This is one of the main questions that surrounds Uber and all rideshare driving. What does an Uber ride cost? It should be easy to answers since it is not rocket science, it is straightforward mathematics in an accountancy situation. So, I decided to review this question in depth for you and provide you with a competing answer.
Uber cost varies depending on what part of the country do you live in. Chances are if you live in a metropolitan city or close to it, your Uber cost will be higher compared to someone living 30 - 40 miles away. The difference in fare cost could be as large as 20% - 30%.
Other factors that influence the Uber ride cost are the time of the day, weekends, events, driver availability. These type of costs shows up in “surge pricing” charge because of these factors are influenced by the demand and supply at the time of Uber ride request.
An Uber fare consists of base fare, long pickup fee (after certain time threshold, approx. 10 minutes, per minute and mile fees are added to the fare), booking fee, per minute and per mile rate. Uber also sets a minimum fare in each region, that means that if the total cost of the trip drops below the minimum set fare then minimum fare is charged to the riders.
Base fare is similar to the taxi meter drop rate.
Here is the calculation:
[(base fare + per minute rate * total time + per mile rate * total distance) * surge multiplier] + booking fees + toll
These fares will different based on the Uber category you choose, so if you opt for UberX you will get the lowest private car fee, if you go for ExpressPOOL you will pay the lowest public ride type and if you live in a city with UberLux you will pay a fortune to ride in a fancy car.
The main factor in a ride is the mileage; this is what costs you more than time. Drivers prefer long rides that are traffic free to maximize income and dread slow drives with short distances due to traffic.
Booking fee usually covers insurance, background checks, credit card fee and other misc. charges.
Yes, the base fare for taxi's always starts out higher than Uber's since Uber makes sure that their base fare is lower in every city. The rates are also lower; however, this is only true for UberX and UberPOOL, all the rest are the same or more expensive, especially the more luxurious rides such as UberBlack or UberSUV.
Here is an updated quote for a ride of 18.7 mi, 42 mins from Brooklyn, NY, USA to Bronx, NY, USA
- UberX $58.08
- Lyft $53.35
- Taxi $66.70
- UberBlack $112.56
As you can see, UberX and Lyft are both cheaper than a taxi. However, the UberBlack is more expensive.
Generally, there is a slight difference in favor of Lyft. I found that LyftLine is the cheapest option available for a door to door ride.