How much money can I expect to make as an Uber driver?

Cab driving is up there as one of the most deadly jobs in America. I read the list on a flight in some airline magazine. I recall the deadliest jobs are US Marines, Lumber Jack, Oil Refinery Worker, Cab Driver, Electric Lineman, Policeman, Convenience Store Clerk, etc. Maybe the order is not right. But it's something like that.

I was driving a few nights a week during the summer and was walking away with at least $100 a week. I know of some people in my city that do it as their only job and make well over $1000 a week.

Depends on the hours you work, where you work, and how good you are.

IN NYC they have ads promising $7000 per month (=$84k per year).

You'll also have to factor in the additional wear and tear on your vehicle. Potential customers do not want to ride in a beater. Also, since your Personal Auto insurance policy excludes coverage for this type of business exposure, you won't have insurance if you wreck the car or if someone gets hurt in an accident. You'll need to get Commercial coverage similar to that for a taxi. Uber states, I believe, that they'll provide coverage while you are actually carrying a passenger. However, if you have an accident on your way to picking up, or after dropping off the fare, you're on your own. If your Personal insurance company can show you are/were working for Uber, they'll deny all coverage. Guaranteed. I've seen it happen. I'm in the Insurance industry,

I am not sure of the total amount of income. I am relatively certain that you will be raped over and over.

NYCRunner_2 wrote:

IN NYC they have ads promising $7000 per month (=$84k per year).

That's barely minimum wage in NYC. 7K pretax likely too. What about car maintenance? That's a terrible use of someone's time.

Uber and other companies like them are the equivalent of the company store for sharecroppers. Avoid.

Median household income in NYC is just above 50k a year so that's much higher than minimum wage. But I don't believe the 84k figure. Plus as others mentioned, wear and tear on your vehicle and on your health eats into that a lot.

Taxes are an important consideration. Uber drivers are "independent contractors" and responsible for the entire 15.3% of payroll taxes. They can deduct a lot of their expenses, but it still adds up.

Kang6789 wrote:

Median household income in NYC is just above 50k a year so that's much higher than minimum wage. But I don't believe the 84k figure. Plus as others mentioned, wear and tear on your vehicle and on your health eats into that a lot.

Also keep in mind median household income includes couples BOTH incomes. So for a couple who both drive for UBER, household income would be 168k a year, or over 3x the NYC median.

Bigfoot wrote:

You'll also have to factor in the additional wear and tear on your vehicle. Potential customers do not want to ride in a beater. Also, since your Personal Auto insurance policy excludes coverage for this type of business exposure, you won't have insurance if you wreck the car or if someone gets hurt in an accident. You'll need to get Commercial coverage similar to that for a taxi. Uber states, I believe, that they'll provide coverage while you are actually carrying a passenger. However, if you have an accident on your way to picking up, or after dropping off the fare, you're on your own. If your Personal insurance company can show you are/were working for Uber, they'll deny all coverage. Guaranteed. I've seen it happen. I'm in the Insurance industry,

Simply not true for my insurance company. I inquired and they stated that since I was an independent contractor, any passengers would be covered.

15.3% doesn't even cover the social security cut.

You may want to take some CEs there, pal. Uber, Lyft and others DO provide differing levels of insurance based on what status you are in the ride sharing process.Cut rate insurance providers may fight you to deny coverage, but in the end they will lose.

Bigfoot wrote:

You'll also have to factor in the additional wear and tear on your vehicle. Potential customers do not want to ride in a beater. Also, since your Personal Auto insurance policy excludes coverage for this type of business exposure, you won't have insurance if you wreck the car or if someone gets hurt in an accident. You'll need to get Commercial coverage similar to that for a taxi. Uber states, I believe, that they'll provide coverage while you are actually carrying a passenger. However, if you have an accident on your way to picking up, or after dropping off the fare, you're on your own. If your Personal insurance company can show you are/were working for Uber, they'll deny all coverage. Guaranteed. I've seen it happen. I'm in the Insurance industry,

Mr. Obvious wrote:

Taxes are an important consideration. Uber drivers are "independent contractors" and responsible for the entire 15.3% of payroll taxes. They can deduct a lot of their expenses, but it still adds up.

Just to clarify this comment, which is correct. The 15.3% is *not* federal or state income taxes. It is the social security tax which is normally 7.65% paid by the employee and 7.65% paid by the employer. But when you work independently, you are responsible for all 15.3%. It will hit you hard on April 15 unless you are making regular payments (quarterly) to the IRS. Say you make $6500 in 2016 driving for Uber. When you file your taxes by April 15, 2017, you will owe $1000 just in fica taxes, not to mention federal and state income taxes.

Welcome to the real world of employment and taxes. You'll suddenly want to vote Republican and wonder why the Democrats are giving a free ride to so many people on your hard-earned dime.

If it's a Personal auto policy, the person that gave you the info is wrong. Read the exclusions under your policy. It specifically states that using your vehicle for hire is EXCLUDED. If your Agent says otherwise, get it in writing. Then it's their E&O coverage which will end up paying for your claim.

Again, read your policy under exclusions. As far as CE credits go, I've exceeded my requirements for next year. I've been playing the game for almost 40 years; I know what I'm talking about. Again, if you doubt me, read the policy. And call your Agent and get the info from them in writing. Uber may cover you while you're delivering a passenger but 'cut rate' companies like State Farm, Foremost, Auto-Owners, etc. will exclude coverage under your Personal policy.

Here are a few articles for your reading enjoyment.

http://www.sfgate.com/bayarea/article/Drivers-for-Uber-Lyft-stuck-in-insurance-limbo-5183379.php

http://www.all-about-car-accidents.com/resources/what-uber-and-lyft-drivers-need-to-know-car-insurance.html

http://www.sfbg.com/politics/2014/03/24/uber

’s-secret-“proprietary”-insurance-policy-leaked

The Donger wrote:

15.3% doesn't even cover the social security cut.

Yes, it does. That is exactly what you pay for social security and Medicare taxes. It does not include income tax, which is why I referred to it as payroll tax.

Be sure to pull an AutoCheck or Carfax on your car. Uber will not let you drive for them if there is a report of frame damage or other significant accident history. Unfortunately, now that cars have unibody construction, almost any half decent accident will result in frame damage.