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Vehicle Options

Discussion in 'Uber Drivers Melbourne (all VIC towns)' started by Bases Loaded, Oct 9, 2017.

  1. Bases Loaded

    Bases Loaded Member

    Just wanted to quiz people on their vehicles in this forum.

    Have you bought a vehicle on finance; did you already have a vehicle loan before starting uber?

    Do you own your car outright?

    Do you hire or lease a car?

    I've gone through Splend when I initially started but was not satisfied with their customer service or their km/week limitations so eventually got a car on finance but in terms of cash flow for me it is just not worth it.

    I am keen to hear from other drivers that may be on similar hire or lease arrangements to possibly find some different providers to the ones that Uber promote in their marketplace. Particularly ones that allow you to choose your own car - if I'm going to keep doing Uber, I'll keep operating with a diesel car like I have since I started - and none of their marketplace providers have this option. And they're also mostly rip offs.
     
    skyco likes this.
  2. DriverX

    DriverX Active Member

    You mentioned Splend so i assume you Uber full time or close to it.

    Splend is a very bad deal for drivers. You are much better-off buying a car (with no more than 80,000km on the odometer) spending around $14,000 and paying it outright, you can then sell it once it reached 150,000km for about 60% of the value you have paid.

    Alternatively, you can take finance for 5 years BUT bear in mind that you are likely to sell the car way before the 5 years elapsed having to continue to service the loan or pay it outright once you want to sell the car, about two years later (full time Ubering).

    Finance for 5 years on $14,000 is about $280 per month. That's about $70 per week which is way better than Splend's $280 plus per week.

    P.S.
    Plenty of diesel models around (2012-2014 models) in that price range. Look for a Japanese, German or a Ford.

    I hope this helps. Good luck.
     
    skyco likes this.
  3. Bases Loaded

    Bases Loaded Member

    Thanks for that. I am doing 30-35 hours per week. I realised splend was a bad deal, but when I started, I had no income and no uber-approved vehicle, so it was a very easy in.

    I used it for around 6 months then purchased (on finance) a 2013 Skoda Octavia. I don't have any savings whatsoever so was never in a position to purchase a car outright.

    The problem I have is that it has now hit 160,000kms and I owe more than I can sell it for. The on-road costs and repayments are killing me, which is why I was going to lean further towards a leasing agreement.

    I'd much prefer the peace of mind in paying X per week and having everything covered, and also having an upgrade option on a term I decide.

    Really need to find a way out of my loan, it's not worth paying that much for a 160k+ car.
     
    skyco likes this.
  4. DriverX

    DriverX Active Member

    According to carsales.com.au your current vehicle is worth approx $13,000-$14,000 if sold privately. I can understand your reasoning to go with Splend but bear in mind that you actually pay quite a lot for the 'peace of mind' in expensive weekly lease repayments. The only positive i can see going Splend is the short commitment.You can return the car back after a relatively short time and owe nothing.

    But similarly, you can sell a financed car after a short time and repay the loan. It all comes down to finding a good second hand car with the right price/milage balance. Hence no more then 80000km, and not more than $14000. It makes much more business sense that way.
     
    Last edited: Oct 10, 2017
    skyco likes this.
  5. Uberx zoom

    Uberx zoom Well known member (founder)

    This discussion highlights RSDU's core issues with Uber.

    Driving at current Uber disgraceful base rates drivers are losing money and are financing the entire Uber experience out of their own pockets, while Uber cuts a healthy commission on the entire deal.

    What a disgrace!
     
    skyco and Cold Gin like this.
  6. skyco

    skyco Active Member

    Just bought a diesel car myself. A ford mondeo 2013, auto, with 75,000km and about to collect it tomorrow. Never had or driven a diesel car before. Can you shade some light on likely expenses/services and fuel economy?
     
  7. Bases Loaded

    Bases Loaded Member

    900kms per tank city driving, between 5.8-7.0 l/100km

    Servicing every 15,000kms cost me around $230 at an independent & trusted mechanic.

    Ford parts are cheap, unlike my VW (Skoda) parts, so you should be pretty safe.

    Try not to purchase diesel at big fuel chains (BP, Caltex, Shell) as they now only stock premium diesel and charge 15c/litres more than independents.
     
    skyco likes this.
  8. Bases Loaded

    Bases Loaded Member

    Electronics in the Fords can be a bit sketchy.
     
  9. Bases Loaded

    Bases Loaded Member

    I may need to try on the private market again after fixing some small panel damage, in that case.

    I wouldn't go back to Spend, I would find a different provider (potentially not even involved in ride share) and lease a secondhand vehicle if indeed I went down that path.
     
  10. skyco

    skyco Active Member

    What do they normally do in an 15,000km service. Just oil and filter changes? or are there any special diesel engine related adjustments that must be made?
     
    Last edited: Oct 10, 2017
  11. Bases Loaded

    Bases Loaded Member

    Generally add a diesel treatment to the engine which is around $25, otherwise everything else is normal. You will find diesel oil to be slightly more expensive than normal engine oil, but the fuel efficiency of the vehicle itself outweighs that cost.
     
    skyco likes this.

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