You drive for uber or lyft with car that has salvage title vin check qld To calculate the true cost expenses of driving for Uber/Lyft you have to get a handle on the cost of putting miles on the rideshare driving vehicle. The answer to true cost is going to be different for everyone, because not all drivers use the same make/model of vehicle and some drivers dont own the vehicle they are driving. If the rideshare companies were providing the vehicles then most Uber/Lyft vehicles would be small ecomy cars because most of the rideshare trips booked by passengers are the lowt cost ones. However a small ecomy car is not going to wor.k for everyone for their personal use and some people prefer to drive larger, more expensive models for a variety of reasons. Further complicating providing a meaningful answer to true cost of driving for Uber/Lyft in an online forum… some drivers own their cars while others are buying a car/truck by making payments and others are choosing to drive a vehicle from a rent/lease program sponsored by or recommended by Uber/Lyft. Vehicle expenses are the primary cost of rideshare driving and since drivers are using a vehicle that almost always is also used for personal mileage… calculating the true cost of the rideshare driving mileage is again different for every driver. Another factor to co.nsider, the be way to calculate the true cost vehicle expenses would be after the fact. In other words after a year of rideshare driving the driver could look back at all of their expenses for the vehicle and calculate what it actually cost them to drive. Even looking back comes with complications. For example if the vehicle just had a brake jo.b at the end of the year of driving then it wouldnt make sense to calculate all of that expense into the previous year of driving because now the vehicle will be able to go thousands of miles before the next brake jo.b. Forget rideshare driving for a minute and co.nsider that the same rather complicated math is true for any vehicle we drive for personal use… but most people arent making the decision what car/truck they want to drive based solely on ecomic factors. This is exactly the reason online resources answering the qution How much does it cost to own a vehicle typically answer giving a pretty wide range like $5,000 to $6,000 annually. After 9,000 rides as a rideshare driver, driving full time hours for almost 3 years, and putting over 125,000 miles on the odometer, I know how much I spent driving my 2006 Toyota Prius. I also know what I pai.d for it and approximately how much I could rese.ll it for today. When I started writing the book The Science of Rideshare Driving over a year ago I realized that detailing my Prius expenses would not help others calculate expenses for the vehicle they plan to use for rideshare driving. It took a lot of research and a lot of thinking, writing, and re writing to document a step by step process to calculate the true cost for any rideshare driving vehicle… a method that would calculate the approximate expense per mile of driving, before a drivers first passenger trip, and for any vehicle. True cost has to cover the depreciating resale value of the rideshare driving vehicle and/or loan payment and/or rent/lease cost. The method documented in The Science of Rideshare Driving book walks readers through calculating a X cents per mile expense for the given vehicle. By knowing the cost per mile number for my Prius I can calculate my actual or true Take Home Pay using this formula gross inme minus cost of miles driven minus inme and social security taxes owed. Using miles driven means also covering the cost of dehead miles no paying passenger and taxes owed for a given day/week/month/year of rideshare driving are calculated after the mileage deduction the IRS allows for small businesses independent co.ntractors when using a vehicle for business purposes. This response covers in detail what is involved in calculating the true cost of rideshare driving and might help explain why most of what is found online does not provide a meaningful answer to the qution of true cost. It is common for drivers writing online to say things like After expenses the amount of mon. ey I ea.rn per hour of my time as a rideshare driver is less than minimum wage. This can be true, for example, driving a SUV which does not get the be gas mileage or driving a luxury car which costs more to purase and usually more in total cost of ownership the true cost of rideshare driving will be higher. When I first started driving I wondered how it made sense when I saw Uber driver and Lyft driver vehicles like a 4 door passenger truck with a high powered engine… then it occurred to me That must be their personal vehicle? That made sense! The premise of being an Uber driver or Lyft driver is using your personal vehicle to generate inme! Of course it doesnt

• published: 26 Mar 2021
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