Should I finance a new car for uber ???

roxasr

New Member
I'm thinking about getting a Honda Civic ex L 2016 to drive for uber rather then Paying 400-500 for a rental. Is it a good idea??
 

Papa Sarducci

Well-Known Member
Im new to this not sure probably 40hrs or more
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.
 

dirtylee

Well-Known Member
Honda makes great cars; however, this is a business. You have to get the car at a good price. This doesn't mean what the dealer says is a good price.
 

roxasr

New Member
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I will start with a rental to see how it goes but paying 450 for a rental is crazy when you can finance the car . Idk just my opinion.
 

mandreyka

Well-Known Member
But used, get a lease return that is 3 years old or a used one that is 4-5 max

If you have good credit then go to a credit union and get a loan for like 3%, no need to have a new car for uber.

Think about putting pax in a brand new car?
 

Tequila Jake

Well-Known Member
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.
 

Squirming Like A Toad

Well-Known Member
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.
 

MSUGrad9902

Well-Known Member
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.
 

Papa Sarducci

Well-Known Member
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.
+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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