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$1,000 purchase for a car? Is it just a deposit or full price for the car? I think it would be more comparable doing these calculations with some sort of median
by richardknop 9y ago
$1,000 purchase for a car? Is it just a deposit or full price for the car? I think it would be more comparable doing these calculations with some sort of median car, so medium sized sedan, 5-8 years old. Surely it would cost at least 10k to buy an average car like that?
I don't think it's fair to make these comparisons using these super cheap cars as presumably better car gives you more comfort and smoother / quieter / more comfy ride experience. Average Lyft/Uber car would cost way more than $1,000 to purchase.
On the other hand, the correct way of making this comparison would be to compare x years of Uber/Lyft usage vs X years of car ownership and I think 10-20k cars that you own would come out ahead in a 5 year comparison, for example (reasonable period of time, most people don't buy new cars more often than every 5+ years).