How Much Does Uber REALLY Cost?

Originally posted on May 15, 2019 @ 10:13 AM

As a full-time driver, the expenses we incur to “Drive for Dollars” daily include gas, oil changes, car washes, tires, and other routine maintenance as outlined in the car owner manuals (which I’m sure most drivers do not read or adhere to).

Uber does not cover or reimburse for ANY of these expenses.

If you drive your own car, you are out-of-pocket. I cannot tell you all the service I had done on my 2010 Hyundai before the timing belt broke, causing engine damage. It gave up the ghost June 25, 2018.

If you rent, thankfully, you only have to pay for the gas and car washes. However, there is the weekly rental car expense held for a few days by the bank and then released. The rental is actually payable in person every 28 days in a lump sum. I am on my second car since August 2018.

There is a larger expense, however, that most drivers are not aware of until tax time.

Uber Deducts From Total Earnings

Here are screenshots of what Uber provides for tax purposes:

That $5,890.98 was deducted from the Gross Earnings Uber claims I was paid.

If I divide that amount of $5,890.98 by 12 months, it means I’ve really paid an additional $490.91 a month to drive Uber!

That $8,379.89 was deducted from the Gross Earnings Uber claims I was paid.

Table 2 represents additional earnings added to my Gross Earnings.

So, dividing $8,379.89 by 12 months means I paid an additional $698.32/month to drive Uber!

That is INSANE! And I didn’t realize until recently.

Oh, and Speaking of Money . . .

There’s Got To Be Something Better

Since discovering the HERide app servicing the metro Atlanta area, here’s what I’ve learned:

  • Drivers keep 80% of rider fares, wait times and cancellations fees. Minimum fare is $6.00; cancellation fee to driver is $4.80;
  • Direct deposit is weekly right now;
  • Driver earnings are WAY better than Uber and Lyft’s new 2022 “take it or leave it”, non-adjustable upfront fares; and
  • Riders are paying a lot less with HERide and are excited to tell others.