Mr. Wolf

No boundaries For privacy and slowly losing your rights, Big brother society is getting bigger and bigger. They are watching you, following you and listening to you. .

It ain't going to get better. Accept it, we are all muppets and suckers to the higher powers.

Uber fares are calculated by base + distance +time 

 

On UberX the base fare (which is charged the moment you enter the car) is £2.50. Then the fare is £1.25 per mile travelled, and £0.15 per minute for the journey.

 

So a 10 mile journey which takes 30 minutes would be £2.50 + 10 x £1.25 + 30 x £0.15 = £19.50 (which averages out at £1.95 per mile). 

 

Surge prices occur when the supply of drivers is low, and/or demand is high. This is usually temporary, often when there's a burst of customers coming out of an event, or a tube strike, inclement weather etc. The passengers pay a multiple of the basic fare from 1.2x to 5.0x or higher as seen on New Years Eve. Obviously the driver is going to benefit as they'll be getting paid more.

LUED that's very good explanation. thank You for your input, appreciate your advise.

Can someone tell me what is the average fare per mile we get for uberX before any costs??

Their website says £1.25 per mile for the uberX drivers, but when you calculate a journey it varies from £1.70 - £1.95??

Can someone also shed a light on how the surge rates and times work?

Many thanks

I am reading in the forum people are doing £600-£1000 a week after uber costs?!

Realistically you have to deduct 50-55% as costs.

So if you do £600 a week your net profit/take home after costs is around £300 - £330. Or the same if you do £1000 a week your take home after cost is around £500 - £550.

According to your math, if you lease the car you're actually saving money because there is not depreciation , no car costs, just monthly payment!!

 

Hmmmmmm B)

Mike24 by leasing a car you will make around £200 - £300 less a month! but no headache if problems with car or replacements issues and the hassle of doing things yourself and waste time. You have to assess and see what fits you better.

I would recommend to get a professional accountant advise, it will help.

Remember we don't pay tax on the first £10k per annum. For argument sake if you made £30k per annum you pay tax on £20k.

Good luck.

Thank you guys this is great input, It's bang on.

I have recently done a comprehensive spreadsheet and indeed my cost of sale is between 48% - 50% as Uber X driver.

One point pls don't forget to deduct your tax after all your expenses from your Net profit. As a rule of thumb set aside upto a high 28% for the tax.

Keep safe Out there.

I am about to lease a Prius PCO ready car inclusive maintenance, insurance and vat for 265 per week.

My costs are the car lease, car wash and of course the petrol.

Is that wise?

I checked out with lingcars, they won't lease a car for PCO purposes.

That's monopoly, we need competitors like Lyft to get Uber realise what we are worth. They compete we benefit.

Till then we are milked.

Thank you for the tip Lued, I appreciate your feedbacks.

I feel like a mug now, as I'm getting ready to lease a PCO car and Uber fees goes up. Wtf Uber.

Come on Lyft come to London and give Uber some competition.

Looks like Uber is not only upsetting the black taxis, Addison Lee etc.. And now it Looks like we the drivers are next on the list of getting pissed off.

Unfortunately There will always be drivers out there settling for penuts and allowing to be suckers to the Uber system.

Drivers you have to remember you are self employed and we are providing our service to Uber and not employed by Uber, therefore we have to be strong in front of them and be demanding. We can't do that as individual alone we have to have an association or union of Uber member drivers to act together.

Keep your heads up and stay positive.

George you have been very helpful I thank my friend, I highly appreciate your guidance and knowledge.

Yes thinking of Uber X (Prius) doing my research before I commit.

Regards

Hi Cardinal, thanks for sharing your info, I am new to this and considering driving on the evenings

Just couple of questions, to achieve £1320 in couple of weeks

how many mile do you drive per day on average?

and how many hours per day of uber driving?

What car do you drive?

Do you lease or your car?

What are your car costs per mile?

What are your petrol cost per mile?

What are your maintenance cost per mile?

Other cost per mile?

And how do you include insurance cost?

Your feed back and advise will be greatly appreciated.

Many thanks

Can I not include/add the insurance as a daily cost. ie £5 per day. The reason I ask because i am thinking of leasing a prius for the purpose of ubering.

In the UK, I have been advised as a rule of thumb always aim to deduct or set aside upto 30% from your NET Profit.

However I would seek professional advise, as you can include all sort of costs in your expenses, and decide to go as Ltd or sole trader. Seek that advise.

Keep us posted.

Good luck!

Haji 12 hrs is a bit much, you are hard worker.

What is your income without the cost per day?

How many rides per day?

And how many miles per day?

Very Good points George.

I am new to this, and currently doing my research before I get into Uber driving.

I am based in Brentford, London 20min from Heathrow.

I have recently got my PCO licence and trying to calculate the true car costs per mile. As I will go down the self employed route with Uber X, I am try to determine the profit or loss and if it is viable business.

Any feed back to the following questions will be greatly appreciated and may help many.

Experienced collegues may be able to shed some light or anyone who's has done this exersice before.

1/ Average hours of driving per day?

2/ Average miles mile per day?

3/ Average number of rides per day?

4/ Present car costs per mile (car lease, petrol, Uber fees, car wash)?

5) Future car costs per mile(tyre change, oil change, full service, excess mileage, uber smart phone fees)?

6) Other daily costs( insurance)?

Your feed back will be greatly appreciated, and look forward for any response.

Many thanks

Do we actually need to change the oil or just keep an eye on the oil levels and add when needed until servicing is due?

Will that be ok?