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Can I Get A Car Loan To Be An Uber Driver In Burford?

Can I Get A Car Loan To Be An Uber Driver In Burford?

Whether you need extra income or feel like a change of career, ride share apps like Uber and Lyft have changed city life forever. We get around differently. We work differently and we approach gig working differently. But can you get a car loan to be an Uber driver in Burford?

Car Loan To Be An Uber Driver


You can use an auto loan to buy a car to use for Uber. As long as you insure it for work use, you can do whatever you like with the car you buy.


We would counsel caution if you’re planning to buy a car solely for ride sharing though.


We won’t name names but some companies who rely on gig workers don’t have a very good track record for treating workers fairly. While they are marketed as offering unrivalled freedom to work when and how you like, the reality is often different.


You are not guaranteed a minimum income, an algorithm decides whether you get work or not, you don’t have any employee rights and you could find the flow of work stops for no obvious reason.


Auto loan options


You have two main financing options if you want to buy a new car to use with Uber. You can use Uber finance or you could secure your own auto loan.


Uber has its own financing opportunities for drivers wanting to join the app. You will have to decide if it makes financial sense but we would suggest it doesn’t make sense in other ways.


Why tie yourself to a single company? Why rely on one company for both your finance and your wages? We would think it much safer to keep the two separate.

Plus, what happens if you wanted to stop driving for Uber?


Therefore, we would suggest that using a standard Burford auto loan makes more sense.


You’re financially independent, you can use other lift share apps if you like and you can keep income and outgoings separate.


Car options for ride sharing


Uber has different car classifications such as Comfort, Green, Exec, XL and others. Each will have its own slice of your local market. Some cars will be able to fit more than one classification while others will not.


You’re going to have to research what rides are in demand in your area and what car(s) can satisfy as many of those as possible. You’ll also need to check the competition for those ride types within your proposed working hours and region.


That’s a lot of preparation to do but as your future income and financial wellbeing will depend on it, we recommend doing as much research as possible before you commit to buy.


Once you’re ready to go, shortlist reliable cars that suit the rides in demand, set a budget, save the down payment and visit us for a great deal on a Burford auto loan.


We’ll find you an auto loan and can secure a great price on a car too!


Contact Unique Chrysler for help, advice and competitive car finance.


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