Another which car thread: Lyft during the week, HPDE on the weekend.

I currently have a traveling job. When I'm at work I make decent money, but the work can be unpredictable and at times it is quite unnerving when you don't know when the next paycheck will come. As such, I was thinking about driving for Uber or Lyft. Certainly other jobs may pay better, but few offer such flexibility in scheduling.

I currently have a '97 GMC Sierra and scratch my autocross itch with codrives and rental cars. I have a shifter kart project that will hopefully be running soon as well. However, I really would like to add a nice fun car to the stable that I can occasionally autocross and pop my HPDE/track day cherry with.

I'm wondering if I can merge these two desires successfully. I really prefer manual transmissions and RWD, though I suppose neither is a hard rule. Currently the ideas include:

E9x 335i, maybe even F3x

E6x 535i

Chevrolet Caprice

W204 C300/350 Manual

M56

CTS 3.6 Manual

Any others? Would I just be much better off buying a minivan and a Miata?

Any job will pay better than Lyft. Deliver pizza. Clean houses. Babysit.

Do the math. It’s a horrific deal. But great if you’re the customer....

I know this is a car forum but you DO have 6 months savings in the bank right? If you don’t, you need that before an e9x BMW, etc.

After college, I delivered pizzas for a while at night and worked at a coffee shop during the day. Honestly, it paid better than my first "real job". I've known a few people who work for Lyft and Uber and while the scheduling is nice, the pay does kind of suck. They do it because they like to drive and can work an hour or two when they want. Definitely not the kind of thing I would count on as a buffer. 

How many pizza places and coffee shops want to deal with a guy that could be gone tomorrow at any given time? Same for much cleaning work.

The last Lyft driver in my area I spoke to says he usually makes over $30/hr after gas, but he definitely strategizes where and when to drive and it is his primary source of income so he puts quite a bit of time into it. For me, this is not really a primary source of income so much as a way to subsidize having a nicer car that I would want anyway. 

I would check, but you can probably write off a bit of your car expenses as a business expense? Not for sure obviously, but make sure to investigate those avenues, as they can take a losing proposition into a winning one. I'm sure this knowledge is just a google away. 

Good luck!

*edit Gooooogle:

https://www.nolo.com/legal-encyclopedia/tips-tax-deductions-uber-lyft-drivers.html

https://turbotax.intuit.com/tax-tips/self-employment-taxes/tax-tips-for-uber-lyft-sidecar-and-other-car-sharing-drivers/L3IulMEzp

etc

Price limit?

An E90 isn’t a bad choice for what you’re describing...but I’d make it a 328 instead of a 335.

I’ve got a 335xi as a daily driver. Horrible fuel economy: I’m averaging something like 16 MPG around town and 19 MPG in mixed city/highway driving. Maintenance costs are high for a BMW. Lots of issues with the direct injection system, bad coils, and other unexpected weirdness.

As for the track, I took mine out once just to see how it does. It was fast, but with all that power and weight, it beats the living crap out of tires and brakes. I didn’t have this problem, but people also complain about oil temp issues, triggering limp-home mode, and that kind of thing. Seems like they’re not really track-ready without some mods.

The 328i is closer to an E36 M3 in performance. Sweet engine. Much better fuel economy. The simplicity of port-injection (rather than DI like the turbo versions). No heat issues on track. 

In any case, avoid the Sports pack at all costs. The suspension is way too stiff. Your back seat passengers will be puking all over your headliner as they rattle around back there. Good if you're running a mobile kidney-stone-passing service ... not so good for a regular car service. 

LanEvo said:

An E90 isn’t a bad choice for what you’re describing...but I’d make it a 328 instead of a 335.

No love for the 330?  A friend has one and the extra torque is nice.

In reply to red_stapler :

Sure. Whatever it is, stick with RWD, manual trans, and non-turbo.

If you insist on a 335, go with a 2011+ model with the single-turbo N55 engine. I don't have any experience with them, but they're supposed to be less trouble than the earlier twin-turbo N54 version. The facelifted models also look a lot better IMNSHO.

What's your budget?

Maybe the newest Dodge Charger w/Hemi that will fit your budget?  They're auto only, but RWD, gobs of power, gobs of room for passengers, plenty of performance parts available.

Seems like the perfect fit for a Focus ST. 

He’s talking about driving Lyft for extra money.

I really mean this in the nicest way possible: you might be able to afford to track a Miata. MAYBE. I’ve just finished up my first season and with a $1500 truck, borrowed trailer, $1500 NA and most value-oriented safety gear I’ve still spent $10k. Maybe more.

An e90 or whatever else you suggested isn’t in your budget for something you can track, or possibly even DD. Get your budget and finances sorted, save up, then come join the fun. I mean that in the most sincere way. Don’t be car poor.

If you need advice getting started in HPDE, personal finance, whatever, just PM me. I would rather you come join than go broke trying to pay off a BMW via Lyft. 

Whats the budget? You already have a tow vehicle so yes a miata is the cheap/best answer for track time.

As others have mentioned you can't really count on the income from Lyft.

You can take almost anything to an HPDE and have fun, but that is just what is going to set you down the path.

4 door Cadillac ATS Either base turbo 4 or if you have the coin, ATS-V for 464hp fun.  There are sticks, just have to hunt one down. 

Yeah after the Camaro 2.0 thread I was going to suggest the 2.0 turbo ATS with a stick

Blaise said:

He’s talking about driving Lyft for extra money.

I really mean this in the nicest way possible: you might be able to afford to track a Miata. MAYBE. I’ve just finished up my first season and with a $1500 truck, borrowed trailer, $1500 NA and most value-oriented safety gear I’ve still spent $10k. Maybe more.

An e90 or whatever else you suggested isn’t in your budget for something you can track, or possibly even DD. Get your budget and finances sorted, save up, then come join the fun. I mean that in the most sincere way. Don’t be car poor.

If you need advice getting started in HPDE, personal finance, whatever, just PM me. I would rather you come join than go broke trying to pay off a BMW via Lyft. 

I think this is some good 'tough love'. If income is sporadic enough that the OP gets nervous from time to time, then spending a bunch of money on a new car is probably going to make it worse. Having a car payment rarely makes life easier. Doubly true if cash flow isn't consistent.

If the goal was just to have a Lyft appliance to make extra cash, then the cheapest Prius that meets their terms is the answer. But that's not going to be engaging to drive, and anything that is engaging will likely soak up any Lyft income (and then some) with consumables, insurance, and monthly payment.

Just like all my suggestions I'll stick with what I always say: focus st. 4 door hatchback (lots of room), 6sm, turbo, recaro seats. Decent mpg. Can be had new for 24 or used for 14 

You could lease an interesting, new car then rent it to others on Turo.  Keep it blocked off for track days.  Scale if it works?

https://sidehustleschool.com/episode/32/

I genuinely appreciate the concern about my finances. I absolutely don't have 6 months of anything in the bank, but if that worried me I wouldn't have spent a month in Brazil or moved to Malibu or bought the shifter kart or...

Life is to be lived and money is water under the bridge. I once talked to Dennis Palatov of dpcars.net (absolute hero for so many reasons) and in talking about what allowed him to do what he was doing he said that being comfortable with having a credit card balance that looked like a mortgage was a big part of it. Whether his approach or yours is wiser for someone without a family to support or a mortgage to pay, I don't know. But I'm having fun and investing in myself in the meantime.

Back to cars, Lyft has a "Lux" service for higher end black cars. Looking at this the sensible option would be to buy an ES350 and, for a minimum of money, have the potential to earn much more money while driving. The ML55 is also specifically allowed, as is the Porsche Cayenne... interesting...

The Focus ST really doesn't do it for me. I got a very fast ride in one and understand they can be fun and competitive, but the idea of an ATS interests me much more. This one caught my eye https://www.autotempest.com/details/dt-114153793/

In reply to Crxpilot :

Turo is undoubtedly part of the plan. Whenever I'm at work, the car will be idle otherwise.

2010+ Acura TL SH AWD. good all weather car, the handling really is SUPER.

Focuses (and I'm sure the ST is the same) ofthat vintage are NOT large inside. The backseat is quite tight especially if you have someone talk up front. 

Consider that people riding in taxis generally sit in the back.

That said, if you want to work for yourself and control your own hours and probably make more than Lyft, here are some ideas: file property tax appeals for people, do home energy audits and reports, make chicken coops out of cast off construction materials, be a traveling oil change service (go to large office building and change oil in the parking lot), offer a gutter cleaning service, be a general handyman/ snowshoveler/ lawn Care/ etc

white_fly said:

I genuinely appreciate the concern about my finances. I absolutely don't have 6 months of anything in the bank, but if that worried me I wouldn't have spent a month in Brazil or moved to Malibu or bought the shifter kart or...

Life is to be lived and money is water under the bridge. I once talked to Dennis Palatov of dpcars.net (absolute hero for so many reasons) and in talking about what allowed him to do what he was doing he said that being comfortable with having a credit card balance that looked like a mortgage was a big part of it. Whether his approach or yours is wiser for someone without a family to support or a mortgage to pay, I don't know. But I'm having fun and investing in myself in the meantime.

 

Back to cars, Lyft has a "Lux" service for higher end black cars. Looking at this the sensible option would be to buy an ES350 and, for a minimum of money, have the potential to earn much more money while driving. The ML55 is also specifically allowed, as is the Porsche Cayenne... interesting...

The Focus ST really doesn't do it for me. I got a very fast ride in one and understand they can be fun and competitive, but the idea of an ATS interests me much more. This one caught my eye https://www.autotempest.com/details/dt-114153793/

Your best option after looking into this in the past I believe was to get a black ford expedition. The reason was expedition has second row captains seating which makes accessing the third row easier and it qualifies for black/luxe/XL/suv whatever classing. So sell your sierra get a black SUV, and buy a miata with your lyft earnings

white_fly, have you also factored in how you're going to insure this car while on track?  Last I checked, track-day insurance made participating twice as expensive (or more), plus the deductible was like $5K.  You may be a braver man than I, but anything of significant value of mine (payments or not) doesn't get put in a potential total-loss situation.

That said, I guess it depends on how many track days you really want to do per year vs. enjoying your street car.  I like Jaynen's idea if track time is high on the list of priorities.  That said, I don't think I'd enjoy driving an Expedition every day. 

Matt B said:

white_fly, have you also factored in how you're going to insure this car while on track?  Last I checked, track-day insurance made participating twice as expensive (or more), plus the deductible was like $5K.  You may be a braver man than I, but anything of significant value of mine (payments or not) doesn't get put in a potential total-loss situation.

 

That said, I guess it depends on how many track days you really want to do per year vs. enjoying your street car.  I like Jaynen's idea if track time is high on the list of priorities.  That said, I don't think I'd enjoy driving an Expedition every day. 

I went through this in a different thread, HPDE insurance from Lockton is reasonable and the deductible was $3k, not $5k.

If he isn't concerned with his finances, we should all leave the holier than thou stuff elsewhere.