And that was a Toyota Corolla, supposedly indestructible (don't forget to add in the 5 year cost of gas - again worth another whole car!)Ĭlick to expand.You know why they don't wanna do this? Because there's too many $2.40 fares and they know it. I owed no taxes, but the 5 year cost of maintenance was darn near the original price of the car. all for about 60 cents a mile gross before expenses. I drove so much even struts and motor mounts had to be replaced. The immediate cash flow is good, but over time you start noticing a huge drag on your net profit as tires, brakes, fluids, belts, pumps, filters, plugs, emission systems and joints start going out. I've put 300,000+ miles on a single car working an old courier job. Then your car should still be in great condition and worth something in a year or two.Ĭorrect! If someone doesn't care about dead miles, they can boost their gross income by taking distance runs, dropping off and going back empty to pick up again.
It can be done by combining carefully planned guarantees, surge, working multiple gigs and absolute minimum dead miles. I don't make as much, but every mile that goes on the car is profitable. Which is why I purposely limit miles (and cash flow) to preserve some asset longevity.
It may not be apparent for months or years, but that's real equity being drained at an alarming rate. The value of the car is being chewed up so fast at 50 cents per total mile that it should be considered extortion to have toĮke a living out of that and pay other bills with the money. There's no way to win at $1.00 / mile with a 50/50 paid : dead mile ratio. And that was a Toyota Corolla, supposedly indestructible (don't forget to add in the 5 year cost of gas - again worth another whole car!)
Until then I will keep running both apps to keep the rides going.Ĭlick to expand.Correct! If someone doesn't care about dead miles, they can boost their gross income by taking distance runs, dropping off and going back empty to pick up again. I will keep on pushing until things change for the better and hope for close together rides.
#Best time to drive for uber in dallas driver
But it's difficult for an X driver with the current rate structure. If you don't drive around trolling, but stay in one place until you get the next call, you are saving yourself money.īusiness management dictates reduce expenses, increase profit. Your costs may be less than the IRS number and that is good. You have to have a ride of at least 11 miles to breakeven. Now if you drive 4 miles to a pickup, you are $2.30 behind before you throw the switch. That means a $.225 profit per mile on the ride. The standard IRS deduction is $.575 per mile. Lets forget about the time factor for the moment (which works out to $9/hr).
#Best time to drive for uber in dallas drivers
That being said, UberX drivers are currently getting $1/mile of which Uber takes 20 %. I did a Dallas Saturday night and I will never do it again. While I am making some good cash some days others suck. While I am not one for negativity, I am an active driver who puts in anywhere from 7 - 12 hours a day driving.
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