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Anybody here done the Uber financing?

Discussion in 'Pay' started by RonL, Oct 9, 2014.

  1. elelegido

    elelegido Well-Known Member

    Location:
    Varies
    But if you're doing it part time only your revenues will obviously be lower; I'd say get an '06 Corolla or similar to lower your fixed costs as much as possible.
     
    StephenJBlue likes this.
  2. millertimex86

    millertimex86 Member

    Location:
    Phoenix Az
    That's why I don't like why uber just can't choose one company for their financing and stick with it but I'm pretty sure there is more to it. For me I would like to lease instead knowing I can get out of it when done with uber. But on the flip side with Exeter its actual financed purchase. Which in its self has it pros and cons.
     
  3. ATLrider

    ATLrider Active Member

    Location:
    Atlanta


    $716 a month????
     
    Jay2dresq likes this.
  4. where's the beef?

    where's the beef? Well-Known Member

    Location:
    NJ
    almost $9,000 a year...
    maybe a bit over $9 G...
     
  5. SCdave

    SCdave Well-Known Member

    Location:
    LA / OC
    Driving:
    UberX
    Coming this Fall 2014 are changes on how Medical related debt will affect your Credit Score/Credit Reporting. Unpaid Medical Debt will still affect score but less while paid/settled medical debt will not affect your score (as far as what I read). Good reference: http://www.nerdwallet.com/blog/health/2014/08/20/fico-9-fix-medical-debt/
     

  6. millertimex86

    millertimex86 Member

    Location:
    Phoenix Az
    Holy crap, I didn't even pay that much when I had 2 new cars with payments.
     
  7. VSSteve

    VSSteve Member

    Location:
    Pittsburgh, PA
    It is expensive BUT BUT BUT...

    $28,000 on 42 month loan @3% Interest is $703.11 per month.

    4.04% and you are at 716.03
     
  8. VSSteve

    VSSteve Member

    Location:
    Pittsburgh, PA
    With that said... DO NOT DO IT...

    Why invest in a new car (ever) for this? The rug could be pulled out from under you in 4 ways:
    Uber/Lyft Lowers Rates
    Uber/Lyft Gets legislated out of your city
    Uber/Lyft Deactivates You
    Uber/Lyft Insurance doesn't come thru on an accident

    There are more but those 4 risk factors would scare me.
     
    Enovvy and where's the beef? like this.
  9. scrurbscrud

    scrurbscrud Well-Known Member

    uh, most unlikely. Purchasers will stay on the hook regardless.
     
  10. GannMan

    GannMan New Member

    Location:
    Orange County
    My Ford Fiesta gets those mpg's if I drive it like a race car
     
  11. caspiy257

    caspiy257 Active Member

    Driving:
    Taxi
    The same numbers for Camry hybrid ( paper says 40 mpg)
     
  12. Optimus Uber

    Optimus Uber Well-Known Member

    Location:
    Los Angeles
    Driving:
    UberLUX
    so if you have no assets, dont file bankruptcy, because bankruptcy lasts 10 years. You're better off telling the credit card companies to take a long walk off a short bridge since the debt isn't secured and your credit Will be fixed in 7 years instead of 10
     
  13. Optimus Uber

    Optimus Uber Well-Known Member

    Location:
    Los Angeles
    Driving:
    UberLUX
    I have 3 cars, total payments per month, $1625 a month. 335, 328, CLA. 2 beamers and a Mercedes. But then again they get $2.35 a mile, not a $1.10 a mile.

    the 335 put Dow $1200, the 328 put down $2200, the CLA, put down $1800.

    that's why I don't understand these prices that uber is posting for their leases, they seem so high. I don't get it. They are making you slaves for poor money. You can do better purchasing the car without their finance company. I get a good rate from BMW and Mercedes. CLA is only $40k, I put down $1800, payment is only $400. Iys gets plus rates, but the Prius doesn't and its $700 a month.
     
  14. Optimus Uber

    Optimus Uber Well-Known Member

    Location:
    Los Angeles
    Driving:
    UberLUX
    you're right no one should get into it. Stay out of the industry, itd horrible. I'll mind the store, I've got it covered
     
  15. Optimus Uber

    Optimus Uber Well-Known Member

    Location:
    Los Angeles
    Driving:
    UberLUX
    what I don't understand is why would you pay for 40,000 miles per year if your going to buy the car at the end. The miles are irrelevant since you own the car at the end. At least I think so. Can't you cheapin your payment if you make it 10,000 miles per year? I mean if your buying it at the end of the lease why would pay for the extra miles. Am I missing something here? Wouldn't the cost savings be sometimething like 30,000 * .15 per year.couldn't you save like $4500 a year?
     
  16. painfreepc

    painfreepc Well-Known Member

    Location:
    Fontana, CA
    Driving:
    UberX
    Don't how you guys are driving the car, I have been picked up by three uber drivers with the carny hybird, all show 37 to 39 mpg.
     
  17. Narkos

    Narkos Member

    Location:
    Phoenix, AZ
    Driving:
    UberX
    Aren't repairs on hybrids outrageously expensive (i.e. Prius battery replacement between $3,000 and $5,000)? I could be way off on these numbers, but one of my co-workers owns a Prius that a battery went out on after warranty had expired and she mentioned that battery replacement was right around $3,500. Supposedly, these are supposed to last around 5 years of normal driving. I can only throw out theoretical numbers as I don't own a hybrid, but if this particular repair is that expensive, is it really worth getting a hybrid for this job?
     
    Optimus Uber likes this.
  18. painfreepc

    painfreepc Well-Known Member

    Location:
    Fontana, CA
    Driving:
    UberX
    I pick up my 2015 ford fusion hybird se in about 10 days, will keep you all updated.
     
    Enovvy likes this.
  19. Narkos

    Narkos Member

    Location:
    Phoenix, AZ
    Driving:
    UberX
    I drive a 2013 Accord (not a hybrid) and average that same mileage, if not slightly better. I don't know much about the Fusion, but those numbers seem low for a hybrid.
     
  20. Bill Feit

    Bill Feit Well-Known Member

    Location:
    Oceanside (San Diego) California
    Driving:
    UberXL
    See all these numbers? Now you know why Uber wants to add 58,000 Active Duty military and their spouses in the next 12 months--many will not have cars and all they really want is this kind of financing!! Go Uber!!
     

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