# I'm about to buy a new car for Uber. Please stop me



## Jay Murch

I'm about to go test drive a 2012 Ford Focus fully loaded which is listed at $16,000. Monthly payments at 72 months will be just under $300. Some of you may already know I drive for Uber in an F150. So far my experience with uber has been good, just not so good with the F150. (Funny story: Having a truck may have saved me from a PPA sting one night)

Rates of my current area for Philadelphia are $2.25 mile( or $0.30 a minute below 11mph) $3 base fare.

For New Jersey (where I live) fares are (just lowered to) $1.10 a mile and $0.18 a minute. $1.25 base fare.

I split my time between both the city and jersey. 

My question is this: Do you guys believe I could make up for the car payment in 1 week by driving Friday-Sunday? I have a full time job and those are the only days I can work.

Am I crazy? Should I not do this? Personal note: I kinda want the car anyway idk...


----------



## Paul Sethi

Jay Murch said:


> I'm about to go test drive a 2012 Ford Focus fully loaded which is listed at $16,000. Monthly payments at 72 months will be just under $300. Some of you may already know I drive for Uber in an F150. So far my experience with uber has been good, just not so good with the F150. (Funny story: Having a truck may have saved me from a PPA sting one night)
> 
> Rates of my current area for Philadelphia are $2.25 mile( or $0.30 a minute below 11mph) $3 base fare.
> 
> For New Jersey (where I live) fares are (just lowered to) $1.10 a mile and $0.18 a minute. $1.25 base fare.
> 
> I split my time between both the city and jersey.
> 
> My question is this: Do you guys believe I could make up for the car payment in 1 week by driving Friday-Sunday? I have a full time job and those are the only days I can work.
> 
> Am I crazy? Should I not do this? Personal note: I kinda want the car anyway idk...


I wouldn't because to me $300 is huge if you are buying just for uber because with insurance and maintenance, it would be $450 plus gas. I have a Prius and I drive part time. Huge savings with that. You can buy a used Prius for $16-17k


----------



## UberBlackDriverLA

You are making one HUGE mistake. Not by buying the car, but financing it over 6 years. This is the mistake that almost all UberX drivers make. You will easily be driving 40,000 to 50,000 miles per year. If you drive full time, 60k+ is not uncommon. You car will be worth $1000 after 3 to 4 years. It's pretty simple... If you cannot make enough money to pay the car off in 3 to 4 years, don't buy the car. 

Also, keep in mind, after UberX becomes legal in Philly, the rates will drop to match Jersey... If not lower.


----------



## LAuberX

Go for it! A shiny new car with big rims is just what everybody needs to make minimum wage !

and.........................Bankruptcy attorneys need more work !


----------



## KrisThuy

300$ x 72 months = 21,600$

this should answer your question

plus how much apr are they offering you?


----------



## UberLuxbod

72 months?

As you will likely do 3000miles a month then you will be in negative equity on that car from almost day one.

A minimum of 200k will go on that car with a figure of 300k not beyond the realms of possibility.

My advice as far as work car goes is always the same.

Go for a Prius, if you have a smaller budget then the Insight it next best option.

And automatic is a must it not only reduces wear and tear on the drivetrain in general(apart from trans wear obviously) but it reduces driver fatigue.

Any more than 3 or 4 years of work is a lot for any normal car.

Taxi drivers in NY will realise this when they eventually all drive the new Nissan NV200 Taxi.

They may think it is great, spacious etc.

But after 200k they will all miss their Crown Vics.


----------



## jerseymc

I think buying a new car for uber is a great idea. I, as a passenger wouldn't be caught dead in an older model uber vehicle to go 6 blocks for $5. Matter of fact, I might even cancel when you pull up in a focus just because it doesn't sound German enough.

$16k for a '12 focus? I'll sell you my '14 fusion for around the same price. It's equipped with everything you can think of a passenger might want or need.


----------



## UberLuxbod

If you are UberX the only consideration should be maximising profitability.

If an UberX user expects a large saloon then they can pay for it.

UberX rates do not pay for a premium product.

Keep your car clean and tidy and above all use either Febreeze or AutoGlym sprays to keep it smelling nice.

UberX punters are not paying for a high end product.

In my opinion Uber should have stuck with the high end products and left the deadbeats to Lyft etc


----------



## Jay Murch

KrisThuy said:


> 300$ x 72 months = 21,600$
> 
> this should answer your question
> 
> plus how much apr are they offering you?


Ok so I just got back from the test drive (didn't buy) but numbers looked like this: $349 (includes nj sales tax) for 60 months %4 apr.


----------



## Jay Murch

UberBlackDriverLA said:


> You are making one HUGE mistake. Not by buying the car, but financing it over 6 years. This is the mistake that almost all UberX drivers make. You will easily be driving 40,000 to 50,000 miles per year. If you drive full time, 60k+ is not uncommon. You car will be worth $1000 after 3 to 4 years. It's pretty simple... If you cannot make enough money to pay the car off in 3 to 4 years, don't buy the car.
> 
> Also, keep in mind, after UberX becomes legal in Philly, the rates will drop to match Jersey... If not lower.


I almost don't want the PPA to stop because of that. They are almost a necessary evil.


----------



## KrisThuy

Jay Murch said:


> Ok so I just got back from the test drive (didn't buy) but numbers looked like this: $349 (includes nj sales tax) for 60 months %4 apr.


349 X 60 = 20,940


----------



## grUBBER

In a truck you have a better chance surviving an accident. 
Think of the extra $0.1 per mile as extra insurance.


----------



## KeJorn

_"I'm about to buy a new car for Uber. Please stop me"_
seriously laughed out loud...


----------



## Optimus Uber

Jay Murch said:


> I'm about to go test drive a 2012 Ford Focus fully loaded which is listed at $16,000. Monthly payments at 72 months will be just under $300. Some of you may already know I drive for Uber in an F150. So far my experience with uber has been good, just not so good with the F150. (Funny story: Having a truck may have saved me from a PPA sting one night)
> 
> Rates of my current area for Philadelphia are $2.25 mile( or $0.30 a minute below 11mph) $3 base fare.
> 
> For New Jersey (where I live) fares are (just lowered to) $1.10 a mile and $0.18 a minute. $1.25 base fare.
> 
> I split my time between both the city and jersey.
> 
> My question is this: Do you guys believe I could make up for the car payment in 1 week by driving Friday-Sunday? I have a full time job and those are the only days I can work.
> 
> Am I crazy? Should I not do this? Personal note: I kinda want the car anyway idk...


what happens in 6 months when the rates are reduced to $1.10 a mile? Its happened everywhere else. just saying...


----------



## Optimus Uber

Jay Murch said:


> Ok so I just got back from the test drive (didn't buy) but numbers looked like this: $349 (includes nj sales tax) for 60 months %4 apr.


how much down payment?


----------



## Jay Murch

Optimus Uber said:


> how much down payment?


No down payment


----------



## Jay Murch

Optimus Uber said:


> how much down payment?


Yea I know I know.. I fully expect it to go down.


----------



## KrisThuy

Jay Murch said:


> Yea I know I know.. I fully expect it to go down.


i guess my advice is
u better have a 2nd source of income incase uber fell apart


----------



## pUBERty SUCKS

Don't buy a Ford "Fuc-us"


----------



## drivernotfound

This is hilarious. I remember reading that in philly they will *seize*, not impound, your car. This means your brand new mode of transportation goes up in a puff of smoke and you are making car payments for nothing. Good luck. Maybe consider moving if you really want to Uber.


----------



## uberdc/Virginia

UberBlackDriverLA said:


> You are making one HUGE mistake. Not by buying the car, but financing it over 6 years. This is the mistake that almost all UberX drivers make. You will easily be driving 40,000 to 50,000 miles per year. If you drive full time, 60k+ is not uncommon. You car will be worth $1000 after 3 to 4 years. It's pretty simple... If you cannot make enough money to pay the car off in 3 to 4 years, don't buy the car.
> 
> Also, keep in mind, after UberX becomes legal in Philly, the rates will drop to match Jersey... If not lower.


It would be easy to put on seventy thousand miles a year, or about six thousand miles a month. You are doing oil charges every three weeks.


----------



## IbedrivinUX

Stop Stop Stop, Better yet why don't you(tongue in cheek) Go through this Uber Financing deal and get you a _good deal_! You can be mking loads of payments with your weekend gig!


----------



## uberdc/Virginia

Start off with a cheap car and see if you can stand driving people around all day long. If you like it, then gradually upgrade your vehicle.


----------



## Jay Murch

drivernotfound said:


> This is hilarious. I remember reading that in philly they will *seize*, not impound, your car. This means your brand new mode of transportation goes up in a puff of smoke and you are making car payments for nothing. Good luck. Maybe consider moving if you really want to Uber.


Well then wouldn't that be great? I mean, if Uber truly does 'cover all cost' as they say the will if we get caught by the PPA, then technically wouldn't they pay for the car?


----------



## Jay Murch

So i think you guys successfully stopped me from buying this car, thank you. How naive was I? Not sure. 

I would still like to drive for Uber, but apparently buying a car at 16k which i thought was a pretty good price is the worst possible decision ever. 

I don't know what to do anymore


----------



## uberdc/Virginia

Get a used car for eight thousand or less see how it goes. You probably don't want to drive a new car into the ground.


----------



## KrisThuy

Jay Murch said:


> So i think you guys successfully stopped me from buying this car, thank you. How naive was I? Not sure.
> 
> I would still like to drive for Uber, but apparently buying a car at 16k which i thought was a pretty good price is the worst possible decision ever.
> 
> I don't know what to do anymore


i think buy a car cash for uber is the best option

or loan a car with a motive for yourself that u can afford without uber in mind
uber should be the 2nd reason or the 2nd source of income not the first


----------



## Ehmtbescrewingus

Jay Murch said:


> I'm about to go test drive a 2012 Ford Focus fully loaded which is listed at $16,000. Monthly payments at 72 months will be just under $300. Some of you may already know I drive for Uber in an F150. So far my experience with uber has been good, just not so good with the F150. (Funny story: Having a truck may have saved me from a PPA sting one night)
> 
> Rates of my current area for Philadelphia are $2.25 mile( or $0.30 a minute below 11mph) $3 base fare.
> 
> For New Jersey (where I live) fares are (just lowered to) $1.10 a mile and $0.18 a minute. $1.25 base fare.
> 
> I split my time between both the city and jersey.
> 
> My question is this: Do you guys believe I could make up for the car payment in 1 week by driving Friday-Sunday? I have a full time job and those are the only days I can work.
> 
> Am I crazy? Should I not do this? Personal note: I kinda want the car anyway idk...


Buy a good used certified pre-owned car(2-3 years old) with maintenance records let someone else eat the depreciation and save yourself some money.


----------



## Jay Murch

uberdc/Virginia said:


> Get a used car for eight thousand or less see how it goes. You probably don't want to drive a new car into the ground.


A car for 8k is going to have a ton of miles on it! at least 100k. Is it still worth it at that point?


----------



## Jay Murch

Ehmtbescrewingus said:


> Buy a good used certified pre-owned car(2-3 years old) with maintenance records let someone else eat the depreciation and save yourself some money.


so what you're saying is basically to buy the focus as intended?


----------



## josolo

Jay Murch said:


> Am I crazy? Should I not do this? Personal note: I kinda want the car anyway idk...


I would NEVER EVER EVER buy a car just to uber. There are WAY to many risks and uber issues that are unresolved and\or outside of my control, and that's not to mention wild the swings in the economy given all the bubbles over the past several years. The only way I can and would ever feel comfortable ubering is with a bought and paid for car. Even then, in my market, outside of the weekends\bar scene it's barely cost effective.


----------



## Ehmtbescrewingus

Jay Murch said:


> so what you're saying is basically to buy the focus as intended?


On the contrary if you need a new car then buy one for general purposes(and by all means seek out the best deal for your current finances), not as an investment to drive for Uber. The compensation that you receive from Uber is dependent on customer demand and the time that you put into and as its quite cyclical. If you're starting a new venture speak to accounting professional so that you can allocate the appropriate expenses with operating. Once you have the numbers in place, then you can factor in how much and when you have to drive to make the numbers. Best of luck in your decision


----------



## uberdc/Virginia

Putting a ton miles on a car is a way of life with Uber. Many Toyota's go very far. Uber has an unpredictable income stream. Yes there is good money sometimes, however, each day more and more drivers are on the road in places further and further from the main downtown area. You might get unlucky and get a string of passengers who might rate you too low. In six months, I have only had three airport rides. The pay well, however, I do not get them everyday.


----------



## Jay2dresq

Jay Murch said:


> A car for 8k is going to have a ton of miles on it! at least 100k. Is it still worth it at that point?


Ford and Toyota hybrids are known to rack up over 300,000 miles in taxi fleets with no major issues. I wouldn't hesitate to buy one with 200,000 miles, provided the interior is clean and presentable. Best part of buying with 150,000 or more miles is that its pretty much not going to depreciate due to mileage any more than it already has. Stay away from Honda hybrids though. They've had problems with their battery packs lasting less than 100,000 miles.


----------



## Jay Murch

uberdc/Virginia said:


> Putting a ton miles on a car is a way of life with Uber. Many Toyota's go very far. Uber has an unpredictable income stream. Yes there is good money sometimes, however, each day more and more drivers are on the road in places further and further from the main downtown area. You might get unlucky and get a string of passengers who might rate you too low. In six months, I have only had three airport rides. The pay well, however, I do not get them everyday.


I'm thoroughly convinced i'm NOT buying a car for Uber. However... I was just looking into this Toyota as someone previously suggested:

http://www.carsense.com/used-car/2009-Toyota-Camry-LE-C12643A/


----------



## uberdc/Virginia

However, put aside a few thousand dollars for car repairs. Clutches are expensive and so are struts and other suspension parts like control arms, etc. And you windows may go out due to door slamming. That can be 400 to 800 to repair for each window. Brakes, tires and oil changes are just regular charges. It can be very expensive. You have been warned.


----------



## Jay Murch

Jay2dresq said:


> Ford and Toyota hybrids are known to rack up over 300,000 miles in taxi fleets with no major issues. I wouldn't hesitate to buy one with 200,000 miles, provided the interior is clean and presentable. Best part of buying with 150,000 or more miles is that its pretty much not going to depreciate due to mileage any more than it already has. Stay away from Honda hybrids though. They've had problems with their battery packs lasting less than 100,000 miles.


wow thanks, what about non hybrid models, what do you suggest for brands/milleage?


----------



## Jay Murch

uberdc/Virginia said:


> However, put aside a few thousand dollars for car repairs. Clutches are expensive and so are struts and other suspension parts like control arms, etc. And you windows may go out due to door slamming. That can be 400 to 800 to repair for each window. Brakes, tires and oil changes are just regular charges. It can be very expensive. You have been warned.


Basically it may be cheaper to buy a 'newer' car. Have we come full circle


----------



## Jay2dresq

Jay Murch said:


> wow thanks, what about non hybrid models, what do you suggest for brands/milleage?


If buying a non hybrid I'd try to get one under 130,000 miles with proof of regular transmission maintenance (fluid/filter changes at least every 30,000 miles). Ford, Honda, and Toyota come to mind. Although personally I love GM, I feel I can't vouch for their longevity unless you're buying a truck, van, or SUV. One highly overlooked vehicle I'd recommend is the Ford Taurus. You can get a nice one around a 2008 vintage with leather for under $10K. They get reasonably good mileage, ride nice, parts are cheap, and they're pretty roomy for the money.


----------



## josolo

uberdc/Virginia said:


> However, put aside a few thousand dollars for car repairs. Clutches are expensive and so are struts and other suspension parts like control arms, etc. And you windows may go out due to door slamming. That can be 400 to 800 to repair for each window. Brakes, tires and oil changes are just regular charges. It can be very expensive. You have been warned.


Years of driving part time for a living... so far as parts, ...ordinarily lot's brakes and tires, rotors, cv joints, door hinge bushings, starters and alternators, lamps, filters and fluids, plugs and wires, a couple of windshields from road debris, and a battery or two. I would hate to think of having to replace batteries in an electric option car.


----------



## uberdc/Virginia

I have been trying to do more small car jobs myself to save money.


----------



## Jay2dresq

josolo said:


> Years of driving part time for a living... so far as parts, ...ordinarily lot's brakes and tires, rotors, cv joints, door hinge bushings, starters and alternators, lamps, filters and fluids, plugs and wires, a couple of windshields from road debris, and a battery or two. I would hate to think of having to replace batteries in an electric option car.


Check this out...


----------



## Jay Murch

Jay2dresq said:


> Check this out...


 That was pretty cool, thanks for sharing! Since this video looks like it came from Ford they probably wouldn't show you the stuff that didn't hold up so well. Although I'm sure they're using what they learned to improve.

After that I have a higher confidence in high millage vehicles


----------



## Jay2dresq

Yes, those 2 videos are made by Ford. Those 2 videos are pretty much what sold me on the Escape Hybrid 3 years ago. I was afraid the battery pack may not last, but after over 200,000 miles in taxi service, and it is still functioning well, I was sold.


----------



## drivernotfound

Jay Murch said:


> That was pretty cool, thanks for sharing! Since this video looks like it came from Ford they probably wouldn't show you the stuff that didn't hold up so well. Although I'm sure they're using what they learned to improve.
> 
> After that I have a higher confidence in high millage vehicles


Find a really good non-dealer car repair guy. Find out what his limits are. Do fluids yourself, minor repairs with your repair guy, major or complex repairs with the dealer only when necessary.


----------



## josolo

Jay2dresq said:


> Check this out...


Impressive, but I think I'll wait a few years. ...I'm willing to bet those cars are kept in a heated garage.

I live in the country and have a carport. This summer I had the pleasure of fending off wasps that were building a nest behind my driver side door mirror. I would open the door, get in the car ( no shock), close the door then roll the window down. Just about that time the wasps would start flying out because of the jolt of closing the door, and start attacking me as I was seat belted in. Yeah, didn't take but twice to learn that lesson. The next few times I closed the door softly, drove 10 miles away, opened and slammed my door with my window closed and drove away. ...later went home and sprayed out my mirror housing then cleaned it out. I have lots of similar varmit stories. Ever see a motorcycle shoot dog food out the exhaust? 

Long story I know but when he was talking about the vents for the battery behind the rear window, I was thinking how much they must look like a welcome sign for the wasps out here.

I would love to have an electric car because I have a solar system on my house. There is lot's of maintenance that comes with that and there's a noticeable difference in efficiency during the winter when the batteries are cold in comparison to summer temps. I know, the days are shorter and not nearly as many kilowatts being generated but I'm talking more about the rate of power the batteries are able to absorb and\or produce if they're not pampered.

Cool stuff. I put an array of dry hydrogen cells on my old nissan pickup and they increase the mileage by 5-10 mpg. It's a half assed work in progress project. I hardly ever drive it and I'm always getting side tracked with chitty-chitty bang bang type ideas. I still really want to try build one of those GEET engines.


----------



## Jay2dresq

I just found this article on long term longevity that you all may find interesting...

https://autos.yahoo.com/blogs/motor...st-and-least-durable-used-cars-214802625.html


----------

