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Discussion Starter · #1 · (Edited)
So,

after having seen this site, I was given an idea, to do something more for GTA/Canadian Drivers.

So here's the Chart (View-able format - this is what I will update)

Any input is appreciated from all Canadian Drivers.

I'm taking the following into consideration, please either post info in thread, or PM me, and I will update the chart. - If you would rather fill a template and send it back to me, see the downloadable version in Excel .xlsx .

  • Vehicle Make/Model/Submodel/Year
  • Engine Information
  • COST: Manufacturer's Suggested Retail Price (MSRP) or Price Pad, as new
  • Fuel efficiency - L/100km (either provided from driving average, or sourced,).
    • I'm using 60City/40HWY rule to from Natural Resources Canada for reference
    • I'm looking for Real world Driver use stats to better gauge fuel costs
    • In case of Full Electric Vehicle, provide the average kWh/100km
  • Fuel Type: Regular, Midgrade, Premium, Diesel, or Electric
    • I will update pricing based on Toronto Average weekly.
    • For Electric, I will use cost of Mid-Peak kWh as reference, many will use non-peak or free chargers.
  • Depreciation (separating this out)
    • Calculated Based on Driving 50,000 km/year For a 5 year span.
  • Other Costs / km (in Cents) should include the following:
    • Maintenance
    • Other related car costs, that would be normal for any owner.
    • Do not include costs that are Unique to you, like payments, insurance, etc.
  • Total Cost/km (in cents) is calculated.
  • Is the Car Eligible for UberX
    • YES: it meets all requirements for the new regulations.
    • WAS - Older than the 7 year rule (2008 or Older).
    • (Blank): Not for UberX, but assuming UberEats eligibility,
    • +H: Accessible Model
  • Is the Car Eligible for UberXL
    • YES: It seats 7 comfortably.
    • Small(#): Number of Small/Child seats - these will be less comfortable rides.
    • WAS - Older than the 7 year rule (2008 or Older).
    • (Blank) - Not for XL
    • +H: Accessible Model
  • Is the Car Eligible for UberSelect
    • YES: It Meets the UberSelect requirements, and On the Official Select list..
    • OK : It Meets most of the UberSelect requirements, and was Accepted, but is not on the official list..
    • Limo: Not accepted, but is on the City of Toronto Limo List.
    • WAS - Older than the 7 year rule (2008 or Older).
    • (Blank) - Not for Select
    • +H: Accessible Model
 

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Could you also share a download link for a clean template for this?

It would be much easier if drivers could populate the template and send it back to you, so you could just copy/paste the whole row into yours.

Thanks!
 
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Discussion Starter · #3 · (Edited)
I'll have to update/post post it, will do it tomorrow.
Great suggestion BTW.

UPDATE: Having trouble posting the Downloadable version, hopefully get it done later tonight.
 

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UberZF, I thank you for your efforts in putting this spreadsheet together, but I feel like there will only be a couple of vehicles that makes sense to Uber with in this current environment. i.e. real part time driving makes no sense, you will need to drive as much as you can to offset fixed costs as time is really against you: eg. car (7yr rule) & insurance. Plus since you don't get paid more for driving a more expensive car, you need to drive the cheapest (price/depreciation+operating+maintenance) that qualifies for a particular tier. Something along the following lines is what I think it may end up being:
-UberX: Toyota Prius (since you need to drive a lot, then cost of hybrid is justified by gas savings)
-UberXL: Dodge Caravan
-UberSelect: Select only does not justify added revenue vs added cost, don't do it
-UberXL+Select: MDX/QX60 (although you could argue a UberXL only vehicle reaps most of the benefit of a UberXL+Select vehicle, so again why pay double the cost of a Dodge Caravan when you can't earn double what the Caravan can earn?

So in conclusion, maybe with the new rules only 2 cars really make sense? A Prius and a Dodge Caravan?
 

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Discussion Starter · #5 ·
Happy for the Input, I understand where you're coming from Superduber and It's appreciated.
But I still want to have the data available.

There are many that have their own rules for why they want to drive Part Time... lie me.
I'm doing it to Make $ instead of spend it. - So far since Feb, I've taken a nice 2 week vacation, and put aside some (after expenses, and putting about 35% for taxes aside). My goal is to collect, and document a resource so people can have an idea of just the car costs alone...
And let each person make an educated decision based on the collected information.
 

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Discussion Starter · #7 ·
Done some updates based on information people have provided, and some personal research on my next Vehicle.

Superduber and biozon if you can send me some stats I'd love to add them.
 

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Superduber and biozon if you can send me some stats I'd love to add them.
Thanks again for taking a stab at creating/updating this. I believe my stats are meaningless to add. I drive a Select only vehicle and there is no way this makes any sense, not only for what i drive specifically, but for any Select only vehicle. There is not enough Select only business to justify, plus I feel like the vast majority of Select rides I do get are due to UberX surge, so in reality I would likely lose little income switching to a plain Uber X vehicle, as Select rides would instead be surged Uber X rides.

Take this Monday morning for instance. 6 trips: 2 surged + 1 Select. Pax who took Select flat out told me he only took Select because there was a surge and it made little difference in price over UberX. So if I only had a UberX vehicle only, I am sure my revenue would have essentially been the same (ie. 6 trips with 3 surged) and I would have had lower costs.

I am only Ubering with a Select only ride because it is what I already owned. After testing the waters Ubering, i think i could continue doing this but i need to exit my ride, it's just a matter of when and with what. I already put a reservation for a model 3 to leave my options open, but that is realistically 2-3 years away of being possible. For sure i want something with much lower costs. Things i have thought about are hybrid/electrics: Rav4 hybrid and up coming Kia Niro or Chevy Bolt. But again the last two are somewhat unknown as Niro + Bolt are not out yet.
 

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One other thing, yes I know Tesla model 3 likely leaves me in the same spot I am know in, with a Select only vehicle, but I expect model 3 to have much lower operating costs than equivalent Select rides and still be fun to drive (performance/acceleration). My mind tells me a prius is my logical choice, but i feel like i will be miserable driving a Prius.
 

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So,

after having seen this site, I was given an idea, to do something more for GTA/Canadian Drivers.

So here's the Chart (View-able format - this is what I will update)

Any input is appreciated from all Canadian Drivers.

I'm taking the following into consideration, please either post info in thread, or PM me, and I will update the chart. - If you would rather fill a template and send it back to me, see the downloadable version in Excel .xlsx .

  • Vehicle Make/Model/Submodel/Year
  • Engine Information
  • COST: Manufacturer's Suggested Retail Price (MSRP) or Price Pad, as new
  • Fuel efficiency - L/100km (either provided from driving average, or sourced,).
    • I'm using 60City/40HWY rule to from Natural Resources Canada for reference
    • I'm looking for Real world Driver use stats to better gauge fuel costs
    • In case of Full Electric Vehicle, provide the average kWh/100km
  • Fuel Type: Regular, Midgrade, Premium, Diesel, or Electric
    • I will update pricing based on Toronto Average weekly.
    • For Electric, I will use cost of Mid-Peak kWh as reference, many will use non-peak or free chargers.
  • Other Costs / km (in Cents) should include the follwoing:
    • Maintenance
    • Depreciation (Although I may separate this out)
    • Other related car costs, that would be normal for any owner.
    • Do not include costs that are Unique to you, like payments, insurance, etc.
  • Total Cost/km (in cents) is calculated.
  • Is the Car Eligible for UberX
    • YES: it meets all requirements for the new regulations.
    • NO: assuming UberEats eligibility, or Older than the 7 year rule (2008 or Older).
  • Is the Car Eligible for UberXL
    • YES: It seats 7 comfortably.
    • Small(#): Number of Small/Child seats - these will be less comfortable rides.
    • (Blank) - Not for XL
  • Is the Car Eligible for UberSelect
Thanks for your valuable time.
 

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Discussion Starter · #14 ·
Thanks again for taking a stab at creating/updating this. I believe my stats are meaningless to add. I drive a Select only vehicle and there is no way this makes any sense, not only for what i drive specifically, but for any Select only vehicle. There is not enough Select only business to justify, plus I feel like the vast majority of Select rides I do get are due to UberX surge, so in reality I would likely lose little income switching to a plain Uber X vehicle, as Select rides would instead be surged Uber X rides.

Take this Monday morning for instance. 6 trips: 2 surged + 1 Select. Pax who took Select flat out told me he only took Select because there was a surge and it made little difference in price over UberX. So if I only had a UberX vehicle only, I am sure my revenue would have essentially been the same (ie. 6 trips with 3 surged) and I would have had lower costs.

I am only Ubering with a Select only ride because it is what I already owned. After testing the waters Ubering, i think i could continue doing this but i need to exit my ride, it's just a matter of when and with what. I already put a reservation for a model 3 to leave my options open, but that is realistically 2-3 years away of being possible. For sure i want something with much lower costs. Things i have thought about are hybrid/electrics: Rav4 hybrid and up coming Kia Niro or Chevy Bolt. But again the last two are somewhat unknown as Niro + Bolt are not out yet.
One other thing, yes I know Tesla model 3 likely leaves me in the same spot I am know in, with a Select only vehicle, but I expect model 3 to have much lower operating costs than equivalent Select rides and still be fun to drive (performance/acceleration). My mind tells me a prius is my logical choice, but i feel like i will be miserable driving a Prius.
I too have put down my reservation on a Model 3, and I've been after an Audi A3 eTron in the mean time.... though that may not be available before October. Niro & Bolt are on the short list as well for future...

In my case, I'm looking at the Higher end models to begin with for my next Vehicle, and Select is actually a viable option form me because of when I want to drive, and where. Seems the times I want to drive are more popular with the Select crowd from my research.
I drive for these reasons And I'm sure many others do so for various reasons. I'm "earning" about $12/h average, after all expenses, doesnt seem like much.. but when I compare March & April of this year, my NET Savings are up 25% compared to Last year for the same 2 months, and I only actually did uber for 5 of those weeks, while last year I was putting in about 10h of overtime each week during March at my day job.

The goal is to let those "Part time" wannabes, have a better understanding of the costs, based on vehicle. "If you have X, this is what you can expect).

If I ONLY wanted to consider the Uber side of things... I'd go with a 2013/2014 Sonata or even a Kia... (just can't bring myself to do a Prius). Another option would be a Used VW Golf/Jetta/Passat TDI especially now that they're cheaper.. (And I'm seriously considering a 2014 Passat TDI right now).
 

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Discussion Starter · #15 ·
Just added a few more cars, and updated Depreciation details based on some online tools.

Would appreciate If anyone can help out.
 

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Very interesting guide, but let me see if I understand it correctly: this chart will help us see if indeed it makes sense for us to keep driving, right?

BTW, please elaborate on "depreciation" and "cost calculation" as the numbers I'm getting don't seem to make sense compared to the others on the chart.
For example, how would calculate depreciation for a price of $23750?
Thanks again
 

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Discussion Starter · #17 ·
So, Depreciation is based on 50K driving/ year, and over 5 years...

Say, you paied 23750 (Round it to 24000 for ease). - and assuming lifespan of just 5 yrs, and 250k total, with $0 value at end...
the Depreciation would be about 9.6 Cents / km.(24000/250K).

If that same car is expected to last to say 400K, it would be 6cents/km

I also used some online tools, including Blue book valuation, and other resources, to evaluate what a car would be worth after 5yrs, and 250K, vs initial price obtained, and that amount devided by 250K


Please provide your data in PM, or here, and I can add it to the chart.
 

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Thanks,
That's exactly what I was doing but when compared results w/other examples I was getting contradicting answers, so I guess some results on the chart are not accurate.
I'll put up my contribution shortly, thanks again.
 

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Discussion Starter · #19 ·
Some results are best guess...
And some are based on other calculations... Example, If I bought a 2013 Caravan with 120K on it for $8000,
expect to drive it 4 years, at 80K / year, it would come out to : 2.5 cents/km,
BUT newer cars depreciate faster in their first 2 years, and some provided only 1 or 2 year depreciation expectations.
 
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