# Unemployed and need a new car anyway... loans for current and former Uber drivers?



## Driver2448 (Mar 8, 2017)

So I've hit bottom and at this point I think the only way that I'll be able to get a "job" is driving for ride share like Uber and Lyft. I've researched full ride share insurance with AAA and it's decent. Full coverage.

My old car broke down and to fix it is almost as much as it would be to buy a new car. But the problem is that I'm unemployed. I quit my job last month to focus on my health and feel better. I'm also a former Uber driver with a somewhat decent rating.

I called my boss who said he would speak to corporate about getting my old job back since I feel better but I'm not optimistic. I have been offered a position for the complex where I live with my dad but that doesn't start until April however. Obviously I can't wait this long for no income.

I probably would never consider this except I am in desperate need for income. My best month back when rates were $1.20/mile in my area was $500. This was when Uber first started coming out. The rates are now $0.86/mile.

I would probably mostly drive evenings when it's time for dinner and during rush hour. Based on my research there are only about seven cars out on the road in a city of 132,000 people plus neighboring locations. . I've used the Uber passenger app to check every day and the seven cars out seem to be the only cars that are currently on the road. I also know a few hot spots up the hill where there is big demand for Uber. I'm a member on a community page and people are complaining all the time how there are no Uber drivers there.

My dad is hesitant but could probably cosign a loan with me. He has good credit and a three figure job. I have a stable place to live and could easily just sit in the parking lot in my complex and wait for ride requests first thing before heading out to another area.

Summary: Former Uber driver with current/waitlisted account waiting for insurance update. Need a car for Uber since I need a new car anyway and a loan for someone who is unemployed. Need help figuring out what to do. 

Apologies for any mistakes.


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## Uber Crack (Jul 19, 2017)

Hahahahahahaha  
I nearly peed my pants laughing at the research of 7 cars on the road.  
Welcome and yes you can probably do this no problem.

Also tons has changed in two years. The rider app shows 7 cars. There may be 50 - 100 or more cars depending where in Sacramento.

I don't know about the car... I got a used 2015 Prius from National rent a car sales for $17k and the payments are $350. I work part time and depending on how many hours I make 200 - 400 ish..per week.. Sometimes more sometimes less but that's average.

Any other questions I'll be glad to answer. I say do it.


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## Mole (Mar 9, 2017)

Uber is a trap. Try not to destroy your dads credit. Maybe you need to go to church they have nice women. Just say no to drugs and alcohol. Besides all that try to get your old job back or apply at Home Depot no insurance required.


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## ABC123DEF (Jun 9, 2015)

Driver2448 said:


> So I've hit bottom and at this point I think the only way that I'll be able to get a "job" is driving for ride share like Uber and Lyft. I've researched full ride share insurance with AAA and it's decent. Full coverage.
> 
> My old car broke down and to fix it is almost as much as it would be to buy a new car. But the problem is that I'm unemployed. I quit my job last month to focus on my health and feel better. I'm also a former Uber driver with a somewhat decent rating.
> 
> ...


Your dad has a 3 figure job? How can he help you?! ​


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## Uber Crack (Jul 19, 2017)

Just saying I live in Sac and know the market here. You should maybe post in the Sac forum and ask those riders. Uber is a gamble yes. If you crash you're out of income until your car is fixed. People here drive like maniacs.
You'll rack up miles on your car because Sac is very spread out.
Other than that, make your own decision. There are tons of people in this forum who hate uber.
I'd drive a bit to get on your feet then maybe try to have another job plus uber on the side. I am not a full time driver so I don't know what that's like. Apparently it makes people in here cranky


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## ShinyAndChrome (Aug 18, 2017)

> Based on my research there are only about seven cars out on the road in a city of 132,000 people plus neighboring locations


Oh, trust me there are WAY WAY WAY more cars than that out.

The 7 cars you are seeing is because uber will only show you the closest 7-8 cars. Notice how these cars you see are only in your area and you never see them across the city? It's because all the ones over there you can't see in the app. There are additional people you can't see on the app because they are in lyft (though most people with lyft also have uber on) and many others who are running destination mode on the way back and forth to work who you also can't see.

I advise you borrow your dad's car, do this for a week, and see how it is. Things keep changing. Uber is not nearly as "lucrative" as it was in the past. Most people around the country are netting, after costs, about $10-13/hour. That's just the reality of it. Those who make more than this are almost always in a complete state of delusion and are not capable of figuring out how much it actually costs to run their vehicle.

If you want a proper income and can do regular hours, get a job at home depot as mentioned above or walmart or costco. Those are actual jobs. Uber is something you do when you're either incapable of working one of those jobs (e.g. you are a stay at home parent and spouse is out to work) or you do on the side for drinking or vacation money. Actually supporting a life on an uber income is a poor proposition.


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## steveK2016 (Jul 31, 2016)

ABC123DEF said:


> Your dad has a 3 figure job? How can he help you?! ​


Three whole figures?!


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## Yulli Yung (Jul 4, 2017)

Driver2448 said:


> So I've hit bottom and at this point I think the only way that I'll be able to get a "job" is driving for ride share like Uber and Lyft. I've researched full ride share insurance with AAA and it's decent. Full coverage.
> 
> My old car broke down and to fix it is almost as much as it would be to buy a new car. But the problem is that I'm unemployed. I quit my job last month to focus on my health and feel better. I'm also a former Uber driver with a somewhat decent rating.
> 
> ...


 Does any one else question some or all of what this new driver is writing? With a dead earning and income she writes about, one wonders why she is so desperate for financial help and a cosigner??


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## Uber Crack (Jul 19, 2017)

ShinyAndChrome said:


> Oh, trust me there are WAY WAY WAY more cars than that out.
> 
> The 7 cars you are seeing is because uber will only show you the closest 7-8 cars. Notice how these cars you see are only in your area and you never see them across the city? It's because all the ones over there you can't see in the app. There are additional people you can't see on the app because they are in lyft (though most people with lyft also have uber on) and many others who are running destination mode on the way back and forth to work who you also can't see.
> 
> ...


Lol @ drinking money!!!!  
So true!


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## Trafficat (Dec 19, 2016)

> Most people around the country are netting, after costs, about $10-13/hour. That's just the reality of it. Those who make more than this are almost always in a complete state of delusion and are not capable of figuring out how much it actually costs to run their vehicle.


Many are making $10-13/hr (or less) BEFORE Expenses.



> If you want a proper income and can do regular hours, get a job at home depot as mentioned above or walmart or costco. Those are actual jobs.


But I doubt most of those jobs pay even $10 an hour here. My last two actual jobs paid $10 an hour, although I could make $1 an hour in commissions on average on one of them. No benefits because they were only "part-time". Lots of part time min wage jobs available. Hardly any jobs that are good.


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## Eesoso (Jan 16, 2017)

> Summary: Former Uber driver with current/waitlisted account waiting for insurance update. Need a car for Uber since I need a new car anyway and a loan for someone who is unemployed. Need help figuring out what to do.
> 
> Apologies for any mistakes.


I must question the wisdom of getting in medium length debt for uber. The uncertainty is too great. UBER is still a very young company. Unfortunately, banks and other finance networks do not usually accept Uber driver pay statements for income verifications purposes. Cash, on the other hand, can be made relatively easy: one or more parttime jobs. Cash buys can net significant savings at car sales as well. Just my 2 cents. Decision is ultimately yours to make for your individual circumstance.


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## RynoHawk (Mar 15, 2017)

I would not go into debt and rely solely on Uber for income. I would not rely on Uber (or any Ride Share company) as a sole means of income for your household in almost any situation. One exception may be if you're young and single with minimum expenses/debt and you can easily find another job if the rug gets pulled from under you.


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## Older Chauffeur (Oct 16, 2014)

Driver2448 said:


> I've researched full ride share insurance with AAA and it's decent. Full coverage.


This is a surprise to me. My Auto Club insurance policy states repeatedly that commercial use, whether it's rideshare, delivering pizzas, packages or newspapers, is absolutely not covered and doing so on the sly is cause for cancelling or non-renewing the policy. Of course mine is with Auto Club of SoCal, and yours is probably AAA of Northern Cal. In each section explaining what is covered and what is excluded, my policy goes into great detail about rideshare. They will cover shared expense carpooling, so don't let that confuse the issue.

I think it's at least in part do to the AAA not-for-profit insurance exchange for members, as opposed to a for-profit mutual insurance company. It works kind of like a credit union, with members benefitting from premium rebates when risks are carefully managed and spread over all those participating. Commercial/for hire use means a lot more miles driven and increased risks.

I would ask to see the specific coverage for rideshare use in the policy, just to be on solid ground.


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## Snowblind (Apr 14, 2017)

He sounds like a Millennial. Just quits his Job. Move back in with Daddy.
"Focus on Health and feel better?".
Newsflash: It is rough out there, we all know it. But we just don't quit our Jobs, relying on Daddy.
Many here drive their Cars into the ground, just to provide for their Family.
And you? "Oh, maybe Daddy will co-sign ". For a new Car?
Then, just "sit there in the parking lot?"
You need way more help than just a Car.


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## NorCalPhil (Aug 19, 2016)

If you can't afford the tool you need to do the trade, you can't afford to be an Uber driver. Having your dad cosign on a loan is the worst idea ever.

Besides, the risk vs. reward is too high. Go to In-n-Out and apply for $13 or whatever their entry rate is - you don't need $3k in tools to do that job. Save your money and get a $3000 beater that qualifies for Uber (pay cash). Then drive when you aren't flipping burgers until you can save enough to go to school or get into a trade (other than driving). 

Uber is not a full-time proposition even if you could afford to do it.


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## tcaud (Jul 28, 2017)

If you're going to do Uber, consider a Prius. 55mpg in city. Turns itself off at the drive thru (alternator built for wear). Very convenient for this line of work. Buy used for $3000-5000


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