So I’ve been doing Lyft a little over a month now and I’m just done with $260 a week for a rental that has issues and Hertz won’t fix. I want to buy a car but I’m torn over how much to spend. Do people really many more money doing XL, BLACK, or SUV. I don’t know if it’s worth me buying a Denali or Cadi or should I just get a regular crossover and hope for the best? This is my full time job and I intend on staying.
You know that each week you can take the car up there and switch it out if you dont like it right? You can even request a different store
I’ll drive further for better service. But still done and tired with $260 a week. For something I don’t own. I think the programs great and I would have never started Lyft if they didn’t have it but now that I know I like it and will stick to it I want to invest.
Do not buy a luxury unless you can afford it ^ I got very lucky and I’m absolutely thankful I got this trip Saturday morning at 1 am and I got to meet two famous people and talk like normal people! Luxury can be worth it once in a while but again unless you’re making quite a bit of money you’ll be upside down and also if you don’t focus on the engine size etc etc my Cadillac is very Pristine and it’s a 4 cylinder most think it’s an 8 cylinder
All because his own jet engine 1 failed than he went to Mccarran and the flight wouldn’t have been till around 5-6 cause of cross winds so he called an Uber and I got it
Good for you on wising up to that rental bullshit.
Don’t get terribly focused on a ridiculous vehicle. I bought a 2016 Ford focus that still had 30k left on the factory warranty for $11,000 just for Uber/Lyft. In 3 weeks of driving it, I already paid 30% of it after all expenses were deducted. Parts are cheap because it’s a Ford, license and taxes are cheap, and it’s good on gas.
Maintenance on BMW/Porsche/Audi etc can break the bank. As long as it keeps running you’re good, but the difference in a BMW transmission and a Ford transmission could literally be the price of a replacement car.
It means you have to be a register delivery company. Have your in DBA, LLC/Corp, permits from the State of NV. Commercial Insurance. Your a Limo ! It’s really expensive to do all this.
CarGurus .com Ford C Max 5-6 k, mine gets 42 mpg overall, also check out Ford Flex there, similar money. Cars can be shipped for surprisingly little money. If you can’t find financing anywhere else use Prosper com their rates are not so good but at least it would be your car and you could pay it off fast.
The problem with owning your own car you drive my car into the ground very quickly in this business your car depreciates so rapidly and in this business you really don’t make enough money to replace the car that’s the downside, that’s why I enjoy the Lyft rental program.
I’ve been saying the rental program makes more sense if your going to drive full
Time. Buying a vehicle to drive full time is bullshit on maintenance and parts that wear in tear like the suspension breaks rotors. Those are basic things that wear and tear. That all comes out of your pocket. It’s stupid
There is absolutely no downside to owning and driving your own car.
It’s still unimaginable that people think paying $12,000 year in rent is a good deal. Example:
Pay in 1 year $11,000 for a car and I own it. That still has some factory warranty left.
Pay $500 license/tax
Pay $500 for tires/oil changes
Total end of 1 year $12,000. If the car is old and worn out (which it won’t be in 1 year) sell it for $7500 and buy a new one. So you ended up spending $3500 for the year in vehicle costs.
Rent a car for $275/week = $14,300/year and you don’t own a damn thing at the end of the year.
So where a renter loses $14,000 of income per year, someone that buys a new car every year would lose $3,500 per year.
If the car owner only buys a new car every 2 years, they would spend $3500 first year, then $1000 second year for $4500 in 2 years.
Where the renter will spend $28,000.
I’m not going to be renting anytime soon, and not sure why people can’t do basic math.
Secondly, can you legally do a mileage deduction on a rental since you don’t own the vehicle? Not a good question for my accountant, because I’m smart enough not to drive a rental.
Also a quick Google shows that you are not allowed to deduct mileage but you can deduct the cost of the rental itself. So that’s another hit on rentals…
Own a car, drive it 40,000 miles and you can deduct $21,800 for mileage.
Rent a car for $14,000 and you can only deduct $14,000
There is still zero reasons to rent lol. And actually the more I think of it, the larger the gap of benefits between owning and driving get.
Exactly! and after that 2.5 years, every penny of that $ you pull in is just icing on the cake. If you maintain the car well, you can run them for quite some time. I’d actually recommend dumping everything you can extra into paying it off sooner because I’m a cheap ass and hate loans on anything. Only thing I have a loan for is the house, because I didn’t have an extra $200k+ just sitting around in the bank.
Go to the one on n Rancho I’ve been doing it for 6 months now and have had a few problems with the cars but they have gotten me into a new car easily every time
I know of a great dealership if you need … in house finance no credit check n low key sell to Uber n Lyft drivers no questions asked …