It’s no secret that people want to make more money. Whether you’re looking for a part-time money-making hustle or you’re interested in a full-time job, Uber might be a great option for you to make some cash.
As a rideshare platform, Uber connects you with people in your city who need a ride from one place to another. Driving with Uber allows you to be your own boss which makes it possible to drive when you want and create your own schedule. However, the question remains “How much do Uber drivers make?”.
Since you decide when you want to work, you have some control over how much money you make. Want to know more? Let’s dive into our Uber drivers guide and learn about driver tips that will help you make the most money.
How much can you make driving for Uber?
Uber or Lyft driver pay depends on a variety of details including location, time of day, and driving distance. Expenses related to vehicle maintenance, service fees, and gas prices will also factor into your take-home income, especially if you are driving for Uber using your own car.
The average income of Uber drivers is between $12.44 and $21.80 per hour. Up your money-making game by accepting bonus opportunities when available. Plus, be sure to snag those sign-on and referral bonuses to add even more to your cash flow.
Uber Driver Requirements
- Valid driver’s license
- Proof of residency in your city, state, or province
- Insurance if you’re driving your own car
- Meet the minimum age to drive in your city
- At least one year of driving experience
- Background check clearance
How to apply for a position as an Uber driver
Sign up for Uber by downloading the driver app or going to partners.uber.com
Answer the prompted questions.
Indicate the make and model of the vehicle you plan to drive, and specify which Uber platform you’re interested in the most.
Send your required documentation to Uber. This includes your driver’s license, vehicle registration, and any additional documents necessary for driving in your specific city.
After Uber verifies your information and approves you to drive for Uber, you’ll gain full access to the app and then you can start accepting ride requests.
Uber driver pay rate
Uber offers various ways to make money. Driver pay rates depend on how many miles you drive and how long the trip takes in addition to the base fare.
Another way to earn money with Uber is to meet requirements for bonuses when the company offers them. Drive during peak hours to increase your fare rates and complete as many rides as possible to make more money overall.
Keep in mind that Uber fares vary from city to city. Look up the exact fare for your area so that you know what to expect. Find out a more detailed estimate of how much you can earn in your city by calculating estimated earnings online.
- Base Fare: The minimum fare for every ride no matter the driving distance. This fare is to help reimburse drivers for shorter rides. The fare average is usually between $8 – $14.
- Per Mile Fees: Make money off of how many miles you drive after pickup. You can expect to make between $0.24 – $1.58 per mile. The cost changes depending on the type of fare riders get.
- Per Minute Fees: Get earnings off per-minute fees. This accounts for time waiting for pickup and time driving to the drop-off location.
Uber payment schedule
With Uber, payment schedules are flexible. You can get paid every Monday, and you can also take out cash whenever you need it.
You can transfer your earnings to a personal debit card for a $0.50 fee. Your other option is to transfer your earnings to a GoBank Uber Visa Debit Card for free. Transfer up to five times per day.
If you need your cash even faster, you can opt for instant cashouts. Deposit your available balance whenever you want. In most cases, the transfer is instant, though sometimes it can take up to three business days. Instant cash transfers are available up to five times a day.
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Expenses to consider when driving for Uber
There are many expenses to consider as an Uber driver, ranging from insurance costs and gas prices to road tolls and vehicle maintenance.
- Car insurance is a requirement for all drivers. Rideshare drivers often face more day-to-day risks than the average driver, causing their insurance rates to spike. Obtaining rideshare insurance is necessary so drivers can close any gaps in their insurance plans.
- Gas is an inevitable cost when it comes to driving. The price of gas will vary depending on how far you drive, how often you drive, and which car you drive. Consider using Gas Guru to find the cheapest gas prices near you.
- Leasing a car can lead to costly monthly payments depending on the make and model of the car you lease. For example, the average car payment in America is $501.
- Tolls are another expense to keep in mind when driving for Uber. When you’re completing a trip that requires you to pass through tolls, Uber will reimburse you after the ride. The toll fees come out of the passenger’s fees, but if you pass through tolls without passengers in your car, then that fee comes out of your own pocket.
- Maintenance costs are likely to go up. As a rideshare driver, you’re driving much more than usual, so you’ll likely be paying for oil changes and other maintenance repairs more often.
- Uber driver fees are associated with driving for rideshare. You’ll get charged a service fee every time you drive, and it varies from trip to trip. Service fees are the difference between what you earn and what the rider pays for the trip without taking tolls, booking fees, tips, driver promotions, surcharges, or taxes into consideration.
- A few other expenses to consider are your cell phone bill (for app use and navigation). Plus car cleaning, parking, and permits. Possibly meals if you’re driving for long periods.
Best times to drive for Uber
The best way to increase your income is to drive during peak hours. Driving on holidays and during major events in your city can also boost your pay per ride due to increased demand.
Peak times are weekdays from 7am to 9am and 5pm to 7pm. On weekends, the peak hours are on Friday and Saturday from 5pm to 5am. On Sundays, rides are in high demand all day long.
Make sure you drive on holidays, especially Christmas, New Year’s, Valentine’s Day, St. Patrick’s Day, Fourth of July, Halloween, and Thanksgiving.
Check the Uber app consistently to see if there are any ongoing promotions. Uber offers bonuses very regularly and they are an amazing opportunity to make even more money.
Get paid to drive with Uber
Now that you’re in the know of all-things Uber ridesharing, you’re ready to make some cash as an Uber driver. Picking a rideshare platform can be confusing. If you’re asking yourself do you make more with Uber or Lyft? Keep in mind that Lyft takes 20% of each fare, on top of the entire booking fee. While Uber takes 25% of each fare. Work part-time, or full-time, but most importantly–on your time.