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> How many of these are ride-share drivers who purchased a new car for that purpos Don't think it's that much. Ride-share companies ( Uber and Lyft) allow driv
by justboxing 8y ago
> How many of these are ride-share drivers who purchased a new car for that purpos
Don't think it's that much. Ride-share companies ( Uber and Lyft) allow drivers to lease vehicles from them for as low as $170 / week, so unlikely that there are that many drivers have bought cars on loan for this purpose.
Source: My friend here in SF who leases from Lyft.
- kop316 8y agoYou do realize $170/week is $680/month, and for leasing that is extremely high. I shudder to think what the high end is if you say "as low as"
- cosmie 8y agoIt's high compared to a typical lease, but a typical lease also generally includes significant penalties if you go over 10,000 - 12,000 miles per year. $680 isn't unreasonable considering the accelerated rate of depreciation and wear & tear that would come with the amount of miles a full time rideshare driver is going to accumulate. And will be mostly all tax deductible, due to the bulk of mileage being business travel.
- kop316 8y agoI have never driven for lyft, so my follow on question would be assuming 20 hr/week and 40 hr/week, what is the average and std dev of the wages of a typical lyft driver? I ask because though that is a good point, that is dangerously close to indebting a lyft driver to the company. Make them pay a huge cost for a car, and they have to drive more to make up for it. To put it in a different context, my loan for a $20k car over years was $450/month.