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Will Uber pay me enough for a new car each year?

mileena

New Member
Hi, I am thinking of buying an AWD SUV or minivan (8-passenger) and joining UberXL and UberSKI. As I am in a border area, I'd like to work both Nevada (Carson City and Reno) and California (South Lake Tahoe, Tahoe City, Truckee). I plan to work 40 hours per week, from 8 to 5 PM, Monday through Friday.

I talked to two part-time Lyft retired senior citizen drivers who average 50,000 miles a year for their jobs. One makes from $300 to $1000 a month she told me. I also read a comment from a full-timer who puts 100,000 miles a year on his car. At that rate, you will need a new car every year or two. Will I make enough money to pay for a new car every year or two if I join? That is my primary reason for joining: to always drive the newest car, just like I get a new cell phone each year.
 

Over/Uber

Well-Known Member
Better question is why buy a new car for Uber/Lyft?

Most will tell you it makes better sense to buy preowned and pretty much figure on wearing it out if you full time.

Keep monthly car payments low-to-none. More net cash.

Or, use the rideshare gig to just make your payments on a newer car and drive a nicer car, understanding it will take a beating from this work.

Do you plan to use it for income beyond a car payment?
 

mileena

New Member
  • Thread Starter Thread Starter
  • #8
Better question is why buy a new car for Uber/Lyft?

Most will tell you it makes better sense to buy preowned and pretty much figure on wearing it out if you full time.

Keep monthly car payments low-to-none. More net cash.

Or, use the rideshare gig to just make your payments on a newer car and drive a nicer car, understanding it will take a beating from this work.

Do you plan to use it for income beyond a car payment?
Thanks Over/Uber for your post. Well, I am looking for a new car anyway. Was going to get a Honda Odyssey LX minivan for around $30,000 regardless. I was planning on keeping the car for 6 years the trading it in or selling it. Then my Lyft driver told me yesterday I should become a Lyft/Uber driver since I could be UberXL. I said good idea. My reasoning is this would allow me to get a new car more often.

But to answer your question, no it won't be used to make money. I have a 2007 Toyota Sienna beater with 281,000 miles, but it is trash and won't work for Uber as it is on its last legs and has body damage.
 

Over/Uber

Well-Known Member
So, reading between the lines, are you saying you are considering part time rideshare to support newer car payments only, that you don’t need it for a source of income for other bills?
 

mileena

New Member
  • Thread Starter Thread Starter
  • #10
So, reading between the lines, are you saying you are considering part time rideshare to support newer car payments only, that you don’t need it for a source of income for other bills?
Well, I am paying for the new car in cash, so no payments. But I would like a new car more often, say every year or two. Especially if Uber is going to add 100,000 miles extra on my car per year. Who wants to drive a car with 300,000 miles? I don't necessarily need the extra income, although that would be nice too. ;-)
 

1.5xorbust

Well-Known Member
Well, I am paying for the new car in cash, so no payments. But I would like a new car more often, say every year or two. Especially if Uber is going to add 100,000 miles extra on my car per year. Who wants to drive a car with 300,000 miles? I don't necessarily need the extra income, although that would be nice too. ;-)
Just do uber for fun. You might make some great new social contacts and a few bucks to boot.
 

Over/Uber

Well-Known Member
If you want to pay cash for a new car every year, it will take full time ride share to net that much cash.

Buy new every 2 years could be done with a partime schedule, depending on your market.

I do it full time and avareage around $.90 a mile gross driving 50k-60k miles per year. Your partime acquaintances making $3500-$12000 a year at 50k miles are way under utilizing and working for considerably less than minimum wage.
 

mileena

New Member
  • Thread Starter Thread Starter
  • #13
If you want to pay cash for a new car every year, it will take full time ride share to net that much cash.

Buy new every 2 years could be done with a partime schedule, depending on your market.

I do it full time and avareage around $.90 a mile gross driving 50k-60k miles per year. Your partime acquaintances making $3500-$12000 a year at 50k miles are way under utilizing and working for considerably less than minimum wage.
Thanks so much! Now I am inspired!

Just do uber for fun. You might make some great new social contacts and a few bucks to boot.
I will start that was, as a trial, and see how it progresses!
 

mileena

New Member
  • Thread Starter Thread Starter
  • #15
You’ll end up in the red over time.

And there’s almost no reason to get a new car every year except vanity.


Especially one that’s going to be put to full time rideshare use. It will just depreciate too fast.
Thanks. I really want to drive Uber. Full timers here have said they put on 100,000 miles a year, so that is normal. And cars really don't last past 200,000 miles, so that means a new car every two years.

I also have an inferiority complex since I drove a damaged car for 10 years, and kids always made fun of it when they walked buy. 5 years olds saw it and shouted repeatedly "look mom, that car is BROKEN!" I couldn't even go through a car wash or add windshield washer fluid due to a leak from the damage.

So with my new car, darn right I am going to be ultra vane. And I am proud to be that way.
 

ABC123DEF

Well-Known Member
Hi, I am thinking of buying an AWD SUV or minivan (8-passenger) and joining UberXL and UberSKI. As I am in a border area, I'd like to work both Nevada (Carson City and Reno) and California (South Lake Tahoe, Tahoe City, Truckee). I plan to work 40 hours per week, from 8 to 5 PM, Monday through Friday.

I talked to two part-time Lyft retired senior citizen drivers who average 50,000 miles a year for their jobs. One makes from $300 to $1000 a month she told me. I also read a comment from a full-timer who puts 100,000 miles a year on his car. At that rate, you will need a new car every year or two. Will I make enough money to pay for a new car every year or two if I join? That is my primary reason for joining: to always drive the newest car, just like I get a new cell phone each year.
That's cute ... *chuckles*
 

RedANT

Well-Known Member
Hi, I am thinking of buying an AWD SUV or minivan (8-passenger) and joining UberXL and UberSKI. As I am in a border area, I'd like to work both Nevada (Carson City and Reno) and California (South Lake Tahoe, Tahoe City, Truckee). I plan to work 40 hours per week, from 8 to 5 PM, Monday through Friday.

I talked to two part-time Lyft retired senior citizen drivers who average 50,000 miles a year for their jobs. One makes from $300 to $1000 a month she told me. I also read a comment from a full-timer who puts 100,000 miles a year on his car. At that rate, you will need a new car every year or two. Will I make enough money to pay for a new car every year or two if I join? That is my primary reason for joining: to always drive the newest car, just like I get a new cell phone each year.
Yes! If you drive full time you CAN afford a new car every year. You probably won't be able to afford much more, but at least you'd be donating your time to help the riders in your area afford dirt cheap rides so that they can turn a profit instead of you.
 

Syn

Well-Known Member
Somebody told you that they drive 50,000 miles per year; yet, they make only $300-$1000 per month???
 

mileena

New Member
  • Thread Starter Thread Starter
  • #19
Somebody told you that they drive 50,000 miles per year; yet, they make only $300-$1000 per month???
Yes. She was a senior citizen driver who does both Lyft and Uber in a small town.

Yes! If you drive full time you CAN afford a new car every year. You probably won't be able to afford much more, but at least you'd be donating your time to help the riders in your area afford dirt cheap rides so that they can turn a profit instead of you.
Thank you! I have been hearing so much contradictory information about Uber and Lyft that it is hard to figure everything out. I don't mind if I don't make a large income, or any income at all, just so I can buy a new car each year or two and pay for insurance, gas, registration, etc. Plus less income means less Federal taxes! Plus, I live in Nevada, which has no state income tax!
 

tohunt4me

Well-Known Member
Hi, I am thinking of buying an AWD SUV or minivan (8-passenger) and joining UberXL and UberSKI. As I am in a border area, I'd like to work both Nevada (Carson City and Reno) and California (South Lake Tahoe, Tahoe City, Truckee). I plan to work 40 hours per week, from 8 to 5 PM, Monday through Friday.

I talked to two part-time Lyft retired senior citizen drivers who average 50,000 miles a year for their jobs. One makes from $300 to $1000 a month she told me. I also read a comment from a full-timer who puts 100,000 miles a year on his car. At that rate, you will need a new car every year or two. Will I make enough money to pay for a new car every year or two if I join? That is my primary reason for joining: to always drive the newest car, just like I get a new cell phone each year.
Not ANYMORE.
YOU CAN ONLY WORK 12 HOURS A DAY NOW !

Be lucky to afford tires.

THEN . . .UBER THREW " EXPRESS POOL" at us.
To FURTHER RUIN THE MARKET !


LEARN TO STEAL !
( like Uber)
 
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