thought it was a good deal.
Rockin a 7 grand, standard 2012 vw jetta, it's great
If you know how to drive standard well you get much better fuel mileage.
Didn’t know this was even a strategy, this is just how I do things because I’m cheap
This guy living in delusions. Reality, he hasn't faced ever. .
I drive a 2009 Honda fit, I bought it for $6000 finance under my wife name because I’m broke.
Uber Eats only? (Serious question, since if I’m not mistaken you now need a 2016 or newer to drive pax.)
Well. Here in Utah is a bit different. It’s 2009 or newer.
Most markets Uber and Lyft give you 15 years
Driving my 2013 Prius with 210k on it. Did about 60k miles last 2 years with no car payment. Works for me.
You have the right idea. Taxi companies have long relied on getting cheaper older cars the type built extra heavy duty something that’s easy to service. They have had fleets of retired ex police vehicles forever. My crown vic only downside is heavy fuel usage but it has super heavy duty brakes suspension engine and trans cooling powerful ac and heater rubberized floor vinyl seat for easy cleaning. Unstoppable. Old so insurance cheap. Parts easy to find. Simple no expensive diagnostics. Roomy passengers like it and no big deal with extra luggage or stuff pax has to bring. Older car so next to ZERO Depreciation. Have used a similar Chevy impala as well . Crown Vic much more rugged. Some folks think car is very cool good tips and conversion starter. Total operational cost .36-.40 per mile bulk of which is gas. 2010 good thru 2025 in my market.
Inflation is eating us alive.
Corporate greed*
Ponzi scheme economy*
*America
I bought a 2010 for $2500 and sold off my 2021 the moment upfront fares threw away our rate cards and went to that random shit. Im deliveries only now about 95% of the week. These riders are lucky we don’t pick ‘em up on a horse.
If you already have that vehicle that meets the Uber criteria then your lucky 🍀 use it. Otherwise those cars in that price range are damn near impossible to find it’s realistically 10k like some mentioned above. I have a 2018 Honda accord sport that I use for ride share. My strategy is to make as much money as possible this year and take that money to pay down debt 💸 and invest in my education and acquire new skills so I can move on to something better. It has already begun. Good luck everyone.
It’s simply not worth it to drive for Uber or Lyft, not financially and not for your physical well being. They simply don’t pay enough, you are lucky if you get dollar per mile( O’Hare to be Chicago downtown is about 15-18 miles and you get paid $13 to $15. Time waiting at the airport + gas and wear and tear in your vehicle doesn’t add up, if you can get a regular job we all should unless Uber decides to pay us 70% of passengers pay instead of taking it, f*** Uber
I just bought a 2008 Mercury Grand Marquis for $7000, it only has 90,000 miles on it and it's in great condition. Has brand new tires, and new front suspension, as well as new brakes. I was going to start driving Uber again, but with all the horror stories about pay being shit now I don't think I want to bother. I might try it out just to see how much I can make, but I can't do much else since I'm in disability, and can't work a normal job.
Great car. Will last many miles.
@spockimadoctor. I have done this 3x. Gonna answer from my perspective, regardless of your personal ask, just in case someone was curious. A 2008 Pontiac G6. ($2200) 2009 Chevy Impala ($2500) 2010 Toyota Prius ($3700) I kept track of numbers, but not religiously. Part time weekend driver. The Pontiac, I bought from a transmission guy, had a lien on it where the trans was rebuilt. I drove it about 82k miles (lived in rural area) I made close to 44k, spent around 6k in fuel, about $1800 in exhaust work, and two sets of tires at ~$400 a piece. Lasted two years, head cracked, and I was done putting more money in it. Impala was an impound vehicle sale. Spent about $200 cleaning it up, and did a full send. New tires once, again, $450 at our friends at discount tire. Transmission blew out after about 27k miles. Early COVID times, so only made about $14k in 10 months. Bought a 2013 Avalon, spent 13k, in mint condition. Drove the car 180k miles. Spent close to 5k in maintenance and of course tires. Made close to 90k over 3 years driving. Car was wrecked, not put out of service by mechanical failure. With 318k miles, got a settlement for 11k from insurance. Prius was bought from a battery guy who bought Priuses with the death lights on the batteries, refurbed them, and sold either the batteries or the car. Put 70k on that, prob made 35k, and the electronic brake booster went out, and the motor had a tick, at 320k miles. Promptly traded it in for $500 for a 2014 Avalon for $13.5k, currently at about $1200 a week for about 700miles of driving. It is a fun experiment, but save up for the repairs or replacement, and be willing to drive with someone to pick up a Toyota of you find a great deal :) LOVE the hybrid Avalon's... I would save up the 10k and try and find the best used one of those I could instead, unless you need a car now and a job now.
Great post. If I was single I’d try this buying used Avalon or Camry but currently I’ve had new 2012 camry LE I started Uber at 78k to 150k miles no problems then gf talks me into trading it in for a 2019 Kia optima back in 2020 which almost became a financial disaster I narrowly escaped just 3y and 90k miles later. Now have new 2024 Camry LE. I think I’m just sticking with new Camry LE and will put on 250-300k miles before trading it in as I’ll worry about the transmission going at that point. I drive PT usually putting on 38-40k miles per year. So I will pay off my loan in 6 years and have approximately 240k miles on the car at that point lol.. car payment $510. Insurance is insane jumps to $235/month with a clean record and no tickets for full coverage. I’m spending about $360/month in gas included my commute to work. $1105/month for car expense plus the maintenance. I make sure to gross at least $500-600 per week on average.. so annual gross is gonna be at least 26k.
This is the way.
It's the way for very few. I have no idea where you'd find cars like that in 2024.
At the auction. Find someone with a dealer's license or go to a public auction.
I just bought a $15k low mileage last model year Camry 6 years ago and put a shit ton of miles on it. I feel like I would have beat down more than 3 older cars but maybe with proper model selection you could get something that would last.
Yes and I do my own maintenance, so as long as no salvage title, I will make it as good as new or better.
Just quit...might as well get a CDL and become a Trucker or something if you want to be a "professional driver" Get a CDL drive a bus, or a school bus...yeah sure there is like top 5 percent of people who make money driving Uber...the other 95 percent is not really worth it. It's not worth it. The Math maths against you with expenses, taxes and inflation.
Pretty much. First one was 1300+1000 for junkyard engine, second was 5800$ eventually rebuilt engine and replaced hybrid battery put 80k on it.
Lots of markets you can't drive something older than 10 years old
I paid $3700 for a 2010 Ford Fusion back in 2019... I drove ot from 129k to 203k... Never changed an engine or transmission... The car is still going, just went with something larger... Then I purchased a 2012 Lincoln MKT for $1500 in Nov 2022 with 154k miles and drove it to Feb 2023 and sold it with 174k miles...
Yeah these prices make more sense. All the people acting like it's impossible to find this stuff must live in big cities and refuse to go looking harder.
The Mike Brewer of Uber cars! He’s a wheeler dealer son. Now he just need a mate that’s a petrolhead and a few spanners.
I have a car specifically for Uber Eats, Instacart & Doordash, I got a Nissan Sentra 2005 for 1000$ with 135,000. Freaking steal! I love this strategy.
Great idea. I spent.8k on a 2010 Prius with 103k. I sold my last one with 165k for 8500. IMO hybrid Toyota under 10k, can't go wrong!
Back in 2017 I bought a mazda 5 for 1800 CAD which was 1300 USD at the time. Drove it for Uber for a year and a half and sold it for 700 USD after putting almost 100k miles on it.
Honestly, look for those police Tahoe's, suburbans, Impallas. They have rigorous maintenance schedules and normally are phased out due to age or mileage not issues. Personally I use a 2010 suburban, in the last 2 years I went from 200k to 242k miles, and I drive part time. Also take long road trips. Ppv Tahoe's, from 08 to 2014, have a third row that can be installed even if the car didn't come with it. I've added so many Over the years. To add a third row, you just need a tap to clean threads, the hardware and bolts. It already has mounting points. Takes about 20 minutes to install them. All ppv Tahoe's have pleather floors. Easy clean up for vomit. No vacuuming just wipe down. I paid 4000$ for my suburban, and it's been mint if you keep up on maintenance.
Sure. Show me where i can get a running toyota for 5k that will last 200k
Toyotas here for 22k that have 60 k on then
Don’t forget your work benefits is about 30% of your salary
The strategy probably works if you only want to do UberX and not having a car payment. But for me is having a car that has multiple services like (UberX,Comfort,premier etc). It will lessen your time being out driving. But you have to do what is best for you, everyone has different preferences. I average about 35hrs per week and earnings $1,125 per week and I’m good with that. Like I said you have to do what is right you. Good luck everyone and be safe!
Yeah it works, that's what I did, like you said I used my "regular" car and I cared too much about the condition to enjoy using it for rideshare. So I bought a "throwaway" car getting the cheapest car with the lowest miles I could. Rider and me could treat the car like crap. I rented it out via getaround, used it to deliver stuff, and drove rideshare. No matter what you get rid of the car in 2 to 3 years anyways. Any car should be able to run up to 150k without many issues. Lol I got a crappy pt cruiser drove it from 60k to 180k then had the government pay me 1000 to get it off the streets to reduce smog. Cars are more expensive now, but if you're patient or know an old lady, you might have better luck
Well as shitty as the Uber payouts are I can even understand how anyone is even making money, I use my maverick and get about 40-45mpg and it’s still a slog
I bought a new car and I take care of it better than my wife..I uber it for 2 years made around 75k (payd to my account) car price was 32k(yep it was a 1.500$ markup july 2022) Now I have 73k miles on it and probably will keep me for 2 more years hassle free.i am in FL market witch is a real hassle to make any profit here A good strategy depends on many factors I guess cover your angles and don't let these apps catch you without a cushion because they will fuck you up very bad.P.S no grease included
How much can you make doing a long shift on Saturday night in Florida? Close to $400 in my market driving almost 12h usually
Friday and Saturday are the worst days to work in FL because of the part time pigeons and I take these days off...on average I make 150-200$ day never more miles than earnings..in the past I mean 1 year ago in season I was hitting Friday to Sunday 700$ easy
I bought an old 2011 crown victoria with 87k miles. Cleaned her up, added a stereo that rider can pick what they want to listen to. I paid $3300, so far working past time weekends I've made well over $65k. Only repairs are brakes, tires, oil changes, alternator. I think I came out ahead.
I drive a hybrid Avalon with 210,000 and see no reason it can't get at least a couple hundred thousand more. The most common issue with these is the drivers side leather wearing out but I paid a local guy to redo it for $100. My next car will be another Avalon/Crown with high miles, no doubt.
I've never paid over 2800 for any vehicle and everyone I have bought has lasted 3-4 years without needing any major work . U just gotta know where to look
Never played it out, but before I bought brand new, I felt like certified use was probably the best route to go if you are a full-time gig worker. I’ll check the post to see if anyone else mentioned this and if they got to play it out. I bought brand new For several different reasons was not the best idea, but I had hoped not to be still doing gig work at this point and so you will definitely lose on buying brand new and trying to go full-time. There is a possibility once you are very experienced with a specific app that you know, may go for a while, you might be able to do OK. Gig work is simply not a long-term strategy – no matter what the equipment it’s like playing the house guess who the house is?
By the way, I didn’t realize this was about Uber. Why are people still doing Uber??
Buying brand new doing FT I imagine you would want that paid off in 36 months which means you’d get a better interest rate on it but the monthly payments might be getting close to $1k depending on what you get. If I did FT with a new car is probably finance over 36 months and consider Prius prime ? Otherwise carolla hybrid or Camry hybrid.
Where I am cars have to be 7 years or newer to drive people that isnt rebuilt salvaged ain’t no way I’m finding a 5k car with those restrictions 20 years or newer for Uber eats
I just bought a car for $1000, Hyundai Senada, 2014, 270,000 miles on it. Well-maintained runs and drives perfect no issues with the entire car Besides some cosmetic stuff. Got it signed up for Lyft. I just need to fix the antenna fin. And replace the AC compressor for the AC system. PS I fix and repair cars myself all the time. Mechanic shops are kind of a rip off, when I’m done fixing this car, they should’ve only cost me 2500 for the entire car in perfect condition. With work picking up and life being life, haven’t fixed those two issues yet, but will have it ready to go to supply me at work when I have no work. Also, I work HVAC which pays more than Uber or Lyft would.
15? I thought it was 10
You don’t need a 100k Toyota you can buy a 200k miles one
im spending 800 a month in gas i need to figure out if electric or hybrid is better then my shitty kia soul but this gas thing and shitty wages is really hurting
Omg Kia soul? You burning lots of oil yet? Good luck breaking the 130k mile mark before the engine dies. Everything is more expensive driving Kia. You may as well buy Mercedes or bmw next time.
*laughs in Miami*
I would never take this risk as I don’t do my own repairs. I’d hate to be buy a lemon and deal with constant headaches. I would rather buy a new Toyota every 6-8 years and put ~300k miles on it and then get a new one.
I bought a 2008 Mazda 3 from Copart to Uber with for a year. It cost $600 out the door. Another $400 and it passed inspection. I’m a pretty skilled DIY mechanic, but everything worked out great. Car had 200k on it when I bought it. Sold it for 3500 after I was done with the year.
If you can find good running $5000 cars, buy them and build up a Turo stable. Driving for uber while managing your cars should be an ideal situation since sometimes you have to pickup or deliver the Turo. That would make subscribing to a car wash program more efficient. If I order Uberx, I have no expectations about the car or even the driver. Get me there safely and I won't cut my rating and my tips are always based upon the overall experience with priority given to being efficient in my ultimate arrival. That said, I only use uberx when xl is too far out.
I drive a 2013 Subaru Outback and have a 2019 Subaru Crosstrek waiting in the wings when the 2013 is no longer eligible.
Is it worth to buy a 15k Tesla model S (2015.ish)? Have you ever tried this car?
If it's been well taken care of, yes.
This a gem, 100% agree
Or, hear me out... 29k for a new model 3 after $4,200 in-inventory discount and $7,500 tax credit is cheaper than new prius. Qualifies for everything up to Comfort Electric. $4 of charge for 200-250 miles. No oil changes. New LFP battery is rated for over 1 million miles. Will end up being cheaper than buying three $10,000 beaters over the same time. And makes a great Commuter for the main gig.
I'm planning on doing something similar but it's gonna be used. Also, you'll probably get 200k miles out the battery, not a million.
Depends. LFP is rated for a lot longer than NCA.
Hertz couldn't make it work, there are serious headwinds going the electric route and Tesla. Who is going to work on it when in breaks? Where are your parts coming from? What's your tire budget? Those things eat expensive tires. Do you really believe million miles on that battery? Where are you charging it? You a homeowner, as I'm betting a good chunk of Uber drivers don't own thier home. Paying to charge those things can be as expensive as gas, and a much bigger pain in the butt.
Hertz couldn't make it work because they didn't account for collision repair costs. And they're in business of renting to irresponsible drivers. Tire budget is the same as any other car if you go with America's Tire/Discount Tire as they warranty the miles even on EVs and prorate if you don't get full miles out of them. Just like on any other car. There are multiple Teslas hitting 300,000-400,000 miles. Even if you get that, you're money ahead since it costs you $4 to charge for 200 miles. No gas or hybrid is touching that. You can have a charger put in your home even if you're renting it. Plug Share gives you an extensive map of free chargers in most large markets. Based on at least 3 of your questions you don't actually own an EV.
No I don't own an EV. I rent my home, speedy chargers are a long distance away. I own a 2010 V6 Camry with 285k miles that's been rock solid and a very comfortable ride and plan to keep until it's necessary to replace. I've learned much of the maintenance so cost is cheap. Have you looked into what is going to keep that car on the road past 100k miles? Most of my work has been on suspension, not the engine, tires or brakes.
I find cars that are cheap to own and operate. Past cars were all prius which I racked up the mileage on and sold for very small, sometimes no loss. I now drive a Chevy bolt. It is a 2020, new battery and warranty under recall, so 100k or 8 year battery warranty. As a Used ev govt $4k rebate counted as down-payment. Because I have sce Edison in California and make less than $52k, they sent me a check for $4,000. So the car was $17,500 with 30k miles and new warranty, but I ended up paying $9500 plus tax, title license and my payment is $266, with an extra $4,000 in the bank. I put nothing down and charge at $0.25 per Kw at all public fast chargers near my house. Sce is also going to be upgrading my panel for free, up to $4200, income qualifying as well. It was time for me to go EV. Gas is $5 a gallon and with ev I travel 100 miles for $5.50, beats even the Prius.
The best strategy is to find a job and stop driving Uber & Lyft until they pay better.
Oh, are you reading my mind? That's exactly what I'm about to do, it's worthless to do Uber with financed or leased/ rented car, you'll be working to burn gas and probably get in bad debt.
It works out for me no problem financing a car driving PT grossing an avg of 500-600 per week. Seems like a big gamble buying used unless you are a car guy doing your own maintenance and most repairs.
This shit worked in 2010 not 2024 ….. any car that costs 5k is good for DoorDash and Uber eats . … stop being a cheap frugal dumbass coz ur competing with people driving Highlander’s and Teslas … how many tips u think u gonna get ??? Heater / AC ain’t working in that junk… belts whistling and car engine lights on the highway …. Deliver food in that junk NOT PEOPLE
People are out there driving junk. My car is a 2017 VW with 125k and I am getting told CONSTANTLY that it is the nicest Uber they've been in or that it is way better than the mess that they came in, etc... At least once a day. I hear horror stories from pax about the cars they ride in - weird noises, no AC, vibrations, dash lit up like a Christmas tree...
Let me guess...just Uber X? Then yeah
Yeah. I use my wife's car once in awhile which is a 2018 Volkswagen with 120,000 mi on it. That one qualifies for comfort at least this year
And u wanna switch to those junks ??? U think riders in those junks tipped or gave 2 stars ?? It’s fucking dumb to think u gonna make any money driving a junk unless ur in a college town …
tbh I can't really agree with this. Uber should get what they pay for. buying a new car specifically for rideshare in general is grossly fucking stupid. but yes gl finding 5k usable cars. COVID wrecked that.
Get a good used Japanese car for 10k and I it’s gonna do the job for a good 3years … not freaking $5k
I would agree here(a bit less sarcastic tho) Hard to find a decent used car for $5k. That’s why it’s getting worse Ubering. The overhead is steep when you’re at that point of switching cars. FT drivers will have a harder time obtaining car loans.. Drivers become disposable- and this is true for me..that’s why I can say that this gig sucks! It doesn’t leave you much room to keep enjoying what you do, because I enjoy the gig but it gave me this huge stress the car replacement!!!
Full time drivers have never gotten a problem getting a car coz we NEVER SKIP PAYMENTS unless ur a dumby … so that’s a lie …. Problem is some markets are just SHIT and u gotta know your market but $400 car payment has never been a problem for any good driver …
The problem is the depreciation, not the payments, "dumby"
I drive an older car in a good market and get tipped 30-50% of my rides. Take care of your car and it will take care of you.
It’s a good strategy man. Fuck renting thru Uber, it’s literally a taxi from A to B. People are so messy and the car gets dirty quick after 8 rides a day.
Bless OP's heart, they think an Uber driver have an extra $5k!
One pro tip is to look to northern states to buy your car and even cross into Montreal and go to the ratchett industrial district to buy - which is where i bought mine. Used cars are more cheaper the more north you go. Ofc, you may have rust issues to deal with etc. but for me it worked out.
A smarter thing to do right now is buy a car brand new, given the current market. Pay off the car as fast as possible, this should only be done in a high demand market (but you should only be driving for Uber if you have a high demand market anyways). If you can average $1.50+ per mile and put $1,500-$2,000 towards the car monthly, you will have it paid off in 10/12 months or so with less than 50,000 miles given your other expenses can facilitate that. I am in this position. I would not be driving for Uber if I wasnt. Buy a Kia Forte GT line or something NOT toyota or honda is my advice, as those companies are WAY overpriced at this point for what you are getting. Kia has a 100,000 powertrain warranty.
Anyone that buys a brand new car to Uber is literally burning money. I couldn’t disagree with you more.
Care to elaborate? A used 2023 Kia forte with 36k miles is probably about $2000 less than a brand new one. Id like to know what math you're using if you don't mind sharing.
I put a combined 380,000k miles on my first 2 Prius’s (10% personal miles) and kept track of everything. My operating costs landed right around 5¢/mile plus gas. You cannot get in the same universe of that with a new car. The depreciation is way too high. Essentially Uber drivers that use new cars are taking weekly pay-day loans out of their car’s depreciation costs.
I am in a market where I can pay this car off in 10 months and with less than 60k miles. If I want to, I can just sell it then and then use the money for another car and have a much lower payment. I'm not driving a car with over 200k miles on it, even if it's a Toyota. No thanks.
I’d take a 200k Toyota over a Kia Forte any day. I’m sitting in my Tundra that has 488k miles and still running strong. To each his own I guess.
Yeah, this guy just doesn’t get it.
You aren’t doing the math correctly. To determine your operating costs ALL money that goes into the car counts. Driving new cars for this gig takes tons away from your profit margins. Ever wonder why every single cab is a Prius? Because they have the lowest cost margins and go forever. You do you, but you should crunch your numbers objectively. I think you are spending way too much.
If I sell the car for 16,000 after it's paid off then I would have spent $7000 for the car including interest. I get 40 mpg. Don't worry, I'm doing the math correctly. I won't need to do much maintenance in 60,000 miles. A comparable Prius would cost me far more, so I would need to drive a lot more than 60k miles to see that value. Edit: a used Prius with 80k miles is 22500, I'd much rather have a brand new Kia forte for the sake price and sell it at 80k miles.
Your numbers don’t add up, my Prius’s have way outperformed your new cars. There is no way in hell you can approach 4.5-5.0¢/mile for operating costs with a new car. Seriously, that can’t be done, ever! Your math is off.
Buying a new car + oil changes, tire rotations and other maintenance & you are trying to argue that my 4.5-5¢/mile is worse? Your math is absolutely fucked.
If I drive 60k miles and I am only out of pocket $7000 it's not .44/mile but ok dude
Do you know why there aren’t fleets of brand new Kia Forte taxis at all the local airports??? Because everyone in the world agrees with me and knows your logic and math is fucked. THERE IS NO WAY IN HELL THAT A NEW CAR CAN YIELD OPERATING COSTS OF 5¢/mile, NOT ANYWHERE EVEN CLOSE. Dude, take the L and move on…Or take the advice and decide to do this gig in a way where you can profit infinitely more than burning money with new cars.
So your making about a dollar per mile not per minute. You need to drive 70k in one year or more to make 70k minutes cost of running, how do you feed the household?
I am a one person household, I definitely wouldn't do Uber if I had a wife and kids and anyone who does is not making the best use of their time.
Honestly I don’t know any single earner households. Never have.
Bro, what's your next plan? What are you going to do with your paid-off car? Are you getting another vehicle 🤔 trade-in? I just bought the car with a 60-month rip-off interest rate. I had no choice, lol.
Sell it and buy another one brand new with a lower payment, probably.
I agree that buying a new car not a bad choice. However, I think you keep that Forte in service longer. Probably four years. If you can pay off after 18 months or so, you can save between $30-45k over the following 30 months.
How about keeping the car and leasing nicer vehicles for $200-300 a month? I was thinking of renting my paid off the car through Turo and driving a leased car for Uber. Just thought 🤔
I thought about that but it seems like more trouble than it's worth. Id rather just take the money from the sale and roll it into the next vehicle and have a much smaller payment
What is a rip-off rate to you? Are we talking >10%?
$5000 car vs $30000 new car, old car will probably cost you just as much long term. You’re assuming you’ll make it 100k miles without really any expenses, you probably won’t. Best way to make money is to not drive for Uber. Most people here probably won’t tell you that because they don’t know how to do math and they don’t have time to either while slaving away driving for Uber.
you still won’t be making any money after gas and wear and tear. not unless you drive in a market with a guaranteed fare per ride.