I signed up and drive for uber in a relatively small college town. It's fun on late nights and weekends to pick up football fans, and the occasional drunk college kids ...
First week I made 75 bucks in about 4 hours gross. After taxes and fuel it's probably more like minimum wage or 10 bucks per hour net.
I picked up a group of 5 girls and one girl barfed in my car. Oh no ....
Uber paid me a 200 dollar cleaning fee.
I usually only take a fare when it's "surge" pricing which is anywhere from 1.2x to 4x the "normal" rate. Not enough money to drive during "normal" rates. Surge pricing is when it's raining or late at night as the bars are closing.
My strategy: Only Uber When the gas gauge is on 1/4, I take enough fares to pay for the refill of the gas tank. Then I'm done for the day or week.
Usually I can earn 15 bucks per hour. Sometimes if you get the surge pricing just right , you can make 1 trip in 10-15 minutes and earn the 15 bucks and stop driving and fill the gas tank I've never been tipped but that's coz it's a college town and students have no money - my guess is their parents put money on their uber account..
I just Can't see people making a living doing this. Too much depreciation wear and tear on their auto over the long run. Then there's taxes and tires and fuel Etc.
Uber provides 1 million liability cover of you have an accident while carrying a passenger. A personal umbrella and your own auto insurance should cover you too.
For me it's just a fun way to chat with people to know what's happening around town and to pay for my gas and as a service to ensure they get home safely.
That's it.
Not a good way to earn a living. I would bet that garage saleing and Selling junk on eBay is more consistent and profitable for a side hustle if you're looking for one.
And what do u think -- possible masters degree thesis is going to be on whether uber drivers or panhandlers with the cardboard sign net more money on a per hour basis ....