Is getting a new car worth it?

Chris210

Member
Hello everyone!!
I currently drive a 2007 Mercedes-Benz E-350 for uber, in the city it gets 20 MPG if I’m lucky, and it’s too old to qualify for anything higher than X. I was wondering if you all think it would be worth it to trade it in and get a more fuel efficient car (like say maybe a used Prius), and if so, what car and where I should be looking? My cars trade in value is only around $4,000 and most used priusus are around $10,000 from what I’ve seen, so it’s an investment for sure.

Thanks so much in advance!
 

Pax Collector

Well-Known Member
Getting a brand new car won't be worth it in the long run. Getting a used fuel efficient car could work in your favor.

Hybrids will be your best option for affordability and fuel economy as you would have to pay a lot more for a full electric car. If you want an even cheaper option you can look into compact sized Toyotas and Hondas as you can't beat their reliability and gas mileage for their class.

Where should you be looking? The internet is a great start. Truecar, Cargurus, Craigslist to name a few. Carmax is the largest used car seller in the country as well.

Good luck.
 

Chris210

Member
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  • #3
Getting a brand new car won't be worth it in the long run. Getting a used fuel efficient car could work in your favor.

Hybrids will be your best option for affordability and fuel economy as you would have to pay a lot more for a full electric car. If you want an even cheaper option you can look into compact sized Toyotas and Hondas as you can't beat their reliability and gas mileage for their class.

Where should you be looking? The internet is a great start. Truecar, Cargurus, Craigslist to name a few. Carmax is the largest used car seller in the country as well.

Good luck.
Thank you!
Yes I wasn’t planning on buying brand new, defiantly going for used. It’s still a pretty big price gap between my trade in value and what the cost of it would be, just trying to figure out if the price gap is worth it and how long it would take me to recoup the losses based on gas alone (along with the tips that come along with picking up in a Mercedes )
 

Pax Collector

Well-Known Member
just trying to figure out if the price gap is worth it
You can consider it a small business investment. If your market is good and you're serious about driving you can get your money's worth (Provided your car is reliable and doesn't require too much tlc).

how long it would take me to recoup the losses
Again, depends on your market and driving commitment.

Either way it goes without saying that you're better off getting a reliable, fuel efficient car instead of buying brand new.
 

RogerJS

Well-Known Member
Hello everyone!!
I currently drive a 2007 Mercedes-Benz E-350 for uber, in the city it gets 20 MPG if I’m lucky, and it’s too old to qualify for anything higher than X. I was wondering if you all think it would be worth it to trade it in and get a more fuel efficient car (like say maybe a used Prius), and if so, what car and where I should be looking? My cars trade in value is only around $4,000 and most used priusus are around $10,000 from what I’ve seen, so it’s an investment for sure.

Thanks so much in advance!
Definitely get rid of the MB you’re actually losing money on every x trip you give!
Agree with others here .. 2 or 3 year old used hybrid
 

Chris210

Member
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  • #6
Definitely get rid of the MB you’re actually losing money on every x trip you give!
Agree with others here .. 2 or 3 year old used hybrid
By my calculations I’ll actually have paid for the car through rideshare driving alone after around 4, 5 months tops. The only real issue here is the fuel economy. If my baby got 40 mpg or higher I wouldn’t be going through these trials and tribulations

Anyway if you know someone near Palm Springs trying to buy a Mercedes let me know
 

RogerJS

Well-Known Member
By my calculations I’ll actually have paid for the car through rideshare driving alone after around 4, 5 months tops. The only real issue here is the fuel economy. If my baby got 40 mpg or higher I wouldn’t be going through these trials and tribulations

Anyway if you know someone near Palm Springs trying to buy a Mercedes let me know
If you calculate the total cost and taking in the crappy mpg you are making little or no profit
Anyway.... what’s the story on he MB ? Mileage, condition how much are u asking?
 

Chris210

Member
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  • #8
If you calculate the total cost and taking in the crappy mpg you are making little or no profit
Anyway.... what’s the story on he MB ? Mileage, condition how much are u asking?
Mileage is currently at 96k, been maticulasy maintained by the other 2 owners through the dealership. Very good condition.
I’m asking for at least $6,950. KBB puts it at upwards of $8,000.
 

RogerJS

Well-Known Member
Mileage is currently at 96k, been maticulasy maintained by the other 2 owners through the dealership. Very good condition.
I’m asking for at least $6,950. KBB puts it at upwards of $8,000.
Is it the silver or blue one that I’ve seen around town ?
 

Chris210

Member
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  • #10
Is it the silver or blue one that I’ve seen around town ?
Nope it’s all black!! I’m only down there Friday night-Sunday Morning, and sometimes I get dragged out to the IE/LA.
And I’ve found the new car I’m going to get.
An 09 Prius with 173k miles for $3,500. New battery 9 months ago. Hopefully a sound deal!

So the Mercedes is definitely 100% for sale now!
 

RogerJS

Well-Known Member
Nope it’s all black!! I’m only down there Friday night-Sunday Morning, and sometimes I get dragged out to the IE/LA.
And I’ve found the new car I’m going to get.
An 09 Prius with 173k miles for $3,500. New battery 9 months ago. Hopefully a sound deal!

So the Mercedes is definitely 100% for sale now!
Sounds like a Good deal on the Prius, considering that it has a new battery..good for another 200k Miles
 
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