# Driving for Uber is like a cash advance loan



## Lee239 (Mar 24, 2017)

Unless you are in a hot market with surges and picking up people right after you drop them off you are basically lending Uber the wear and tear and gas and your car operating expenses against a weekly paycheck. You will realize a the end of the year when you make your deductions and don't owe any tax. And I don't mean like a real job where you pay taxes and get it back in a refund.


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## Andrewfh (Oct 5, 2016)

Totally agree.


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## Bean (Sep 24, 2016)

Yes and hollywood movies don't make any profit either.

My car payment is $175/mo which is $2,100/year. That car makes me roughly $18,000/year.
Once it's paid off I could buy another one and do it all over again (not likely I'll even still be doing Uber), or drive this one into the ground, whatever I'm coming out ahead, my bills are getting paid and I get a massive deduction at the end of the year.

I've got another business on the side too. You think it makes a profit? Hell no it doesn't! Do you think I'd keep running it for years if I had nothing to gain?

..now if you bought your car thinking it was a long term investment that you're going to cherish forever and always, yeah you done messed up!


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## SOLA-RAH (Dec 31, 2014)

I'd consider it a cash advance that's earned instead of borrowed.  I'd imagine there's quite a few drivers with full-time jobs and a family that stay active in the uber system knowing that they can hustle a couple hundred dollars over a weekend to pay an urgent bill or unexpected emergency if absolutely necessary, as opposed to charging it on a credit card. A strong anti-debt culture is slowly growing in the U.S. These folks are not out on the streets grinding 20+ hours/week.

Gotta remember that almost two-thirds of Americans can't instantly come up with $1,000 cash: http://bigstory.ap.org/article/965e48ed609245539ed315f83e01b6a2


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## steveK2016 (Jul 31, 2016)

Isnt work in general a cash advance of our time and energy?

We exchange our resources for cash. Whether thats our skill, our time, our body, our cars, our tools....

Our bodies are getting older, our minds are getting less sharp, our time on this earth is ticking away, all expenses we cannot get back. All in exchange for monetary compensation.


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## Lee239 (Mar 24, 2017)

steveK2016 said:


> Isnt work in general a cash advance of our time and energy?
> 
> We exchange our resources for cash. Whether thats our skill, our time, our body, our cars, our tools....
> 
> Our bodies are getting older, our minds are getting less sharp, our time on this earth is ticking away, all expenses we cannot get back. All in exchange for monetary compensation.


But most jobs you make a profit, most Uber drivers don't. and if you would factor the time spent they would be losing more than they are.

and your argument is silly, it's like saying everyone is a prostitute or a pimp, billionaires are the pimps and workers are the hookers who go to places and do things they don't want to do for money.


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## steveK2016 (Jul 31, 2016)

Lee239 said:


> But most jobs you make a profit, most Uber drivers don't. and if you would factor the time spent they would be losing more than they are.
> 
> and your argument is silly, it's like saying everyone is a prostitute or a pimp, billionaires are the pimps and workers are the hookers who go to places and do things they don't want to do for money.


Is that so far fetched? Some people make $300 an hour and are miserable, some make $10 an hour and love their life.

Billionaires or pimps? Workers or prostitutes? Work or play? Life or death? Happy or sad? Rich or poor?


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## leosc (Sep 27, 2014)

*Driving for UBER is like taking a loan out on your car.* _Except with the added benefits like_: risk of an accident, getting sued, the risk of being dropped by your insurance company, your car breaking down, traffic tickets, being assaulted, and living in poverty.

You'll make between $3 and 15 per hour (at best) depending on where you live, and what hours you drive. If you're willing to accept all that, it's up to you.


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## Delilah5 (Mar 20, 2017)

A girl driving in NJ told me she only made $5 per hour because it was not busy there.


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## Lee239 (Mar 24, 2017)

Delilah5 said:


> A girl driving in NJ told me she only made $5 per hour because it was not busy there.


How about zero dollars an hour cause it's not busy in some places. Can't wait for my first ride so I can make $1,50 to offset the gas I already spent driving around and the car was that will take a week to pay off driving for Uber.


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## Lee239 (Mar 24, 2017)

steveK2016 said:


> Our bodies are getting older, our minds are getting less sharp, our time on this earth is ticking away, all expenses we cannot get back. All in exchange for monetary compensation.


yes but with Uber you are losing money because of the cost and expense of your gas and your own cost. When you use your body and mind in other jobs you get $8 minimum wage. When you work for Uber many times you have zero profit.


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## steveK2016 (Jul 31, 2016)

Lee239 said:


> yes but with Uber you are losing money because of the cost and expense of your gas and your own cost. When you use your body and mind in other jobs you get $8 minimum wage. When you work for Uber many times you have zero profit.


But you lose hours, days, weeks, months, years of your life....

It's all relative. Some people succeed, some people fail. Welcome to life!


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## entrep1776 (Nov 3, 2016)

Lee239 said:


> Unless you are in a hot market with surges and picking up people right after you drop them off you are basically lending Uber the wear and tear and gas and your car operating expenses against a weekly paycheck. You will realize a the end of the year when you make your deductions and don't owe any tax. And I don't mean like a real job where you pay taxes and get it back in a refund.


I netted $9.69 which would have been the equivalent of $11.56 at a "real" job.

Noy saying pay is great but, Not many jobs you work WHENEVER.

Uber is pure additional cash. All my bills are paid through other means.

https://uberpeople.net/threads/my-2016-taxes-summary-probably-helpful-to-new-drivers.152712/


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## Lee239 (Mar 24, 2017)

steveK2016 said:


> But you lose hours, days, weeks, months, years of your life....
> 
> It's all relative. Some people succeed, some people fail. Welcome to life!


My point is for Uber you trade off the flexibility, except you have to be out there at peak hours in most non major metro cities, and the car expenses and depreciation to get some money to pay bills, plus wear and tear on your body, where a real job pays a real salary, Uber is like a cash advance scheme.



entrep1776 said:


> I netted $9.69 which would have been the equivalent of $11.56 at a "real" job.
> 
> Noy saying pay is great but, Not many jobs you work WHENEVER.
> 
> ...


You netted $9,69 cents in a year that sounds about right. Deduct 55 cents for every mile you drove to and from the ride and to get home or to the next ride and then tell me how much you made.


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## entrep1776 (Nov 3, 2016)

leosc said:


> _Except with the added benefits like_: risk of an accident, getting sued, the risk of being dropped by your insurance company, your car breaking down, traffic tickets, being assaulted.


Driving WHENEVER. but do have risks above for $9.69/hour. Lots of risks for not much money.



Lee239 said:


> My point is for Uber you trade off the flexibility, except you have to be out there at peak hours in most non major metro cities, and the car expenses and depreciation to get some money to pay bills, plus wear and tear on your body, where a real job pays a real salary, Uber is like a cash advance scheme.
> 
> You netted $9,69 cents in a year that sounds about right. Deduct 55 cents for every mile you drove to and from the ride and to get home or to the next ride and then tell me how much you made.


$9.69/hour. $11.59/hour.

Read post if you want some actual math as opposed to drivers talking about FEELINGS.

https://uberpeople.net/threads/my-2016-taxes-summary-probably-helpful-to-new-drivers.152712/


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## Lee239 (Mar 24, 2017)

entrep1776 said:


> Driving WHENEVER. but do have risks above for $9.69/hour. Lots of risks for not much money.
> 
> $9.69/hour. $11.59/hour.
> 
> ...


You can make $15 an hour if you drive someone 60 miles away, more than $15 in fact. Otherwise you have to chase surges or live in a hot market to make that much. And again your number are gross, very gross and not net. You also most likely do not earn that every hour.


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## entrep1776 (Nov 3, 2016)

Lee239 said:


> You can make $15 an hour if you drive someone 60 miles away, more than $15 in fact. Otherwise you have to chase surges or live in a hot market to make that much. And again your number are gross, very gross and not net. You also most likely do not earn that every hour.


NO NO NO.

They are NET NET NET.

Did you read the link provided??? or just talking about your feelings.


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## autofill (Apr 1, 2016)

Lee239 said:


> Unless you are in a hot market with surges and picking up people right after you drop them off you are basically lending Uber the wear and tear and gas and your car operating expenses against a weekly paycheck. You will realize a the end of the year when you make your deductions and don't owe any tax. And I don't mean like a real job where you pay taxes and get it back in a refund.


It's actually worst than a cash advance loan. On a cash advance loan, you know upfront and agree to pay back like 300% interest. So if you advanced $100, you'll have to pay back like $110 next week.

With Uber, you don't know upfront how much you'll be making when you invest your car, time, and money. The risk of losing is far greater than the amount you lose at a cash advance loan place.


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## Trafficat (Dec 19, 2016)

Lee239 said:


> My point is for Uber you trade off the flexibility, except you have to be out there at peak hours in most non major metro cities, and the car expenses and depreciation to get some money to pay bills, plus wear and tear on your body, where a real job pays a real salary, Uber is like a cash advance scheme.
> 
> You netted $9,69 cents in a year that sounds about right. Deduct 55 cents for every mile you drove to and from the ride and to get home or to the next ride and then tell me how much you made.


If you drive a cheapo-car that gets good gas mileage, it won't cost you 55 cents per mile, even though you can deduct that much from the income you report to the IRS.


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## Lee239 (Mar 24, 2017)

autofill said:


> It's actually worst than a cash advance loan. On a cash advance loan, you know upfront and agree to pay back like 300% interest. So if you advanced $100, you'll have to pay back like $110 next week.
> 
> With Uber, you don't know upfront how much you'll be making when you invest your car, time, and money. The risk of losing is far greater than the amount you lose at a cash advance loan place.


Exactly and if you end up losing your personal insurance and it shoots up because of driving for Fuber it's gonna cost you a lot more than the fuber cash advance.


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## entrep1776 (Nov 3, 2016)

Trafficat said:


> If you drive a cheapo-car that gets good gas mileage, it won't cost you 55 cents per mile, even though you can deduct that much from the income you report to the IRS.


RIGHT! my car is 2005 Prius. If you're driving 2017 Lexus, might be lucky to break even.

Some drivers expect/whine to make money driving cars they shouldn't be for Uber.


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## 7Miles (Dec 17, 2014)

I don't know if you remember but about 3 years ago Uber was arguing with some reporter or a magazine telling that Uber drivers DO make 90K a year if they want to.
Even when I started in November 2014 I made $300 on a Saturday night.
But back then "booking fee" was called base fare and went to driver, now it goes solely to Uber/Lyft.

*Do UberX Drivers Really Take Home $90K A Year On Average? Not Exactly*
Dan Kedmey
May 27, 2014
Cellphone ride-hailing app Uber made headlines today with a study that suggests the median business income of its full-time uberX drivers-the company's low-cost mobile service-was $90,766 a year in New York and $74,191 in San Francisco - and that's after deducting Uber's 20 percent commission fee.

http://time.com/119587/do-uberx-drivers-really-take-home-90k-a-year-on-average-not-exactly/


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