Thinking of drving for Uber, Lyft or GrubHub?

[.455_Hunter]

I see many Uber and Lyft vehicles here in Boulder using rental cars with fleet plates. If you do it full-time, that might be the best way to minimize any unforeseen costs.

[Irving]

My Caravan has 240,000 miles on it with no major repairs, in my opinion. I've certainly been quoted some several hundred dollar repairs, only to find I can do it myself for under $100. I suppose if you never work on your car it could be more. I don't think I'm a good example of the average person though. I have three old vehicles that are paid off so I can usually take my time fixing them. Which is also why I favor delivering food instead of people, no one cares what your vehicle looks like. Also the people part.

Also, I treat vehicles as depreciating liabilities (not really assets), with the intention of driving them until they don't drive anymore. I think it's insane to own a vehicle used as a daily driver and care about door dings or hail damage; but I also recognize that most people aren't like that. For me, resale value has never even been a consideration on a vehicle for me, so again I'm a poor example. Anyone using their vehicle for work, and thinking that they will keep it nice and maintain resale probably isn't thinking very hard about what they're doing though.

[mpatch]

It would be interesting hear from some actual Uber/Lyft drivers. I've had a handful of poker dealers go part time because they make more driving than dealing, and dealers are making $25+ per hour between minimum wage and tips.

I'm guessing that's because a lot of people are idiots and don't understand expenses, all they see is the money they're bringing in. Factor in all the vehicle expenses and self employment taxes most drivers don't make much at all. It's like a minimum wage job that you can set your own hours. As a part time gig you can make decent money if you are very selective about where and when you work, weekend bar close, major events, etc.
Almost every driver I have had lately drives for both Uber and Lyft along with one of the food delivery services.
I have had a few that are older retired folks that do it just to stay busy and get out of the house.

[ray1970]

I used Lyft a bit in Seattle recently and all of my drivers were of foreign descent. Most of them had names with lots of consonants and very few vowels and spoke very poor English.

I will say that most of the Uber and Lyft rides I have taken were pretty uneventful. I can't say the same about the cab rides in Las Vegas.

[clodhopper]

Irving, does your personal insurance cover you while you are doing deliveries or do you have to pay for additional insurance?

[Irving]

That's what I was saying about in the past they would cover you, then drop you. Now it seems like some companies will say you lied on your application and deny the claim. Not all companies are the same, and NONE of them would tell you that they'd actually cover you. There is a lot of nuance in that situation.

[MrPrena]

I used Lyft a bit in Seattle recently and all of my drivers were of foreign descent. Most of them had names with lots of consonants and very few vowels and spoke very poor English.

I will say that most of the Uber and Lyft rides I have taken were pretty uneventful. I can't say the same about the cab rides in Las Vegas.

King county uber and Lyft driver talk was another factor that I would not live there. They were explaining homeless issues (as we have a thread about this while back) on i5 while going to sea-tac.

[ray1970]

The grub hub or Uber eats drivers are busy tonight. Saw a splattering of them at Noodles and Company.

[Martinjmpr]

I'm guessing that's because a lot of people are idiots and don't understand expenses, all they see is the money they're bringing in. Factor in all the vehicle expenses and self employment taxes most drivers don't make much at all. It's like a minimum wage job that you can set your own hours.

See, this is what I was thinking too. If you only look at how much is going into your bank account from driving, you aren't looking at the whole picture. It costs money to drive for Uber or Lyft. The money you "make" isn't what gets deposited into your account. It's what gets deposited into your account MINUS your fuel, maintenance, self employment tax, the bottled water you buy for customers, and if you are accounting honestly, the time you spend cleaning, vacuuming, waxing and washing your car to make it appealing to riders and doing the paperwork like your taxes.