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Does it make sense to buy a (used) car for Uber?

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fpressly
4082 Rider Driver
 Posted 1 year, 1 month ago

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That is the ONLY thing that makes sense. A new car would be ruined by the mileage you run up on it. Plus a new car is probably financed and would require the most expensive full coverage insurance. Ideally (if you live in the United States) find a three year old car that has come off a lease. A 3 year old car hits it’s sweet spot as to devaluation after a three year lease. If you can find one with high miles that can be bought at a steep discount even better. A three yr. old car will have 45,000 miles on it. Today’s cars go 300,000 easy if you take care of them. So you can drive this one into the ground as the mileage is out of kilter to begin with. If you can buy it outright, without financing, even better.  You need a used car that is comfortable, has large trunk space and generous seating for three in the back. And been taken care of. A Nissan Maxima, a Toyota Corolla, Honda Accord there are a few cars that have history of lonnnnngevity without a lot of upkeep and maintenance.

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    BrianTheScrewDriver
    434 Driver Driver
     1 year ago

    Absolutely.  Driving Uber is a constant fight against expenses and car depreciation. Less your car is worth, less depreciation you incur. Buy or own the oldest car Uber allows in your market and for service type. 

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    DriveMeToTheMoon
    285 Driver Driver
     1 year ago

    Well, yes, you should buy a car for Uber driving. You should buy a separate and dedicated car if you are going to do this fulltime.  

    The key factor is whether this is fulltime or not.  If it's a part time, by all means, make some extra cash utilizing the car you already own. If it's full-time? I tried this in the beginning with my family car and everything started to break after a few months of driving 600+ miles a week. 

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    Bigfrank
    426 Rider Driver Driver
     1 year ago

    I couldn't agree more, I would never ever buy new especially  with third world country rates and these commie pinkos that get in our cars. If your a full time app driver always think commercial ,reliablity, comfort and safety. when choosing a car. 

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    T-RabitDriven
    219 Driver
     1 year ago

    If I coul afford a brand new car, I wouldn't be driving an Uber. LOL. A new car payment will exceed Uber payout if you are not careful.  or perhaps in most cases. Someone do the math.

    After more than a thousand rides, I am now convinced that Uber is meant and designed for people who already own a car and taking on this job as a side gig. Purely for making a little extra cash and car payment is considered as a sunk cost.

    I have reduced the amount I drive as a result. I still drive but I won't consier this as fulltime or a long-term career. (yes, I do have another job that takes up 30+ hours of my time as week)

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      RedANT
      1073 Rider Driver
       1 year ago

      Like you said, Uber is best as a side gig, NOT as a main source of income. 

      Considering the current rates of rideshare pay, I'd recommend against purchasing a vehicle for rideshare, although in some areas it can help if you're in need of basic transportation and need a way to earn the money to make the payments.  I drive very part-time hours, (generally less than 20 hrs /wk) I don't do weekends, nights or holidays, and I make more than enough to cover gas, insurance, maintenance costs and two car payments every month.

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    breakingbread
    234 Rider Driver
     1 year ago

    I thought this was someone asking whether it made sense to buy a used car so I came to this post to say exactly what you said! haha Definitely buy used for rideshare driving, so stupid to buy new and drive it into the ground plus riders are not the most gentle creatures...

    I have had good luck with my ford fusion