So, I get we're all in different situations, but... (long)

Fuges

Active Member
I find the conversations about a new/used/decrepit to be interesting, and I think I can be empathetic enough to get the different perspectives. There truly isn't a global "right" answer, as it depends on your objective why you drive, your personal financial situation, full/part time, and the market you live in.

Of course driving 40+ hours a week is going to put a beating on your car. But if you're driving 40 hours a week, you're also making more $ and deducting more in mileage (which in theory should cover all costs of a car - payment, gas, maintenance, etc). For sure the mileage deduction would easily cover the cost of ownership, gas, and maintenance of a brand spankin' new car. But, the flip-side is that the cost of ownership is one of the few variables a driver can control to maximize their earnings - in addition being smart and how many hours you drive.

I'm a new driver and spent the first few weeks driving my wife's 2012 Mini Countryman. Fun car and I received tons of compliments and tips were actually not bad. Driving a bit more and maximizing my trips I'm easy at $4k/mo (minimum) - I haven't tried to maximize yet and I'm at $3k/mo.

This Mini I've been driving was in need of new tires, so I was unable to get my TNC (long story about the inspection - approved for Uber but on re-inspection they noticed the tires), so I'm losing a bunch of $ not being able to pick up at the airport. It also gets crappy gas mileage (maybe 22/city) and is a rough ride, so not comfy for me or pax. But it's fun and cute, but I can't hear the radio for how loud the engine and road noise is. It was also seemingly close to needing some considerable work. It just was no longer feasible to expect to drive it for rideshare and be able to maximize earnings and experience.

I generally don't love the idea of buying new cars, but I've done it a few times. My primary vehicle - a Chevy Silverado, was brand new in 2016 because it's my baby and I expect to drive it forever, but driving a car for rideshare... uhhh... not sure I really wanted a new car. But, I also want to enjoy my ride experience as well as my pax, and I want the latest technology and warranty coverage. It would also be our second car and we zip around to neighboring towns and I drive back to MN from WA a couple times a year and wanted comfort and great mileage.

So, I could have bought a used Prius at about any year, mileage, and price I desired, but I didn't desire a Prius. I looked at a few used Accord hybrids but found them to be too price for the value (why pay the same for a 2015 with date tech as what I could buy new for?). So anyway, I settled on a 2019 EX trim Insight with 5 miles on it. Of course I know this will be beat up a bit even as much as I will care for it. But it will also have tangible and intangible rewards that can be quantified - and I'm also comparing it to the car I was currently driving, not an equivalent hybrid I could have picked up for $10k with no warranty, dated tech, and just plainly not as enjoyable to drive professionally or personally.

So, doing the mileage reimbursement math from the government at $.58/mile, assuming ~2,000 miles/mo, that's a $1,160/mo allowance for the car - payment, gas, and maintenance. After 3 years that's $41,760. Please don't tell me not to use that allowance because if I didn't you'd tell me I wasn't making enough of an accommodation. So, we'll just go what the government is giving us to drive the car. At the end of 3 years the car is paid for, gas is paid for, maintenance is paid for, and I got to use it for personal use and save a ton of money in gas over using the old Mini.

Again - I totally understand that many people are driving to make their living. If so, of course you could make another $400/mo without a car payment - but you also may have more in maintenance, and if you're not driving a hybrid - but rather a Civic or Corolla or Camry that's not a hybrid, you're leaving a ton of money on the table in gas savings. So I can make that argument right off the top. I'm fortunate in that I'm 50, I've had a decent career in tech and am just taking a bit of a sabbatical and my wife has a good job, so I am thankful I can look at it with a different perspective.

So, if I drive ~2,000 miles/mo and have revenue of $4k/mo, that's $2,980 each month left after ALL brand new car expenses and gas (conservatively). What am I missing? I get it that if I'm paying the rent and feeding my family (I do have three kids in college) with it that the extra $400 car payment in my pocket would be super important, but it may be offset with worse gas mileage and/or lower tips, so does it really make that much of a difference?

I have budgeted an additional $300/mo for incidentals - washes, gum/mints, dashcam, etc - but that still doesn't have much of an impact on my objective to drive. And additionally I'm then driving a "free" personal car and I'm far more comfortable and enjoying the job more. Sure I can make a boatload more back in tech, and I could make more as a bartender down the block - but I wouldn't have the flexibility to fit my lifestyle and my other projects/biz.

So when I cruise by you in my Insight I couldn't care less what you're thinking. Think I'm a moron, but I'm a very not bitter person enjoying myself.
 

The_Solo

Well-Known Member
The math I’m stuck on is you claim to make $2 a mile. Between deadmiles and regular miles I feel your estimation/belief you will make that is extremely high. Ignoring your incorrect math I then look at sure currently it SEEMS to be paying for itself but when you out drive the warranty with 6-9 months that benefit as you put it will be gone and quite quickly. Also within just a couple years the car will still be rather expensive monthly while the value will be tanked. Short term with rose covered glasses everything looks beautiful.
 

Fuges

Active Member
  • Thread Starter Thread Starter
  • #5
The math I’m stuck on is you claim to make $2 a mile. Between deadmiles and regular miles I feel your estimation/belief you will make that is extremely high. Ignoring your incorrect math I then look at sure currently it SEEMS to be paying for itself but when you out drive the warranty with 6-9 months that benefit as you put it will be gone and quite quickly. Also within just a couple years the car will still be rather expensive monthly while the value will be tanked. Short term with rose covered glasses everything looks beautiful.
I'm not "claiming" to make anything - I'm conveying facts as they pertain to my experience. I track miles from when I leave my house, miles with pax, and miles between pax. I generally only count for revenue/hour purposes from the mile I pick up my first pax until I drop off my last pax. I don't count my miles when I drive one mile before I get a ping or if my last drop is 20 miles away. My logic there is that if I'm a server or if work for the DOT or if I have an office job - none of those jobs pays you to go to/from work so it's not a fair comparison to make. I usually have a ping within 1/2 mile and usually try to drive until a drop is within a couple miles of my house so it doesn't really have much of an impact.

I have a 140,000 mile warranty - that's hardly going to be used in 6-9 months - if it is- then GREAT! If I drive that many miles than I've made far more money than I would have expected. You also must not read well, because I talked about saving the $.58/mile for future maintenance.

I'm 100% sure of my analysis, and there are no rose-colored glasses. If I needed to pay my rent and eat with this gig then yes my perspective would be different - but I am confident that even with a brand new car I can clear $4k/mo. Not nearly enough to fully support ourselves, but I worked 25 years to put me in this position, and my wife has a good job, so I'm not going to put your desperation glasses on.
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The math I’m stuck on is you claim to make $2 a mile. Between deadmiles and regular miles I feel your estimation/belief you will make that is extremely high. Ignoring your incorrect math I then look at sure currently it SEEMS to be paying for itself but when you out drive the warranty with 6-9 months that benefit as you put it will be gone and quite quickly. Also within just a couple years the car will still be rather expensive monthly while the value will be tanked. Short term with rose covered glasses everything looks beautiful.
For instance, today I went and drove for 2hr40m with no surge and had earnings of $53.87. I drove about 30 miles at 50mpg. It was a very low $/hr but I drove only 30 miles at a cost of less than $2.50.

We can talk all day why I'm willing to do this for $20/hr but that has nothing to do with the cost of the car, because what I make is after the car is already paid for - and I also used the car for a few 1,500 mile personal trips. In three years the car will be paid for and I'll still be making money on it - except I won't because I'll realize it's better to sell it to you and buy another new one.
 
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The_Solo

Well-Known Member
It’s your use of the term “about” 30 miles. That means you aren’t exactly sure what you drove or not being specific. But at this point I don’t think there are any markets in which you make $2 a mile anymore when including deadmiles in the middle. Your math is off because you are assuming things your aren’t sure of. As you stated originally you are new. Your unsure of a lot.

Now sure you have money and you don’t care about your losses. That’s fine. But as you just stated your willing to work for $20 an hour (before expenses) and expect 4K a month. Well that’s 50 hours a week of driving. You have attempted to use a lot of math in all your posts but your trying to skew the numbers all over the place.

Also you don’t save $.58 per mile you just don’t pay taxes on that money. It’s a big difference.
 

Fuges

Active Member
  • Thread Starter Thread Starter
  • #7
It’s your use of the term “about” 30 miles. That means you aren’t exactly sure what you drove or not being specific. But at this point I don’t think there are any markets in which you make $2 a mile anymore when including deadmiles in the middle. Your math is off because you are assuming things your aren’t sure of. As you stated originally you are new. Your unsure of a lot.

Now sure you have money and you don’t care about your losses. That’s fine. But as you just stated your willing to work for $20 an hour (before expenses) and expect 4K a month. Well that’s 50 hours a week of driving. You have attempted to use a lot of math in all your posts but your trying to skew the numbers all over the place.

Also you don’t save $.58 per mile you just don’t pay taxes on that money. It’s a big difference.
I know exactly how many miles I drive driveway to driveway, first pick up to last drop off, miles with pax, and total miles. I know all this and keep it in a spreadsheet. "About" was because I didn't have the numbers right in front of me. My math is not "off" at all - it's precisely accurate.

I also realize that the $.58 isn't "saved" but experienced drivers always claim new drivers don't understand the true cost of driving - so I'm using the $.58/mile to ensure I am conservative - and my point was that there's no way I will every spend $.58/mile for the payment, miles, gas, maintenance. Not a chance. I know that for sure. That's $58,000 for every 100,000 driven. So, I'm being conservative by using that as the cost of driving.

All I'm unsure of is how to maximize my revenue/expenses through when and where to drive and when it's best to sit and wait. I am not unsure of my numbers - they are spot on correct. I need a larger sample to determine a strategy.
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You didn't silence anyone, genius. How can you "silence" people who were never paying any attention to you to begin with?

So, what did you write? I didn't read the post.
Ha. What an unfortunate personality. I'm just joking around but you're stuck with your personality forever.
 

oldfart

Well-Known Member
what market are you in to make $2/mile Im moving

You seem to be creating a set of numbers to justify the purchase of a new car...and all you want to do is make the car payments

I get it that you dont want to drive a Prius, I dont either but I argue that the best car to drive for rideshare is the car you already own I think you would do better by driving the mini (assuming its paid for) and saving your money to buy the car of your dreams; cash.
 

Fuges

Active Member
  • Thread Starter Thread Starter
  • #9
what market are you in to make $2/mile Im moving

You seem to be creating a set of numbers to justify the purchase of a new car...and all you want to do is make the car payments

I get it that you dont want to drive a Prius, I dont either but I argue that the best car to drive for rideshare is the car you already own I think you would do better by driving the mini (assuming its paid for) and saving your money to buy the car of your dreams; cash.
I'm in Seattle. I am not "creating a set of numbers" - they're actual numbers. Not sure what to tell ya.

The Mini needed $900 for tires to be able to do airport trips, was needing brakes, and was doing a weird idle thing. I was not about to drop $3k into that car. I generally would agree with you, and I'll drive the Insight well beyond when I can rationalize another new car - and that's when I'll stock it away to save for the next one. Two days of driving the Insight now and it is SO much more enjoyable to drive - quieter, rides so much smoother - it's night and day how much more I enjoy it. That in itself is justification for me - I can actually listen to my radio over the road and engine noise. :smiles:
 

Fuges

Active Member
  • Thread Starter Thread Starter
  • #11
Some extended warranties have a disclaimer somewhere in the fine print about commercial use. Have you read the contract carefully?
Well I'm not exactly going to share that I'm driving rideshare when I need to take it in.
 

oldfart

Well-Known Member
I'm in Seattle. I am not "creating a set of numbers" - they're actual numbers. Not sure what to tell ya.

The Mini needed $900 for tires to be able to do airport trips, was needing brakes, and was doing a weird idle thing. I was not about to drop $3k into that car. I generally would agree with you, and I'll drive the Insight well beyond when I can rationalize another new car - and that's when I'll stock it away to save for the next one. Two days of driving the Insight now and it is SO much more enjoyable to drive - quieter, rides so much smoother - it's night and day how much more I enjoy it. That in itself is justification for me - I can actually listen to my radio over the road and engine noise. :smiles:
I would have probably spent the money on the Mini but when it comes to replacement I will do what you did. Not buy new, but buy something I’m comfortable in and qualifies for at least 2 ride types better than X. I’m looking at surburbans, and similar cars
 

RideshareUSA

Well-Known Member
I'm not "claiming" to make anything - I'm conveying facts as they pertain to my experience. I track miles from when I leave my house, miles with pax, and miles between pax. I generally only count for revenue/hour purposes from the mile I pick up my first pax until I drop off my last pax. I don't count my miles when I drive one mile before I get a ping or if my last drop is 20 miles away. My logic there is that if I'm a server or if work for the DOT or if I have an office job - none of those jobs pays you to go to/from work so it's not a fair comparison to make. I usually have a ping within 1/2 mile and usually try to drive until a drop is within a couple miles of my house so it doesn't really have much of an impact.

I have a 140,000 mile warranty - that's hardly going to be used in 6-9 months - if it is- then GREAT! If I drive that many miles than I've made far more money than I would have expected. You also must not read well, because I talked about saving the $.58/mile for future maintenance.

I'm 100% sure of my analysis, and there are no rose-colored glasses. If I needed to pay my rent and eat with this gig then yes my perspective would be different - but I am confident that even with a brand new car I can clear $4k/mo. Not nearly enough to fully support ourselves, but I worked 25 years to put me in this position, and my wife has a good job, so I'm not going to put your desperation glasses on.
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For instance, today I went and drove for 2hr40m with no surge and had earnings of $53.87. I drove about 30 miles at 50mpg. It was a very low $/hr but I drove only 30 miles at a cost of less than $2.50.

We can talk all day why I'm willing to do this for $20/hr but that has nothing to do with the cost of the car, because what I make is after the car is already paid for - and I also used the car for a few 1,500 mile personal trips. In three years the car will be paid for and I'll still be making money on it - except I won't because I'll realize it's better to sell it to you and buy another new one.
Your 140,000 mile warranty will quickly be reduced to 0 if the dealer and/or manufacturer ever finds out you are using it for rideshare. Be careful!
 

VictorD

Well-Known Member
Your 140,000 mile warranty will quickly be reduced to 0 if the dealer and/or manufacturer ever finds out you are using it for rideshare. Be careful!
That's not necessarily true. Most manufacturer warranties do not include that exemption. HOWEVER, most extended warranties do.
 

Curiosa71

New Member
Why do experienced drivers think they know better than the newbies? Many of us do tons of research and often we are wrong, and we will realize that so stop bursting our bubble. I have learned in my three months of ridesharing that strategy is vital. You can't just go out driving accepting every request in any direction or distance. I agree with Fuges, a brand new hybrid car makes a difference and yes with tax deductions it will be paid for quickly. But it is hard for some of us that are not tax people to fully understand what that means because is a deductible, non refundable. We like credits, refundable. lol Your math may not be accurate or make sense but your assertions that a hybrid brand new car is a great choice for ridesharing.
 

Fuzzyelvis

Well-Known Member
I find the conversations about a new/used/decrepit to be interesting, and I think I can be empathetic enough to get the different perspectives. There truly isn't a global "right" answer, as it depends on your objective why you drive, your personal financial situation, full/part time, and the market you live in.

Of course driving 40+ hours a week is going to put a beating on your car. But if you're driving 40 hours a week, you're also making more $ and deducting more in mileage (which in theory should cover all costs of a car - payment, gas, maintenance, etc). For sure the mileage deduction would easily cover the cost of ownership, gas, and maintenance of a brand spankin' new car. But, the flip-side is that the cost of ownership is one of the few variables a driver can control to maximize their earnings - in addition being smart and how many hours you drive.

I'm a new driver and spent the first few weeks driving my wife's 2012 Mini Countryman. Fun car and I received tons of compliments and tips were actually not bad. Driving a bit more and maximizing my trips I'm easy at $4k/mo (minimum) - I haven't tried to maximize yet and I'm at $3k/mo.

This Mini I've been driving was in need of new tires, so I was unable to get my TNC (long story about the inspection - approved for Uber but on re-inspection they noticed the tires), so I'm losing a bunch of $ not being able to pick up at the airport. It also gets crappy gas mileage (maybe 22/city) and is a rough ride, so not comfy for me or pax. But it's fun and cute, but I can't hear the radio for how loud the engine and road noise is. It was also seemingly close to needing some considerable work. It just was no longer feasible to expect to drive it for rideshare and be able to maximize earnings and experience.

I generally don't love the idea of buying new cars, but I've done it a few times. My primary vehicle - a Chevy Silverado, was brand new in 2016 because it's my baby and I expect to drive it forever, but driving a car for rideshare... uhhh... not sure I really wanted a new car. But, I also want to enjoy my ride experience as well as my pax, and I want the latest technology and warranty coverage. It would also be our second car and we zip around to neighboring towns and I drive back to MN from WA a couple times a year and wanted comfort and great mileage.

So, I could have bought a used Prius at about any year, mileage, and price I desired, but I didn't desire a Prius. I looked at a few used Accord hybrids but found them to be too price for the value (why pay the same for a 2015 with date tech as what I could buy new for?). So anyway, I settled on a 2019 EX trim Insight with 5 miles on it. Of course I know this will be beat up a bit even as much as I will care for it. But it will also have tangible and intangible rewards that can be quantified - and I'm also comparing it to the car I was currently driving, not an equivalent hybrid I could have picked up for $10k with no warranty, dated tech, and just plainly not as enjoyable to drive professionally or personally.

So, doing the mileage reimbursement math from the government at $.58/mile, assuming ~2,000 miles/mo, that's a $1,160/mo allowance for the car - payment, gas, and maintenance. After 3 years that's $41,760. Please don't tell me not to use that allowance because if I didn't you'd tell me I wasn't making enough of an accommodation. So, we'll just go what the government is giving us to drive the car. At the end of 3 years the car is paid for, gas is paid for, maintenance is paid for, and I got to use it for personal use and save a ton of money in gas over using the old Mini.

Again - I totally understand that many people are driving to make their living. If so, of course you could make another $400/mo without a car payment - but you also may have more in maintenance, and if you're not driving a hybrid - but rather a Civic or Corolla or Camry that's not a hybrid, you're leaving a ton of money on the table in gas savings. So I can make that argument right off the top. I'm fortunate in that I'm 50, I've had a decent career in tech and am just taking a bit of a sabbatical and my wife has a good job, so I am thankful I can look at it with a different perspective.

So, if I drive ~2,000 miles/mo and have revenue of $4k/mo, that's $2,980 each month left after ALL brand new car expenses and gas (conservatively). What am I missing? I get it that if I'm paying the rent and feeding my family (I do have three kids in college) with it that the extra $400 car payment in my pocket would be super important, but it may be offset with worse gas mileage and/or lower tips, so does it really make that much of a difference?

I have budgeted an additional $300/mo for incidentals - washes, gum/mints, dashcam, etc - but that still doesn't have much of an impact on my objective to drive. And additionally I'm then driving a "free" personal car and I'm far more comfortable and enjoying the job more. Sure I can make a boatload more back in tech, and I could make more as a bartender down the block - but I wouldn't have the flexibility to fit my lifestyle and my other projects/biz.

So when I cruise by you in my Insight I couldn't care less what you're thinking. Think I'm a moron, but I'm a very not bitter person enjoying myself.
The government doesn't REIMBURSE you. You're confusing tax deductions with tax credits.
 

Bbonez

Well-Known Member
Is Seattle always surging or something? $1.11 per mile is the base rate how are you doing $2 per including dead miles?

The Mini needed $900 for tires to be able to do airport trips, was needing brakes, and was doing a weird idle thing. I was not about to drop $3k into that car.
You dont need to buy the most expensive tires on the market, $300 tires would have been fine. Your idle problem could have been as simple as new plugs less than $20, and brakes are cheap.
 
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