I have $3000 to my name and am planning to buy a brand new basic car with a bank loan so i can stop paying a rental car that i need to have in order to keep driving for uber. I also work 2 other jobs and have barely any rent so income is good right now... its looking up...but i cant shake that it could all go bad in an instant and then im trapped. i could lose both jobs and have nothing and still have the loan payments to make. With the rental at least i have the ability to stop when i want (just i'll have no car), and a plan that provides another car if this one is damaged/needs maintenance. Buying the new car negates that, gets me paying the loan + insurance + the mystery maintenance that might spring up some times and theres always the chance its totalled right as i drive it off the lot...but its cheaper. And I hope the dealer's warranty will cover all major maintenance for at least 4-5 years. I've been putting it off for awhile because of this, but i need to jump in soon. what would you do.
>>32335716That seems like a bad plan. You say you have 2 other jobs and income is good, so why you need to keep doing uber in particular? You could buy a solid used motorcycle for less than 3k cash for getting around.
>>32335716I bought two cars for about $4500 in total and learned how to fix their problems!And boy, they had problems.That probably wouldn't fly with Uber, though. But the insurance is cheap (just liability) and I have no loan to pay off.
>>32335716If you have 2 other jobs, I would prioritize those over putting yourself into 10's of thousands of dollars into debt. Find a reputable used car dealer near you and buy 5-10 year old car. Unless you need to work for Uber to continue to live, I would find another side hustle for extra cash that doesn't require you to keep up with appearances when you clearly can't. $3000 is a good amount for your savings. $3000 and $22,000 in debt is a death sentence if something in your life goes wrong.
>>32335728This is true. Most people who own these low-end cars and complain about them being expensive is because they don't take the time to learn to self-diagnose and self-repair their own vehicle. One of the most common repairs on vehicles are brake pads and rotors. With the proper youtube videos and around 1 hour of your time, you can change your own brake pads and rotors for under $200. If you take that to a mechanic it can be upwards of $700, $800 or $900. Learn to do it properly so you don't fuck it up, and you will save yourself a good amount of cash.
