Living in LA and disappointed at the continued increase in pricing. I’ve given up any hope leasing a car this year and will just Uber everywhere I need to go. I already worked out the math and it’s cheaper by a long shot.
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Miami Uber prices are doubled compared to last year. How is it in LA?
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They’re definitely more expensive than pre-Covid prices but not double. I’d say 25 - 45% higher, depending on where you’re going and what time of day. But that’s not saying much because prices pre-Covid were very very low.
Good for you doing the math, making the call, and waiting this out. Thanks for sharing too. I suspect a lot of shoppers will make the same decision by July 4th.
I’m also long Uber, so get that status!
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Are y’all actually able to get confirmed Ubers/Lyfts in a reasonable time period? Perhaps this is just anecdotal but I’ve struggled in Boston, Philadelphia, DC, and Little Rock since March.
We’re talking 10-15 min waits at best, and 20-40 mins with a few cancellations sprinkled in on average.
I presumed there were less cars on the road due to everything, but the commensurate availability and pricing squeeze were a bit unexpected.
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No worries as something is going to give real soon. The market in used and new cars is completely ludacris, it CANNOT continue on its current trajectory. Aside from that the rest of the market in every industry is the same way. It just cannot keep going the way it has, something is going to give and the entire market will fall like dominoes one after the next. Even uber prices.
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I can only speak for LA, but my wait times are only 5-10 minutes.
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The used car market is especially bonked. Right now you can flip some new cars (with incentives) to Shift/Carvana/Vroom for a profit…
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Are you not leaving the house often? I don’t see how that’s possible in LA…
btw if you’re cool with basically any car (uberx) then you can get into a 2021 Leaf or Bolt for super cheap ($200/month) while you wait out the storm
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Varies city to city. Not to bad in NYC, you will eventually get a ride.
Thing is, I was out in Vegas earlier in March. Uber/Lyft situation is BAD out there. I waited at McCarran airport for 50 minutes or so as both apps kept saying awaiting a ride or something like that. Also the rideshare pickup point was extremely over crowded.
I ended up caving in and getting a taxi instead. IMO uber/lyft never really made financial sense from the driver’s point of view. I think with the recent spikes and what not, they will be more financially sensible from a driver’s point of view, but less so from a rider’s point of view…but what choice do we have? These days I’m just happy if the ride gets accepted.
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Car rental prices are at all time highs too, no winning
I go to the office and back M-F, which is 5 miles round trip. Groceries are delivered via Amazon Fresh or InstaCart. If I need anything else, it comes via Amazon. On weekends, I head to the beach, which is 5 miles the other direction, or hang out with my cousins, who typically come to my house. I’m single with no kids so that’s probably a large reason why the math works out for my specific situation.
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being single, the math always works out in favor! ha
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Here is how I look at it and it’s probably different for everyone.
Ubers in nyc and Bay Area cost me 15-20 pre pandemic (let’s say 17 on average). I assume now the cost is around 25 for the same rides or 50 round trip. Assuming you leave your house every day (most of America is not in nyc, downtown Chicago or SF) then that is 30*50 or 1500 a month to get a ride in a Prius. Assume you spend 200 on gas and insuring that Prius and then the question is can you get a Prius lease for under 1300. This doesn’t account for the value of never having to wait for a ride, not breathing in whatever the driver is breathing out, the amount of crap I ferry back and forth from Costco, the drivers that wouldn’t give my dog a ride, and other things I would personally value. If I took shorter rides or drive only once a week it would be different I suppose.
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Almost always pencil out at $30x50 ($900+)
Where it’s squishy is when it’s $15 x 40 ($600) and you need to add:
Insurance ($100-$300/month)
Fuel/maintenance ($50-$100)
Parking at work ($0-$300)
Parking at home ($0-$300)
Parking in random places
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An Uber is usually a Prius. The insurance and fuel are a lot lower than that. Parking could be a factor sure, but I think most people don’t have that issue. OP only goes 5 miles so that’s a different lifestyle than most people.
Can you uber in CA and still be cheaper than Corolla payment?
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If it just the payment, then probably not.
But insurance is high as is gas. Factor in parking and tickets, traffic infractions and accidents have to be considered, even if you’ve never had one. If you drink, a dui is very possible. Plus car washes and maintenance and tires.
You’re monthly cost is probably triple the $200 payment.
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I don’t know why, but car insurance on Toyotas, other than the Venza, in the LA market is almost double any other car brand. At least for me it is.
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