# So you think you’re making money?



## UberchickATL (Apr 27, 2018)

People don’t look at the big picture as to how much ride share actually COSTS us as drivers. If you plan on driving full time, or close to full time, plan on about 50,000 miles per year. After 4 years, what’s your $20,000 car with 200,000 miles on it worth (if your car even lasts that long)? Plus factor in all the repairs and maintenance during that time.

Oh and what lender will offer you a car loan when your main source of income is rideshare? Only predictor lenders so plan on paying a crazy amount of money for your next car.

Don’t even get me started on the weight gain and associated health costs with sitting for hour after hour, day after day.

We pay a lot of money for the privilege of driving around a bunch of entitled, rude, cheapskate people.


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## BigRedDriver (Nov 28, 2018)

UberchickATL said:


> People don't look at the big picture as to how much ride share actually COSTS us as drivers. If you plan on driving full time, or close to full time, plan on about 50,000 miles per year. After 4 years, what's your $20,000 car with 200,000 miles on it worth (if your car even lasts that long)? Plus factor in all the repairs and maintenance during that time.
> 
> Oh and what lender will offer you a car loan when your main source of income is rideshare? Only predictor lenders so plan on paying a crazy amount of money for your next car.
> 
> ...


First mistake. $20K car.


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## Invisible (Jun 15, 2018)

UberchickATL said:


> After 4 years, what's your $20,000 car with 200,000 miles on it worth (if your car even lasts that long)? Plus factor in all the repairs and maintenance during that time.
> 
> Oh and what lender will offer you a car loan when your main source of income is rideshare? Only predictor lenders so plan on paying a crazy amount of money for your next car.


I didn't buy a $20,000 car, but I was able to get a loan, not at high interest. The finance company knew I did Uber and other apps f/t. I'm not with a predatory lender. If your credit is high, you can get an auto loan. Maybe not an exorbitant one, but I'd never do that.


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## UberchickATL (Apr 27, 2018)

BigRedDriver said:


> First mistake. $20K car.


OK. Buy a car for $5,000. Don't forget to add interest if you get a loan. It will probably already have 100,000 miles on it. What's your car worth in 2 years with 200,000 miles on it? Again, if it even lasts that long. Plus all the repair costs?

No matter how much you buy a car for, you are paying a portion of your own wages from the depreciation of your car.


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## OldBay (Apr 1, 2019)

UberchickATL said:


> People don't look at the big picture as to how much ride share actually COSTS us as drivers. If you plan on driving full time, or close to full time, plan on about 50,000 miles per year. After 4 years, what's your $20,000 car with 200,000 miles on it worth (if your car even lasts that long)? Plus factor in all the repairs and maintenance during that time.
> 
> Oh and what lender will offer you a car loan when your main source of income is rideshare? Only predictor lenders so plan on paying a crazy amount of money for your next car.
> 
> ...


The key to making money on rideshare is being able to do the work yourself.

A 10K car, 2K in repairs, 150K miles. Make a dollar per mile.

At a dollar a mile, cost of car and repairs is < 10%.

Even if you cant do the repairs, cost of car and repairs < 20%.

Rideshare is worth it if you can pull 22-25/hr in app and keep your total expenses at or below 20%.


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## BigRedDriver (Nov 28, 2018)

UberchickATL said:


> OK. Buy a car for $5,000. Don't forget to add interest if you get a loan. It will probably already have 100,000 miles on it. What's your car worth in 2 years with 200,000 miles on it? Again, if it even lasts that long. Plus all the repair costs?
> 
> No matter how much you buy a car for, you are paying a portion of your own wages from the depreciation of your car.


I pay cash. I find the cheapest, well maintained car, 13 years old or newer. This one I paid 2K for. Next one? Likely a bit more. I've put 35,000 on it and could get 2.5K for it today.

I do my own work on it.

Not being argumentative. Unless you have these abilities, no one should expect overall profitability.

Period.


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## oldfart (Dec 22, 2017)

I put my car into rideshare when it was 7 years old with 70000 miles 18 months ago. I estimated it’s value then to be $18000

I expect to drive it another 18 months at which time it will have 300000 miles and be ready for the junk yard

So that’s a $6000 a year expense item for the car. I’m burning gas at the rate of $10000 a year and I budget $3500 a year for maintenance and repair. Add insurance and other misc expenses and I’m spending $25000 a year. I expect to gross $5000 a month so net income will be about $35000 a year but I don’t worry about the car expense because I have money set aside for a new one (used) when the time comes and I haven’t spent everything I’ve budgeted for maintenance. So my rideshare cash flow is closer to $42000

Don’t misunderstand me. I’m not saying that’s good, by any means, but added to my social security and retirement I’m able to pay the bills


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## Ssgcraig (Jul 8, 2015)

UberchickATL said:


> People don't look at the big picture as to how much ride share actually COSTS us as drivers. If you plan on driving full time, or close to full time, plan on about 50,000 miles per year. After 4 years, what's your $20,000 car with 200,000 miles on it worth (if your car even lasts that long)? Plus factor in all the repairs and maintenance during that time.
> 
> Oh and what lender will offer you a car loan when your main source of income is rideshare? Only predictor lenders so plan on paying a crazy amount of money for your next car.
> 
> ...


Remember that you claim depreciation on your car and $.58 a mile, 4 years of tax benefits should be saved.


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## brentb31 (May 23, 2018)

BigRedDriver said:


> I pay cash. I find the cheapest, well maintained car, 13 years old or newer. This one I paid 2K for. Next one? Likely a bit more. I've put 35,000 on it and could get 2.5K for it today.
> 
> I do my own work on it.
> 
> ...


This right here. Go find you a buddy with a buyer pass to auto auction for dealers. I picked up my car 2014 Ford Focus with 87K miles on it for a little under 4K. Paid cash and do my own maintenance.

I gross approximately $20-22/hr driving X. I put aside 15% of weekly pay to maintenance budget. Granted I only do part time weekend and big events, but I cleared about 9K last year driving weekends only and about 19K in miles.

You are your own business, run it like one.


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## LucklessRoadrunner (Jun 6, 2019)

OK. Buy a car for $5,000. Don't forget to add interest if you get a loan. It will probably already have 100,000 miles on it. What's your car worth in 2 years with 200,000 miles on it? Again, if it even lasts that long. Plus all the repair costs?
No matter how much you buy a car for, you are paying a portion of your own wages from the depreciation of your car.
@UberchickATL when someone buys a car outright they are not concerned with car depreciation. When I buy a car for $5k I'm grinning like a Cheshire Cat that it lasts 100k miles and then I'll just go buy another. As plenty others have stated I also subscribe to the thought process of new/newer car and rideshare does not belong in the same sentence. At least not if you intend to do basic rideshare services (i.e. UberX/XL).


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## amazinghl (Oct 31, 2018)

My 2000 Honda Insight with 146k mile cost me $1500 to buy. I did the maintenance on it and use it for food delivery. Depreciation doesn't matter to me as I intend to repair and fix whatever mechanical.

I *know* I am making money as I have a spreadsheet tracking my car expense and money I get paid.


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## nouberipo (Jul 24, 2018)

Ssgcraig said:


> Remember that you claim depreciation on your car and $.58 a mile, 4 years of tax benefits should be saved.


.58 includes the depreciation so no you cannot claim depreciation separately if you are using the .58 write-off


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## oldfart (Dec 22, 2017)

UberchickATL said:


> OK. Buy a car for $5,000. Don't forget to add interest if you get a loan. It will probably already have 100,000 miles on it. What's your car worth in 2 years with 200,000 miles on it? Again, if it even lasts that long. Plus all the repair costs?
> 
> No matter how much you buy a car for, you are paying a portion of your own wages from the depreciation of your car.


That's exactly right We use cars in our business. This isn't news. That you think it is; is insulting


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## Illini (Mar 14, 2019)

I agree that some people do not consider the cost of the vehicle to determine if this is gig is profitable, but if you can find the right inexpensive vehicle, it should be easy to turn a profit driving 50K miles per year. As far as health related costs, I work out several times per week and have been doing so for many years. I got more exercise now getting into and out of my car than I did when I was sitting at a desk all day.


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## losiglow (Dec 4, 2018)

OldBay said:


> The key to making money on rideshare is being able to do the work yourself.
> 
> A 10K car, 2K in repairs, 150K miles. Make a dollar per mile.
> 
> ...


This guy's got it figured out. :thumbup:

It's still going to be possible to make a profit by purchasing a nicer car or having a mechanic do all the work but it would really eat into profits. I always tell pax that are interested in driving to KEEP TRACK OF YOUR EXPENSES! As was stated, too many drivers don't consider this. They're practically paying Uber/Lyft to drive.

My expenses are closer to 25% due to driving a "non-ideal" vehicle (25mpg, premium fuel, expensive tires) and not separating out U/L driving from personal driving. Having said that, I couldn't do this gig in a boring car. I admire you folks in Toyota Corolla's and Nissan Versa's but I don't have it in me to drive that kind of car around for hours on end.

In reality, my expenses are likely around 20% after subtracting personal use but it's gets too muddy to keep track of all that. I just pile all driving expenses together and call it a day :confusion:


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## Donshonda (May 3, 2016)

Weekend warrior here. 4 years under my belt. 4,000 rides, and have grossed $ 40 k total from Uber since I started. (Just wanted a side gig to supplement my 9-5) Had just purchased a '15 Honda Pilot for family use 3 months before I started. now has 100,000 miles. The Honda has only needed brake pads and rotors, oil changes with filters and 3 sets of tires, the entire 4 years I've owned it.. My vehicle is now *still* worth $3,000 *More* than what I owe on it.

Is that math wrong? I don't seem to be in the hole that much???


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## UberchickATL (Apr 27, 2018)

nouberipo said:


> .58 includes the depreciation so no you cannot claim depreciation separately if you are using the .58 write-off


Right. We get paid 60 cents per mile. So tell me again how profiting 2 cents a mile is wonderful? For those that can do their own oil changes and repairs, or have a "connection for cheap cars or repairs, I understand. But for anyone else it's something to consider before thinking you can make a living wage doing ride share.


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## Syn (Jun 30, 2017)

I bought a brand new car for $15,500. Paid it off with part driving in 1 year. So lets say that I made $0 my first year.
Car has 120,000 miles now. Not a single issue. It should last me at least another 100,000 miles.

In the last 2 years I saved $43,000 from part time driving. I don't use ride sharing money for regular living expenses - my full time job covers that. I only use to for a trip to Europe once per year (which usually costs me around $5,000). So before my car is due to a replacement, I should be able to save another $40,000 from it.

So in 3 years, even after paying my car off, taxes, maintenance, etc + taking annual trips to Europe - I still have $43,000 saved in a separated bank account from doing part-time ride sharing. So yes - I'm making money.


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## APettyJ (Sep 29, 2017)

UberchickATL said:


> Right. We get paid 60 cents per mile. So tell me again how profiting 2 cents a mile is wonderful? For those that can do their own oil changes and repairs, or have a "connection for cheap cars or repairs, I understand. But for anyone else it's something to consider before thinking you can make a living wage doing ride share.


$.60 per mile, plus the time rate. I actually make over a dollar a mile every week, though the mileage rate here is $.69.


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## Jay Dean (Apr 3, 2015)

There are tons of car parts that could need to be replaced you would never think about for instance I had to get my door actuator exchanged and one of 3 of the engine mounts called a dogbone. These parts I would not even consider as part of driving, fact is you ware out every part, hundreds of parts and unless you are mechanic, you are losing money or not realistic to having to have to replace every part of the vehicle WITH labor costs. I have to get a wheel berring replaced this week, few months back it was all engine coils that ignite the pistons. If I were to pay a shop alone just to fix those issues alone I would easily be looking at 2k, since my mechanic friend can do it, 200 bucks. Trust me these same parts are wearing out at every turn doing rideshare and you ARE losing money at these rates having anyone fix all parts on a car by a professional.

If you drive a car knowing it is going to the junk yard doing this that is one thing, for people to think it can also be a car that lasts is another, plus good luck selling the car, if a dealer knows it was used for rideshare he would run from it like the plague


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## DriverMark (Jan 22, 2018)

Yes, living wage I don't know how people do it. But many above have posted how it can be done. 

Side hustle for me. Haven't worked much of the hustle last couple months. Which is the joy of this "gig". Rest of this month I'll put in time and make $2-3k. Why it works for me. Extra cash when I need it and when I want to work.


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## Ssgcraig (Jul 8, 2015)

nouberipo said:


> .58 includes the depreciation so no you cannot claim depreciation separately if you are using the .58 write-off


I used the standard deduction and was able to claim depreciation amount.


UberchickATL said:


> Right. We get paid 60 cents per mile. So tell me again how profiting 2 cents a mile is wonderful? For those that can do their own oil changes and repairs, or have a "connection for cheap cars or repairs, I understand. But for anyone else it's something to consider before thinking you can make a living wage doing ride share.


I think you misunderstood, your are not paying taxes on your income at the end of the day. I get paid $.70, some others are more. So tell me how that is not a financial advantage, not to pay income tax? My day job takes about $1,100 a month just in federal taxes.


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## UberLaLa (Sep 6, 2015)

Some of the OG members here gonna wanna marry OP. Smart is sexy...

:coolio:


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## Nats121 (Jul 19, 2017)

oldfart said:


> I put my car into rideshare when it was 7 years old with 70000 miles 18 months ago. I estimated it's value then to be $18000
> 
> I expect to drive it another 18 months at which time it will have 300000 miles and be ready for the junk yard
> 
> ...


According to your numbers, you claim to be driving 76,000 miles per year. That doesn't sound plausible.

How many hours per week are you doing rideshare?

You also claim to be grossing $1250 per week. Most of Florida has terrible pay rates. What are the rates for Fort Myers?


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## UberLaLa (Sep 6, 2015)

oldfart said:


> I put my car into rideshare when it was 7 years old with 70000 miles 18 months ago. I estimated it's value then to be $18000
> 
> I expect to drive it another 18 months at which time it will have 300000 miles and be ready for the junk yard
> 
> ...


I pay 600 a week for a livery lease (average 2,200-2,500 a week in privates U/L) and pay 300 a week on fuel. Sure, the weekly lease is EXPENSIVE, but I just give it back when I'm done with it. The lease + fuel my only costs...


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## Veal66 (Dec 8, 2014)

UberchickATL said:


> Right. We get paid 60 cents per mile. So tell me again how profiting 2 cents a mile is wonderful? For those that can do their own oil changes and repairs, or have a "connection for cheap cars or repairs, I understand. But for anyone else it's something to consider before thinking you can make a living wage doing ride share.


58c per mile is the IRS rate to use when calculating your Taxable income. That can be very different from what the rate per mile is on your real depreciation and expenses that you use to calculate your Book income, or your real Profit & Loss. For example, the real expenses cost on my 2008 Prius is about 12-15c per mile. So I definitely like the higher rate offered by the IRS when I do my taxes.


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## CJfrom619 (Apr 27, 2017)

If some of these drivers would spend less time trying to figure out there expenses and spend that time giving rides for money then Im sure they would have more income. What is it with drivers consumed with deadmiles, depreciation, cents per mile, taxes etc. 

Yea put some thought into it but don’t let it consume your every thought.


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## Jay Dean (Apr 3, 2015)

CJfrom619 said:


> If some of these drivers would spend less time trying to figure out there expenses and spend that time giving rides for money then Im sure they would have more income. What is it with drivers consumed with deadmiles, depreciation, cents per mile, taxes etc.
> 
> Yea put some thought into it but don't let it consume your every thought.


Some actually do math it the real world though, is that not worthy of discussion?


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## CJfrom619 (Apr 27, 2017)

Jay Dean said:


> Some actually do math it the real world though, is that not worthy of discussion?


Discussion or obsession? Im sure if I go back to look at all your posts...im sure I'll see alot of time wasted on this discussion.


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## Jay Dean (Apr 3, 2015)

CJfrom619 said:


> Discussion or obsession? Im sure if I go back to look at all your posts...im sure I'll see alot of time wasted on this discussion.


Guess what Jack, I doing it at work while getting paid and trying to help others in downtime, you rather I watch a movie instead? Do you care that I have an opinion that I feel is fact? And math shows I am not just feeling


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## CJfrom619 (Apr 27, 2017)

Jay Dean said:


> Guess what Jack, I doing it at work while getting paid and trying to help others in downtime, you rather I watch a movie instead? Do you care that I have an opinion that I feel is fact? And math shows I am not just feeling


My name is Carl not Jack friend. Trying to help those that don't listen is a waste of time and yes you would be better off watching a movie. Your math is always wrong though. You assume every driver has the same expenses and the same investments into the job which is not the case.


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## Jay Dean (Apr 3, 2015)

CJfrom619 said:


> My name is Carl not Jack friend. Trying to help those that don't listen is a waste of time and yes you would be better off watching a movie. Your math is always wrong though. You assume every driver has the same expenses and the same investments into the job which is not the case.


Ok Carl, tell me what parts you are using for each ride of your car for any request you take.
I will give you a few days to answer....


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## CJfrom619 (Apr 27, 2017)

Jay Dean said:


> Ok Carl, tell me what parts you are using for each ride of your car for any request you take.
> I will give you a few days to answer....


I use all parts of the car when I'm driving. Well that didnt take a few days.


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## Jay Dean (Apr 3, 2015)

CJfrom619 said:


> I use all parts of the car when I'm driving. Well that didnt take a few days.


Now cost that out...and what I meant was the costs of using those parts lol, I assume you thought I didn't know you use all those parts? Does money compute in this to you at all? Cmon, I can't spoon feed you on this


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## DoYouEvenLyft? (Apr 11, 2019)

UberchickATL said:


> People don't look at the big picture as to how much ride share actually COSTS us as drivers. If you plan on driving full time, or close to full time, plan on about 50,000 miles per year. After 4 years, what's your $20,000 car with 200,000 miles on it worth (if your car even lasts that long)? Plus factor in all the repairs and maintenance during that time.
> 
> Oh and what lender will offer you a car loan when your main source of income is rideshare? Only predictor lenders so plan on paying a crazy amount of money for your next car.
> 
> ...


Look, we get it. There are thousands of threads about this topic. So thank you again for repeating the same $h!+.

1. Yes, no one should be using a $20,000 to do ride share, but hey if that's all they got then let them work with what they got. I bought my vehicle for $10,000. But I never planned to do U/L until I lost my job. Crazy thing is, I made enough money in about 3 months to pay off my car loan. My credit grew DRASTICALLY because of that. Also, I dont plan on selling my car. I plan on driving it till the doors fall off and the radio stops working lol. So that depreciation crao dont mean Jack to me.

2. When it comes to maintenance, I get my brakes, tires, and any other parts online. I save money that way, as well as saving money by installing parts myself.

Volkswagen wants:
$400 to replace my spark plugs 
$700 for good quality tires
$250 for a battery 
$70 for a full synthetic oil change.

They can kiss my a$$ if they think i will pay that lololololol. Listen guys, there is YouTube and you can buy a tool set for cheapppppp. I bought OEM spark plugs for about $45 for all 5. Tire rack gave me good tires for $500 and I can get them installed for $10 a tire. I bought a battery for $80 new and I do my own oil changes for $30.

YOU NEED TO KNOW HOW TO RUN YOUR BUSINESS EFFICIENTLY AND LOOK FOR WAYS TO CUT YOUR OPERATING COSTS DOWN!!!!

3. RideShare is no different from any other independent contractor job. You can get a car loan as long as you got 3 things.
-Good credit
-decent monthly income
-good downpayment.

Last but not least, you need to take care of your body while driving for long periods of time. Get out and stretch. EAT HEALTHY!!!

Ok, I'm done.


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## CJfrom619 (Apr 27, 2017)

Jay Dean said:


> Now cost that out


English please?


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## Jay Dean (Apr 3, 2015)

CJfrom619 said:


> English please?


Do you know how to use a spread sheet, have you ever heard of costing out before?


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## CJfrom619 (Apr 27, 2017)

Jay Dean said:


> Do you know how to use a spread sheet, have you ever heard of costing out before?


You want me to list all the parts in my car with a price listing? Lol really


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## Jay Dean (Apr 3, 2015)

CJfrom619 said:


> You want me to list all the parts in my car with a price listing? Lol really


I don't know how to answer this


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## CJfrom619 (Apr 27, 2017)

Jay Dean said:


> I don't know how to answer this


Cmon Jay. Do you not remember me? I told you 2 days ago that I am using a rental for the last 5 months that takes care of all the maintenance including oil changes. I have had to pay $0 for my vehicle since January. I told you that before the rental I was using a car I bought for $6k and had an average of $1200 in maintenance expenses over a 4 year period. Do you not remember me or do you just think your talking to another dumb driver who takes every request.

Jay do you also assume that we all get paid the same $/hour regardless of the market your in?

Let me ask you something else Jay? How do you get to work? Do you own a vehicle ? Do you ever have to pay for oil changes or get your brakes fixed?


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## Jay Dean (Apr 3, 2015)

CJfrom619 said:


> Cmon Jay. Do you not remember me? I told you 2 days ago that I am using a rental for the last 5 months that takes care of all the maintenance including oil changes. I have had to pay $0 for my vehicle since January. I told you that before the rental I was using a car I bought for $6k and had an average of $1200 in maintenance expenses over a 4 year period. Do you not remember me or do you just think your talking to another dumb driver who takes every request.


I wouldn't dare waste my time with a rental as my main source of income so no, if you somehow are gaming the system through the rental company than good for you, still a colossal waste of time if your interest is being a scammer, reality is everyone loses with these rates,there may be people that game a rental system somehow, but for those with their own car stay away and for God's sake don't end up being a scammer lol, life is way too short. Especially for chump change, If you game something do it for a reason. Lesson clearly learned from someone scamming a rental company (if what he says is true)

Btw they know your game but you are 1 out of 100 doing shady business, and are costed out in their projections, nothing you are doing is actually breaking any barrier, you are part of the wheel of each business and shocking you can fold money in your pocket after it all, don't worry they will get wise to your scams soon lol


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## CJfrom619 (Apr 27, 2017)

Jay Dean said:


> I wouldn't dare waste my time with a rental as my main source of income so no, if you somehow are gaming the system through the rental company than good for you, still a colossal waste of time if your interest is being a scammer, reality is everyone loses with these rates,there may be people that game a rental system somehow, but for those with their own car stay away and for God's sake don't end up being a scammer lol, life is way too short. Especially for chump change, If you game something do it for a reason. Lesson clearly learned from someone scamming a rental company (if what he says is true)


Thats why you no longer drive. Some can make this job work and some can't.


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## Jay Dean (Apr 3, 2015)

CJfrom619 said:


> Thats why you no longer drive. Some can make this job work and some can't.


Eh, your not doing anything other than being a statistic to a business plan, kinda like costing out the person that over-eats at a buffet, you are not doing anything they aren't seeing and give it time, your ticket will be called for the maintenance costs on your rental


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## oldfart (Dec 22, 2017)

UberchickATL said:


> Right. We get paid 60 cents per mile. So tell me again how profiting 2 cents a mile is wonderful? For those that can do their own oil changes and repairs, or have a "connection for cheap cars or repairs, I understand. But for anyone else it's something to consider before thinking you can make a living wage doing ride share.


Our actual expenses are not 58 cents a mile


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## DriverMark (Jan 22, 2018)

I need a beating a dead horse photo.....


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## RabbleRouser (Apr 30, 2019)

UberchickATL said:


> People don't look at the big picture as to how much ride share actually COSTS us as drivers. If you plan on driving full time, or close to full time, plan on about 50,000 miles per year. After 4 years, what's your $20,000 car with 200,000 miles on it worth (if your car even lasts that long)? Plus factor in all the repairs and maintenance during that time.
> 
> Oh and what lender will offer you a car loan when your main source of income is rideshare? Only predictor lenders so plan on paying a crazy amount of money for your next car.
> 
> ...











Syn said:


> I bought a brand new car for $15,500. Paid it off with part driving in 1 year. So lets say that I made $0 my first year.
> Car has 120,000 miles now. Not a single issue. It should last me at least another 100,000 miles.
> 
> In the last 2 years I saved $43,000 from part time driving. I don't use ride sharing money for regular living expenses - my full time job covers that. I only use to for a trip to Europe once per year (which usually costs me around $5,000). So before my car is due to a replacement, I should be able to save another $40,000 from it.
> ...


Uber's a great way to supplement a FT income
⚠Uber is Not a great FT career AKA: lazy man's dodge from reality 
Uber is a great PT gig


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## nosurgenodrive (May 13, 2019)

UberchickATL said:


> People don't look at the big picture as to how much ride share actually COSTS us as drivers. If you plan on driving full time, or close to full time, plan on about 50,000 miles per year. After 4 years, what's your $20,000 car with 200,000 miles on it worth (if your car even lasts that long)? Plus factor in all the repairs and maintenance during that time.
> 
> Oh and what lender will offer you a car loan when your main source of income is rideshare? Only predictor lenders so plan on paying a crazy amount of money for your next car.
> 
> ...


$50,000 a year. $20,000 car. $0.58 a mile tax write off. 50,000 miles a year. 150,000 miles in three years. $150,000 in tax free income in three years. Your car is subsidized in your tax write offs. Your math is off.

It isn't the best, and I wouldn't recommend being a rideshare driver for over three years, but it isn't nearly as awful as you're making it out to be.

Sell your three year old car with 150,000 miles on it for around $5000. There's your down payment. If you were smart, you would have set aside $10,000 for your next vehicle. Your loan is only $7000 at that point. Car payments should only be $150 a month.

Would you like any other financial advice?


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## RabbleRouser (Apr 30, 2019)

nosurgenodrive said:


> $50,000 a year. $20,000 car. $0.58 a mile tax write off. 50,000 miles a year. 150,000 miles in three years. $150,000 in tax free income in three years. Your car is subsidized in your tax write offs. Your math is off.
> 
> It isn't the best, and I wouldn't recommend being a rideshare driver for over three years, but it isn't nearly as awful as you're making it out to be.
> 
> ...


I find it beneficial Not to employ 
Financial
Legal
and Tax
advise from Uber drivers

The ability to talk Bull Shit is not a credential outside a noisy bar or poker game


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## MiamiKid (May 24, 2016)

UberchickATL said:


> People don't look at the big picture as to how much ride share actually COSTS us as drivers. If you plan on driving full time, or close to full time, plan on about 50,000 miles per year. After 4 years, what's your $20,000 car with 200,000 miles on it worth (if your car even lasts that long)? Plus factor in all the repairs and maintenance during that time.
> 
> Oh and what lender will offer you a car loan when your main source of income is rideshare? Only predictor lenders so plan on paying a crazy amount of money for your next car.
> 
> ...


And are you, somehow, being forced to drive rideshare?

Free Market Capitalism!

Uber Rocks!


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## mbd (Aug 27, 2018)

UberchickATL said:


> People don't look at the big picture as to how much ride share actually COSTS us as drivers. If you plan on driving full time, or close to full time, plan on about 50,000 miles per year. After 4 years, what's your $20,000 car with 200,000 miles on it worth (if your car even lasts that long)? Plus factor in all the repairs and maintenance during that time.
> 
> Oh and what lender will offer you a car loan when your main source of income is rideshare? Only predictor lenders so plan on paying a crazy amount of money for your next car.
> 
> ...


If you driving x, just buy a used one owner vehicle. Too many ants on the road , and most happy making 80 dollars a day. If your city is happening place, more people will move in, and it brings in more drivers.


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## oldfart (Dec 22, 2017)

Nats121 said:


> According to your numbers, you claim to be driving 76,000 miles per year. That doesn't sound plausible.
> 
> How many hours per week are you doing rideshare?
> 
> You also claim to be grossing $1250 per week. Most of Florida has terrible pay rates. What are the rates for Fort Myers?


Last year I drove 70000 miles, but I was away most of November and December. So far this year, 5.5 months 42000 miles

On a typical day I turn the app on at 3:30AM and I'm usually home by 5:00PM 6 days a week. So call it 70 hr a week (but at least 4 hours a day is waiting (often sleeping) at the airport)

The $1250 figure was for the first 4 months of the year.For a number of reasons Ive been working much less for the last few weeks, so my hours and income has dropped a bit,,,with any luck ill get back on track in another week or two.

Rates in Ft Myers/Naples are:
X. $0.76 per mile and 10.cents a min
XL $1.125 per mile and 15 cents a min
I also do cash rides when I can. I charge Uber rates but I keep the whole fare,This isn't a big part of what I do ....yet


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## touberornottouber (Aug 12, 2016)

OldBay said:


> Rideshare is worth it if you can pull 22-25/hr in app and keep your total expenses at or below 20%.


Impossible, if not completely ridiculous in most markets. At $2.50 a gallon and assuming 30 mpg your gas expense is 8.34 cents per mile (and not just your paid miles).

In Orlando it's 54 cents a mile which you are getting paid.

That's already over 15% assuming zero dead miles and no other expenses at all -- which is completely ridiculous.

----

The funny thing about these type of posts is that when you come back and look at them say 6-12 months later you often see some of the people talking about how they are "only paying 10 cents a mile in costs" and "don't worry about maintenance or depreciation" had to leave rideshare because "oh my car blew up" or "oh, I needed a new engine" or "I got hit by a drunk driver who ran off and the insurance company doesn't want to pay because I had the cheapest insurance".

It's people spreading this BS which is making the market get flooded with new naive drivers along with the companies feeling it is okay to pay us 40 cents a mile.


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## Peter Vann (Jun 30, 2017)

So far my car repair bills have been minimal (knock on wood). Been driving 2+ years PT and made enough $$ to pay off some bills and kids college tuition. This is not meant to be a full time / sole income gig. But as side gig it’s pretty good. I made $100 driving home from my regular 9-5 job today. That’s a one way commute and while it doesn’t happen all the time like that, it’s at least $50-$70 or so. Just for driving home and taking a bit longer. 2 hrs instead of one.


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## Nats121 (Jul 19, 2017)

Peter Vann said:


> . This is not meant to be a full time / sole income gig.


That myth has been spouted a zillion times on this website by people trying defend uber and lyft's rotten pay rates. It doesn't wash.

Uber used to advertise rideshare as a high-paying FULL TIME job. The FTC sued uber for falsely claiming that full time drivers in NYC were averaging $90,000 per year. Uber had to pay $20,000,000 in damages to drivers.


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## MiamiKid (May 24, 2016)

Nats121 said:


> That myth has been spouted a zillion times on this website by people trying defend uber and lyft's rotten pay rates. It doesn't wash.
> 
> Uber used to advertise rideshare as a high-paying FULL TIME job. The FTC sued uber for falsely claiming that full time drivers in NYC were averaging $90,000 per year. Uber had to pay $20,000,000 in damages to drivers.


Complain all wish; but, am on Uber's side 100%. It was pitched, to me, as a supplemental income, part time, rideshare gig. Has worked perfectly.

Have seen multiple ads, for Uber, on television. Not once did I see, or hear, Uber advertise, or even suggest, it was structured to be a fulltime job.

If it doesn't work for you, then quit. This forum is the worst bunch of complainers I've ever seen. It is not at all helpful.

Uber rocks!


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## Nats121 (Jul 19, 2017)

MiamiKid said:


> Complain all wish; but, am on Uber's side 100%. It was pitched, to me, as a supplemental income, part time, rideshare gig. Has worked perfectly.
> 
> Have seen multiple ads, for Uber, on television. Not once did I see, or hear, Uber advertise, or even suggest, it was structured to be a fulltime job.
> 
> ...


It's irrelevant how it was "pitched" to you, the previous poster made a factually erroneous statement, period.

If all the whining on the COMPLAINTS forum bothers you so much, take your own advice and QUIT coming here.


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## MiamiKid (May 24, 2016)

Nats121 said:


> It's irrelevant how it was "pitched" to you, the previous poster made a factually erroneous statement, period.
> 
> If all the whining on the COMPLAINTS forum bothers you so much, take your own advice and QUIT coming here.





Nats121 said:


> It's irrelevant how it was "pitched" to you, the previous poster made a factually erroneous statement, period.
> 
> If all the whining on the COMPLAINTS forum bothers you so much, take your own advice and QUIT coming here.


From my standpoint, which is the one that matters, how it was pitched is totally relevant. Period.

And I will not stop until these pathetic "whiners" stop going after others whom are just fine with Uber. Sick and tired of the attacks on Uber and the free market economic system that's made the USA the greatest country the world's ever seen.


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## Polomarko (Dec 20, 2016)

UberchickATL said:


> People don't look at the big picture as to how much ride share actually COSTS us as drivers. If you plan on driving full time, or close to full time, plan on about 50,000 miles per year. After 4 years, what's your $20,000 car with 200,000 miles on it worth (if your car even lasts that long)? Plus factor in all the repairs and maintenance during that time.
> 
> Oh and what lender will offer you a car loan when your main source of income is rideshare? Only predictor lenders so plan on paying a crazy amount of money for your next car.
> 
> ...


 Car cost for Toyota Prius is about $700.00 a month!


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## Peter Vann (Jun 30, 2017)

Nats121 said:


> That myth has been spouted a zillion times on this website by people trying defend uber and lyft's rotten pay rates. It doesn't wash.
> 
> Uber used to advertise rideshare as a high-paying FULL TIME job. The FTC sued uber for falsely claiming that full time drivers in NYC were averaging $90,000 per year. Uber had to pay $20,000,000 in damages to drivers.


I'm not saying Uber didn't pitch it as full time job. I'm just saying as a full time job it sucks. And full time drivers would do better seeking a FT job with legit company.


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## Nats121 (Jul 19, 2017)

Peter Vann said:


> I'm not saying Uber didn't pitch it as full time job. I'm just saying as a full time job it sucks. And full time drivers would do better seeking a FT job with legit company.


It does suck as a full time job and with the bad pay rates, disappearing surges, boosts, and quests, it sucks part time for most people as well.

The vast majority of full time drivers are Third World immigrants, many with limited English and job skills.


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## Ubermcbc (Sep 25, 2016)

UberchickATL said:


> People don't look at the big picture as to how much ride share actually COSTS us as drivers. If you plan on driving full time, or close to full time, plan on about 50,000 miles per year. After 4 years, what's your $20,000 car with 200,000 miles on it worth (if your car even lasts that long)? Plus factor in all the repairs and maintenance during that time.
> 
> Oh and what lender will offer you a car loan when your main source of income is rideshare? Only predictor lenders so plan on paying a crazy amount of money for your next car.
> 
> ...


Well you can always earn badges that you can redeem it to your nearest dealership when getting an upgrade. Make sure you have a straight face while dealing with the salesman. No smiling.


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## MiamiKid (May 24, 2016)

Nats121 said:


> It does suck as a full time job and with the bad pay rates, disappearing surges, boosts, and quests, it sucks part time for most people as well.
> 
> The vast majority of full time drivers are Third World immigrants, many with limited English and job skills.


Great news! Excellent solution available:

Quit Driving Rideshare


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## Fozzie (Aug 11, 2018)

DriverMark said:


> I need a beating a dead horse photo.....


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## oldfart (Dec 22, 2017)

Nats121 said:


> It does suck as a full time job and with the bad pay rates, disappearing surges, boosts, and quests, it sucks part time for most people as well.
> 
> The vast majority of full time drivers are Third World immigrants, many with limited English and job skills.


What does immigration status have to do with "luckiness" I don't understand your point


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## Merc49 (Apr 30, 2019)

If i was a good looking woman i could get my car fixed for free!


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## MiamiKid (May 24, 2016)

Fozzie said:


> View attachment 328311


Seriously?


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## Fozzie (Aug 11, 2018)

MiamiKid said:


> Seriously?


What part don't you understand? (or are you offended by animated gifs?)


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## rideshare2870 (Nov 23, 2017)

If you want a quick answer if rideahare is worth it, the quick answer is no. However, if you want to make money from this, your priority has to be to minimize financial risk. Your car should only be a few years above the cut off year, something reasonable on gas, with some sort of emergency fund on the side. Also, it’s always better to find a car with a recent timing belt and water pump replacement or better yet something with a timing chain since they rarely go out. It will be fun collecting tips without a car payment. Sometimes you can bank really well on some nights with good tips but this is an exception to the rule. The bottom line is this, you can’t justify good income from this by your tips because they are an exception to the rule so you need to minimize risk. Having a 20K car to do this is already a bad choice from day one.


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## MiamiKid (May 24, 2016)

Fozzie said:


> What part don't you understand? (or are you offended by animated gifs?)


Seriously?


----------



## rideshare2870 (Nov 23, 2017)

Syn said:


> I bought a brand new car for $15,500. Paid it off with part driving in 1 year. So lets say that I made $0 my first year.
> Car has 120,000 miles now. Not a single issue. It should last me at least another 100,000 miles.
> 
> In the last 2 years I saved $43,000 from part time driving. I don't use ride sharing money for regular living expenses - my full time job covers that. I only use to for a trip to Europe once per year (which usually costs me around $5,000). So before my car is due to a replacement, I should be able to save another $40,000 from it.
> ...


15k for a new car? What do you have? My guess is a compact car?


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## Fozzie (Aug 11, 2018)

MiamiKid said:


> Seriously?


Yeah?



rideshare2870 said:


> 15k for a new car? What do you have? My guess is a compact car?


I bought a new Nissan Sentra for $16k. Drove it for a couple of months, then parked it because it's uncomfortable as hell. It now sits in my driveway, and gets driven for rideshare when I drop off my Altima for oil changes and service. (The 2 year old Altima with 15k miles was purchased for $11k)


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## MiamiKid (May 24, 2016)

Fozzie said:


> View attachment 328311


What's the point? Offensive


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## Fozzie (Aug 11, 2018)

MiamiKid said:


> What's the point? Offensive


Why is a term like "beating a dead horse" offensive?


----------



## MiamiKid (May 24, 2016)

Fozzie said:


> Why is a term like "beating a dead horse" offensive?
> 
> View attachment 328394


Way overdone


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## Italianrick (Oct 20, 2017)

nosurgenodrive said:


> $50,000 a year. $20,000 car. $0.58 a mile tax write off. 50,000 miles a year. 150,000 miles in three years. $150,000 in tax free income in three years. Your car is subsidized in your tax write offs. Your math is off.
> 
> It isn't the best, and I wouldn't recommend being a rideshare driver for over three years, but it isn't nearly as awful as you're making it out to be.
> 
> ...


I did the exact same thing. My car payment is 158 a month. This gig works for me,I'm a PT driver so I didn't make 50,000 but still is a good. Plan


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## OldBay (Apr 1, 2019)

touberornottouber said:


> Impossible, if not completely ridiculous in most markets. At $2.50 a gallon and assuming 30 mpg your gas expense is 8.34 cents per mile (and not just your paid miles).
> 
> In Orlando it's 54 cents a mile which you are getting paid.
> 
> ...


I think you are well meaning, but your calculations never make sense to me.

Major source of income is base fare, tips, and time which are not related to miles.

I agree with the idea of discouraging new drivers. OK, your math is spot on.


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## Fairshare (Jun 26, 2018)

Definitely a decent full time job if Uber would stop scamming the drivers. The evidence is all th4 people that do it full time and make great money consistently. 

I basically threw a dart on the map, moved & my market is a goldmine. If drivers are on the road Uber is making money.... If drivers have no reason to be on the road, then Uber loses money.

For example the IPO didnt do so well because drivers were striking. If drivers weren't striking the IPO would likely have been a big success IMO. Telling people to quit & saying it was meant to be part time work are distractions from the real problem. If Uber paid drivers much more in the past & grew to where it is today. There is no excuse to not keep the drivers happy. They dont want experienced(fulltime) drivers because they see the scams & will expose the scams, simple as that.


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## MiamiKid (May 24, 2016)

Fairshare said:


> Definitely a decent full time job if Uber would stop scamming the drivers. The evidence is all th4 people that do it full time and make great money consistently.
> 
> I basically threw a dart on the map, moved & my market is a goldmine. If drivers are on the road Uber is making money.... If drivers have no reason to be on the road, then Uber loses money.
> 
> For example the IPO didnt do so well because drivers were striking. If drivers weren't striking the IPO would likely have been a big success IMO. Telling people to quit & saying it was meant to be part time work are distractions from the real problem. If Uber paid drivers much more in the past & grew to where it is today. There is no excuse to not keep the drivers happy. They dont want experienced(fulltime) drivers because they see the scams & will expose the scams, simple as that.


The strike had, absolutely, zero effect on the IPO. None.

Issue was the valuation, profitability, etc. However, the strike did put me, entirely, on Uber's side and against striking drivers.


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## VictorD (Apr 30, 2017)

UberchickATL said:


> OK. *Buy a car for $5,000.* Don't forget to add interest if you get a loan.* It will probably already have 100,000 miles on it*. What's your car worth in *2 years with 200,000 miles* on it? Again, if it even lasts that long. Plus all the repair costs?
> 
> No matter how much you buy a car for, you are paying a portion of your own wages from the depreciation of your car.


So what! Drop the $5K, drive it for 2 years and then unload it for $2K to some teenager who needs a car to deliver pizza. That $3K loss prorates out to $125/month + operational costs for a vehicle that you only purchased to serve as a revenue generator to begin with. Meanwhile, your regular vehicle still sits there with low mileage, still looking shiny and new.


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## gw03081958 (Jun 28, 2016)

UberchickATL said:


> People don't look at the big picture as to how much ride share actually COSTS us as drivers. If you plan on driving full time, or close to full time, plan on about 50,000 miles per year. After 4 years, what's your $20,000 car with 200,000 miles on it worth (if your car even lasts that long)? Plus factor in all the repairs and maintenance during that time.
> 
> Oh and what lender will offer you a car loan when your main source of income is rideshare? Only predictor lenders so plan on paying a crazy amount of money for your next car.
> 
> ...


Most of us know it's a job for the desperate.


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## MiamiKid (May 24, 2016)

MiamiKid said:


> The strike had, absolutely, zero effect on the IPO. None.
> 
> Issue was the valuation, profitability, etc. However, the strike did put me, entirely, on Uber's side and against striking drivers.


Love to hear, even one, established financial analyst, specializing in IPO valuation, say the strike was the reason for the less than desirable performance.


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## Fairshare (Jun 26, 2018)

LOL , yeah agreed. I desperately dont want to work a "real job". Low pay, crap hours, zero flexabilty, no upward mobility & horrible bosses. 

Who's really desperate, LOL? I'll take the name calling while you slave your life away, hahahaha!


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## touberornottouber (Aug 12, 2016)

OldBay said:


> I think you are well meaning, but your calculations never make sense to me.
> 
> Major source of income is base fare, tips, and time which are not related to miles.
> 
> I agree with the idea of discouraging new drivers. OK, your math is spot on.


I'm not sure what there is to disagree with. Take the cost of gas in gallons divided by your real mpg. That is your gas cost per mile. Remember though, that is EVERY SINGLE MILE and not just your paid miles though.

Tips. Meh. For most of us that is almost non-existent. Today for instance out of about $60 worth of rides $3.75 of that was a tip. Time pay? Meh. For most of us it is under 12 cents a minute. I guess oyu could add in tips for an extra 5-10% of your gross if you want. Time pay simply makes any calculations far more complex. Perhaps you can add on another 7-10% to your gross to compensate.

I try to present REALITY. As with many things humans are predisposed to seeing the things they do through "rose colored glasses". People never want to be wrong or admit it to themselves. So a lot of drivers -- especially new ones -- will delude themselves in various ways to make it look like they are making more money than they are.

Here are some common ones:

1. Pretending the only real cost they have is their gas expense and that added depreciation, maintenance, and repair expenses simply do not exist.

2. Pretending that all their mileage is paid miles and completely ignoring dead miles or grossly underestimating it.

3. Pretending that their maintenance/repair expense on a car with 0-50,000 miles on it is going to be the same when the said car has 150,000+ miles on it.

4. Completely overlooking the increased risk of accidents when driving more and doing rideshare (especially if at night or bar closing!)

Like I said I get paid 91 cents a mile. I barely see this as profitable and I know that overall I would be better off financially getting a retail job (due to less costs but roughly the same revenue). I also drive a Corolla which gets 33 mpg combined and 40 mpg on the highway. I cannot imagine doing this with a gas guzzler while making 40-70 cents. It would be NEGATIVE profit in the long term doing that. In my educated opinion most people doing this while driving pickup trucks at 55 cents a mile are lying to themselves if they think it is profitable. It's not.

I do get though that people have different circumstances. The problem is though every newbie out there thinks they are the special circumstance...until they learn otherwise which usually takes some time. Uber/Lyft basically exist because of this driver ignorance.



Fairshare said:


> Definitely a decent full time job if Uber would stop scamming the drivers. The evidence is all th4 people that do it full time and make great money consistently.


The problem is, in great part due to driver ignorance, drivers are willing to work for as low as 36 cents a mile. The companies see this and think "why not lower everyone's pay to this and pocket the rest for ourselves". This has been going on for many years now. It greatly accelerated circa-2017 when they switched from percentage based pay to only getting miles and minutes. I was right here on this forum talking about how this would be the start of drivers getting screwed and that we should fight back now.


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## MiamiKid (May 24, 2016)

touberornottouber said:


> I'm not sure what there is to disagree with. Take the cost of gas in gallons divided by your real mpg. That is your gas cost per mile. Remember though, that is EVERY SINGLE MILE and not just your paid miles though.
> 
> Tips. Meh. For most of us that is almost non-existent. Today for instance out of about $60 worth of rides $3.75 of that was a tip. Time pay? Meh. For most of us it is under 12 cents a minute. I guess oyu could add in tips for an extra 5-10% of your gross if you want. Time pay simply makes any calculations far more complex. Perhaps you can add on another 7-10% to your gross to compensate.
> 
> ...


Why on earth are you focused on telling others what's not working for them?

Consider taking this energy and doing something productive. Guaranteed, that will put more money in your pocket than complaining on this forum.

It seems people who are dissatisfied with Uber, on this forum, have a major problem with folks who are satisfied with this situation.

Nobody's going to tell me my financial situation or what works or doesn't work.

Period.


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## gw03081958 (Jun 28, 2016)

MiamiKid said:


> The strike had, absolutely, zero effect on the IPO. None.
> 
> Issue was the valuation, profitability, etc. However, the strike did put me, entirely, on Uber's side and against striking drivers.


No one cares.


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## Driver_Down (Dec 11, 2018)

BigRedDriver said:


> I pay cash. I find the cheapest, well maintained car, 13 years old or newer. This one I paid 2K for. Next one? Likely a bit more. I've put 35,000 on it and could get 2.5K for it today.
> 
> I do my own work on it.
> 
> ...


It definitely helps to know the cars. Personally I used to see hoop ties all day every day on lyft and Uber, but now it's seems the majority of cars are drivers who's egos got in the way in brand 16" and up cars. Makes it much harder to stay driving a hooptie, but since I've never done it can't say. Does ratings drop badly? The only issue is deactivation from that due to such an old car. Imo that is the best, but rarely seen anymore.


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## Runeatic (Apr 30, 2016)

UberchickATL said:


> People don't look at the big picture as to how much ride share actually COSTS us as drivers. If you plan on driving full time, or close to full time, plan on about 50,000 miles per year. After 4 years, what's your $20,000 car with 200,000 miles on it worth (if your car even lasts that long)? Plus factor in all the repairs and maintenance during that time.
> 
> Oh and what lender will offer you a car loan when your main source of income is rideshare? Only predictor lenders so plan on paying a crazy amount of money for your next car.
> 
> ...


If your doing 4 years, you should be making 160k which is enough for a car and repairs


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## cspringer805 (Jan 29, 2019)

UberchickATL said:


> People don't look at the big picture as to how much ride share actually COSTS us as drivers. If you plan on driving full time, or close to full time, plan on about 50,000 miles per year. After 4 years, what's your $20,000 car with 200,000 miles on it worth (if your car even lasts that long)? Plus factor in all the repairs and maintenance during that time.
> 
> Oh and what lender will offer you a car loan when your main source of income is rideshare? Only predictor lenders so plan on paying a crazy amount of money for your next car.
> 
> ...


Weight gain? How's that Uber's fault? Health costs? Join a gym, stop to get out of your car to stretch and move around, stop going through the drive thru and buy fruits and vegetables to snack on.... that's ALL on the driver, not Uber.


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## Crosbyandstarsky (Feb 4, 2018)

UberchickATL said:


> People don't look at the big picture as to how much ride share actually COSTS us as drivers. If you plan on driving full time, or close to full time, plan on about 50,000 miles per year. After 4 years, what's your $20,000 car with 200,000 miles on it worth (if your car even lasts that long)? Plus factor in all the repairs and maintenance during that time.
> 
> Oh and what lender will offer you a car loan when your main source of income is rideshare? Only predictor lenders so plan on paying a crazy amount of money for your next car.
> 
> ...


No. No one really makes money. You just need a new car that much sooner. It's like trading money for a piece of the car


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## oldfart (Dec 22, 2017)

touberornottouber said:


> I'm not sure what there is to disagree with. Take the cost of gas in gallons divided by your real mpg. That is your gas cost per mile. Remember though, that is EVERY SINGLE MILE and not just your paid miles though.
> 
> Tips. Meh. For most of us that is almost non-existent. Today for instance out of about $60 worth of rides $3.75 of that was a tip. Time pay? Meh. For most of us it is under 12 cents a minute. I guess oyu could add in tips for an extra 5-10% of your gross if you want. Time pay simply makes any calculations far more complex. Perhaps you can add on another 7-10% to your gross to compensate.
> 
> ...


I don't think anyone here "pretends" or "overlooks" anything. And I don't think anyone here is "ignorant"

Maintenance is the same for the third hundred thousand miles as the first and second hundred thousand. Check your owners manual for your schedules

Unexpected and unscheduled Repairs are another thing but they are not an expense until they happen. My car has 180000 miles on it and I've had only one $1000 incident so what's that? A half penny per mile. Maybe I'm lucky and chanced are my third 100000 miles will cost more than my first two. But I don't pretend that repairs won't no needed and I'm not ignorant of the fact that maintenance and repairs will be needed. And I don't think anyone is

Regarding accidents... that's what insurance is for

If you can't mske this work at 91cents a mile, you are doing something wrong. And I wonder why you keep it up


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## 1995flyingspur (Aug 18, 2016)

OldBay said:


> The key to making money on rideshare is being able to do the work yourself.
> 
> A 10K car, 2K in repairs, 150K miles. Make a dollar per mile.
> 
> ...


You really need to be able to do most of the mechanical work on your car. The car is your tool so learn as you go and every tool & piece of equipment purchased to make repairs will more than pay for themselves.

Just think about the trade of labor. Why would you pay someone $100/hour if you only make 1/5 of that? So if you pay a mechanic for 2 hours of labor to do your brakes, you will then have to work 10 hours just to pay for that repair.

If you don't know how to work on cars, you need to learn & there's an endless amount of info online to help.

Of course there are things we just can't do, like transmission work, but we can learn pretty much everything else & parts are plentiful on Amazon.


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## Merc7186 (Jul 8, 2017)

UberchickATL said:


> OK. Buy a car for $5,000. Don't forget to add interest if you get a loan. It will probably already have 100,000 miles on it. What's your car worth in 2 years with 200,000 miles on it? Again, if it even lasts that long. Plus all the repair costs?
> 
> No matter how much you buy a car for, you are paying a portion of your own wages from the depreciation of your car.


Why would I be concerned about the resale value of a car I bought as a beater in the first place?

I have had guys argue with me constantly about my depreciation, even though I tell them that I paid $4600 for my car with 10 years and 93k miles on it...there wasn't much to depreciate on it to begin with and isn't worth anything after two years.


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## Ozanjavci (Feb 4, 2019)

OldBay said:


> The key to making money on rideshare is being able to do the work yourself.
> 
> A 10K car, 2K in repairs, 150K miles. Make a dollar per mile.
> 
> ...


It can't be true. Because when you make $1 per mile your expense is close to 60 cents per mile plus traveling to the pick up location, so basically you are making 40 cents per mile! If you don't spend 60 cents per mile as a cost that means your car is not safe for traveling! And Should not be on the road!


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## oldfart (Dec 22, 2017)

Ozanjavci said:


> It can't be true. Because when you make $1 per mile your expense is close to 60 cents per mile plus traveling to the pick up location, so basically you are making 40 cents per mile! If you don't spend 60 cents per mile as a cost that means your car is not safe for traveling! And Should not be on the road!


If your expenses are 60 cents a mile you would do better with another car, or learn to add

My expenses are high but only half of that

13 cents gas
8 cents depreciation
3 cents maintenance and repairs
6 cents insurance

Total expenses are 30 cents a mile


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## OldBay (Apr 1, 2019)

1995flyingspur said:


> Of course there are things we just can't do, like transmission work, but we can learn pretty much everything else & parts are plentiful on Amazon.


Transmissions are not THAT hard to drop and replace with another from a junk yard.

Only thing I wouldn't attempt is engine swap.



touberornottouber said:


> I'm not sure what there is to disagree with. Take the cost of gas in gallons divided by your real mpg. That is your gas cost per mile. Remember though, that is EVERY SINGLE MILE and not just your paid miles though.
> 
> Tips. Meh. For most of us that is almost non-existent. Today for instance out of about $60 worth of rides $3.75 of that was a tip. Time pay? Meh. For most of us it is under 12 cents a minute. I guess oyu could add in tips for an extra 5-10% of your gross if you want. Time pay simply makes any calculations far more complex. Perhaps you can add on another 7-10% to your gross to compensate.


Try to understand.... base fare is a significant % of total fare, especially on short trips. Also, tips can increase earnings, in my case by 10%+.

Your calculations don't consider this.

I have a spreadsheet. Money earned, money spent on gas. I also track money spent on repairs.

I know how much extra money is in my bank account after expenses. I also know how much time I drove.

This doesn't include depreciation. If my car is worth 5K now and nothing in another 150k miles, that is a tiny % compared to the 100K+ earned over that same period. (Just 5%).

*Gas is 10%, depreciation is 5%, repairs are 5%.*

A good rough estimate is 20-25% of earnings go to expenses.

If you're doing it wrong:

*Gas is 20% (gas guzzler), depreciation is 20% (new car), repairs are 20% (dealer mechanic doing all work)*


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## touberornottouber (Aug 12, 2016)

oldfart said:


> If you can't mske this work at 91cents a mile, you are doing something wrong. And I wonder why you keep it up


Oh I can make it work but I realize that financially I would be better off working at Target. I'm honest about that. I'm not deluding myself (due to self esteem issues or something else) into thinking I'm making $24+ an hour after expenses and that my maintenance and repair expense is half a cent per mile, that my dead miles "don't count", that my accident risk in doing rideshare is "about the same" despite my driving 500% more than I would if I didn't do rideshare.

I've been in transportation since 2006 and with rideshare and taxi have at least 20,000 trips between the two. I've driven as a company driver, independent operator, lease driver, etc. I know what can happen out there and I know what keeping a vehicle on the road takes.

Find me one taxi driver or rideshare driver -- anyone here -- with over a decade of experience in transportation who believes repairs and maintenance only cost half a cent per mile or who thinks total costs of doing this are under 20 cents a mile. Go ahead. You won't be able to do it and there is a reason for that..... The people who think this tend to be new, inexperienced, and ignorant. Some are delusional. Others are fooling themselves to try to convince themselves that it is "worth it" (human nature). Rideshare forums are rampant with them. They come and go often disappearing after posting that "their car blew up" or "they had a accident and their vehicle was totalled". You then usually never hear from them again.



OldBay said:


> Transmissions are not THAT hard to drop and replace with another from a junk yard.
> 
> Only thing I wouldn't attempt is engine swap.
> 
> ...


You just joined the forum less than three months ago. One of your early posts suggests you just started doing LYft and Uber together recently. How long have you been doing this again?

If you are that new I don't think your spreadsheet really means much as far as estimating what your future costs are going to be (you might also be in for a rude awakening on revenue too soon but that is another topic). It only becomes accurate over the course of YEARS and really over having multiple vehicles.

You can drive a $5,000 car but I wouldn't count on your repairs only being 5% for long... Also when we are talking percentages realize that the lower the per mileage rate, the higher the percentage of costs will be.


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## OldBay (Apr 1, 2019)

touberornottouber said:


> Oh I can make it work but I realize that financially I would be better off working at Target. I'm honest about that. I'm not deluding myself (due to self esteem issues or something else) into thinking I'm making $24+ an hour after expenses and that my maintenance and repair expense is half a cent per mile, that my dead miles "don't count", that my accident risk in doing rideshare is "about the same" despite my driving 500% more than I would if I didn't do rideshare.
> 
> I've been in transportation since 2006 and with rideshare and taxi have at least 20,000 trips between the two. I've driven as a company driver, independent operator, lease driver, etc. I know what can happen out there and I know what keeping a vehicle on the road takes.
> 
> ...


I do all the work myself and have worked on cars for 25 years. If everything breaks on my car, I can't imagine parts costing more than 2K, let alone 5K. A used transmission from a wreck usually costs < 1K. If engine dies I would probably junk the car although i might attempt an engine swap.

The point is, costs are easy to estimate for someone who does all the work.

*Gas cost is "upfront" and instantly known.
*Depreciation is value of car when you start rideshare, assuming you drive it into the ground and get nothing for it.
*Repairs are the cost of parts. (I can add up every accessory, every suspension component, every sensor, every injector and still not get above 2K in parts. But lets assume the ****** goes and that adds 3K)

I agree, rideshare may make ZERO sense for many people. If you are in a .60/mi market, are driving anything more than a 5K car, and cant do the work yourself, then you could get screwed.

I agree, rides get harder after the honeymoon and during summer. I'm not making tons of money, but my costs are not going to spiral out of control and force me into a McJob either.


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## OldBay (Apr 1, 2019)

Another big thing to consider is that this is a 1099 job. Earnings largely tax free.

When comparing part time McJob to part time Uber, the tax difference is not that great, but FT to FT comparison, rideshare gets an advantage.

Also, rideshare "travel expenses" are part of the job, they are extra when you work a traditional job. Plus commute time, which means that 50 hours of rideshare is equal to 40 hours of traditional job. Less clothing and food expenses than a traditional job.

Benefits? I bet there is subsidized health insurance or low rate plans for low earners if you plan to make a career of ubering.

If someone is very thrifty and can work on cars, and have done the math, rideshare might work for them. Its working for me right now.


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## Syn (Jun 30, 2017)

Kenster said:


> 2 hours out, 2 hours back = 4 hour trip. Making $30 per hour. Where's the loss? You used to making more than that?





rideshare2870 said:


> 15k for a new car? What do you have? My guess is a compact car?


Toyota Yaris. Best buy ever. Easy to park in downtown, $18 to fill it up, 120,000+ miles of oil changes only.


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## rideshare2870 (Nov 23, 2017)

Syn said:


> Toyota Yaris. Best buy ever. Easy to park in downtown, $18 to fill it up, 120,000+ miles of oil changes only.


I believe it. I bought a similar car which is a Toyota Corolla (2nd Corolla in my life) this year. I don't know why people are concerned about ratings when you drive compact cars. They're one of the few cars that makes sense for the rates of this gig.


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## UBER.1 (Jun 18, 2019)

BigRedDriver said:


> First mistake. $20K car.


I got me a lease. My regular car stays home. I will simply return and get a new one after.


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## OldBay (Apr 1, 2019)

How can a lease make sense?

10k a year, could buy a car for that.

I hear they cover lease if you make 120 trips a week. Would need to drive 70 hours in my market to make that. Talk about indentured servitude!

Forced inner city anting!


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## rideshare2870 (Nov 23, 2017)

Leasing doesn’t make sense for U/L either. I would still consider it a debt since you owe something to somebody at the end of the month. It’s not too different from financing when you look at it that way.


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## Tnasty (Mar 23, 2016)

I worked seven days a week and made daily payments on the car .I paid it off in a year and a half.


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## Syn (Jun 30, 2017)

rideshare2870 said:


> I believe it. I bought a similar car which is a Toyota Corolla (2nd Corolla in my life) this year. I don't know why people are concerned about ratings when you drive compact cars. They're one of the few cars that makes sense for the rates of this gig.


For some reason some drivers actually care how much legroom paxs have. I'm not one of them. I care about my profit. Less money that I spend to run a business = more money in my pocket.

Recently I had a driver telling me how his paxs are so much happier since he bought a Jeep Grand Cherokee compared to Mitsubishi Lancer that he drove previously. He said they tip more. I asked him do they tip more enough to cover the difference in price and gas mileage between Grand Cherokee and Lancer. He quickly shut up.


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## Jamesmiller (May 8, 2017)

touberornottouber said:


> Oh I can make it work but I realize that financially I would be better off working at Target. I'm honest about that. I'm not deluding myself (due to self esteem issues or something else) into thinking I'm making $24+ an hour after expenses and that my maintenance and repair expense is half a cent per mile, that my dead miles "don't count", that my accident risk in doing rideshare is "about the same" despite my driving 500% more than I would if I didn't do rideshare.
> 
> I've been in transportation since 2006 and with rideshare and taxi have at least 20,000 trips between the two. I've driven as a company driver, independent operator, lease driver, etc. I know what can happen out there and I know what keeping a vehicle on the road takes.
> 
> ...


He is right and wrong, when you factor diy repairs, vehicle ownership, and a 15-25 yr vehicle replacement with average 25-40mpg(paid for within 2 yrs) then he would be right. Most ubers situation isnt like that and uber requires replacement which makes the cost close to 60cent.

Been in the industry over a decade and doing all types of taxi. Once you own the taxi you acquire the cost and uber guideline isnt cost affective


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