Buying A TESLA for UBER & LYFT 

I would hope the same is true for any car with only 50k miles. What's your favorite thing about your Tesla?

@@FutureRideshareMillionaire I bought it used at 54,000 miles now I'm at 108,00 miles. Thing is 2019 boosted with full self driving. What I love most about it is very cheap to maintain.

it's nothing toyota taxi have 400k on them

Start to save money for a new battery, yours last only 150k

@@johny3133totally inaccurate. Why do you think they last 150k miles? They last for over 1,000 charge cycles, which translates to 275,000 miles on average.

Maybe it's seasonal/cyclical, but I am now seeing a major supercharger station in my North Jersey area charging 15 cents per Kwh between 12AM and 4AM. Never saw that before.

Rear or all wheel drive?

@@noeljamesfx all wheel drive.

I appreciate you taking the time to share your experience!

I think the Prius is better BUT it uses the same technology. Even if we are not on the same page, we're in the same chapter!

I addressed this in the video. It's not a bad comparison because the point of this video is to convince drivers not to buy a brand new Tesla while also giving them a better alternative. I don't think rideshare drivers should buy any car brand new period so there's no point in comparing a brand new Prius to a brand new Tesla.

How much did you buy it for?

I test drove a 2018 camry xle hybrid it was 26k tax title out the door with 55k miles I'll find a prius v and wait for a camry to come down more

$31/month for unlimited charging? How is that possible? That would save me money in the long run compared to gas.

@@fromabovefrombelow1272 I lease the charger from the utility company (FPL) with the electricity included.

What does after incentives means? How much is the total loan and what is the interest rate on the loan and loan term?

I think my replies are going to your spam box. Incentive is the $7500 federal ev tax credit that expired in December for the cheapest Tesla. My downpayment was my old Corolla that I sold for $7000 + this $7500 that I up-fronted from my tax savings fund. Total amount financed was $28.900, interest rate 5.6. Term is 60 months but i really don’t care because like I said I’ve been paying fast.

Thanks for sharing. Proud of you for wanting to pay it off early!

Nope! Because I'm never going to recommend buying a new car for rideshare, period. If a driver asks me if they should get a brand new Tesla or a brand new Prius, I'm going to tell them neither! A used Prius is financially better than a new Tesla AND a new Prius.

I think hybrids are better for the hustle for sure but buying brand new hurts my soul. Try to pay it off ASAP!

@@FutureRideshareMillionaire that’s what I was working on! I’ve just had the car for 12 months and already paid it down to 8k. Taxes really fucked me this year so I’m considering selling it lol

It was unfair of me to use random times when trying to illustrate how battery technology works and I'll do my best to clarify it now based on research: Here's a breakdown of the estimated charging times to reach those different charge levels on a Tesla Model 3. Keep in mind these are estimates, and real-world charging can vary slightly. Assumptions: Battery Capacity: 75 kWh (common for Tesla Model 3) Supercharger: Typical V2 Supercharger (150 kW power) Ideal Conditions: We'll assume good temperatures and no limitations from charger sharing. Estimated Charging Times 0-50%: Approximately 30 minutes 50-80%: Approximately 24 minutes 80-100%: Approximately 24 minutes Important Notes: Charging speed slows drastically as you approach higher percentages for battery health reasons. It's often most efficient to charge just enough to reach your next destination rather than waiting for a full 100%.

Someday 😂 As far as Uber and Lyft goes, paying that much for a car that doesn't have 7 seats is a red flag.

What about tires?

Good question! Until I'm debt free, the most id want to spend is $10,000 comfortably put id push to $15,000 if I had to. I just don't want to over invest into a car while I'm broke and I believe if you have debt, then you're broke! Once I'm debt free and have a 3-6 month emergency fund, I think the most id spend on a used car is $25,000. Id only spend that much on a used black SUV though. Generally speaking, you car should never be worth more than 50 percent of your yearly income once you're out of debt.

More so if you're buying a car for mixed purposes, you should have even more reason to buy it used. The only time you should get a brand new car is if you have no debt, over a million in net worth and ensuing your car isn't worth more than half of your take home pay. Getting it before those things happen will make it more difficult for those things to happen. Simply avoid that by buying used. You can buy 4 used Priuses if they break down on you in the time it would take to pay off a new Tesla. But Priuses are known for going over 300,000 miles. First, I'm going to make videos based on the current state of markets. Rideshare might not be here next year, so why buy an expensive car? See? There's no way to prove that rideshare will be here next year or that gas will be 8 dollars a gallon so that's not a great point. According to Jalopnik, Tesla maintenance costs around $832 per year, which is higher than the average of $652 for all brands. Tesla maintenance is also more expensive than other electric vehicles (EVs). According to RepairPal.com, the average annual repair cost for a Toyota Prius is $408. CarEdge.com says that over the course of the Prius's first 10 years of service, maintenance and repairs will cost about $4,008, which is $2,756 less than the industry average for popular hatchback models. While it can vary city to city, most places can pick a car that's up to 15 years old. I rewatched my video and I can't see where I specifically said a 2 year old used Prius for $15,000. If I missed it, do you mind showing me? Here's a 2015 Prius for $13,700 with 87,000 miles and I barely started looking. I wanted to find more consistent sources but I'm out driving right now.

@@FutureRideshareMillionaire that $832 is just tires. That’s pretty much it. Yet the Prius also has tires. Brake pads (teslas seldom use their brakes and it’s not uncommon to go 80k miles in the original pads), oil changes every 3-5000 miles, transmission oil changes every 25,000 miles, etc. none of which the Tesla needs. And there are many teslas with more than 300k miles on them, and some with more than a million. Some recommend battery pack coolant changes at around 60k miles, but I seldom see anyone do that. Also, just because a Prius goes 300k miles doesn’t mean that it goes 300k without repairs. Yes, if a Tesla needs a repair it’s more expensive, but it’s less likely to need that repair, and it has a much better and longer warranty in the first place. Again, I’m not arguing that a Tesla is better. Or that you should even buy one. I’m saying your arguments are not valid. You talked repeatedly about $15k Prius. The one you mention is 9 years old. Those repair costs you mention are not rideshare vehicles. You’re putting way more miles on this cars, so you’re likely to spend that in 3 years. And as it gets worse even more. The fact is, ice vehicles have many more things that can go wrong, and they do. You’re also being disingenuous about buying 4 Priuses for the same price. That’s not true unless you’re spending less than 10k on the Prius, which will be a 15 year old car with 200k miles on it. That doesn’t include the lost time from having to deal with scrapping the old car, and buying a new one every year or two.

@@erikf790Don’t waste your energy trying to talk reason into guys like this. Anyone who says “you can’t prove rideshare will be here in a year” like he did clearly isn’t very smart. That’s like saying “you can’t prove Apple will be here in a year”.. you can’t prove anything will be around without a crystal ball, but if this guy lacks the common sense and logic to see a company worth $85 billion that’s a staple of public transport at this point will OBVIOUSLY be here for the long haul.. especially when they just became profitable last year, then he’s clearly not very bright

Don't stop caring :(

@@FutureRideshareMillionaireToo late but I will figure it out. Thanks anyway!

Why? I'm never going to use debt again. I already own a home and I'm paying off all of my debt and I'm NEVER using debt again.

I'm afraid I have to disagree with the notion that you can't compare a used vehicle against a new one. If someone asks me if they should get a new Prius or a new Tesla, I will tell them both are terrible options and that it's better to get a used Prius. The purpose of this specific video is to convince anyone thinking of buying a brand new Tesla not to do that and instead get a used Prius. In the video, I mentioned that I will be doing a used Prius vs used Tesla comparison soon. I'm going to be making a few videos related to car buying. This is just the start of a much larger conversation.

Can you clarify something for me? Are you saying that an EV obviously isn't for me and that I have no common sense even though....that's what I said? So are you telling me that you agree with someone who.....has no common sense? Edit: ohh I get it. It's because you formed an opinion without watching the video! Sheesh. Based on how you're attacking me, you either didn't watch the video at all or missed the part in the intro where I said I'm not really getting a Tesla and I wanted to show why it was a bad idea.

The comparison is coming!