7 benefits of renting a car if you’re an Uber driver
If you’d like to get started as an Uber driver, not having a car (or the right car) can certainly be an obstacle. Not everyone can afford to go out and buy a car, especially when you’re low on cash in the first place.
Cars are an expensive long-term commitment. It might be more cost-effective to rent a car for your Uber business instead of purchasing one outright or on finance. Here are some advantages of Uber car rent versus buying one as an Uber driver.
No long-term commitment
If you’re just getting into ridesharing, you may want to dip your toe in to make sure it’s the right job for you. Renting a car is a low-risk way to determine if being an Uber driver is your calling, without shelling out thousands for a new car. If you determine it’s not your thing, you can always just take the car back with little financial risk. If you enjoy it, you can always choose a rent to own option, if that’s the route you want to go. Buying a new car is years’ of payments on top of the other costs associated with a car, and some people would rather pay the Uber car rental fee and have the difficult stuff taken care of.
Many rental agencies offer roadside assistance at no extra charge. If a problem arises and you get stuck on the road, you simply call the number and someone will come to help you out. The peace of mind you have from the accessibility of roadside assistance can take out some of the stress of running your rideshare business.
Renting a car instead takes away many of the costs and hassles of owning your own vehicle. The company will be responsible for repairs and maintenance, freeing up your money for other things.
Car insurance is usually included in the rental fee. Plus, if you find ridesharing isn’t the business for you or you want a different car, you can just give it back. You’re not tied down to this one car for the next five years. You also won’t have to worry about registering the car or paying for depreciation.
Cars used for ridesharing typically have higher insurance costs because of the increased risk, but you won’t need to worry about a hike in your insurance if you’re using an Uber car rent vehicle, because insurance is included in the rental fee. You also won’t have to worry about adding wear-and-tear over time to your own vehicle. It’s someone else’s vehicle, and they expect it since they know exactly what you’re doing.
It pays for itself
Most companies typically charge a fee that comes directly out of your Uber earnings, so you’ll need to get enough work to cover the cost of the fee. If you’re giving enough rides weekly, the car pays for itself, unlike buying a new car that you’ll need to make monthly payments on for years. Your rented Uber car will likely have unlimited mileage for personal and work use too.
It’s a great option for people with no credit (or bad credit)
If you don’t have any credit history if you have a bad credit history, some car sellers may not want to work with you because they’ll see you as a bad investment. It can be difficult to buy a new car when you have no or bad credit. Uber car rent takes that difficulty away, because you simply pay the weekly fee directly out of your Uber earnings and your credit history.
There are a range of options
There are many options for renting a car to use with Uber. Many companies are coming out with their own car rental options, plus Uber has its own. It will be easy to pick a plan that will work for you. If one company doesn’t have the car you want, you can always shop around and see if one of the others does. Keep in mind these companies operate on a first come-first serve basis!
Uber makes it easy
When you’re signing up as a driver with Uber, after you pass the background check, you can specify that you’re looking for a vehicle to rent. Uber makes the process extremely easy and are very willing to work with drivers who are looking for rentals.
If you’re looking to drive for Uber but you’re not sure if it’s the job for you, or you lack a vehicle of your own and aren’t ready to buy one, renting a vehicle may be the right choice. Uber car renting over buying when you’re just starting out has many advantages, including fewer costs and much less commitment.
You can save money to buy your own car, or you have the freedom to give it back if you decide being a rideshare driver isn’t for you. If you are considering being an Uber driver, look into your rental options to save money and hassle.