[UberTDI]

Here's a stab I made at a sheet to compute the costs, mileage, profit/loss and hourly wage of being an Uber driver.

https://goo.gl/OU6wwR (Link to Google sheet..)

I'd like some critique / advice from anyone doing something similar - does this seem to cover most/all of the pertinent information? I don't have any sums yet, but I will work that into the document as time allows.

If you can, share what you use to track these information points and how it compares to what you use?

 

[Tim L]

I like it.

 

[Shakenama]

Ohh man!!...I love this. I'll definitely be using this for tracking my numbers. Awesome job!

I added a chart and narrowed the columns. I'd recommend keeping the rows down to 31. This way you can use each sheet on a monthly basis. Add a new sheet for each month. Now you got me thinking about making an database with Access.

 

[KGB7]

Great job dude.

 

[Fuzzyelvis]

Here's a stab I made at a sheet to compute the costs, mileage, profit/loss and hourly wage of being an Uber driver.

https://goo.gl/5eodsl (Link to Google sheet..)

I'd like some critique / advice from anyone doing something similar - does this seem to cover most/all of the pertinent information? I don't have any sums yet, but I will work that into the document as time allows.

If you can, share what you use to track these information points and how it compares to what you use?

I have something similar. But are those real numbers? Because if so you have way more dead miles percentage wise than me.

Also your operating cost looks low to me. I don't see insurance or car washes in there. Registration/inspection cost. Also you depreciate over 200,000 miles so presumably you expect the car to last that long but you have no budget for anything but routine maintenance. I would expect there to be a fuel pump, starter, SOMETHING to go out during that time. I don't see struts or alignment there. That's almost routine given this kind of driving. Likely to need some of that sort of thing. And very likely at least one dent or ding requiring a trip to a body shop and a deductible paid.

In my spreadsheet I also figure what my taxable income will be and likely net (take home AFTER taxes). I do keep track of actual expenses but I use mileage for my tax deduction. That helps with knowing how much (for me) to add to my withholding at my regular job. Of course that could be a negative for some drivers.

 

[UberTDI]

True, but I'm a PT driver - so the operating cost per mile I figure as real, tangible costs. I do my own maintenance and any repairs I can, and the car has a warranty up until 120K miles. I can't attribute every cost to Uber driving, and if an unexpected expense comes up, than so be it - it just comes out of profits if it's Uber related.

The car is a VW TDI, which if you can escape the "big" repairs that sometimes hit these cars - the operating cost is overall pretty low - especially given I can get around 40MPG in town, and doing my own maintenance and whatever repairs I can really lowers that cost.

As for dead miles, I'm still working that out - The dead miles the other night were really bad as I took a longer ride to a town about 15 miles north, then I parked and took another ride that was about another 20 miles north. Given that it was 3:00A when I dropped that guy off, I wasn't going to gamble to take another ride that took me even further north. I really have to perfect the art of declining rides once I find the PAX isn't going the direction I need to close out the night.


Given my small amount of driving for PT work, and the fact that I'm still a little green at this I think this is a pretty decent start at keeping a nice log and a good estimate of what my costs, profits, and hourly wage is.

 

[KevRyde]

I discuss my tracking and analysis process and my approach in general in a thread I posted at the end of June. I have since added some additional columns and tweaks to my monthly spreadsheet and have attached screen shots for July and August.