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Discussion Starter · #1 ·
Real cost of driving for uberX
Hi, I am an uberX driver in orange county.
In 2013 I bought a brand new chevrolet Sonic 2LT for 18,500 out the door after taxes and dealer fees. I barely drove it because I have another job that I work from home. Around December of 2014 I applied to become an uber driver. I was very happy it only took about a week for me to get on a road. The rates were 1.35/mile 5 dollar base fare and 25 cents a minute. There were also no safe ride fees. But allot has changed since then and I decided to figure out how much I really make driving with uber. I’m not going to get too technical but rather a general calculation. Current uber rates in my market are 1.10/mile, 0 base fare, 18c/minute, 1 dollar safe ride fee. I have a goal of reaching 150 dollar/day with uber on my earnings tab. (150 after uber takes its cut). It takes me 10-12 hours on average to reach this goal at current rates. I also noticed that I go through 10 gallons and put 260 miles on my car daily. Assuming that I work everyday, 260 x 365 =94,900 miles driven a year. I’m I’m estimating that my car will only be worth 6500 dollars. It will loose value by $12,000 in depreciation.
I reach 30mpgs when I drive for personal use but with uber where im constantly parked or waiting on passangers I get around 26mpg. Cost of gasoline is around 3.50c/gal
94,900(annual miles) ÷ 26 (mpg) x $3.50 = $12,775 in gas spent a year.
How can I forget about oil changes that cost 45 dollars every 5,000 miles =$855
I would have to replace tires twice. Each tire cost 120 dollar x 8 =960
I also put aside 5,000 for any unspecified repairs. And I think I’m being generous with that figure
12,000+12,775+5000+855+960= 31,590
Now let’s see how much will I make driving for Uber 150 x 365 = $54,750 – 31,590 = $23,160 woop woop! Oh shit! but now I need a new car  il buy that chevy again for 18,500 and repeat all over 23,160 -18,500 =4660 profit a year! But hey I forgot to include insurance FML am I working for free?
 

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Real cost of driving for uberX
Hi, I am an uberX driver in orange county.
In 2013 I bought a brand new chevrolet Sonic 2LT for 18,500 out the door after taxes and dealer fees. I barely drove it because I have another job that I work from home. Around December of 2014 I applied to become an uber driver. I was very happy it only took about a week for me to get on a road. The rates were 1.35/mile 5 dollar base fare and 25 cents a minute. There were also no safe ride fees. But allot has changed since then and I decided to figure out how much I really make driving with uber. I'm not going to get too technical but rather a general calculation. Current uber rates in my market are 1.10/mile, 0 base fare, 18c/minute, 1 dollar safe ride fee. I have a goal of reaching 150 dollar/day with uber on my earnings tab. (150 after uber takes its cut). It takes me 10-12 hours on average to reach this goal at current rates. I also noticed that I go through 10 gallons and put 260 miles on my car daily. Assuming that I work everyday, 260 x 365 =94,900 miles driven a year. I'm I'm estimating that my car will only be worth 6500 dollars. It will loose value by $12,000 in depreciation.
I reach 30mpgs when I drive for personal use but with uber where im constantly parked or waiting on passangers I get around 26mpg. Cost of gasoline is around 3.50c/gal
94,900(annual miles) ÷ 26 (mpg) x $3.50 = $12,775 in gas spent a year.
How can I forget about oil changes that cost 45 dollars every 5,000 miles =$855
I would have to replace tires twice. Each tire cost 120 dollar x 8 =960
I also put aside 5,000 for any unspecified repairs. And I think I'm being generous with that figure
12,000+12,775+5000+855+960= 31,590
Now let's see how much will I make driving for Uber 150 x 365 = $54,750 - 31,590 = $23,160 woop woop! Oh shit! but now I need a new car  il buy that chevy again for 18,500 and repeat all over 23,160 -18,500 =4660 profit a year! But hey I forgot to include insurance FML am I working for free?
This is exactly why we are "negative" according to newbies and/or Uber ppl and or robots that visit this page and post they are making $150 a day in 6 hours

GOOD THING YOU SAW THE LIGHT

You're not working.for.free but all you have a small business that's under and you're under because of the low rates
 

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Discussion Starter · #9 ·
For sure, but always send them something. You are 99% getting audited if you send them nothing.
I dont not do taxes because i have decided that I've made no profit. I still fill out 1099 but after .56 cent deduction for 94900 miles driven i get a write of up to $53,144 in taxes. Which is pretty much 100% of what i get paid by uber before any expense
 

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Time consuming, frustrating, you accidently made a mistake on your normal job taxes. Just saying that they are going to look a lot closer if you pay nothing, even if it is truly accurate.
 

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Real cost of driving for uberX
Hi, I am an uberX driver in orange county.
In 2013 I bought a brand new chevrolet Sonic 2LT for 18,500 out the door after taxes and dealer fees. I barely drove it because I have another job that I work from home. Around December of 2014 I applied to become an uber driver. I was very happy it only took about a week for me to get on a road. The rates were 1.35/mile 5 dollar base fare and 25 cents a minute. There were also no safe ride fees. But allot has changed since then and I decided to figure out how much I really make driving with uber. I'm not going to get too technical but rather a general calculation. Current uber rates in my market are 1.10/mile, 0 base fare, 18c/minute, 1 dollar safe ride fee. I have a goal of reaching 150 dollar/day with uber on my earnings tab. (150 after uber takes its cut). It takes me 10-12 hours on average to reach this goal at current rates. I also noticed that I go through 10 gallons and put 260 miles on my car daily. Assuming that I work everyday, 260 x 365 =94,900 miles driven a year. I'm I'm estimating that my car will only be worth 6500 dollars. It will loose value by $12,000 in depreciation.
I reach 30mpgs when I drive for personal use but with uber where im constantly parked or waiting on passangers I get around 26mpg. Cost of gasoline is around 3.50c/gal
94,900(annual miles) ÷ 26 (mpg) x $3.50 = $12,775 in gas spent a year.
How can I forget about oil changes that cost 45 dollars every 5,000 miles =$855
I would have to replace tires twice. Each tire cost 120 dollar x 8 =960
I also put aside 5,000 for any unspecified repairs. And I think I'm being generous with that figure
12,000+12,775+5000+855+960= 31,590
Now let's see how much will I make driving for Uber 150 x 365 = $54,750 - 31,590 = $23,160 woop woop! Oh shit! but now I need a new car  il buy that chevy again for 18,500 and repeat all over 23,160 -18,500 =4660 profit a year! But hey I forgot to include insurance FML am I working for free?
Best new member post!
 

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You are allowed to show a loss for 5 years straight, after that dissolve the business and open under a new name. Its legal but, disclaimer, consult your tax adviser.
 

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I'm glad you laid it out like this. Here's another thing to consider though. Driving safely requires a lot of concentration and is therefore very draining. You said you need 10-12 hours and 260 miles a day of driving to make $150. This is about the same for me, and about how much I want to make per day as well. Does Uber not understand how much concentration driving alone uses? And that's aside from all the other things an Uber driver has to think about which basically doubles the concentration needed. 1 hour of driving is like 2 hours or working another job. 1 hour of driving for Uber is even worse. It's amazing these idiots who think driving is easy. Really? They even tell you in driving school that driving causes a lot of fatigue. On top of it, you have to socialize with random people asking tough/personal questions. All of this is extremely draining, no matter who you are. It's even worse when you check your income and find you're not making shit. That leads to depression which slows down your reaction times. We need to be compensated fairly for such a task. We are not robots. $1.10 is also the rates in my city. It's ridiculous how much Uber expects from drivers all while distancing themselves from the drivers as much as possible. Seems they know what a risky situation they're putting us in, but simply don't care because their only focus is on their profits. They make taxi companies look like a human rights organization. In conclusion, Uber drivers need $2.00/mile minimum or this will end badly for everyone involved. No ones life is worth a few dollars in savings.
 

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Im hoping my profit will be better than the example given here since I bought a cheap 2006 Nissan Sentra to drive for Uber. I'm just afraid my ratings will suffer for not having a nice new ride to chauffer pax in. I figure if that happens I'll take out the 2015 Optima we bought 2 weeks ago to test out the theory of bad car=bad ratings and good car=good ratings!
 
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