Lyft and Uber; can one make good money?

[bostonguy1960]

I wrote a post last month here. Nice to see some new posts...

Since then, I joined Uber Taxi here in Boston; only Boston taxis can join -- no neighboring towns. I've been a Boston cab driver for years. Now I use my taxi company's dispatch system, as well as the Hailo taxi app (not in SF yet) and now the Uber Taxi app for two weeks. Some Uber cities just have Uber X and Uber Black sectors but not the taxi division.

Uber Taxi here can be pretty busy, but slow at times, just like the cab company dispatch. The Taxi sector of Uber uses the meter with none of the notorious surge pricing present at times with Uber X and Uber Black. I think they charge me 10 percent of the meter. And tipping is allowed unlike with X and Black. Only recently, they charge $10 weekly to use the app.

Not sure if I'll migrate to Uber X here in Boston. I went to an info session last month, a week after a short presentation I attended for Uber Taxi.

They keep texting me to join Uber X. Seems their text service doesn't realize I'm with their Uber Taxi division already. I am just worried about over saturation with the constant barrage of Uber driver ads on seemingly all Craigslist city boards.

If one doesn't have a 2004 car or newer (they don't mention anything about maximum miles on a prospective vehicle), then financing is offered.

But get this: no credit check, $1000 down, but the loan is $160 weeky for a new hybrid versus $130 weekly for a Dodge Dart non-hybrid. Then you own it after four years, I guess? It's offered through a particular local dealer if already Uber background checked. And yes, they check your driving and criminal records, but no references, education, past jobs and such. Hmmm....? They don't even ask if one takes meds or has/had mental health issues. Hmmm again...

Not sure if $160 weekly is worth it. Plus repairs, gas, tolls and insurance? I assume some of this is tax deductible?

Uber doesn't even sit with a prospective driver to see how he drives, if he employs turn signals, etc.

In the Uber X info session, it was mainly current cab drivers, it seems...maybe one or two females in a room of about 30 at a local hotel conference room...

One person asked if one decided to quit and thus break the lease. A rep said you could get out of the lease for $1000, claiming it's much more forgiving than in a regular dealership.

What if the business is shut down in some future year? What if too many drivers makes it too hard to compete?

Check the Boston Globe and Boston Herald today about Boston cabbies (and some from nearby towns) doing a rolling one-hour protest yesterday with horns blaring...past Uber Boston's office. Even the Mayor is being forced to comment on Uber but I believe he and even the Governor have long ago supported Uber and other services.

This is not the case in Pittsburgh and Milwaukee. Research the stories. But these protests are expected anywhere Uber launches, I'm sure. Drivers in Pittsburgh have been fined by law enforcement there for working without transportation permits. -- which cabs there possess. Supposedly, Uber picks up the fine for the driver.

Violence has occurred in some European cities by cabbies toward Uber drivers and their vehicles.

Yes, Uber's very popular in Boston, operating well over a year.

I'll post more tidbits in the future. I'm tired of typing.

But it seems Uber, Lyft and Sidecar are here to stay despite challenges by cab companies.

[Poncho_NM]

Originally Posted by seedy

I've been reading about these alternatives and their success for a while, the Chron writes about them frequently enough. But I wonder how it really works out.

I guess it depends... I would be concerned about true insurance liability issues. Real insurance coverage similar to licensed commercial operations. And then there are other possible issues.

Exclusive Video: Lyft Driver Allegedly Attacks Pedestrian By Elyce Kirchner and David Paredes
Exclusive Video: Lyft Driver Allegedly Attacks Pedestrian | NBC Bay Area

[Larry Siegel]

Originally Posted by Poncho_NM

I guess it depends... I would be concerned about true insurance liability issues. Real insurance coverage similar to licensed commercial operations. And then there are other possible issues.

Exclusive Video: Lyft Driver Allegedly Attacks Pedestrian By Elyce Kirchner and David Paredes
Exclusive Video: Lyft Driver Allegedly Attacks Pedestrian | NBC Bay Area

Well, anything can happen, but since I've already been attacked by a cab driver and been in three cab accidents, I'll take my chances with Uber.

[Poncho_NM]

Originally Posted by Larry Siegel

Well, anything can happen, but since I've already been attacked by a cab driver and been in three cab accidents, I'll take my chances with Uber.

Oh, of course...

We've been rear ended three times while stopped at read lights. I guess not stopping might be a good tactic...

[TonyVIp]

Originally Posted by internetaccount

I'm driving for both Lyft and Uber. I like it. You CAN make money if you apply yourself.
I've been writing a "Driving for Lyft. Driving for Uber. A Ridesharing Drivers’ Survival Guide" and I'd really be interested in hearing more from other drivers...
Driving for Lyft. Driving for Uber. A Ridesharing Drivers’ Survival Guide. | The New York Lantern

I read your article. great information. I have been approved by Lyft here in Los Angeles area and looking into https://www.joinbreeze.com/ a start up company out of SF. They lease cars to both lyft and Uber drivers. upon approval you pay a one time $150.00 fee and the weekly fees thereafter are $160.00. It covers up to 2,500 miles and $.15 cents. I was wondering if you could research this company Breeze and provide some feedback. There is an article I read on them: Breeze rents $20-a-day cars to UberX, Lyft drivers - San Francisco Business Times and I am trying to determine if it makes sense at all financially to lease their car. Your feedback would be greatly appreciated.

[Nik4me]

Originally Posted by cupone

I've asked several Uber, Lyft, and Sidecar drivers about how much they make, and I've heard numbers that range from ~$50k to ~$70k after expenses full-time.

Depends where you are? LA? NYC? Chicago?
A small town? Not so much?