KBB.com Recommends 10 Best Cars For Uber Drivers
Kelley Blue Book Offers Vehicle Shopping Advice, 5-Year Cost to Own Information for UberX, Lyft Drivers
IRVINE, Calif., Dec. 10, 2015 /PRNewswire/ -- The experts from Kelley Blue Book www.kbb.com, the only vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry, have assembled their list of the 10 Best UberX Candidates, along with helpful advice ride service drivers should consider when choosing their vehicle, including 5-Year Cost to Own information, recommendations on buying new versus used, and more.
"If you're looking at driving for one of the car services like Uber or Lyft, there are certain requirements you have to meet, including having a newer car in good condition, and this list helps rideshare drivers identify good vehicles for that use," said Jack R. Nerad, executive editorial director and executive market analyst for Kelley Blue Book's KBB.com. "To participate with a ridesharing service you might use your current car, rent a car from Enterprise or subscribe to an alternative car service like Flexdrive, which includes the vehicle, insurance, all maintenance and roadside assistance in a single payment1. However, once you've decided Uber or Lyft are for you, you might discover nothing beats starting out with your own new car. As you might guess, we consulted Kelley Blue Book's 5-Year Cost to Own information for new cars to provide vehicle recommendations for rideshare service drivers."
KBB.com's 10 Best UberX Candidates
If you are looking at driving for the basic UberX service, your best bet is a compact four-door sedan. Below are the top 10 recommendations from the expert editors of Kelley Blue Book's KBB.com:
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Rank |
Vehicle |
KBB.com Editors' Notes on Vehicle's 5-Year Cost to Own Information, Current Incentives, More |
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1 |
2015 Honda Civic |
2015 Civic has a KBB.com 5-Year Cost to Own of $30,863, which works out to $6,172 annually, or about $118 per week. Currently 2015 models are being offered with subsidized finance rates as dealers clear out stocks in anticipation of the all-new 2016 model.
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2 |
2015 Toyota Corolla |
2015 Corolla has a KBB.com 5-Year Cost to Own of $31,174. It is being offered with a $1,000 rebate. Doing the math, annual costs will average $6,234, or nearly $120 per week. Corolla is unchanged for 2016.
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3 |
2015 Hyundai Elantra |
2015 Elantra has a KBB.com 5-Year Cost to Own of $33,825. It will be replaced by an all-new model for 2016, so it is eligible for some hefty discounts which can run as high at $3,250 through January 5, 2016.
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4 |
2015 Dodge Dart |
2015 Dart has a KBB.com 5-Year Cost to Own of $34,004, which works out to $6,800 annually. Dodge currently is offering hefty rebates of $3,000 on the SXT trim level.
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5 |
2015 Kia Forte |
2015 Forte has a KBB.com 5-Year Cost to Own of 34,011, marginally more than the more heavily incentivized Dart. Perhaps not as generous as its Hyundai sibling, Kia is offering $1,000 rebate for the 2015 Forte under a special Uber driver program.
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6 |
2015 Chevrolet Cruze |
2015 Cruze has a KBB.com 5-Year Cost to Own of $34,238, which works out to about $131 per week. A new 2016 model is on the way, so Chevy is looking to clear out the old model with a $1,000 rebate.
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7 |
2015 Toyota Prius |
2015 Prius has a KBB.com 5-Year Cost to Own of $35,030, just over $7,000 per year. Another way to minimize your expenses is to drive a high-fuel-economy vehicle like the 2015 Toyota Prius, with its 51 mpg city EPA rating. Not coincidentally, it is the mainstay of many taxi fleets. The all-new 2016 model is just hitting showrooms, so Toyota has a $1,000 rebate on financed purchases.
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8 |
2015 Nissan Altima |
2015 Altima has a KBB.com 5-Year Cost to Own of $36,481, which works out to $140 per week. In anticipation of the refreshed 2016 model, Nissan is clearing out the current car with $2,500 cash plus other savings on option packages.
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9 |
2015 Kia Optima |
2015 Optima has a KBB.com 5-Year Cost to Own of $38,170. While the $1,000 Uber driver incentive is available on the Optima, it can't be combined with the larger available offer of $2,500 in rebates. The 2015 Optima is being replaced by a facelifted 2016 model.
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10 |
2016 Toyota Camry |
2016 Camry has a KBB.com 5-Year Cost to Own of $38,426. While there are no current incentives on the 2015 Camry, Toyota is advertising a $500 rebate on 2016 models.
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KBB.com Editors' Advice to Consider When Uber, Lyft Drivers Choosing Vehicle
New vs. Used: There's no shortage of late-model used cars sitting on dealers' lots as Certified Pre-Owned units, and lower mileage models are certainly great candidates for Uber or Lyft service. But there are benefits to a new car besides virtually no miles on the clock, such as a longer warranty, plus a new vehicle will make it easier to pass the Uber vehicle-inspection requirement. But the trick to making a new car work is not to overspend in the first place, so while there are plenty of 2016 models to choose from, the smart money is on finding a new 2015 model at a dealership. Many of these vehicles have hefty incentives on them - usually more than those available on current models.
Buy vs. Lease: While seeking a 2015 model, you should also resist the temptation to take advantage of the attractive lease deals available these days. While the monthly payments will be lower with a lease, successful drivers may soon find themselves exceeding the deal's mileage cap. You're better off owning the car outright for a higher monthly payment rather than face a big bill for excess mileage when it comes time to turn the car in.
5-Year Cost to Own: Another factor to consider is cost of ownership, which not only includes the purchase price and depreciation, but also fuel costs, insurance and maintenance. Kelley Blue Book compiles 5-Year Cost to Own data that takes into account all these factors to come up with an average total cost of ownership over a five-year period. While not Uber-specific, this can be an important factor in your new-car buying decision, because while you may be able to negotiate a good deal on the purchase price, another model with a smaller discount may actually be cheaper to own and operate.
To see KBB.com's full story about recommended vehicles and advice for Uber and Lyft drivers, please visit http://www.kbb.com/car-news/all-the-latest/so-you-want-to-drive-for-uber-heres-what-to-buy/2000012746/.
To discuss this topic or any other automotive-related information with a Kelley Blue Book analyst on-camera via the company's on-site studio, please contact a member of the Public Relations team to book an interview.
For more information and news from Kelley Blue Book's KBB.com, visit www.kbb.com/media/, follow us on Twitter at www.twitter.com/kelleybluebook (or @kelleybluebook), like our page on Facebook at www.facebook.com/kbb, and get updates on Google+ at https://plus.google.com/+kbb.
1 The Enterprise program offered to Uber drivers is currently available in Denver. Flexdrive is currently available in Atlanta, Dallas, Nashville and Austin.
About Kelley Blue Book (www.kbb.com)
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the only vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry. Each week the company provides the most market-reflective values in the industry on its top-rated website KBB.com, including its famous Blue Book® Trade-In Values and Fair Purchase Price, which reports what others are paying for new and used cars this week. The company also provides vehicle pricing and values through various products and services available to car dealers, auto manufacturers, finance and insurance companies, and governmental agencies. Kelley Blue Book's KBB.com ranked highest in its category for brand equity by the 2015 Harris Poll EquiTrend® study and has been named Online Auto Shopping Brand of the Year for four consecutive years. Kelley Blue Book Co., Inc. is a Cox Automotive company.
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