Driving for a rideshare company, like Uber or Lyft, is a great way to generate extra pocket money. For some, it can even become a full-time job. There’s just one thing you need before you can become a rideshare driver, though—and that’s a vehicle.
What’s more, you need a vehicle that meets certain criteria. Most rideshare platforms want you to have a four-door vehicle. And, while it varies from one state to the next, it’s generally expected that your car be fairly new. In some markets, Uber and Lyft drivers can’t drive a vehicle that’s more than five years old!
If you already have a qualifying vehicle, that’s great—but what if you don’t? Is it possible to get a good deal on a used car, and still ensure that it’s rideshare compliant?
Why Buying Used Makes Sense
The short answer is yes.
In fact, buying a used vehicle that’s two or three years old may be the ideal option for any consumer. After all, a vehicle that’s still fairly new will have plenty of life left in it, and it’s unlikely that such a new vehicle will have any serious maintenance issues.
At the same time, it’s widely known that a car’s value depreciates significantly as soon as it’s driven off the lot, and that the bulk of its depreciation happens in that first year.
Buying a gently used car is a great way to avoid that big depreciation hit while also saving money on the sticker price. For Uber and Lyft drivers, it just makes sense.
Finding the Best Deal on a Rideshare Vehicle
But how can you find the best deal on an Uber- or Lyft-compliant vehicle? Here are a few tips:
- Make sure you buy from a reputable used car dealership, the best way to ensure the proper consumer protections. Contact Get My Auto to find a good dealership near you.
- Tell your sales rep that you’re looking for something you can use for rideshare purposes, and he or she can help you narrow down your options to good, compliant vehicles.
- Also ensure that you know what the regional rideshare guidelines are, and that the car you purchase will serve you well for at least a few years.
- Shop around for financing options. Make sure you speak with a few local banks and credit unions, who can often offer the best deals.
- Do your due diligence. Test drive the vehicle, and if you have any uncertainties about it, ask to take it to an independent mechanic.
Note: While there are other options for acquiring a rideshare vehicle, such as renting one, buying one is the better investment—because when all is said and done, you’ll actually own something of value. And with the right dealership, you can find a good vehicle that’s truly affordable.
Learn more about buying a used car for Uber or Lyft driving. Reach out to the Get My Auto team today.