Where's the money $$$$

tentony

New Member
Im a newbie, a week with about 20 rides to my credit now. Been all over town different days different times.
On my first couple of days I had 3 , three , $2.50 dollar, not peso rides. A dollar is like a peso nowadays, gets you a stick of chewing gum. Back to my story , I wish it was fiction but its true. This is how uber broke it down;

base fee 1.
distance 1.72 miles .85
time 6.51 .89
booking fee 1.90
service fee(.25) .84
subtotol $ 5.84
My earnings $$$$$$$$$$$ $ 2.51 $$$$$$$$

On an average the long trips in our small town about 20 miles. I net$6.50
Then deduct gas -2.00
that leaves $4.00
not including the cost of gas to get there or car depreciation and maintenance
Lets say -1.00

That leaves me $3.00 an for a half hours work. $6.00 if I did two crosstown hauls in an hour.

How about that for a part time job!! Im not kidding, everything I say is verifiable.
 
I don't get your point about pesos?
Are you comparing the peso to the U.S. dollar, because it's more comparable to the nickle.
Or is mentioning the peso a racial or ethnic comment?

I didn't understand.
 
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Iraqvet505

New Member
You need to give it some time. I literally have been on the clock tonight for a little over an hour and have an estimated payout for today so far at $28.47 estimated payout. Get a fuel efficient vehicle, go to some populated areas and sit. You won't get rich but you should make about $250-350 a week easy. Hope this helps
 
Had an Uber driver tell me Monday he averages $900 a week before expenses. Starts his day at 5 A.M. and works until around 5 P.M.
I do my driving between classes, so it's erratic.
 

Iraqvet505

New Member
Bottom line is, YOU NEED TO HUSTLE. Learn how to work the Surge (when you can) and just relax. Offer amenities and rate Pax accordingly. You will find numerous threads on here to help out.
 

raquela2020

Member
I know the short fares sometimes wear you down. Been there...and no doubt will be there again...BUT, you will get the long trips that ultimately DO make this gig pay off. You have to just hang in there. And then the times arrive where you're $20+ an hour (or more :smiles: for the day and you think: Wow! This is pretty cool :smiles:
 

Benz Guy

New Member
There is NO money to be made by driving for uber... you will only have immediate cash on hand in exchange for cost of future expenses:

for every $100 in gross fare uber takes $25, NM Gross Receipts Tax is $7.25, you will drive around 150 miles (lose around $0.54 p/mile in the long run for gas, tires, maintenance, vehicle depreciation, etc... which is approx -$81.00 +/-)... so:

out of $100 in gross fare, uber gets $25 (not including SRF)
State of NM gets $7.25
your vehicle costs you $81 in gas, tires, maintenance, insurance, high mileage depreciation, etc
your net for each $100 in gross fares - 25% uber - 7.25% GRT - $81 mileage = a total loss of $13.25 for every $75.00 in payout received

make a payout of $500 in a very good week, you actually will lose over $88 by working for uber (you will probably drive over 1000 miles in the week you receive a $500 payout)... short math $0.54 x 1000 miles = $540 in vehicle use cost + the $48 GRT equates to your cost of $588 to make the $500 which brings us back to the "why am I driving for uber" question...?

p.s., the good news is you will not need to worry about self employment, or federal/state income tax as your schedule C will NOT show any profit whatsoever
 

tomabq

Active Member
I know the short fares sometimes wear you down. Been there...and no doubt will be there again...BUT, you will get the long trips that ultimately DO make this gig pay off. You have to just hang in there. And then the times arrive where you're $20+ an hour (or more :smiles: for the day and you think: Wow! This is pretty cool :smiles:
Where the heck do you get $20 an hr? I've been driving over 2 years here in Albuquerque and unless your driving part time and cherry picking, the average is $10-13 hr. before expenses. Every driver I know is the same. You have your good weeks and you have your bad weeks.
 

Benz Guy

New Member
Where the heck do you get $20 an hr? I've been driving over 2 years here in Albuquerque and unless your driving part time and cherry picking, the average is $10-13 hr. before expenses. Every driver I know is the same. You have your good weeks and you have your bad weeks.

I agree... you actually do better than I... my worst week was just over $6 p/hour (learning the uber way), and my best so far has only been $10.50 per online hour average gross payout... factor in true expenses so far (actual money spent for gas, start-up stuff, and some intermediate preventive maintenance work) my QuickBooks self-employed app shows me at a loss of $183 after 5 weeks (gross payout of $1869 and actual expenses of $2052)... drop the PM and start-up "stuff", I would have arrpox $1400 net income before calculating in vehicle long term expenses... I drove 3955 miles to make the $1869... IRS deduction of $2135 (3955 x 0.54) means no self-employed/federal/state income tax due so far, and a "business" loss of $266 bucks - wow, and that's before the Gross Receipts Tax I owe NM... my first month sucks
 

raquela2020

Member
Where the heck do you get $20 an hr? I've been driving over 2 years here in Albuquerque and unless your driving part time and cherry picking, the average is $10-13 hr. before expenses. Every driver I know is the same. You have your good weeks and you have your bad weeks.

I only drive early on weekends. There's usually surge involved. Is that cherry picking, part time? I guess so, but this, as we all know, probably shouldn't be a full time thing. I was trying to be encouraging, not pessimistic....
 

UberCape

New Member
If working on a operating loss why most of you keep driving? We all know this is a temporary solution to a situation on short on cash, not a way to make living. If u r not happy stop driving and don't discourage others to give it a shot.
 

Benz Guy

New Member
If working on a operating loss why most of you keep driving? We all know this is a temporary solution to a situation on short on cash, not a way to make living. If u r not happy stop driving and don't discourage others to give it a shot.

I believe the OP was (as I am) trying to be honest with newbies... there are so many horror stories on this site wherein beginners are unknowing about the reality of the rideshare business... and have misconceptions about how much money one can make. One of the biggest mistakes is signing up new drivers... sure you make a few extra bucks for the referral - but they are flooding the streets with new drivers and thus reducing each others (and their own) potential customer base. I'm retired, so I can make some pocket change instead of sitting at home... however, the near term "pocket change" will be used eventually on vehicle repairs and/or depreciation loss when I sell the car... so, even the "temporary solution to a situation on short of cash" will be a failure in the long run... there is absolutely no business model where rideshare driving will actually produce long term income (outside of website blogs and referral type structures)
 
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