Hello,
I'm looking to purchase several used cars (10-7 years old) that will be used for Uber or Lyft in an urban area. I'm looking to spend a maximum of 6k/ car. What are some of the most reliable cars I can buy?
Some of the cars that I have in mind are listed below:
Toyota Camry
Toyota Corolla
Toyota Prius
Nissan Altima
Nissan Maxima
Nissan Sentra
Honda Accord
Honda Civic
Hyundai Elantra
Hyundai Sonata
Kia Optima
I'm also open to SUVs if you have any suggestions. Please feel free to recommend a car(or brand) not listed above as well. Any feedback is greatly appreciated. Thanks!
Please remove all the Nissan's from your list at 100-120k miles the transmission's go out thats why they are listed so cheaply
Stick to the Camry/Accord or Corolla/Civic if you want the most reliable vehicles.
No matter which car you buy, have it checked out by a good mechanic, before you buy it.
What I don't understand if your planning as a business, why not new and utilized factory warranty instead of repair cost, tax advantages, more uptime (theory), depreciation and potential free loaners right away if one does go down. I think if you do a detailed analysis and take into account success others have with this model, you'll come to the same conclusion.
Buy X% Toyo, cheapest best mileage.
Buy 100% minus X% of the largest you can afford.
%'s based on typical passenger loads for your area.
Good point, when you consider the big picture for the intended use case.
Ok let me explain. I'm renting the cars out to Lyft and Uber drivers. I have 2 cars that were financed under my name. I am not eligible for more loans (2018 Toyota Camry, 2018 Hyundai Elantra.) The difference between what we can charge on a new vs. used car is not that much and I do not have enough cash to pay for a new car outright. I want to purchase 2 used cars. The cash flow from these 2 cars ,along with the other ones I have, should allow me to purchase higher quality, newer cars in the future. Thoughts?
Get SE Corolla's for the time being then. Get Company name legal and start building it's credit, don't worry about yours at the moment, i.e. don't let company business operations impact your credit. And good luck growing your fleet : )
anything TOYOTA all the way, cheapest to purchase, don't break down much, dont use much fuel.
If going to the airport or need a ton of luggage space for customers, I’d go with the Accord or Camry.
Otherwise I’d go with the Civic or Corolla for gas mileage and smaller.
if the hybrid battery is in good health, the Prius isn’t a half bad choice. Just expect to need to change the hybrid battery eventually, especially at that age mine went 16 years, 275K miles before needing a change
The Elantra and Optima are the same car, BTW.
no they are not. That is the Sonata and Optima. The Optima and Sonata have engine issues with their 2.4 and 2.0 engines they have GDi and TUrbos and have nothing but problems. The Elantra's are a whole different platform that if more reliable.
In an urban area, prius's have regenative braking so are really efficient. You can consider a Prius V which is a large hatchback. Just get one with lower mileage. A Civic/Accord/Camry should also do the trick.
The Camrys, Accords, Civics, and Corollas would be excellent options. The budget might be an issue though because I see 2009 Camrys still going for almost $10,000 in my area and the 2010-2013 Civics and Corollas still go for $7,500-$10,000. They get even more ridiculously expensive if they have low mileage
The fair purchase price (per KBB) for the 2010 Toyota Camry in my area is $6850.00. The 2010 Corrolla is $6035.00; the 2010 Hinda Civic is $5957.00. I would probably have to stick with 2010s or 09s to stay in my price range.
I would pay no more than 9 grand for a 2014 Camry, and I am in California. 2007 Camrys go for 7 grand.