With the rise of the gig economy, the workforce has changed a lot in recent years. One area, in particular, that has been altered concerns driving. From delivery services like Grubhub keeping restaurants afloat to companies like Uber replacing taxis, many drivers are counting on their cars for a few extra dollars or even their entire income. While the Hyundai leases available at Keyes Hyundai could be a good idea, there are some things to know before using one for gig work.
Reasons to Think About a Lease
Perhaps the main reason to lease a new Hyundai car for gig work is that it’s generally cheaper than buying. If your credit is good, but your bank balance isn’t the best, it’s an excellent way to keep monthly payments low. There’s also a greater degree of flexibility when it comes to having newer cars more often.
Things to Consider with a Lease
However, you don’t want to enter a lease without knowing the restrictions.
- Some leases forbid using the vehicle as a taxi or include other restrictions that can crimp gig work.
- There are also mileage penalties that are easy to exceed when ferrying people or goods outside your usual daily driving.
- You will also be charged for any wear and tear that isn’t considered normal.
Another thing you’ll want to think about is insurance. While this isn’t directly connected to leasing, you still have to be sure that you have the right policy. Personal car insurance alone won’t provide you with enough coverage, and if you were to get into an accident, you could face catastrophic expenses.
If you’re unsure of your lease options, or the restrictions on your current lease, we encourage you to contact your Hyundai dealer serving Los Angeles. We’ll help you make sense of your lease and help you come to an informed decision.
