Author Topic: How is it driving for uber?  (Read 3981 times)

Fightingfungus

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How is it driving for uber?
« on: November 28, 2016, 12:53:07 PM »
     I am in the Chicago land area and drive a minivan. The rates are 90 cents a mile and 20 cents a minute which uber takes 25%. I have a solid full time job, and would be driving Friday and Saturday nights to fully fund my IRA and help pay for my bachelor's degree.


   To the people who have done it? Is it worth it?

   How much did you average hourly?

   Would you do it again?

aschmidt2930

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Re: How is it driving for uber?
« Reply #1 on: November 28, 2016, 05:15:15 PM »
     I am in the Chicago land area and drive a minivan. The rates are 90 cents a mile and 20 cents a minute which uber takes 25%. I have a solid full time job, and would be driving Friday and Saturday nights to fully fund my IRA and help pay for my bachelor's degree.


   To the people who have done it? Is it worth it?

   How much did you average hourly?

   Would you do it again?

There's a lot of factors, I.e mpg, car value (depreciation), but my experience found it wasn't worth it. My numbers said I didn't even make minimum wage when it wasn't a surge. If there's huge surges going on you'll do ok, although actually getting the huge surges is tricker than you'd think.

Fightingfungus

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Re: How is it driving for uber?
« Reply #2 on: November 28, 2016, 06:12:44 PM »
     I am in the Chicago land area and drive a minivan. The rates are 90 cents a mile and 20 cents a minute which uber takes 25%. I have a solid full time job, and would be driving Friday and Saturday nights to fully fund my IRA and help pay for my bachelor's degree.


   To the people who have done it? Is it worth it?

   How much did you average hourly?

   Would you do it again?

There's a lot of factors, I.e mpg, car value (depreciation), but my experience found it wasn't worth it. My numbers said I didn't even make minimum wage when it wasn't a surge. If there's huge surges going on you'll do ok, although actually getting the huge surges is tricker than you'd think.

Do you think it's worth it if I only do it on Fridays and Saturday 9pm to 5pm? How much does your hourly rate have to be to make it worth it?

minimalist

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Re: How is it driving for uber?
« Reply #3 on: November 30, 2016, 03:18:31 PM »
I averaged $15 an hour after expenses on 60 rides (there's a lot of demand in DC), but I stopped because I don't think it's worth it for me (I make almost 5x that at work). That said, it's not bad for a side gig if you're in a city with decent demand and you can set your own hours.

Bicycle_B

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Re: How is it driving for uber?
« Reply #4 on: November 30, 2016, 03:31:07 PM »
In another city, I spoke with someone who had been interviewing multiple Uber drivers to answer the same question.  His conclusion: certain times and places were worthwhile, others were not. 

He basically said that driving to work or the airport at the start and end of the workday from certain neighborhoods was good, and also party hours on weekends, but not middle of the day on any day. 

pdxvandal

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Re: How is it driving for uber?
« Reply #5 on: November 30, 2016, 08:22:03 PM »
It's OK. I moved across the country without a job, so to have at least something providing a little income is nice and it's helped me learn to navigate the area.

Pros:
- Flexibility, work when you want -- by far the best thing
- Surge pricing, if you can hit it (yes, tricky and sometimes unpredictable or not long-lasting)
- People -- most are pretty cool, interesting and some give OK tips (I got $40 once for a half-mile ride)
- Tax deductions -- take the standard mileage deduction or itemize car registration, tires, repairs, gas, etc.

Cons:
- Overly drunk people on occasion
- Drivers don't know where the rider's destination is ... last weekend, I was doing "one last pickup" thinking it would be in my home area, but I drove 25 miles one way (50 round trip) late at night ... and that 25 miles back was not "paid"
- Wear and tear on your car
- It can be distracting using the app while driving

For the past two months, I've driven in a small, but touristy/boozy town. The good thing is, there's not much traffic to tie me up. If you're not moving, you're not making money. (I wouldn't want to Uber in a large city.) Plus, I bought a Prius for $3,200 with tons of highway miles, but still drives fine. I wouldn't use a 15-30k car for Uber, but that's just me. Earnings are hit and miss and definitely tough to make much during the day (but it's something). I've generally made between $15-25 per hour, but that doesn't include self-employment taxes, which I've yet to figure out.

I may not do it forever, and only have been Ubering for about 8 hours per week, but appreciate the opportunity in the current mostly jobless situation I'm in. I actually prefer Lyft as a company and from rider experience, but it's not here (yet).
« Last Edit: November 30, 2016, 08:26:53 PM by pdxvandal »

Fightingfungus

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Re: How is it driving for uber?
« Reply #6 on: December 02, 2016, 01:07:28 PM »
It's OK. I moved across the country without a job, so to have at least something providing a little income is nice and it's helped me learn to navigate the area.

Pros:
- Flexibility, work when you want -- by far the best thing
- Surge pricing, if you can hit it (yes, tricky and sometimes unpredictable or not long-lasting)
- People -- most are pretty cool, interesting and some give OK tips (I got $40 once for a half-mile ride)
- Tax deductions -- take the standard mileage deduction or itemize car registration, tires, repairs, gas, etc.

Cons:
- Overly drunk people on occasion
- Drivers don't know where the rider's destination is ... last weekend, I was doing "one last pickup" thinking it would be in my home area, but I drove 25 miles one way (50 round trip) late at night ... and that 25 miles back was not "paid"
- Wear and tear on your car
- It can be distracting using the app while driving

For the past two months, I've driven in a small, but touristy/boozy town. The good thing is, there's not much traffic to tie me up. If you're not moving, you're not making money. (I wouldn't want to Uber in a large city.) Plus, I bought a Prius for $3,200 with tons of highway miles, but still drives fine. I wouldn't use a 15-30k car for Uber, but that's just me. Earnings are hit and miss and definitely tough to make much during the day (but it's something). I've generally made between $15-25 per hour, but that doesn't include self-employment taxes, which I've yet to figure out.

I may not do it forever, and only have been Ubering for about 8 hours per week, but appreciate the opportunity in the current mostly jobless situation I'm in. I actually prefer Lyft as a company and from rider experience, but it's not here (yet).


What would you say is your average hourly rate before and after expenses?

aschmidt2930

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Re: How is it driving for uber?
« Reply #7 on: December 02, 2016, 03:51:27 PM »
     I am in the Chicago land area and drive a minivan. The rates are 90 cents a mile and 20 cents a minute which uber takes 25%. I have a solid full time job, and would be driving Friday and Saturday nights to fully fund my IRA and help pay for my bachelor's degree.


   To the people who have done it? Is it worth it?

   How much did you average hourly?

   Would you do it again?

There's a lot of factors, I.e mpg, car value (depreciation), but my experience found it wasn't worth it. My numbers said I didn't even make minimum wage when it wasn't a surge. If there's huge surges going on you'll do ok, although actually getting the huge surges is tricker than you'd think.

Do you think it's worth it if I only do it on Fridays and Saturday 9pm to 5pm? How much does your hourly rate have to be to make it worth it?

From 9 am to 5 pm or 5 pm to 9 pm?  You'll do much better with the latter, generally, the lasting surges are on Friday and Saturday nights.

By my calculations, nothing under 30 an hour (revenue, not net) was worth it for me.  When I was hitting the surge rides it was pretty doable, otherwise, I'd typically I'd end up under that by quite a bit.

One factor I think many drivers ignore (somebody else mentioned it in this thread) is the tax implications.  If you're in a decently high tax bracket, it can get ugly.

Tjat

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Re: How is it driving for uber?
« Reply #8 on: December 02, 2016, 03:59:00 PM »
Don't forget that most insurance policies exclude any sort of livery service, which may include all times when the app is on. I don't believe the Uber provided insurance is particularly good