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Do you think full time would be right for my situation?

Discussion in 'Advice' started by Notmyrealname, Oct 15, 2015.

?
  1. Yes

  2. No

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  1. Hello!
    I'm trying to make the decision on whether I should drive full time or not. I've read a few articles and blogs and they all seem to urge against it, but I'd really appreciate some input on my current situation.

    I'm employed in one full time job and one part time job. They both pay 25- an hour. I really hate my full time job for a thousand reasons and have been dying to leave it but there hasn't been anything comparable in pay until I found lyft/uber. I've been working a couple nights or mornings a week when I have time, I'm not sure if it's begginers luck but I've been making somewhere around 18-35 an hour. I'd really like to replace my full time job with driving because the flexibility would allow me to go back to school, as well as enjoy life a little bit hahaha.

    The full time job pays after taxes about 750 a week , if I could make within a Couple hundred of that I could stay pretty comfortable (especially with my part time job as a fail safe for bad weeks/emergencies with my car etc).Is this realistic in southern Orange County? There just seems to be so many upsides I'm curious what the downsides are.

    The main objection I've heard to driving full time is depreciation of your car. To which my response is that I drive ~65 miles a day commuting to my job as it is, I own my car outright and don't mind the extra miles. It just seems like that means I may need a new car a year or two before I'd have to get one anyways.


    Im new to driving, so I could definitely be missing something. What are your thoughts?
     
  2. I enjoy Ubering, but I wouldn't recommend anyone depending on it for a full time income. There is very little stability, Uber could cut rates or increase their commission at any time.

    I've written several posts explaining the actual impact of depreciation on vehicles. I'm too lazy to go through the entire thing now. Go to a site like KBB or Edmunds and plug in numbers for your vehicle for when you plan to trade it in for a new one, then put in your estimated mileage with Ubering and without Ubering. You'll probably find that the extra miles come out to, at most, 2 cents a mile at trade in time for an eight year old car, for example.
     
    ImGood2Go and Huberis like this.
  3. Go for it, bro!

    YOLO!
     
  4. JMBF831

    JMBF831

    Location:
    California
    Driving:
    UberX
    The main problem with quitting a job that is stable is just that, Uber is not stable. They could cut rates by 10-15% (or more), they could increase their commission, decide to inject hundreds of new drivers into your market area, etc. They could just go out of business and stop operating for all we know. They have too many unpredictable factors to leave a steady, reliable full time gig (IMO).
     
    Huberis and ImGood2Go like this.
  5. No No No No. I just can't stress it enough. If I had a full time job that paid $25 an hour I would run run run away from Uber, but I can not. Do not give up your guaranteed income for this - Uber can and will deactivate you on a whim.. and keep you deactivated for days even a week or more.. even if the mistake is theirs - you are at their mercy and they do not give a crap about you, they would just turn it back on and say, and then leave you without a week's earnings. There is no way to ever gage how much you are going to make. You never know from day to day how many other drivers are going to be on the road, whether or not a storm is gonna come out and everbody stays home. You just don't know. The Uber passengers have all the control. You get on a bad streak or get a bunch of surge rides and your pax will one star you for it.. your ratings can tank and it can be totally out of your control. I just would not do it if I had the opportunity to earn a guaranteed living doing something else. If you are EARNING.. I mean your paycheck from Uber is $500 a week.. you have to take 30% of that and put it away if you have a 2nd job because you will be paying taxes... and then you have to take off for gas and bi-weekly car washes, and I just would not do if I were you. The passengers care nothing for you or your car, there are horror stories out there for a reason. This is not the greatest gig... believe me, I was a chear leader once.. but now, I caution you truly. If you were my daughter, I'd tell you run run run. I just can't say it any plainer than that. Part time, maybe this is a thing.. but then again, the costs to your vehicle, and the gasoline.. it just adds up. Think twice, three times.. and then after you've gone ahead and done it despite everything we tell you.... be sure to come back and tell others not to make the same mistake you did.
     
  6. Life changing money, bro.

    Life. Changing. Money.
     
    Another Uber Driver likes this.
  7. Another Uber Driver

    Another Uber Driver Moderator

    Location:
    See avatar
    Driving:
    UberTAXI
    The general rule on UberX is that it is fine if you want it to pay for a few Padres or Dodgers games or to take the wife/girlfriend to a show or to pay your bar bills. It is allright if you find yourself suddenly unemployed and need a few dollars or a little cash flow to keep your head above water until you find something else. If you plan to pay the rent, the electric and keep food on the table, you will not do it on what UberX pays.

    Your current full time "real" job pays twenty-five bananas the hour. While you are at your "real" job, your car is parked. It is not traversing crummy streets in horrid conditions. It does not have twenty people, with varying levels of personal hygiene and pungent carryout getting into and out of it every day. It is not burning any gasolene.

    If you are doing well on UberX, and I mean doing really well, you are grossing twenty five bananas the hour. If you consider that with the Safe Ride Fee, Uber takes between twenty-two and twenty nine per-cent, you are not netting as much as your regular job. If you use a figure of, say, twenty-six per-cent (as the Safe Ride Fee has gone up almost everywhere), in order to net the twenty five dollar hourly, you would need to gross thirty-four dollars per hour. While that does happen from time-to-time on UberX it is far from the norm. If we assume that you do consistently well, we can consider the twenty-five dollar hourly gross. After Uber gets its, say, twenty-six per-cent, you are left with an eighteen dollars-fifty net. Out of that, you must pay gasolene, insurance and maintenance. Keep in mind that as you drive more miles and under worse conditions, the vehicle will require more work. You can assert that you would be paying for insurance, anyhow, and, for the sake of this discussion, I will accept that. That leaves you with increased fuel expenses, still. You are driving more miles, still. This will result in a higher frequency of repairs. The cost of these repairs must come out of your profits. Maintenance items will occur more frequently. The cost of those must come from your profits. There are incidentals that will become more frequent. You will need to have your vehicle washed more frequently. Present your customers with a dirty vehicle and they will rate you poorly which will result in de-activation. You will need to keep on hand extra cleaning supplies to deal with spills and the like. You must pay for those from the profits. That eighteen-dollars-fifty net quickly becomes twelve-dollars-fifty, half of your current paycheck. I am being generous, at that.

    There is the long answer. The short answer is do not quit your day job for UberX.
     
    Old Rocker likes this.
  8. I net about $18.50 an hour before the incremental costs the previous poster mentioned. Our rates are decent compared to many cities. I don't usually drive during bar(f) hours, which cuts down on my earnings potential.

    I'm semi-retired with a pension and have another (small business) source of income. Ubering is great for someone in my situation. I read somewhere that 25% of Uber drivers are over 50.
     
  9. Another Uber Driver

    Another Uber Driver Moderator

    Location:
    See avatar
    Driving:
    UberTAXI

    That, Sirrah, earned you my like. Classify that one in the "Why did I not think of that?" Department. Gotta' love it: "bar(f) hours"! Thank you, Sirrah.
     
    Old Rocker likes this.
  10. I would never recommend doing Uber full-time since the income can vary tremendously from week to week. You can NOT depend on the income from one week to the next. Also, depending on the market, additional drivers will cut your rides. I'm familiar with southern Orange County and it seems quite spread out which will effect the number of rides per hour. Also, I wonder how many Uber drivers are saving some of their income to pay taxes from their Uber checks? That's the advantage of having another job - a 'real' job that withholds taxes and, hopefully, provides benefits such as health insurance. Thankfully, I have a full-time job and this is how I survive and when I began driving for Uber, I increased my withholding on my job to cover what I'm making with Uber. THINK AHEAD! You need to have a plan in the event your car breaks down or you're in a minor accident and your car will be in the shop for an extended period of time. What will you do then?

    In my area, it was a great market when I began a few months ago. I was doing great working only 10-15 hours per week. This is a college town so there's plenty of riders. However, the nearest major city (Indy) now has drivers coming down in droves that has cut into our rides. I'm now making about a third of what I used to make and it gets discouraging. But what's worse is they are also bringing their attitudes and expecting tips. I hear the complaints constantly and just this evening I had a young lady tell me I'm the first LOCAL Uber driver she's had. Out of area drivers are going to drive away our business if they continue their aggressive driving and expecting tips (or they give the rider a low rating). As it is, since they live at least 50 miles away, they drive 14-16 hours per day and sleep in their car. They load up on Monster energy drinks to stay awake. HUGE safety concern and it's only a matter of time before one will be in an accident and the investigation will reveal they've been driving too many hours. Look at what happens to truckers when they exceed their hour limits on the road!

    Uber is great as an additional income - a supplement to your regular, stable job. But if you have to make a certain amount each week to pay your expenses, you could be in for a rude awakening.
     

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