-
Reality check: Thinking about doing Uber or Lyft?
Say one starts out with a brand new vehicle. A typical new vehicle, with care, should get about 300,000 miles in it’s lifetime. A driver can typically do about 200 miles a day on average. Saying avg 25 mpg.
Being exact on isn’t going to matter as you’ll see.
So roughly…
300,000/25 mpg = 12,000 gal at $3.25 = $39,000 for gas
$48,000 for the vehicle
Insurance 4 years at $2500 year $10,000
Phone $125 month x 12 X 4 = $6000
Oil changes 300,000/6000 x $200 = $10,000
Other maintenance/tires $10,000
Washes and details $5 day x 365 x 4 = $10,000
Taxes $5,000 year x 4 = $20,000
Say $150,000 in business costs over the life of a typical car or van. Or $37,500 a year for 4 years.
300,000 miles divided 4 years is 75,000 miles a year.
75,000 miles a year (205 a day/365 days a year or 288 miles a day at 5 days a week) at $1 per vehicle mile minus costs is $37,500 year profit.
Now to save for the next $48,000 vehicle divided by 4 years is $12,000 a year to save for that one only has $25,500 to live on per year.
Boom sustainable. But…
Uber and Lyft don’t pay anywhere close that a driver can make $1 per vehicle mile. They don’t even pay enough that a driver can earn $1 per trip mile. 😆
They don’t pay for miles between trips or what it takes to come back. 😆
-
6 Replies
-
One gets flooded with garbage like this and declining them one gets penalized. 🙄
-
Your right I been doing uber for a yr and half I don’t even come close to a dollar a mile I drive 200 to 400 miles a night my car is 2021 nissan versa I bought it a yr ago payments for 4 yrs becouse of credit iam paying 21,000 for a car you can buy brand new for 17,000 I owe 3 more yrs in a yr and half I only can make minimum payments when I got the car it had 50,000 miles on since driving for uber I put 61,000 miles on it in a yr and half still owe 19,200 no equity in it can’t trade in becouse of that and don’t have the 5,000 they want down for a new car .icant do labour jobs anymore becouse of major back surgery this is the only job I can do that don’t affect it . And I didn’t file taxes last yr so I’ll be penalized for that .I didn’t file intentionally but I worked for 6 months last yr so I probably will be in further debt when I file this yr .uber is only paying us 30% and keeping 70% I asked uber passengers several times what they paid uber and it was right down to 70 30 .iam already in debt becouse of uber but what do we do when you can’t work any other job and idont make enough on disability to live expensive in fla cheap low wages .I wish we could all in different states start a union we all work hard and give great customer service to customers and I accept everyride what do we get in return plus 60%don’t even tip
-
Desk job, since you can drive.
Minimum wage and not burning out your vehicle.
Sounds like a plan?
-
By now you should understand the mentality of an Ant. They always look at the bigger picture. With that $2.76 they can buy 2 one dollar scratch offs, hit for $20, put $10 in the gas tank, spend $10 on a pack of cigarettes, and give the remaining .76 to a homeless person just to get more good luck. They believe in trying to make a dollar out of fifty cents.
-
-
Too bad most of the new drivers don’t speak English. This would really help them.
-
Okay mathematics aside, let’s see the physical danger of doing business with these gig companies.
As a news aggravator I see lots of articles where poor drivers and couriers just trying to make some much needed money are being shot, killed, robbed, raped and assaulted by customers or in situations they inadvertently walked into.
Don’t believe me?
Just check through the News forum on this site.
This gig job isn’t worth your life or being permanently disabled for the chump change they are giving.
The general public is 90% nice and okay, it’s that 10% that’s the problem. The only saving grace is most of the baddies come out at night.
Log in to reply.
