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Should I get a vehicle exclusive for Uber

Discussion in 'Advice' started by Ubergoober6, May 16, 2018.

  1. Ubergoober6

    Ubergoober6 Active Member

    Location:
    Pennsylvania
    So I drive a newer car for uber and was thinking, would it be worth it to get a spare car and use it for Uber and/or if something ever happens to my current car and it needs repair? I was thinking about getting a 2008-2011 cheap economy car to use for Uber.
     
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  2. kc ub'ing!

    kc ub'ing! Well-Known Member

    Location:
    Reno, NV
    I wouldn’t invest a penny in this gig. If you have second car money, save it for maintenance and repair of your current vehicle.

    Are there 6 ubergoobers here? Wild! Only one has the appropriate accompanying avatar tho.
     
    jgiun1 likes this.
  3. pismire

    pismire Well-Known Member

    Location:
    Varies
    Did you get a hold of some of that good medical grade stuff?
     
    jgiun1 likes this.
  4. emdeplam

    emdeplam Well-Known Member

    Location:
    Lagos Nigeria
    I imagine you get great tips with a new car!

    Why not get a second new car and just Uber a few more hours for the payments!
     
    Oberyn Martell and jgiun1 like this.
  5. Juggalo9er

    Juggalo9er Well-Known Member

    Location:
    Indianapolis
    Yes!

    Under and lyft pay very very well
    BMW or better I hope
     
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  6. 1.5xorbust

    1.5xorbust Well-Known Member

    Location:
    San Diego
    If you use a new car to Uber full time it will be ten years old in about two years.
     
  7. emdeplam

    emdeplam Well-Known Member

    Location:
    Lagos Nigeria
    If you drive a 10 year old car you will look 50 pounds fatter
     
    jgiun1 and rickasmith98 like this.
  8. Dammit Mazzacane

    Dammit Mazzacane Well-Known Member

    Location:
    SEA
    No.
    You are a small business owner and the return on investment from buying the secondary car would not happen. You'd never make enough fares to earn back what you'd spend in initial vehicle purchase cost, insurance, gas, and depreciation. Only buy a second car if you want to enjoy having a second car available or if you want to branch out with Turo (to rent out your unused car for money, and that's if you want that additional risk.)
     
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  9. 1.5xorbust

    1.5xorbust Well-Known Member

    Location:
    San Diego
    If you lay on the beach on a sunny day without sunscreen you’ll get sunburned.
     
  10. emdeplam

    emdeplam Well-Known Member

    Location:
    Lagos Nigeria
    with this logic no one with a normal job would ever buy a car because no ROI. Look around, everyones got a new car. Financing is awesome right now wit hsuper low payments on 84 mnth loans.

    Whats the difference between your new car and the other new cars on the block??? Your can pay it bill with a few hours of 'OT'

    but if your 50 pounds bigger it will hurt worse so get the car
     
    jgiun1 likes this.
  11. Dammit Mazzacane

    Dammit Mazzacane Well-Known Member

    Location:
    SEA
    I rideshare my daily driver.
    By this logic, you'd like me to have two cars of which one or the other is sitting around being unused that I'm still paying something on.
     
    jgiun1 likes this.
  12. emdeplam

    emdeplam Well-Known Member

    Location:
    Lagos Nigeria
    that just silly....your car cant make money just sitting around. beauty is you dont have to drive all the time....drive when you want to make money!

    and 'still paying' is still building equity in a business asset :)
     
    jgiun1 likes this.
  13. Just Another Uber Drive

    Just Another Uber Drive Well-Known Member

    Location:
    Inland Empire/LA
    A car driven for Uber/Lyft has virtually no resale value.
     
    jgiun1 likes this.
  14. Juggalo9er

    Juggalo9er Well-Known Member

    Location:
    Indianapolis
    Not true, scrap metal is always of value
     
  15. Dammit Mazzacane

    Dammit Mazzacane Well-Known Member

    Location:
    SEA
    I am concerned you may be applying "devil's advocate" statements.

    If I am driving car #1 to make money, who is driving car #2 making money? I am only one person. The other car is just sitting around unless I rent it out to someone. That is my point against having two cars acquired for Uber/Lyft driving where one sits.

    Paying toward an asset to build equity only applies if you haven't full paid off the car. In the meantime, you are paying for insurance, etc. for the honor of having the car unless you park it and do not register it, do not insure it, and do not use it.
     
    jgiun1 likes this.
  16. emdeplam

    emdeplam Well-Known Member

    Location:
    Lagos Nigeria
    Are we doing logic problems? Lots of people have cars...lots of people have 2 cars. Not everyone is smart enough to gig for just minutes a day to pay for those items.

    "I am concerned you may be applying "devil's advocate" statements."
    WHAT???? Are you a way smart person who struggles to communicate or a dumb person trying to sound smart???? Only thing I am applying for is a Ritz Visa card-
     
    Last edited: May 16, 2018
    jgiun1 likes this.
  17. sidemouse

    sidemouse Active Member

    Location:
    united states
    I would start planning your exit strategy now, I would consider Uber like a "reverse loan" on your car... Basically you're getting paid to drive your car into the dirt, the longer you do this, the closer to worthless your car will be. I would use Uber for the time being as a reference / employment on your applications or whichever route you decide to go, also it does provide a temporary source of revenue but keep in mind your car is paying for this.

    Uber is hard driving, your car will wear out a lot faster than if you only used your car to get to-from work. Uber is not a company that is concerned with your compensation, all they care about is staying afloat by maintaining a dream... Dreams won't pay your bills, and the investors can't be all wrong you think but the question you have to ask yourself... If an investor can afford to lose their investment, can you afford to lose yours?
    Your car being the investment here, there's no getting around it, you drive for Uber long enough and you will most likely find yourself in a dire pickle.

    Uber is good for getting a little work history going, as a means of getting emergency cash (still better than a title loan), and to keep yourself busy... It's good for homeless people and the unemployable as well but again you need to get a plan going so that you're with Uber for as little time as possible because the day is coming when your car won't run right no more.

    Don't let the piper come knocking on your door.
     
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  18. oldfart

    oldfart Well-Known Member

    Location:
    Fort Myers
    Driving:
    UberXL
    I would drive the car you own for a while to see how this thing works for you and then decide on another car

    Then make your decision based on your own experience, instead of ours


    I view this thing as a business and I do it full time so it makes sense to me that I assign one of the two cars I own to the business. Others see things differently. You will have your own needs and whether you should buy a car specifically for ubering is up to you
     
    Last edited: May 17, 2018
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  19. dctcmn

    dctcmn Well-Known Member

    Location:
    honorary Canada
    lololololol
     
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  20. bobby747

    bobby747 Well-Known Member

    Location:
    lost
    Driving:
    UberXL
    FACTS HOW many days a week do u drive or want to drive....5 days a week lots of hours get cheap car..2 days a week keep what u have..all are making ideas . but dont know how much u really drive???
     
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