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Due to the saturation of so many new drivers and fewer requests, is it really even worth driving for

  • Yes

  • No

  • Maybe / not sure

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Discussion Starter · #1 ·
Due to the saturation of so many new drivers and fewer requests, is it really even worth driving for ride share as a side gig anymore? I feel like the answer for the most part is no.

1) too many drivers
2) too much wear and tear on the car, miles. gas
3) federal tax refund cut in half

I may stop driving completely or drive very minimally at this point due to the factors listed above.

(I do NOT drive at night. Only during daylight hours after work or when I'm not at work.)

Thoughts?
 

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I do almost no surge because i'm about 45 minutes away from Atlanta. However, i sit right behind a bar where i live thats just as busy as any bar in Atlanta. I usually catch 4 rides per hour (i ignore every non-bar request) and even though i only make $4-$6 on each one i do so many back to back that i do really well. Theres almost zero traffic after 9pm so i just zip around. Not bad for 20-25 hours a week. But Uber really should be paying AT LEAST $1.15 per mile
 

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It depends entirely on your exact situation including other options and your location. But for most people I think the trend is for rideshare to be a $5 an hour gig.

The days of making $15-$20 an hour with rideshare are rapidly sunsetting. Some lucky ones can still do it but it seems oversaturation, UberPool, and lower rates have taken a toll.

Worse the trend is clearly for the oversaturation to get worse and for hourly earnings per driver to decrease. Then eventually the robots will be driving. So the outlook is pretty bad.
 

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I agree that "Worth it" is driver dependent. My worse night of driving, minimal surges and minimal select rides, i can usually net $20 an hour still.

On a good night, i can creep up to $30/hr

An outstanding night with great tips, i can get close to $40/hr

Outstanding nights dont happen every time out, but enough to balance things out.

Its not easy to get the right system, its very much market and class dependent. I probably would never get close to $30/hr without Select.


Tips have been making things so much better. If you dont have a sign, put one up. If you dont know how to direct conversations towards tipping gracefully, learn it.

You shouls always have a way to direct a conversation to where you can mention a tip.
 

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In general, it's a bottom of the barrel job, that should be approached with realistic, low expectations.
If it fits your specific situation, or you are an outlier with unusual success, it's worth considering as a part-time gig.
 

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If you mean full time, then only a few locations, Palm Springs is not one of them. It works for part time income, driving during peak hours but only if you enjoy it. You will not get a fat wallet.
 

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Discussion Starter · #8 ·
I have no clue how full-time drivers are able to make ends meet doing rideshare. I only do it as a part-time gig and I struggle to get pings.
 

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This is a part-time, seasonal side-gig in my opinion. It's not a substitute for a full-time job with benefits. I'll drive as long as it's profitable for me. Have to treat your driving like it's a business. When a regular business enterprise loses money with no hope of coming out of it, that business shuts down. This endeavor should be treated the same way.
 
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I was out driving twice a week, I have a minimum set goal of rides per day and I try my best to attain it. I check the riders app (both lyft and Uber) on a separate phone and now I got a very clear idea where most ping generates any given time of the day. It takes a while but a bit of patience will render its fruits. Last week I started driving also on Friday nights and I was surprised at the number of pings I got. Is the first time, outside holidays or special events, that I actually managed to make over $ 30.00 bucks an hour on average.
So my advise is:
1st. check the trends and act accordingly
2nd. Don't make of RS your primary income unless you are willing to put real time into it.
 

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Meaning my federal refund was twice as much after my W2 for my full-time job was entered.

After entering uber/lyft income from the 1099k, the refund went down about 450 bucks.
Did you deduct your Uber/Lyft expenses? Or did you just report the 1099 income, without deducting U/L fees, mileage, etc, erc?
 

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I deducted miles. I did NOT deduct U/L fees :(
I'm not entirely sure about this, because this is my first tax year, but I think the amount listed on your 1099 is the gross fare paid by the pax. Out of that comes the booking fee and U/L commissions (25%) -- which is a sizeable amount.

Anyone know for sure?
 

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What's on your 1099 is the total amount they paid you......from that you can deduct the booking fee of every ride and the. 25% off of ever ride.....plus your mileage your rideshare insurance amount up to 1/2 of cell phone bill each month (other 1/2 considered personal usage) if you had to upgrade your data limit the difference is deductible part of your home (size of one room classified as home office) if you use square for tips...the percentage charged for CC processing...if you bought different clothing/shoes to be used for Uber ONLY that's deductible.... anything (except for car payment if you were making payments before)..and personal regular auto insurance (needed to drive anyway).....so anything that affects your bottom line can be used as a deduction...away from your 1099 total and even your W2 income.......I personally had over 42k ....yes 42,000 in deductions for 2016 but I drive a car explicitly for a taxi so my deductions are quite a bit more than a timeshare driver..........but you can still have enough
 
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