Want to become Uber driver, some advice please

Hi folks. I’m considering driving for Uber or Lyft in the next month and when I asked a forum the questions below, one person told me to ask my questions here. Thanks in advance:

I just came back from a multi city trip where I used Uber quite a bit. I find myself always asking the drivers how they like it and although some do say things like ‘it used to be better’ or ‘they keep cutting our share’, overall I’d say drivers respond very positively. I hear a lot of ‘i love driving for Uber’ or ‘its great’ or ‘i just come out and make a little money anytime I want to get out of the house’ etc…

I often have daydreams about quitting my stressful job and going to earn money as an Uber driver. I think I’m ready to try it out and see how I like it before jumping fully into it. I believe Uber requires a car that is 10 years or newer and my newest vehicle is just inside that range. But I also heard that Uber leases cars to it’s drivers… Would doing this be a great idea or a terrible one?

I’ve seen YouTube videos claiming that after all expenses are considered, driving for Uber isn’t worth it or even costs drivers more than they make. But I find it hard to believe SO MANY drivers are so bad at calculating expenses that they’d be happy to be driving for not much profit or even possibly a loss.

Do you think leasing a car from Uber and working as an Uber driver would be a valid way to make a reasonable living? Or would it, at best, be just good enough to make some side money?

After expenses, I realize a solid $10/hr. ($20k/yr.)- and I’m not really following the good advice. I drive empty a lot, I eat at diners, and I avoid “surge” areas (where the pay is better, but the customers are suckier).
Believable others are reporting more in the $20/hr. ($40k/yr.) range.

helpful reference to have. I’d probably go for easier customers in non-surge areas too. I’m looking for low stress and I enjoy driving and talking to people.

I often think about doing it full time also but at this point I don’t think it would be good for me. I need to bring home after taxes at least 800 a week to be able to cover living expenses.

Bro you gotta talk to a tax attorney and cpa. I paid 4% taxes on my total income. The difference between a w2 job and 1099 is this. W2 you work, you pay taxes on your check, you get paid, then you pay your bills. With 1099 you work, you get paid, you pay your bills, then you pay taxes on what is left.

Someone suggested that you troll this group? How nice of them.

When I have riders ask this I never say anything negative, as I’m beholden to the bullshit rating system that’s been created.

Pay and demand are market specific. This is a side gig (either between jobs or supplemental income). Roughly a quarter of drivers turn over every 3 months and only 4% maintain being active drivers after one year.

I’ve thought about this too but I feel you would really have to bust your ass to make a good living with Uber full time. I also worry about the longevity of it as a career. Plus if you ever have an issue that takes away your car or account for a week or so what will you do? I figure it’s best as an extra part time gig for myself.

I walked away from my fulltime job over a year ago. I have been driving for uber for now 15 months. The way i have made it work is addressing all these issues people here are saying. For example how to offset the expenses you have to pay, how to owe less in taxes from doing uber, how to prepare for if you have a situation where you car breaks down, and recently found a way I am able to increase my profits with every ride. I made after fees over $20k for an average of 15 hours a week. Just so you can see one example how I separate myself from the rest. When it comes to tracking miles. Uber tracks some but not everything that can be tracked. So after talking to a tax attorney and cpa I tracked all my own miles. Well the difference between Uber and my tracking was 7000 miles. According to 2016 you can write off $0.63 cents a mile. Thats $4410 in tax write offs that would have been missed. If you are taxed 30% then thats over $1200 in taxes I would owe if I didnt know better. Dont get me started on meal write off, rent, cell phone, personal “vacations”, internet bill, and so on.

My main question would be what percentage of people know about being a business owner vs being an employee? Also who can make Uber work better a person who understands working a job or a person who works for themself?

I retired from a financials landing biz in 2009 and was self employed. Just started Lyft and want to be self employed. What exactly do you want to know? I’ve been both and much prefer being my own boss!

I am self employed so was really just here to help others but sensing this group has more people that troll then discuss.

It’s a fun part time gig if you don’t rely on it for bills. The benefits I get out of it aren’t monetary.

Don’t quit your day job unless you want Uber to become your day AND night AND night AND day job, day after day, night after night.

I drive for both. Lyft’s car requirement is 2009 or newer. Next year it will be 2010 and so on. An Uber rep told me your car can be as old as 2002. DO NOT rent a car if you are just testing. With Lyft, you can rent a car, but you must do 70 rides in one week, for Lyft to pay for your car. If you only get 69 rides, it’s about $215.00 a week. I do not know how Uber works the rentals. It is very hard to get 70 Lyft rides in a week, as there are way more Uber riders than Lyft.