Monday, January 26, 2015

What a Ridesharing Driver Does on Monday?

Ridesharing drivers are held hostage to a poor cash flow system. Ridesharing companies collect payments from riders after rides are given. However, drivers don't get paid for these rides until the following Thursday morning. Completed trips between Monday and Wednesday are paid out the next Thursday morning, 8-10 days after these rides are given. Financial resources are required to complete trips on weekends, likely keeping drivers off the road on Monday, Tuesday and Wednesday. Delaying payments on trips up to 10 days restrict drivers and strand them at home.

Ridesharing companies have access to millions of dollars of fares. They can use this money to fund their operations, keeping rideshare apps bug-free and functioning. Every Thursday, trip payments are deposited into driver accounts. Delaying payments for rides completed Monday-Wednesday hinder ridesharing. Thursday direct deposits are used to pay bills, but unfortunately drivers are forced to make car repairs, fund gas, and undergo maintenance expenses.

In order to drive between Friday and Sunday, drivers require gas and toll money. As the wait to delay driving during weekdays for poor cash flow and limitations after direct deposits are directed toward bills, drivers must plan ahead to complete rides and work enough hours to generate some income.

High commission deductions, airport tolls, bridge tolls, and $1 per safe rider deductions complicate ridesharing. Drivers are left without much money to afford the cost of driving. If you perform research and view statistics, you may discover that many drivers don't complete rides on Monday-Wednesday. Unless these drivers work non-stop hours to build a large direct deposit, drivers are absent from weekday driving. Also, the wear and tear on vehicles are so enormous that drivers delay these repairs and suffer losing future driving work.

What a ridesharing driver does on Monday is sit at home with no money. They can't drive. No gas money. No tips. No fare payments. No access to cash. Their direct deposit payment on Thursday is already allotted to pay upcoming and/or current bills. This recurring financial instability is a cycle that denies ridesharing drivers access to valuable resources. Ridesharing companies know this happens to their drivers. Why care when you have thousands of drivers to go online whenever?

A ridesharing driver who completed many weekend trips shared that he has 20 miles of gas, no money and can't pay his bills. He has never gone through as many challenges to make money as with ridesharing. Ridesharing companies collect ride payments and determine that making direct deposits the following week is feasible.

It is not a good cash flow system, which many drivers struggle to keep driving. When ridesharing companies compete against one another through pricing wars, then drivers don't see the value to get on the road. Good trips in the past become low paying rides, now. If we combine reduced fares with delayed payments, drivers must take risks to keep driving. They are not making a profit. They are ruining their personal vehicles. They are ruining their health by not using the restroom and hydrating with fluids. Both personal vehicles and drivers are making huge sacrifices to make their ride companies richer, whereas the inverse is to go bankrupt, damage credit, and ruin futures.

This vicious cycle traps quite a few drivers, because primary jobs are tough to find and expenses associated with ridesharing destroy their finances. Ridesharing drivers sit at home, unless they have a primary job. Those drivers who depend on driving to survive, suffer. They can't drive Monday-Wednesday. The risk to drive on these days may not be worth the time, especially since these are less profitable days. Most concerning is delayed payments for rides completed.

High commission, wear and tear, delayed payments, no tips, gas expenses, toll bridge cost, extras (water and snacks), airport tolls, safe ride fee, and other expenses ground drivers after the weekend. Drivers invest into weekend driving to receive faster payments - on Thursday. It doesn't make sense to put up money you don't have to drive on Monday-Wednesday trips. These trips take 8-10 days to reach your bank account via direct deposit.

The trials and perils of ridesharing hinge on ridesharing companies revising the payment system to keep drivers operable. It's not fair for good drivers to struggle financially, while ride companies continue to soar in valuation and in popularity. Take advantage of the needy to make a huge profit.