I have been thinking of getting into doing Lyft for extra money and to get out of the job I am for a little while. The only problem is that I need to get something much newer then the 02 subby outback wagon I own. I have been thinking of something like a midsized SUV That can also double as towing a car on a dolly this summer for doing some racing at autocross and maybe drifting. I can state I really do not know much about that type of car right now. I did own a 98 rodeo a few years ago and a 06 trailblazer.
Right now its doing research into cars and the company and then hitting the button for a small loan for a extra toy to drive.
Ideas and looking for something about 2010 or so to hit an easy button and have to look at costs of something. Need some ideas of things to look at for prices and what they are like right now for Truck ideas. Thank you guys for your help.
In before the comments about buying a vehicle and having a loan with an eye toward using it for Lyft and the economics of that purchase. Lyft seems to only make sense if you already had a niceish vehicle and a decent job and are just looking for extra money.
Around New England at least, 2005 era trucks in decent shape are holding their value at stupid levels. 2010 trucks are ridiculously priced.
Around my neck of the woods I couldn't make the numbers work for Lyft, especially once I added the cost of buying a car. Maybe the economics work better where you are, but definitely run those numbers before you make the jump.
Around me a lot of folks are starting to work for LaserShip (Amazon's last-mile delivery contractor). I haven't tried to run the numbers on that but perhaps that's a more financially viable option?
plain92
New Reader
2/13/18 11:41 a.m.
Good question. For people of our particular skill set we can keep a Honda running so long that the cost practically becomes negative (what I mean is an '88 Civic approaching 300k that has hardly ever needed anything and still runs like a top and gets 40+mpg that you purchased for $750 and bought all of a set of tires for and fixed a loose wire over 50k+ miles). Way at the extreme end, we see it's technically possible to operate a vehicle for fuel cost + less than $1k. This is only a fragment of course, and I don't imagine some economists agreeing.
People come to expect a certain standard when calling for a ride, and I'd probably look somewhere between resale value 2-6 years old, mileage depreciation, total vehicle cost and mpg. I still think you'll make out best with a Toyota Echo or Ford Focus but I'm not sure if having a small car would detract from business or maybe too uncomfortable to spend much time in. At the airport I noticed a peculiar phenomenon that it looked like the same Uber Prius was hauling everyone away in other words like all the Ubers were the same color and year Prius. If you sign up to purchase a brand new vehicle in order to be a driver and then pay your own insurance and gas and rack up 60k miles on your new car in a year, I fear that you may actually be paying money in order to be a chauffeur, I haven't done the math, but yeah keep the costs low if you can.
Mndsm
MegaDork
2/13/18 11:45 a.m.
Lyft and uber? Camry and snow tires my friend.
I am a frequent uber-er and it seems like the cars have taken an edge toward the E36 M3 pile recently. Been picked up in some real hoopties including an 03 or so impala with mismatched panels that reeked of weed and air freshener. Ultimately don't care too much because I always get where I am going, but not exactly the "better than a taxi" they used to be.
But yeah I don't think its economically viable to buy a car nice enough, quit your job, and make any sort of a living driving around. If you want to be a paid driver you would be further ahead getting a job at UPS or with an actual freight company. Do you have to pay for your own health care too? 401k? Cell phone?
