All they are taking into consideration is gas and thier immediate maintenance. There are so many other costs. Ever mile you drive your car is depreciating. Tires, struts, oil changes. Transmission fluid change. Ball joints, tie rods, wheel bearings. Brakes. Car washes. Insurance. Get in an accident while driving UBER and see what happens to your rates.
FYI, the .55 a mile is supposed to include car payments and insurance. It’s the IRS estimate of the full cost of driving/owning/maintaining a vehicle divided per mile for the lifespan of the vehicle.
I have always wondered about that number, since the span of cars on the road have such a wide variance in drivable miles and the cost of repair/insurance over those miles. Not to mention that it’s a nationwide number in a country where gas prices can vary by a half-dollar or more state to state. It’s a pretty crude estimate.
Id guess that if a driver can’t operate his UberX vehicle for, let’s say 40 cents a mile or less, he’s obviously driving the wrong vehicle. It’d be akin to a carpenter arriving on site with only a screwdriver, and then complaining it does a really bad job hammering nails.
I’d also guess that in large cities, a little market research and preplanning would be able to drop deadhead miles a little below the 50% mark. Getting them down to even 45% would make a big difference.
I’m pretty much banking on my 2004 Honda Civic EX still having a long life ahead of it at 133,000 miles and continuing to have at least 30 mpg. Of course the stop and start city streets mileage throws that all to hell, I’m aware, and my insurance is until a few tickets time out. Ah well.
I should also point out I have an XL/Plus van and that I have 763 completed Uber trips and around 1150 Lyft. So obviously my experience isn’t directly in line with what an UberX-only driver in Boston may experience. I can tell you I have no Uber deposits over $1000, but the majority of my Lyft deposits are over that mark.
I found that very suspect, too. I drive 40 hours a week and barely crack 1000 total miles, paid or unpaid. And I have to commute 20 miles each way into city 3 days a week.
Nope. In car 40 hours-ish. Online at home (not driving, but available if the rare request comes in) between 10-15 hours. Mon thru Thu online at home 7am-12pm. go to city from 2pm-11pm Thu, 1pm-3am Fri and every other Sat. If I’m not at 50 hours each week I turn app on Sat/Sun additional hours at home to get the bonus.
Those numbers are strange. If accurate, it would be an example of horribly inefficient use of car and driver on Uber’s part. OP does need to realize if they take the .57/mile, that is all the deductions they get.
I work one day a month on a weekend for 10 hours and take in between 150 to 250 before expenses. Moving to another state and just keeping the account active. At $1.00 a mile and Uber taking 20% there isn’t much profit. Any short rides are a lose. $3.20.
In Houston I have seen since about April my actual profit per hour (I track that too) go down and down. My vehicle expense is about 33 cents per mile. That’s all miles, whether ubering or not. I also deliver pizza and commute to a “real” job. I deduct medical visits, drive to charity work, and from one job to the other mileage as well. Those are not the same rate but it all adds up.
I can’t believe you would ask that question if you drove. You car doors opened and closed 40 times in a day. People sliding in and out of your car 40 times a day. Tough on interior. Stop and go driving is harder on a car.
At current rate I’m closer to 40k annual miles, not 50k. I account for maintenance as it happens. Yes I have funds set aside for up to $2k in maintenence/repair. Anything over that the van gets traded/scrapped as I only paid $7k for it.