Is Being An Uber Driver Worth It?

[youngsteinel]

So I got to thinking about Uber drivers and how much they make. Immediately I thought of money you make vs. car depreciation + gas expenses. I didn't feel like doing any calculating but it seems that Uber's marketing campaign is extremely disingenuous when you take into account car depreciation. Any opinions on this? FYI, I am NOT looking to become an Uber driver, was just simply pondering how much they make.

Source:
https://features.wearemel.com/how-m...ur-car-s-depreciation-ef66d8d3204b#.tqpqvcbux

 

[Bobby Boulders]

Most of the drivers I talk to say it's easy money and they enjoy doing it.

 

[SFMMA]

They don't make as much as they used to. Uber slowly increases the rate they take from drivers while decreasing passenger fares and thus narrowing the margin.

But, the drivers get to make their own hours, listen to whatever they want on the radio, chat with new people, and not work with that annoying fat, single bitch two cubes down that always is taking about being fat and single.

 

[hbdope]

I took an uber ride in LA a few weeks ago and asked the driver how much he made per day. He told me about $300/day but he said he works 80 hours a week.

Also know an EMT who drives lyft as supplemental income. He made about 1500 in 3 months doing it part time (mainly weekends).

 

[Bobby Boulders]

They don't make as much as they used to. Uber slowly increases the rate they take from drivers while decreasing passenger fares and thus narrowing the margin.

But, the drivers get to make their own hours, listen to whatever they want on the radio, chat with new people, and not work with that annoying fat, single bitch two cubes down that always is taking about being fat and single.

If they are a hot chick they might be able to make a secondary job out of it too.

Know what I mean?

 

[xbone19]

If you're making $600 a week in a 9-5

You should try UBER for sure you can easily make about the same or way more if you want to drive all day.

 

[youngsteinel]

If you're making $600 a week in a 9-5

You should try UBER for sure you can easily make about the same or way more if you want to drive all day.

Is this taking into account car depreciation + gas costs. I find it hard to believe you will end up making much unless you are driving around a car that is worth $5000 or less

 

[hbdope]

The only way I'd drive uber is with a Prius (or other hybrid). In the tax form you can only claim either standard mile depreciation (0.57 per mile driven) and add on things you buy for the job or actual expenses which include gas, auto repairs, etc. But you can't do both std depreciation and actual expenses. If I got gas for 2.65 on my Prius and calculated cost per mile (Prius ride calculator does it for you), it's costing you pennies per mile driven in gas. You just need to calculate the other things like new tires, oil changes, etc. But I think of you drive a hybrid with excellent gas mileage, taking the standard depreciation at $.57 per mile you will be okay. It's not a great job but I'm pretty sure the uber fleet doesn't consist of people with high levels of education.

 

[usfbrah]

I new an uber driver that just uses a rental and he does it full time. He said he loved it

 

[BJ@LW&WW]

being a part time uber driver and only driving at peak payment times sounds like a good way to make extra cash when you have nothing else more important/enjoyable to do with your time.

to be a full time uber driver... i cant imagine you make much money for your time. and its sad the people who take out loans for cars through uber and then they lower the payment rates after the fact lol.

its definitely a good marketing machine, both on the user side and the employee side.

 

[Lethal]

There's not as much money to be made as there was back in 2014/early 2015 but as a part time gig it's not too bad. It's definitely not a job that you can rely on to work full time. Uber constantly lowers the rates as mentioned above. Their main goal is to kill the Taxi industry.

 

[youngsteinel]

being a part time uber driver and only driving at peak payment times sounds like a good way to make extra cash when you have nothing else more important/enjoyable to do with your time.

to be a full time uber driver... i cant imagine you make much money for your time. and its sad the people who take out loans for cars through uber and then they lower the payment rates after the fact lol.

If you look at the tables I posted above, it seems on face value that they make a lot of money upfront, but just taking gas into account it seems that an Uber driver in L.A. will make $8 an hour.

 

[Da Speeit]

I just bought a car with 27k miles on it, full warranty in tact, so i'm deciding whether or not to do uber in the summer when my job slows down. my 3 year is up at 36k. hmm.

 

[hbdope]

If you look at the tables I posted above, it seems on face value that they make a lot of money upfront, but just taking gas into account it seems that an Uber driver in L.A. will make $8 an hour.

If cost per mile is $.48 but the standard mileage deduction is $.57, how are you only making $8 per hour driving a Prius on uber x?

 

[Lethal]

I just bought a car with 27k miles on it, full warranty in tact, so i'm deciding whether or not to do uber in the summer when my job slows down. my 3 year is up at 36k. hmm.

Doing it part time when you have another job is ok for some extra money.

It also depends on what the rates are in your city. Where I live it started off at $1.50 per mile and eventually dropped down to 90 cents per mile. Pretty much why I quit. The market is also over saturated here, in South Florida we have more drivers than riders.

 

[Da Speeit]

Doing it part time when you have another job is ok for some extra money.

It also depends on what the rates are in your city. Where I live it started off at $1.50 per mile and eventually dropped down to 90 cents per mile. Pretty much why I quit. The market is also over saturated here, in South Florida we have more drivers than riders.

I meant the mileage on the car. But yeah you right.
I work on the strip, so if i start getting off at like 11 and driving for 3 hours, that would be cool

 

[Prefect]

The people I know who do it, do it because it is a flexible gig to fill in dead time or work around family responsibilities. It isn't a lot of money.

 

[Lethal]

I meant the mileage on the car. But yeah you right.
I work on the strip, so if i start getting off at like 11 and driving for 3 hours, that would be cool

Oh yeah, mileage will for sure go up like crazy. I only did it for like 10 hours a week in 2014 and my cars mileage still went up like crazy. Overnights on the strip should definitely bring in decent money, especially if there's a surge.

 

[youngsteinel]

If cost per mile is $.48 but the standard mileage deduction is $.57, how are you only making $8 per hour driving a Prius on uber x?

It's in the table on the OP. Maybe the numbers are incorrect

 

[Sir Galahad]

So I got to thinking about Uber drivers and how much they make. Immediately I thought of money you make vs. car depreciation + gas expenses. I didn't feel like doing any calculating but it seems that Uber's marketing campaign is extremely disingenuous when you take into account car depreciation. Any opinions on this? FYI, I am NOT looking to become an Uber driver, was just simply pondering how much they make.

Source:
https://features.wearemel.com/how-m...ur-car-s-depreciation-ef66d8d3204b#.tqpqvcbux

My friend drives full-time for both Lyft and Uber. She prefers Lyft but it's personal preference. It's worth looking into.