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Why the hell would anyone drive for Uber or Lyft?

Posted on 11/8/19 at 12:19 pm
Posted by airlinehwypanhandler
Airline Highway
Member since Feb 2019
2130 posts
Posted on 11/8/19 at 12:19 pm
I was in Chicago and I swear every other car I saw had an Uber/Lyft sticker on there.

I don't see the appeal. From what I understand driving for Uber/Lyft is pretty much taking out a home equity line of credit but on your car. You are simply borrowing against the equity in your car - which you will have to pay back later in terms of repairs, maintenance, tires, etc. No way does Uber/Lyft pay enough to where you come out ahead in the long run.
Posted by TigerWise
Front Seat of an Uber
Member since Sep 2010
35132 posts
Posted on 11/8/19 at 12:19 pm to
To put food on the table
Posted by RLDSC FAN
Rancho Cucamonga, CA
Member since Nov 2008
61011 posts
Posted on 11/8/19 at 12:20 pm to
Some people do really well. Some do it as a side job.
Posted by LSUJML
Central
Member since May 2008
56848 posts
Posted on 11/8/19 at 12:21 pm to
Sometimes people do what’s needed to get by in order to provide for their kids
Posted by FearTheFish
Member since Dec 2007
4556 posts
Posted on 11/8/19 at 12:22 pm to
quote:

No way does Uber/Lyft pay enough to where you come out ahead in the long run.
Well that simply isn't true.
Posted by Koach K
Member since Nov 2016
4818 posts
Posted on 11/8/19 at 12:22 pm to
Because they need a payday loan basically. Sad really. Wear and tear on the car alone is why the economics aren’t there for most drivers with exception of some urban areas.
Posted by airlinehwypanhandler
Airline Highway
Member since Feb 2019
2130 posts
Posted on 11/8/19 at 12:23 pm to
quote:

To put food on the table



But when its time to pay the piper in terms of repairs, maintenance, and all of that - how will you then put food on the table? I see it as a net loss.

Apparently the rates in New Orleans is $0.68 a mile. Federal tax calculators estimate wear and tear on a car is $0.58 a mile - so if you profit $0.10 a mile - that means for every 10,000 miles you drive you are profitting $1,000.

I don't see how that is worth it
Posted by 777Tiger
Member since Mar 2011
93541 posts
Posted on 11/8/19 at 12:24 pm to
quote:

No way does Uber/Lyft pay enough to where you come out ahead in the long run.


quote:

Well that simply isn't true.


serious question, what are the financial arrangements? I've had nothing but positive experiences with both, and they are dirt cheap for the most part
Posted by LegendInMyMind
Member since Apr 2019
76105 posts
Posted on 11/8/19 at 12:24 pm to
I would just do what Carl on Shameless did.
Posted by SeeeeK
some where
Member since Sep 2012
30763 posts
Posted on 11/8/19 at 12:24 pm to
every article i read about driving for both or either claimed it is a losing proposition in the end
Posted by Pelican fan99
Lafayette, Louisiana
Member since Jun 2013
39644 posts
Posted on 11/8/19 at 12:24 pm to
It doesn’t make any sense to me and I would never do it but glad someone does




Uber is a total game changer
Posted by TigerWise
Front Seat of an Uber
Member since Sep 2010
35132 posts
Posted on 11/8/19 at 12:26 pm to
quote:

But when its time to pay the piper in terms of repairs, maintenance, and all of that - how will you then put food on the table? I see it as a net loss.


Takes $ to make $


quote:

Federal tax calculators estimate wear and tear on a car is $0.58 a mile - so if you profit $0.10 a mile - that means for every 10,000 miles you drive you are profitting $1,000.


The Fed is full of shite. Not all cars have the same cost to operate.
Posted by JohnnyKilroy
Cajun Navy Vice Admiral
Member since Oct 2012
41894 posts
Posted on 11/8/19 at 12:29 pm to
quote:

It doesn’t make any sense to me and I would never do it but glad someone does


Yep. I love that it exists, but financially speaking it really shouldn’t exist.

Uber eats is even shittier. Saw some baw record his first few days doing uber eats and vlogged it on YT. Poor dude worked like 8-10 hours and cleared like 50 bucks before gas expense.
Posted by airlinehwypanhandler
Airline Highway
Member since Feb 2019
2130 posts
Posted on 11/8/19 at 12:32 pm to
quote:

Uber eats is even shittier. Saw some baw record his first few days doing uber eats and vlogged it on YT. Poor dude worked like 8-10 hours and cleared like 50 bucks before gas expense.



What did he expect? You're talking about delivering food to people who are so lazy they can't take the short trip to the closest McDonalds that is less than a mile away
Posted by Aubie Spr96
lolwut?
Member since Dec 2009
44829 posts
Posted on 11/8/19 at 12:44 pm to
quote:

financially speaking it really shouldn’t exist.



Did they stop teaching economics? If we are talking about things that shouldn't financially exist, lets talk about ethanol or domestically produced sugar.
Posted by dgnx6
Member since Feb 2006
91643 posts
Posted on 11/8/19 at 12:52 pm to
quote:


But when its time to pay the piper in terms of repairs, maintenance, and all of that - how will you then put food on the table? I see it as a net loss.



I don't understand this thinking. I drive 80 miles for work, sometimes more.

If you are driving 80 miles in new Orleans you've done about 20 trips and made more money in that day than I have.

And not sure what extra maintenance I've needed other than more gas. And I still only need to change my oil once a year.

I guess new tires? But then again I just got new ones a few months ago, 5 years after buying the vehicle.

This post was edited on 11/8/19 at 12:56 pm
Posted by JohnnyKilroy
Cajun Navy Vice Admiral
Member since Oct 2012
41894 posts
Posted on 11/8/19 at 12:54 pm to
You drive 80 stop and go city miles per day?
Posted by dgnx6
Member since Feb 2006
91643 posts
Posted on 11/8/19 at 12:58 pm to
quote:

You drive 80 stop and go city miles per day?




On the way home to Nola, the traffic is pretty shitty in the afternoons.

Morning drive is a breaze.

But still, what more maintenance would I need if I was doing a few trips in the city at night? A lot of people have it as a second job.

I wouldn't do it, just because I don't like strangers. But you don't have to have any experience, don't have to have a resume, no interviews, no dress code, no going into an office. It's an easy job to land.

This post was edited on 11/8/19 at 1:04 pm
Posted by saderade
America's City
Member since Jul 2005
26502 posts
Posted on 11/8/19 at 1:01 pm to
You could definitely drive for big events in the city and do well as side gig. But driving regularly it probably wouldn’t be worth it.
Posted by bad93ex
Walnut Cove
Member since Sep 2018
36754 posts
Posted on 11/8/19 at 1:02 pm to
I did it for about a year and yes it is a losing proposition if you want to do it full-time. Now it is a fantastic way to lower your tax burden and possibly make some extra coin out of your daily commute to work.

Uber allows you to only take rides that will get you on your way to your destination whether it is home or work. So what you can do then is flip the switch on for Uber and configure the system to only give you rides that are on your way. You are then on the clock and those miles that you drive can be used as an expense at the rate that is allowed by the government.
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