How much income do you make after expenses ?

How much income do you make per month after expenses. Please state if you rent or own your own car so, I can compare which is more profitable. I assume owning your own car makes this business more profitable as I am shocked how much I pay to Hertz! 1000 usd per month?!!

I want to know the difference and what is the average income and hours worked?

Thanks.
 

oldfart

Well-Known Member
When I put my car into service for rideshare I estimated it’s worth to be $20000 and I anticipated I’d get 200000 more miles out of it so 10 cents a mile. At the rate I’m driving that’s $600 a month. I also budget $3000 a year ($250 a month) for repairs and scheduled maintenance.
So that’s $850 a month vs your $1000 a month
Advantage: ownership.

But there is more to consider. I maintain a savings account big enough to buy a new car tomorrow in case my assumptions are wrong and my car craps out tomorrow. And insurance

To be honest your $1000 a month dosent look too bad to me
 

TomTheAnt

Well-Known Member
Every market is different, so post in your respective area’s section and you’ll get much more accurate responses.

Thousand bucks to rent a car??? Seriously???
 

UsedToBeAPartner

Well-Known Member
How much income do you make per month after expenses. Please state if you rent or own your own car so, I can compare which is more profitable. I assume owning your own car makes this business more profitable as I am shocked how much I pay to Hertz! 1000 usd per month?!!

I want to know the difference and what is the average income and hours worked?

Thanks.
According to the Government and my tax returns, driving for Uber or Lyfy is a money losing proposition once you factor in ALL of the costs including depreciation. Deduct $0.58 mile for every mile driven (not every mile with a pax on board) and the pay you receive (only when pax is on board) and the math is pretty simple.
 
According to the Government and my tax returns, driving for Uber or Lyfy is a money losing proposition once you factor in ALL of the costs including depreciation. Deduct $0.58 mile for every mile driven (not every mile with a pax on board) and the pay you receive (only when pax is on board) and the math is pretty simple.
According to MY TAXES AND THE GOV LOL, my rental properties all lose money (depreciation) as do many small businesses, although the owners will be living high on the hog.

Please don’t listen to people who don’t know the difference between taxes and reality.
 

Mr. Sensitive

Well-Known Member
How much income do you make per month after expenses. Please state if you rent or own your own car so, I can compare which is more profitable. I assume owning your own car makes this business more profitable as I am shocked how much I pay to Hertz! 1000 usd per month?!!

I want to know the difference and what is the average income and hours worked?

Thanks.
I make between 5-6 thousand per month before expenses. I net close to 4500 or a little more after all expenses, including taxes.

I use uber/lyft as a way to poach customers & have been doing so for awhile now. All of my clients are business commuters to airports or dancers who require driver & security to jobs they do.

I can't imagine what life would be like if I only did uber/lyft like a job. First & foremost you should realize you do not work for either of these companies. They pimp out drivers for the lowest wages possible. You are a contractor who agrees to take a wage by being paired by an electronic algorithm that matches a ride.

I own my cars.
 

JasonLV23

Active Member
How much income do you make per month after expenses. Please state if you rent or own your own car so, I can compare which is more profitable. I assume owning your own car makes this business more profitable as I am shocked how much I pay to Hertz! 1000 usd per month?!!

I want to know the difference and what is the average income and hours worked?

Thanks.
My 2016 Hyundai Elantra payment is $374.00 a month. My Full Insurance coverage with a $100 comprehensive and collision deductible was $142 a month... now it is $303 a month after a small accident that they ruled was my fault even though the car/person this occurred with had 4 prior accidents in the EXACT same location... can you say FRAUD and CORRUPT collusion in Las Vegas! I do not believe at all it was my fault... long story not even going to bother to explain.

WIth the mileage/deductions including interest deductions my used $15000 car went from 32,000 miles to 110,000 miles and received a $12,000 Deduction this past year! After $27,000 gross on Uber this past tax year(SLAVE LABOR) I had NO taxes owed and am eligible for FULL FREE Medicaid both medical and prescriptions ALL free! I am also eligible for FULL Pell grant.financial aid and am pretty sure I am going to go back to school to finish my Nursing RN degree since I am 50% done with all the Prereqs and a 3.82 gpa now. I would be stupid not to take advantage of my present situation.

I spent over $1300 this past year on tires once and break jobs(financed and paying off over 6 months to avoid interest) twice the past year!
The car will be DEAD before my loan is ever paid off IF I continue to drive Uber X! When I look at my situation it's obvious the time to stop driving has arrived! Right when you think that these companies can not screw us any harder during the past month in Las Vegas they have eliminated the surge multiplier, take 60% of the fee when we use the Destination filter on Uber, and the new sticky surges that were implemented over a month ago have become more and more less frequent! All this while gas prices are rising! Why in every single other industry when gas rises costs rise for food, goods and services, etc... yet in this industry when gas rises the rates DO NOT increase as they should? Can you say BS? !

Many advise against the rental programs but in most markets the cost is around $800 a month if you don't meet the ride requirements which basically are the same as what my costs are of running my own vehicle... which as said will be dead before it's f*cking paid off! You can't do the Hertz rental and drive for Uber .... just LYFT... but you can use it for personal miles and also use it for Door Dash, Grub Hub, Amazon Flex, Instacart, ETC. where if you picked up some of those gigs a week you can definitely make it the better option without putting your own financial health and car in jeopardy. They will have no idea that you are doing the other gigs... just make sure that you don't run the Lyft app with it able to access your location when you are not using it and don't keep it logged in while you are doing the other gigs. I'd personally run the other gigs on a cheap/prepaid phone to avoid these sleazy companies from spying on you and accessing your data on the rideshare phone.When I did the Lyft rental over 2 years ago for a few months it was the only time that I made over $1000 a week and really felt that I drove/worked less than now because I only did the rideshare prime time like 6am to 9am and usually 3pm- 6. Then if you do the other gigs during lunch 11am-2pm 5 days a week that should be enough to take you over $1000... I figured that out two years ago yet strayed from it and have never done as well since... it's time to go back to what I figured out way back then. IT IS a strategy that works!


It's time for someone to take the LEAD locally as an organizer of drivers to bring the truths of these predatory companies to local/state/Federal Government officials and seek positive change for us drivers... I've had this on my mind a lot lately and am contemplating if it should be my new purpose in life along with finishing the Nursing. Time will tell... right now I am getting my mind and body in great shape again to be prepared mentally and physically to WIN at whatever I put my mind to.

I apologize for any grammar/errors but I am not going back to rewrite/edit this because I have to get to work and I am sure you all are smart enough to figure out my points without having to criticize my way of presentation. :smiles: Be safe out there! Trust in your INSTINCTS!
 

Spider-Man

Well-Known Member
i own my car. and i pay my insurance Yearly one time. and i pay my cell Bill yearly onetime. after that
My rent w/all included "wifi,electric,etc." is 600$ and my food bill is 500$ = 1100$
i shoot for 800$+ a week w/uber. a good week 1K , so 3200-4k. taking 3600 as a average - 1100 = 2500$ Savings a month for me. = 30k in savings for a year :smiles: and in a previous thread ill have my Corvette in 2+ years then ill save for a condo Next
 

Ovaro

Active Member
My market is Los Ángeles and I only Uber/lyft Friday, Saturday, and Sunday. During these 3 days I split my day into two sifts: 4 am to 1 pm, and 5 pm to 12 am. I am able to make about 4500 per month after my expenses: fuel, food, energy drinks, coffee, and car insurance. I own my vehicle, so don’t have to worry about a car payment. I do my own car maintenance: oil and filter changes, tune ups, and brakes. Maybe my market is very different than yours, but I think that the principles of motivation and hard work can be applied to almost any market. Also keep in mind that as independent contractors we must make decisions that are the most profitable ones. For instance, at least in my market many drivers will focus completely on weekend nights because of the possible surge pricing, etc. However, many times these drivers are too tired to drive during the early morning hours (4 am-11 am) of Saturday and Sunday. This can lead to profitable mornings to those willing to wake up early in the morning. So I would suggest that you try out something that other drivers are not doing in your market.
 

lukem5

Member
Drove my ass off 16 hour days starting at 4 pm slept during the mornings I could pull in $10 grand a month no problem.
 
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