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RenascentMisanthropy

How much do Uber drivers make?

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My girlfriend recently introduced me to uber... I'm now a convert.

 

It got me wondering... how much does an uber driver take from a fare?

 

Does anyone quit their day job and become a full time uber driver?

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There seems to be info all over the place suggesting it's somewhat a scam as the long term expenses just eat up the initially generous looking commission.

But that seems to assume they're paying off a new or recent Camry or something.

 

Supposedly the drivers can use older cars, NFI what the limit is. Pretty sure most places had an age limit on normal taxis of 5 years or similar.

If you could use a 10-15 year old car, then all of a sudden it becomes an initial outlay of maybe a couple of grand and no ongoing repayments vs the cost of warrantee and repayments of a new car.

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Supposedly the drivers can use older cars, NFI what the limit is.

For Uber X it seems to be 10 years max.

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I've known a few people who've driven standard taxis, fairly sure it's a 50:50 split but not sure what occurs for fuel costs.

Given that you're using your own car, providing own insurance etc you'd want it to be a good whack more, like 80:20 your way, maybe even more.

 

I think for people who just want it as a part time income source it'd work out but no way I'd try it as a sole income stream.

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yeesh

 

I the beginning, there was a lot of money to be made, because there was zero regulation, now you gotta have an ABN, pay for a Authorisation, collect GST, have appropriate business insurance for the car and occupants, Super, tax, and at the end of the day, you might earn a living wage if you work 12+ hrs a day (I hope Uber have a way to regulate this)

 

Though, some people get around shift limits by working for multiple companies, such as Lyft.

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In my country, uber is sold for Grabbike. How much they make? I think it depend on the time they spend.

They told me that a uber drivers can earn up to 400$ for full time driver, or 200$ for partime ( per month) But I dont think we can give up our job to consider uber driver as main income.

Since Uber don't have strick policy and not like a main job which has something that to be insurance.

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ABN is no drama, I got one in 2003 and it took a few weeks then it got deactivated when I didn't use it for a while. Reactivated in 2016 online in a matter of minutes with email notification a couple of hours later.

GST could be a PITA but you only become a GST collector if your received money is over $75K PA (or expected to be).

 

I still think the main pain would be the commission arrangement and long term expenses that make an initially profitable looking excercise nowhere near as good as you thought.

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GST could be a PITA but you only become a GST collector if your received money is over $75K PA (or expected to be).

Small technicality: All ride sharing drivers are required to 'be a GST collector' even if they receive, or expect to receive, less than $75K pa.

 

Rob.

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The real earnings come from moonlighting.

 

Lots of people (I'm one, though I don't do this) enjoy driving as a way to unwind.

Traffic or anything doesn't bother me, I'm in a comfy chair with a radio, why would I be mad?

 

As such, company cars outside of hours are the winner here.

Business Insurance and Fuel Card ahoy.

While I know there are technicalities that make using said vehicles for this NOT covered by cheap fuel and cheap insurance, I know of a great many drivers who's 'day job' is well aware the car gets used for Uber and will 'cover for them' if something happened.

Dodgy, but it seems to be the only way to profit decently from the work.

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