Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Drive for Uber or Lyft?
Old 10-31-2018, 10:29 AM   #1
Thinks s/he gets paid by the post
GravitySucks's Avatar
 
Join Date: Feb 2014
Location: Syracuse
Posts: 2,087
Drive for Uber or Lyft?

Has anyone tried driving for Uber or Lyft?
Or any gig economy type jobs.
An acquaintance was driving to save up for a trip to Hawaii. She did make enough that she's still driving after returning, but she's not the type that I trust her numbers.
Just thinking it might be a way to spend a couple hours a week and pick up some fun money.
So anyone ever do it? Share your experience.
__________________

GravitySucks is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 10-31-2018, 10:42 AM   #2
Thinks s/he gets paid by the post
 
Join Date: Mar 2004
Posts: 2,858
I have not. But I have taken Uber about 20-25 times in various cities around the country. I usually chat-up the driver and eventually direct the conversation to how long they've been driving, how they like it, etc.

Most of the longer-term drivers seemed unhappy with the mileage and wear and tear on their vehicle. They also expressed that they weren't making what they thought they would.

Lately, I've noticed a shift in the drivers and cars. Some cars are not the late-model ones that they are supposed to be. And some of the drivers seemed to not be of the same caliber as the earlier ones. 'nuff said.

omni
__________________

omni550 is offline   Reply With Quote
Old 10-31-2018, 11:13 AM   #3
Thinks s/he gets paid by the post
Lakewood90712's Avatar
 
Join Date: Jul 2005
Posts: 1,967
Uber drivers have a huge online forum , not run by Uber.

Never driven for either. Most of the drivers I have gotten drive for both Uber and Lyft, and none have good things to say about Uber
Lakewood90712 is offline   Reply With Quote
Old 10-31-2018, 01:15 PM   #4
Thinks s/he gets paid by the post
Red Badger's Avatar
 
Join Date: Jan 2017
Location: Piedmont Region
Posts: 1,695
It's been a mixed bag of drivers - mostly positive and much better than most cabs. Probably used Uber 40-50 times.

I would never be a driver. I suspect when maintenance, gas, depreciation etc are truly factored in, the drivers are probably breaking even. Probably. Making a "living wage?" Not a chance.

I think Airbnb/Vrbo is a much more lucrative value proposition. But, I'm not looking for income (or being a landlord), so I'll just be a customer.

We seldom use Uber eats or other delivery options. We just aren't into food with FF miles.

I an a fan of on demand services and hope to see other creative disruptions in our service economy.
__________________
Never let yesterday use up too much of today.
W. Rogers
Red Badger is offline   Reply With Quote
Old 10-31-2018, 01:42 PM   #5
Moderator
Jerry1's Avatar
 
Join Date: Nov 2014
Posts: 2,676
I don’t know anyone that drove for them except one guy I worked with. I think he had the perfect situation and represented what ride sharing was all about.

Between where he lived (rural area) and where he worked (metro area) was the main airport. Pretty much any morning he could pick up a fair going from the airport to downtown. He was going exactly that way anyway so it was truely almost 100% profit. Probably more than 100% depending on how he handled his taxes (I don’t know that). He could also frequently take someone from downtown to the airport on his way home.

I think otherwise, the true cost is enough to make it not worth the effort.
__________________
Every day when I open my eyes now it feels like a Saturday - David Gray
Jerry1 is offline   Reply With Quote
Old 10-31-2018, 01:44 PM   #6
Moderator
Walt34's Avatar
 
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 19,888
Quote:
Originally Posted by Red Badger View Post
I would never be a driver. I suspect when maintenance, gas, depreciation etc are truly factored in, the drivers are probably breaking even. Probably. Making a "living wage?" Not a chance.
There was a thread a few years ago that discussed the numbers on driving for Uber (can't find it now) and that was pretty much the conclusion. So if the driver is making anything, it isn't much. Flipping burgers pays much better, net.
__________________
I heard the call to do nothing. So I answered it.
Walt34 is offline   Reply With Quote
Drive for Uber or Lyft?
Old 10-31-2018, 03:20 PM   #7
Thinks s/he gets paid by the post
 
Join Date: Aug 2004
Location: Laurel, MD
Posts: 4,347
Drive for Uber or Lyft?

I looked into it, lurked on the forum, I know two drivers and Iíve chatted up my drivers while riding. Iíve come to the conclusion that the real business model is based on driver turnover. After a while most drivers are not satisfied with the income vs time required and extra wear and tear. By the time they figure that out and move on, someone else comes in to give it a go. The successful drivers find a niche like driving during their regular commute, cruising the bar hoppers frequented by millennials and students, etc. my good friend did it between jobs and now only drives to get money for a trip or big bill thatís due.
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
jazz4cash is offline   Reply With Quote
Old 10-31-2018, 03:31 PM   #8
Moderator
sengsational's Avatar
 
Join Date: Oct 2010
Posts: 5,529
I thought, very briefly, about driving, but decided against it.


My motivation would be just to interact with random people; I thought it might be fun. If I broke even, that would be enough.


The problem, which is often the problem with doing stuff that involves other people, is that while most are honest, there might be that one that finds a way to wreck your positive vibe by filing a law suit or something. Even though I'm sure Uber or Lyft have protections (didn't research), I think it would be too much of a risk.
sengsational is offline   Reply With Quote
Old 10-31-2018, 03:41 PM   #9
Full time employment: Posting here.
Birdie Num Nums's Avatar
 
Join Date: Mar 2010
Location: Seattle-ish
Posts: 839
Quote:
Originally Posted by Walt34 View Post
There was a thread a few years ago that discussed the numbers on driving for Uber (can't find it now) and that was pretty much the conclusion. So if the driver is making anything, it isn't much. Flipping burgers pays much better, net.
Plus, your retirement nest egg isn't exposed to as much legal liability flipping burgers vs. driving people around who may get injured or killed while under your care.
Birdie Num Nums is offline   Reply With Quote
Old 10-31-2018, 03:45 PM   #10
Full time employment: Posting here.
The Cosmic Avenger's Avatar
 
Join Date: May 2016
Location: Mid-Atlantic
Posts: 643
A few people touched on it -- the problem with "ridesharing" is that, instead of the typical business model, the app company takes a cut but all the hidden costs (like vehicle maintenance, wear, registration) are on the driver instead of a taxi company, who takes a cut and pays for many actual long-term expenses.

This video explains some of the issues really well:
__________________
Looking to FIRE in the mid-2020s, which would be our mid-50s.
The Cosmic Avenger is online now   Reply With Quote
Old 10-31-2018, 04:01 PM   #11
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Mar 2011
Posts: 5,866
My best friend tried Uber more out of curiosity than anything else. Claims he made pretty good money.

He quit after a month when he realized that 90% of his customers were 27 year old women.

Being alone in the car with them, it dawned on him that he was just one false accusation away from big problems.
__________________
Living well is the best revenge!
Retired @ 52 in 2005
marko is online now   Reply With Quote
Old 10-31-2018, 04:07 PM   #12
Thinks s/he gets paid by the post
Red Badger's Avatar
 
Join Date: Jan 2017
Location: Piedmont Region
Posts: 1,695
[QUOTE=The Cosmic Avenger;2134602]A few people touched on it -- the problem with "ridesharing" is that, instead of the typical business model, the app company takes a cut but all the hidden costs (like vehicle maintenance, wear, registration) are on the driver instead of a taxi company, who takes a cut and pays for many actual long-term expenses.


I do tip Uber drivers rather nicely, because I get the math (a couple years back, Uber added a tip feature, but initially, the company was adamant against tipping).

But yeah, their business model seems rather predatory....
__________________
Never let yesterday use up too much of today.
W. Rogers
Red Badger is offline   Reply With Quote
Old 10-31-2018, 05:05 PM   #13
Thinks s/he gets paid by the post
GravitySucks's Avatar
 
Join Date: Feb 2014
Location: Syracuse
Posts: 2,087
Figured these would be the responces.
Didn't consider the liability I'll bet my umbrella policy would not payoff if I was working or the premium would soar.
Uber puts up a $1m liability but I can see that getting eaten up in one bad accident.

It would just be for the social interaction and fun money as I'm not even withdrawing what I did last year let alone spending at my new SWR level.

Meh. Rainy days. Need to get out more.
__________________
ďNo, not rich. I am a poor man with money, which is not the same thing"
GravitySucks is offline   Reply With Quote
Old 10-31-2018, 06:05 PM   #14
Thinks s/he gets paid by the post
 
Join Date: Jun 2016
Posts: 2,916
My wife and I personally use Uber all the time. For a night out, it sure beats the possibility of a DUI. Holiday party season is right around the corner. Something to keep in mind.
As far as driving. I have an employee who drives for Uber. He takes rides before work, usually an airport run and rides right after work. He told me he makes about $40 a day for 2 hours of work.
COcheesehead is offline   Reply With Quote
Old 10-31-2018, 06:14 PM   #15
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 25,133
Quote:
Originally Posted by sengsational View Post
I thought, very briefly, about driving, but decided against it.

My motivation would be just to interact with random people; I thought it might be fun. If I broke even, that would be enough...
I do not enjoy driving, particularly on city streets. If I needed money, this would be the last thing I do.

About interacting with people, I am an introvert and do not need to see more people.

I read a while back about rich young people in China who drove just to amuse themselves to see people's reaction when their Uber driver showed up in an exotic car like a Ferrari or Maserati.
__________________
"Old age is the most unexpected of all things that can happen to a man" -- Leon Trotsky
NW-Bound is offline   Reply With Quote
Old 10-31-2018, 06:21 PM   #16
Thinks s/he gets paid by the post
 
Join Date: Jun 2016
Posts: 2,916
I had an actor pick us up once. I googled him during the ride and yep, there he was in movies with folks like John Travolta. I also had a driver ask me to tell him a story. Said he collected them.
COcheesehead is offline   Reply With Quote
Old 10-31-2018, 07:37 PM   #17
Recycles dryer sheets
 
Join Date: Oct 2017
Location: Orlando
Posts: 80
Drivers are protesting for limits in Chicago

This really tells a story on income if they want government protection to juice their wages.

I am no fan of taxis but I always thought they payed a fee and abided by certain rules in exchange for limited competion via city licensing.

This is incredibly ironic that both ride share companies destroyed a taxi franchises (purchased medallions) and now their drivers want limits - maybe they can institute medallions too and another set of drivers/technology can destroy them?
Retiree_Having_Fun is offline   Reply With Quote
Old 10-31-2018, 08:00 PM   #18
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 15,294
Quote:
Originally Posted by sengsational View Post
I thought, very briefly, about driving, but decided against it.


My motivation would be just to interact with random people; I thought it might be fun. If I broke even, that would be enough.


The problem, which is often the problem with doing stuff that involves other people, is that while most are honest, there might be that one that finds a way to wreck your positive vibe by filing a law suit or something. Even though I'm sure Uber or Lyft have protections (didn't research), I think it would be too much of a risk.

Then you got the other side of the equation.... where the driver accuses you of a crime....


My daughter was supposed to be getting a new soccer coach... but the day before he was to start he was arrested for pulling a gun on an Uber driver... got booked and charged with a crime... missed a whole season of work... he is now the coach as there was no gun...


I wanted to ask what happened and if he sued the driver and/or Uber, but my DW said to keep my mouth shut...
Texas Proud is offline   Reply With Quote
Old 11-01-2018, 05:09 AM   #19
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Mar 2011
Posts: 5,866
Quote:
Originally Posted by sengsational View Post


The problem, which is often the problem with doing stuff that involves other people, is that while most are honest, there might be that one that finds a way to wreck your positive vibe by filing a law suit or something. Even though I'm sure Uber or Lyft have protections (didn't research), I think it would be too much of a risk.
That was my friend's concern. Every one of his passengers was a 26-27 year old woman that he was alone in the car with. He wasn't worried about 'wrecking his vibe' or even the legal cost (which Uber would cover) but more about the social implications that a false accusation would have against his life/marriage.

Quote:
Originally Posted by COcheesehead View Post
I have an employee who drives for Uber. He takes rides before work, usually an airport run and rides right after work. He told me he makes about $40 a day for 2 hours of work.
My friend kept careful records and claimed he was making $25 an hour, not counting gas and maintenance. He usually only turned on his meter when he was heading home from somewhere so he'd be going in that direction most times anyway.
__________________
Living well is the best revenge!
Retired @ 52 in 2005
marko is online now   Reply With Quote
Old 11-01-2018, 05:40 AM   #20
Recycles dryer sheets
 
Join Date: Oct 2017
Location: Orlando
Posts: 80
Quote:
Originally Posted by marko View Post
.... about the social implications that a false accusation would have against his life/marriage.
Not sure if this is legal but a dashcam pointed INSIDE the car would resolve any disputes.

Here is a link to two camera dashcam - company recommends them for unruly passengers, accidents, accusations.
__________________

Retiree_Having_Fun is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Being dragged kicking and screaming into the 21st century ( Uber and Lyft) Lakewood90712 Life after FIRE 52 03-27-2018 05:13 PM
Uber-nomics imoldernu Other topics 3 01-13-2015 08:29 AM
My concession to the possibility that the uber-bears are right Hamlet FIRE and Money 6 10-12-2008 10:38 PM
?? for uber-savers, non-deductible IRA to Roth IRA in 2010 LOL! FIRE and Money 8 12-21-2006 12:25 AM
For CFB and other Uber Geeks cube_rat Other topics 6 03-17-2006 12:43 PM

» Quick Links

 
All times are GMT -6. The time now is 01:55 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2019, vBulletin Solutions, Inc.