# Car question - looking into financing a car?



## Kappa21 (Mar 18, 2015)

Hey guys, 

I currently drive a 2008 Nissan Sentra with 144,000KM (90,000 miles). 
I was thinking of trading it in, financing a car and spending no more than 175/mth for it. 
My goal is to have a car with UBER and maintain it until it hits 150,000KM (or 90,000-100,000 miles) and then sell it and still finance (like a lease program) another car...mostly sedans, easy on fuel, low KM, durable and something that can pay the lease but get me the most for doing UBER. 

Is that possible? any opinions on it? Would be greatly needed. 

Currently my car, probably is worth around 3200 to 5000 (6000 tops). 
What can i do at the moment?


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## scrurbscrud (Sep 11, 2014)

Run the car you have into the ground. Save every penny you can from driving for Uber. 

Then consider a purchase if you're a new driver. If Uber hacks your pay rate in Toronto you'd probably be pissed off if you took on debt to buy a car just for Uber. A lot of drivers here that got into that position.

Part timing it your current ride could last a couple more years Ubering, easy, without any additional purchase costs on your part.


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## Kappa21 (Mar 18, 2015)

scrurbscrud said:


> Run the car you have into the ground. Save every penny you can from driving for Uber.
> 
> Then consider a purchase if you're a new driver. If Uber hacks your pay rate in Toronto you'd probably be pissed off if you took on debt to buy a car just for Uber. A lot of drivers here that got into that position.
> 
> Part timing it your current ride could last a couple more years Ubering, easy, without any additional purchase costs on your part.


Makes sense.
I just hate my car.........
Its gotta some work to do..i got rotor issues to fix cause i always jitter when i stop...plus i put 300 when UBER told me to take it to a safety inspection. My bolt was off on one wheele. 
Overall, i hear some noises in the engine, but it runs smoothly and nice..... 
I may consider putting aside 100+ a week and then getting a car. I do the gig 2-5 days a week mostly at night so its cool. 
Was thinking of moving close to the core.. Getting home is about 45 minutes on the highway, if i reduce that I can get better gas.... 2 full nights = a gas tank

The economics of UBER


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## UberDesson (Jan 18, 2015)

I second scrurbscrud. Don't get into debt doing Uber. Use your car now, maximize your earning, then buy a used Prius cash.


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## scrurbscrud (Sep 11, 2014)

Kappa21 said:


> Its gotta some work to do..i got rotor issues to fix cause i always jitter when i stop...plus i put 300 when UBER told me to take it to a safety inspection. My bolt was off on one wheele.
> Overall, i hear some noises in the engine, but it runs smoothly and nice.....
> *I may consider putting aside 100+ a week and then getting a car. * I do the gig 2-5 days a week mostly at night so its cool.
> Was thinking of moving close to the core.. Getting home is about 45 minutes on the highway, if i reduce that I can get better gas.... 2 full nights = a gas tank
> ...


*
Great idea. * Then in a couple more years you can buy another used Sentra and pay cash for it.


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## Kappa21 (Mar 18, 2015)

scrurbscrud said:


> *Great idea. * Then in a couple more years you can buy another used Sentra and pay cash for it.


No more sentras!! 
I like the KIA Soul... didnt they have a hybrid? 
I was thinking of getting a Ford Focus Hybrid. I once had a company car give me a 2010 and it was a dream to drive. 1000km to the Tank!!


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## scrurbscrud (Sep 11, 2014)

Kappa21 said:


> No more sentras!!
> I like the KIA Soul... didnt they have a hybrid?
> I was thinking of getting a Ford Focus Hybrid. I once had a company car give me a 2010 and it was a dream to drive. 1000km to the Tank!!


6 months from now you could hate UberXing.


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## Kaz (Sep 16, 2014)

I actually drive a Kia Soul now... most people love it. It does have a small engine so theres no "pep", and I have the ecoboost for better gas mileage. Over all, the car is very reliable and low maintenance, but I kind of wish I would have gotten another MAZDA or a sedan. Kias will run a long time as they're a Hyundai product Not a fan of Nissan anymore, lots of maintenance issues with today's Nissans. Not as reliable as they used to be. Kias on the other hand, are better than they used to be and the warranties are great.


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## James Ratcliffe (Mar 19, 2015)

I'm currently signing up for driver. Passed back round and got notice to contact a deal 70 miles away. The problem is I'm a big guy and the cars they want to put me in from this dealer is all shoe boxes...I have tried to email support but cnt get to right person to see about going to another dealer..I'm in Maryland ..can any one help with who do I contact or who are dealers in md to go to...???


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## Kaz (Sep 16, 2014)

James, you're not using UBER's financing are you?? There are threads on here that warn of it- why are you going to a dealer, you will pay more. is your credit bad and are you buying a car strictly for UBER?? Not recommended with the constant rate cuts, and issues most of us complain about. If you're a 'big' or tall guy a Prius is too small- you may want to look into a small SUV type- Ford Edge, Hyundai Santa Fe (cheaper) or a roomier sedan- Altima, Camry, etc. Most smaller sedans like Prius, Versa, Nissan Sentra, Chevy Cruse, Fiats, etc will be too small for you. But re-think this entire thing if you are unable to get good financing- it is so not worth it especially any UBER financing like Santander.


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## negeorgia (Feb 1, 2015)

Pay cash for toys and all cars are toys. Stop the buy high, sell low cycle.


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## elelegido (Sep 24, 2014)

Kaz said:


> I actually drive a Kia Soul now... most people love it. It does have a small engine so theres no "pep", and I have the ecoboost for better gas mileage. Over all, the car is very reliable and low maintenance, but I kind of wish I would have gotten another MAZDA or a sedan. Kias will run a long time as they're a Hyundai product Not a fan of Nissan anymore, lots of maintenance issues with today's Nissans. Not as reliable as they used to be. Kias on the other hand, are better than they used to be and the warranties are great.


Nissan was taken over by Renault, which is why reliability took a huge hit.


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## Fauxknight (Aug 12, 2014)

Kappa21 said:


> I may consider putting aside 100+ a week and then getting a car.


This, though you may want to split it into two smaller amounts to start with, one to cover repairs/maint on the current vehicle and one to cover a down payment on a future vehicle. If your repairs fund gets over a couple thousand dollars then you can put the spillover into the new car fund.

Technically it might still be the same $100/week, but you won't have the negative feelings about having to plunder your new car fund to cover the inevitible repairs you'll need on the current vehicle. Continuous monthly repairs on an old vehicle are acceptable as long as their monthly cost stays well below the cost of owning a new vehicle.

Honestly 90k miles isn't very high for a more modern vehicle, you should be able to get a few more years out of it, even with Uber usage. You've already done the primary depreciation on the vehicle, now you're in the zone where you make money by holding onto it.

Lastly, there aren't many leases that will allow you enough miles to drive Uber with, even as a side job. If you do want another vehicle I strongly suggest just getting a short term loan, max 48 months. It is essential financially that the loan is payed off before the vehicle has any major issues.


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## limepro (Mar 7, 2015)

I'm looking at trading my lightning in for a used g37 so my wife can have the family car back. Beware of any dealership...ANY.

I have a friend that does body work and he used to point things out to me that the normal person would never notice. Now I go to a dealership and all I see are flaws. I went and looked at a '13 g37 at a reputable dealership and the hood was repainted BAD! the front bumper was replaced and sprayed without the fleck that comes in their white, the rear bumper was resprayed, I didn't even open the hood or doors. 

I was at a ford dealership getting new tires on my truck and while waiting I was looking around the lot and saw a charger, one of the fenders was the completely wrong color and they didn't even care or notice.

These dealerships are only out to make money, there are 2 things you need if you plan to buy a used car, a good 3rd party inspection and a guy that does body work, he will be able to tell you instantly if the car has been in an accident.

My wife's old corolla had been hit lightly on the side, I never even knew as it was before I was in the picture, to me the paint looked perfect. My friend came over and before stepping out of the car he told me her car had been repainted, I had to ask her because I didn't believe it.


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## good4life (Oct 4, 2014)

On dealer lots it is very difficult to find a vehicle that hasn't had its bumpers painted or touched up. This is a very profitable cottage industry and 'lot guys' trailers in tow are incented to stop by once or twice per week to take care of these mishaps.


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