# OWN OUTRIGHT, LEASED OR FINANCED



## Tomypasta (Jun 6, 2018)

Is jour car leased, owned out right or is it financed? Let's hear from you guys and gals.


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## Uber's Guber (Oct 22, 2017)

Purchase a 3k beater. Drive it ‘till it drops.


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## merryon2nd (Aug 31, 2016)

I get newer/new cars for rideshare/limo service (just filled out my app, and waiting for my background check to go through), because I use them as my own personal cars, and I do a lot of hauling/cross country/road tripping. So I put a lot of personal miles on these too. And I'm just a little picky with what my a$$ sits in on a daily basis.
But I also own (outright) older cars as cruisers, and mud/off road trucks.
Leasing is a financial nightmare, and not worth the money dump.
I would say, either buy a beater outright, or get something that you really like FOR YOU and finance it. But NEVER lease.


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## Tomypasta (Jun 6, 2018)

I'm using my personal 2015 gmc terrain. And it has 15000 miles when I started 4 weeks ago and now I have 18000. So thinking maybe I should get beater for this gig because at this rate I will destroy it quick


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## Stevie The magic Unicorn (Apr 3, 2018)

Tomypasta said:


> Is jour car leased, owned out right or is it financed? Let's hear from you guys and gals.


There's downsides to all three

Owned- you have to already own it outright

Leased- There's an arbitrary mileage limit. going over the limit could cost you up to 50c a mile. 50,000 miles times 50c is... $25,000... it forces you into buying the car. A depreciated car that's over the hill.

Financed- Using a car for uber full time... a car might not survive the 5 year loan.

What's that?

You could drive a car into the ground before you get it paid off. In which case you have a non operable vehicle you can't get rid of, and you still owe money on.



Uber's Guber said:


> Purchase a 3k beater. Drive it 'till it drops.


This is my recommendation as well.


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## kcdrvr15 (Jan 10, 2017)

Own, paid about 7K for a 8 year old Lincoln town car. Did a little over 50K miles this last 12 months, total cost per mile ( including purchase price, fuel, insurance, and repairs ) $0.41 a mile. I will drive this towncar another year or two, then replace with another 6 to 8 year old lux vehicle. I run lyft lux and limo taxi service. About 2/3rds of my business is scheduled taxi trips, with the rest lyft lux.


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## Eesoso (Jan 16, 2017)

Uber's Guber said:


> Purchase a 3k beater. Drive it 'till it drops.


A 3k beater will not last long at all for a full time driver. Even a new car won't make it past a year without a few major repairs. Uber driving puts on so many miles, they're not normal miles either since much driving is done within major urban centers there the roads are poor and the traffic lights/ stop signs are plenty. Brakes, tires, shocks, and starter components especially go through higher than normal wear and tear. Everything down to light bulbs need constant checkup and replacing.

If you ask me the more important question is if the driver can do most of the basic maintenance and even some repair work themselves because that is the largest potential expense and a real source of getting ripped off if you don't at least understand mechanically your own car.


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## Uber's Guber (Oct 22, 2017)

Eesoso said:


> A 3k beater will not last long at all for a full time driver.


I've purchased $3,000 cars that gave me more than 350,000 miles with minimum maintenance. If you're incapable of changing oil or renewing a serpentine belt, then maybe you should consider a trade that consists of stocking shelves at a Walmart.


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