If you are an Uber driver or planning to be, choosing the right car or van is incredibly crucial to your bottom line. Buying a new one is not a good idea for several reasons. For starters, new vehicles are more costly than pre-owned. It means that you'll also have higher monthly payments. Insurance premiums will most likely be higher as well. In short, buying new for an Uber or other ride sharing service is not practical.
A high-quality used car is a much better alternative. Nevertheless, finding one that will fit your needs perfectly and will provide the best value is easier said than done. It's important to keep in mind that every used car is unique. For this reason, you should never pay more for a car that it's worth. Aside from the initial investment on the vehicle, there are other operating expenses.
Never rush into a buying decision without assessing your budget. Find a reliable vehicle that has an excellent repair record. Make sure that the car has a clean vehicle history report (VHR) by running its VIN on CarFAX. Look for any accidents, poor service record, or similar red flags that may indicate problems down the line. Don't take the seller's word for it and do your research.
A car with a low mile per gallon (MPG) is always a wise choice for ridesharing services. There's no point in buying a gas guzzler if you intend to make as much profit from it as possible. A hybrid or a lightweight car are preferred choices.
Most assets lose value over time and cars are no exception. Many new vehicles drop in value by as much as 20-30% in the first year. Search for quality cars that tend to hold their value over time. Regular maintenance and inspections will also help you in this regard.
Transportation Networking Company (TNC) policies are available through Uber whenever you are on the job. Nevertheless, these will not offer coverage when you are not working. It means need to purchase private coverage. Some vehicles, however, like luxury cars and SUVs come with higher premiums.
What Do Passengers Want?
You will also need to take the passenger's perspective into account when choosing the right vehicle. Their comfort or lack thereof can make the difference between tips or no tips, as well as good or bad reviews.
Look for a car that has working AC, heat, backseat USB ports, power windows, and seats, etc. Likewise, ample leg room and a spacious interior that will cater to all body types will go a long way. Four doors are a must, and so are safety features such as airbags. Keep in mind that the more safety features a car has, the lower the insurance premiums will be.
If you're interested in a vehicle that will be sure to bring you a lot of business, look no further. Auto Market of Florida has a sizable inventory that will surely provide you with the perfect ride-sharing vehicle. Financing will not be a problem!