Never buy a new car and never have more then half of your annual income in assets that are going down! In your case $20,000 is about how high you should go in all of your vehicles. Driving for Uber your car will be worthless much faster. Be smart with your money. Never a new car
With an Uber Select vehicle and working the bar rushes you probably can do that in 3 or 4 nights a month. Don’t forget Uber takes about a third in commission on Select. Personally, I would buy the nice car and buy another POS that passes and drive that to make the money for your new car. All it takes is one puker to ruin everything. Also if you are a homeowner, it’s a ton of risk to take. You really may be better off just getting a good part time job that pays $15/hr. 6 hours a week.
Tallahassee where they are from does not have BLACK or Select. Uber is phasing these out of most cities. As an example, Boston does not have Select and they stopped taking new Uber Black drivers over 2 years ago.
If that’s the case, just buy a 2008 that qualifies and gets good mileage and drive that. Since he’s only driving part time I would go with an older car, full time I would recommend a cheap new car.
Not this shit again, who pays taxes on this gig??? You have to be a TFM to pay any taxes at these rates. If anything, doing this gig will lower his taxes from his straight job.
At UberX rates, you will have to work 25 hours per week to make your $500 per month. And do you want the college kids puking in a new Mercedes? Go ahead and buy your new car, but keep your old clunker to make money Ubering in to pay for the other car.
No one making $36K-$42K a year needs a new Mercedes. You are crazy! You don’t need to finance a $45K+ car even with the hope of earning more money. No matter how much you “figure” you will make with Uber or any rideshare, you will make less and less each month.
4 months wages, or about 12-14k in your case, is a plenty large enough amount to pay for a car. And even if you wanted to press it a bit on the initial price, Mercedes is a very expensive automobile to maintain. A gal I used to work with owned an S-class Benz, had to basically take it to the dealer and the bills were outrageous.
Buy a 2k car off craigslist. Run the shit out of it. Save. Then buy your CLA. also, the CLAs coupe backseat design is uncomfortable for passengers over 6 foot.
Trust me, I have a CLA. Been running it for a couple days just for fun and will only run it for about a week more until I get my registration on my old Mercedes c230.
A big #1 question that you need to answer, can you afford those payments if UBER does not work out for you? Don’t get yourself financially obligated to something like that until you are sure if UBER works.
I should of added that you should at least give doing Uber a try for a few weeks with whatever car you have now or if you don’t have a car do a rental for a week or two via Uber . You’ll probably end up in the red on the rental cost if only doing it part time but at least you’ll know if you even want to mess with it before you commit to a new car in the hopes to have uber driving cover the payment costs
If you want the car and would Own It Anyway without uber I would say yes , and go to select route. but if you’re depending on the the profits from Uber to pay your Car payment it is risky because you could be deactivated on a whim, keep that in mind.
Having owned a total of six Mercedes and BMWs, BMW has by far a better maintenance program; free maintenance for four years. I understand Mercedes has a new program with limited free maintenance. The scheduled maintenance on our Mercedes runs about $500-$800, the BMW is $0.
You can do the xchange lease for two weeks and turn it in with no disposition fee… I think. Of course, don’t tell the dealership you’re only keeping it for two weeks.
Of ypu dont drive now you should try first. What if you get booted asap? Ratings fall too low… or somethi g else might not even be your fault… you might hate it too… i use an extra 100 bucks a month in cell data as well…