took an uber yesterday and the driver was totally fired up about driving for uber.

He said his biggest ride he drove someone for 3 hours in one direction, and uber paid him $300 for the trip.

So at first you're like, OK, $100/hr to drive someone aint bad....

*BUT...

Let's say he was going an average of 50mph for this 3 hour ride, so he did 150 miles ONE WAY. Obviously he didn't find anyone at that destination to drive all the way back home, so he ultimately had to traverse 300 miles total to complete his 150 mile mission.

his 3 hour drive is actually a 6 hour drive because he had to come all the way home.

the IRS estimates that your cost of ownership on the average vehicle in the USA is $0.67 per mile - so his expense on the car alone is $0.67x300miles = $201.

So now he's down to a net of $99...

$99 divided by 6 hours of drive time is $16.50 per hour BEFORE TAX.

Wish I could have done the math quickly in the car and given him the bad news, but I didn't do it until this morning.

IN N OUT pays more.

uber is basically profiting on low IQ people who cant do arithmetic or understand the concepts of gross revenue, expenses and profits.


The uber app probably ignores is dwell/waiting time and only calculates his wages for when he is actually "Working" aka driving and tells him he makes 30-40 an hour or some dumb chit like that.



And yeah that mileage rate, if Uber were fair they would actually reimburse people that mileage rate. Many companies and government if you travel for work in your POV in lieu of a rental car, they will reimburse you that rate

The crazy part is that he said that 3 hour drive was his biggest payout ever lol.... If $16.50/hr is the top, his average days must be absolute chit.

Why are you being mean to the Uber Driver.. let him enjoy his life. Does chitting on him make you feel better somehow? That's nasty.

I'm just sayin, the UBERcel should stop basking in his absurd wealth when the reality is that he's pulling down less than a 16 year old at IN N OUT.

Do the math for my biggest pay off.
I once made 900 dollars for jacking off on camera for 20 minutes, that was my biggest pay off.

The 67 cents per mile is how much you get to subtract from your taxes owed if you take the mileage deductible instead of itemizing. Why would you subtract that from his income when it's actually in addition to his income.

Add the $201 to his bottom line he actually made $501. Then you subtract what he paid in gas. If it's a car that gets 30mpg for 600 miles he used 20 gallons of gas so $60.

501-60 = $441 in his pocket. Not great but not terrible for 6 hours of work.

hahahaha... THIS^^^ is exhibit A for how dumb people get scammed into driving for uber.

wow.

Just wow.

there's no guarantee he'll get a passenger coming back, so that's mostly dead miles

The odds of a passenger coming back is probably 1 in a million.

I assume the same is true of doordash/food drivers. But i recently started getting some people who are delivering on bicycles. I wonder if the ones on bikes complete enough orders in an hour to be decently profitable. On the plus side their job is a good cardio workout.

Either way probably beats rotting in a cubicle

Bicycle costs are virtually zero.... I mean maybe $0.10 per mile or so... If you live in a densely populated area it might come out positively for the rider..... But you also need to consider your bike could easily get stolen (almost certainly in a densely populated area) so that would suck.

quoting einstein levels of 5d accounting in case anyone skipped over this gem^

I’m gonna break down the actual math for you since you’re stupid.

I’m gonna use a 2021 Toyota Corolla for the example since it’s a typical Uber car.

3 hour trip at an average highway speed of 65 mph = 195 miles + return trip = 390 miles. No way I believe he did that many miles on backroads.

The corolla gets 38 mph highway so 10.26 gallons of gas.

Let’s say gas is 3.60 a gallon that’s $36.94

He has to do an oil change every 5000 miles. It costs him roughly $60.. his trip is 1/13 of an oil change so $4.61 in oil cost.

Next is depreciation on his vehicle.. here are two similar corollas in terms of trim level and year with a mileage spread of 55,040




I’m gonna use the carfax value not the selling price to figure out that each mile costs roughly 6 cents in depreciation on his car.

This means the trip cost him $23.40 in depreciation.

Average tires last 45,000 miles and will cost him approximately $250 per tire so he spent
$8.66 in tire life (for all 4 tires)

So all in his trip cost him $73.61

For a net profit of $226.39

/6 = $37.73 per hour.


That’s not that bad tbh

Btw you such at math

And to take it a step further he's spending 18 cents a mile in actual cost but the IRS is letting him write it off at a rate of .65 so they are giving him an extra .47 a mile.. for a bonus deduction of $183.30 on his taxes.. lucky him.

this

OP is one of THE BIGGEST arrogant financial retards on misc

kid swear he's financially smart because he claims to read a lot of financial literature but he's actually a complete retard based on all his posts

Yeah ok, but in real life, the IRS allows a $0.67/mile write off because that is what the average person is paying per mile to own a car.... Actually it's closer to $0.73 in 2024, so by me using the officially recognized $0.67 number, I'm being generous.

hahahaha.

Low IQ uber cels in FULL force right now.

You guys realize the IRS doesn't hand you a check for your mileage? It's a DEDUCTION... Not free money.

Damn, uber really unlocked a retarded market to exploit....

i dont drive uber, but you're just a retard through and through

you have 0 knowledge on financials but you claim to read and recommend all these financial books

maybe instead of being so arrogant, you re-read your books because you clearly didn't pick up any of the information

People who do this get sucked in because of the phenomenon of uncertain payoffs, like slot machines.

It's been proven. When you are staring at that app you never know what offer Uber is going to send to you. COuld be high, could be low. The high offers elicit the same rewards in the brain as hitting a slot machine.

Pretty wild stuff. That's why people don't quit once they figure out what they are really earning.

lmaoooooooo.

define "tax deduction" for me, and explain how you somehow end up with all that extra money in your pocket out of thin air?

Uber is pretty good money. If you drive a EV and are only spending like $10 a day on gas, you can easily make $500/day which is like $150k per year. For some guy with no skills, it sounds pretty decent to me. Especially because you'll pay very little in taxes with all the mileage writeoffs.

I literally just broke the math down for you. You're wrong and now you're coping because you hate how wrong you are.

no,
i let retards stay retards in 2024, i'll maybe throw them some crumbs as food for thought

but baldbrah already explained what you are inquiring about and eatforgains went into detail on what actually would eat at the uber driver's income

go re-read those two posts instead of acting like an arrogant retard

If you pay very little in taxes with all the writeoffs, IT'S BECAUSE YOU MADE VERY LITTLE MONEY.

Am I literally the only miscer who understands this?

ho lee fuk.

I'm kind of mind = blown right now....

The people in this thread literally think the IRS is writing you a check for $0.67 per mile when you drive uber....?

Or like, do you think that driving your car is free, and the IRS is printing money to pay you for doing it?

How the fuk do you guys think that you would end up with MORE money than what uber is paying you?

Maybe you're just trolling me?

You left out car insurance and that you aren’t supposed to use regular car insurance if you’re driving Uber but are supposed to use a much more expensive car insurance since your acting as a common carrier.

Im sure theres other financially poor retards that think EXACTLY like this

His average speed estimations are absolutely hilarious, too.... Average of 65 mph.... So he basically picked up the rider on the side of the interstate, immediately accelerated to 70mph, encountered no traffic what-so-ever, then I guess the rider just leaped from his moving car when they got to the destination LMAO.

Back in 2018 Herschel Savage was my Uber driver and said it was an ok source of income but nothing spectacular. He also mentioned that Uber and Lyft was the last resort for a lot has been porn dudes from the 80's & 90's.