[Harlem_Hassan]

Interested in becoming an Uber driver. I recently spoke with a Driver of Both Uber and lyft and he gave me some info on becoming a driver but here is my situation.

I currently work a full time job 9-5. If I were to start doing Uber/Lyft I would work from 5:30 to 11:30, 3day/week, Thursday Friday and Sunday or Saturday* (*This hours would 11-9pm). Open to making adjustments if need be to maximize earnings.

I would be purchasing a certified preowned vehicle to finance. With insurance and other stuff, I would roughly be spending $1000 a month.

How much can I expect to net per month after overhead (expenses/Ubers cut/car expenses)?

 

[Old Rocker]

I drive late afternoons, rush hour, and early evenings, and rarely drive during barf hour. I net, after gas, about $16.50 an hour. I believe your rates in NYC are higher than here ($1.10/mile).

 

[Harlem_Hassan]

Thanks for the info. You use your own car? You finance?

 

[Old Rocker]

Thanks for the info. You use your own car? You finance?

I'm leasing my car. When I stated Ubering, I had only used half of the allotted mileage to date per the lease terms. By the time the lease is up, it will be a toss up on whether or not I'm over the mileage, but I plan to convert over and finance the car when the lease is finished. This isn't the best way to do it, but I hadn't planned on Ubering when I leased it.

 

[CantThrowCantCatch]

Don't do it. $1000/ month is a lot. You'd have to make $3-4k/ month for it to be worth it. And that'll mean you'd proably have to quit your regular job.

 

[Old Rocker]

The lease on my BMW is $300 a month. My insurance is $90 a month. I was paying both anyway when I started Ubering.

 

[ImGood2Go]

Interested in becoming an Uber driver. I recently spoke with a Driver of Both Uber and lyft and he gave me some info on becoming a driver but here is my situation.

I currently work a full time job 9-5. If I were to start doing Uber/Lyft I would work from 5:30 to 11:30, 3day/week, Thursday Friday and Sunday or Saturday* (*This hours would 11-9pm). Open to making adjustments if need be to maximize earnings.

I would be purchasing a certified preowned vehicle to finance. With insurance and other stuff, I would roughly be spending $1000 a month.

How much can I expect to net per month after overhead (expenses/Ubers cut/car expenses)?

I believe you could do this by cutting the expenses by not buying a new car or the fanciest model out there. When I decided to become an Uber driver, I didn't even have a car, nor could I afford to make large payments. I 'settled' for a 2012 Toyota Camry and told the dealer the payments couldn't be over $250/mo (I wanted to be able to afford them in the event I decided to stop driving). I LOVE my car! Over the years I've owned BMW's, Corvettes, mini vans, even a Jensen Healey back in '74 (when I was young and dumb about cars!) among many other interesting 'rides'. However, they got me NO WHERE in life I wanted to be. I recommend practical and economical and you'll do just fine!

 

[Old Rocker]

I believe you could do this by cutting the expenses by not buying a new car or the fanciest model out there. When I decided to become an Uber driver, I didn't even have a car, nor could I afford to make large payments. I 'settled' for a 2012 Toyota Camry and told the dealer the payments couldn't be over $250/mo (I wanted to be able to afford them in the event I decided to stop driving). I LOVE my car! Over the years I've owned BMW's, Corvettes, mini vans, even a Jensen Healey back in '74 (when I was young and dumb about cars!) among many other interesting 'rides'. However, they got me NO WHERE in life I wanted to be. I recommend practical and economical and you'll do just fine!

OMG, a Jensen Healey? I've only ever seen one, the US version with the enormous rear bumper.

 

[Huberis]

Interested in becoming an Uber driver. I recently spoke with a Driver of Both Uber and lyft and he gave me some info on becoming a driver but here is my situation.

I currently work a full time job 9-5. If I were to start doing Uber/Lyft I would work from 5:30 to 11:30, 3day/week, Thursday Friday and Sunday or Saturday* (*This hours would 11-9pm). Open to making adjustments if need be to maximize earnings.

I would be purchasing a certified preowned vehicle to finance. With insurance and other stuff, I would roughly be spending $1000 a month.

How much can I expect to net per month after overhead (expenses/Ubers cut/car expenses)?

What are the fees, regulation and insurance requirements to drive in NYC? Would rideshare insurance be available to you and would the people you are leasing from be aware of your intent and are they ok with it?

Those might be some considerations. I was under the impression Uber drivers were held to rather legitimate standards relative to most other markets. I personally assumed that would be why New York has very high rates/mile relative to a city like LA. NYC is over $2/mile while LA is less than $1/mile.

Before you bite the bullet, make sure you distinguish the insure you would get if you simply acquired the car for personal use versus what you may need in NYC. You want to be sure you are truly covered in the event that something happens to your car, Uber's insurance is more about liability issues.

- Who repairs what under the terms of the lease and what kind of milage allowance? Hope it goes well for you, move slowly, leasing is dodgy.

 

[ImGood2Go]

OMG, a Jensen Healey? I've only ever seen one, the US version with the enormous rear bumper.

Yep, that's the one! Black convertible and it definitely turned some heads. BUT, I didn't keep it very long. Too many 'issues' and the maintenance costs were ridiculous (British cars weren't very reliable back then!). One time it was a seat belt sensor in that the car wouldn't start unless the seat belt was fastened. No problem EXCEPT for the time I was on the Newport Freeway (Orange Co., CA) and it had a short of some type and was cutting out so I had to pull over and figure out the problem and how to get it going. It was under the driver's seat and, as a female, didn't know much repairing cars. However, with a bit of commonsense, I jiggled the wires around for a bit and it worked and got back on the road. You won't believe it but I traded it for a Fiat X 1/9 - another mistake!!

 

[Old Rocker]

Yep, that's the one! Black convertible and it definitely turned some heads. BUT, I didn't keep it very long. Too many 'issues' and the maintenance costs were ridiculous (British cars weren't very reliable back then!). One time it was a seat belt sensor in that the car wouldn't start unless the seat belt was fastened. No problem EXCEPT for the time I was on the Newport Freeway (Orange Co., CA) and it had a short of some type and was cutting out so I had to pull over and figure out the problem and how to get it going. It was under the driver's seat and, as a female, didn't know much repairing cars. However, with a bit of commonsense, I jiggled the wires around for a bit and it worked and got back on the road. You won't believe it but I traded it for a Fiat X 1/9 - another mistake!!

You must like funky bumpers! At least it probably got much better gas mileage.

 

[ImGood2Go]

You must like funky bumpers! At least it probably got much better gas mileage.

Definitely better gas mileage but you're right about the bumpers! I remember it well since I loaned out the car to a friend one evening and he wrecked it. I went at least TWO months without it while they waited for the parts to arrive and that front bumper wasn't right. I traded it for a new '77 Thunderbird right off the showroom floor. That was probably one of my favorite cars I ever owned.

 

[Old Rocker]

Definitely better gas mileage but you're right about the bumpers! I remember it well since I loaned out the car to a friend one evening and he wrecked it. I went at least TWO months without it while they waited for the parts to arrive and that front bumper wasn't right. I traded it for a new '77 Thunderbird right off the showroom floor. That was probably one of my favorite cars I ever owned.

I had a '76 Datsun B-210. Notable for 50mpg and 0-60 in 17 seconds.

 

[negeorgia]

I would never finance a car purchase again, ever. I borrowed $32,000 for a car in 2008 and paid cash for a $10,000 car in 2014. That's a $42,000 improvement in brain cell activity just from following Dave Ramsey's baby-steps.

 

[nooneyouknowof]

$1,000 a month for a car payment and insurance? That seems high. I think you can make money with those expenses, but not much. NYC is a totally different market than Omaha though. I drive mostly Fri/Saturday nights and make 400-500 a week.