Why You Make More Money With Ride-Sharing Apps Driving an Older Car

I once rode with a driver driving a brand new $60,000 Lexus complaining he wasn’t making any money because his car was depreciating so quickly. Really? I thought. That’s not higher math! 

  • Put 161 miles in an 8 hour shift. That makes depreciation and insurance a significant cost 
  • Figure out the cost of insurance and decreased resell value. 
  • Multiply the numbers out 
  • Determine the cost per mile. 

Assume 50,000 miles per year. 

We should do it for Ford Focus (new and 3 years old) and Hyundai new and 3 years old. 

  • Price to figure out how much age costs (same car same mileage (maybe 50k, getting older and older) 
  • Then price to figure out how much mileage costs (start with a 5 year old car, price to very high mileage) 

Worried your car is going to be in the shop for a week? Think again. Schedule your repair with KarSavior. You can likely get your car repaired at your house!  

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