You Financed a Honda for $60k to Drive Uber?

The Ramsey Show Highlights

Ramsey Network

Business, Investing, Education, Self-improvement

4.5 • 839 Ratings

🗓️ 13 October 2025

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Transcript

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0:00.0	Brought to you by the Every Dollar app.
0:04.3	Start budgeting for free today.
0:06.7	So I've been a full-time gig worker.
0:09.2	I've been driving for Uber and Lyft, and I financed two vehicles.
0:14.0	The first one I financed was a Honda CRV, and when I bought it, I bought it at the peak when prices were so inflated, you know,
0:23.5	dealerships were marked in our prices and there was low inventory and, you know, the car prices
0:28.0	were much higher.
0:28.9	So what did you pay?
0:29.4	So I bought it in 20.
0:31.1	I financed it for 60K.
0:34.4	This was in 2020, like the beginning of 2022. You financed a Honda for 60K to drive Uber.
0:43.5	It was, okay, so it was like 59 out the door. Well, I mean, you financed a Honda for 50 or
0:50.1	$60,000 to drive Uber. Correct. Correct. Because I got, so the thing is, I got advice from other drivers that, hey, you can really make good money.
0:59.0	You got financial advice from other Uber drivers.
1:02.7	Yeah.
1:03.4	You just said that out loud.
1:06.5	Yeah.
1:07.0	Wow.
1:07.6	Okay.
1:08.2	Okay.
1:08.5	So you got the $60,000 car.
1:10.7	What else? Yeah. And so it was just a regular SUV. And so I was making decent money at first. I was making about $2,700 a week easily. And then I started seeing my earnings go down because then Uber, you know, they got rid of this one program called Uber Green, which most
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