Web ads leave out the truth about ridesharing. It is up to drivers to learn the hard way. Excessive driving will eventually wear out vehicles, making them useless once expensive repairs consume all profits remaining after commission, tolls, airport fees, safe ride fees, and other expenses to operate as an independent contractor.
The following article is reprint of "The Perils of Ridesharing" as this applies to ridesharing jobs that are sweeping the United States. Read carefully.
Reprint: April 30, 2014
"Don't believe all the hype about ridesharing jobs. Ridesharing is innovative and trendy in this sharing economy; however, the cost to perform this driving job will wipe out any profit drivers expect to earn.
Often enough, a web surfer may see Lyft, UberX (ridesharing division of Uber transportation platform) and SideCar ads rotating for on-demand ridesharing. These ridesharing companies make prospective drivers think they can make a ton of money driving ordinary people. Why is ridesharing not a lucrative job to keep people afloat while on their job search?
Ridesharing jobs involve using a personal vehicle to transport people from one location to another. Using a a ridesharing app, a non-commercial driver can scoop up a rider who requests them as the closest driver. The cost to use this ride service is much cheaper than a taxi.
Nonetheless, the cost to operate as a ridesharing driver is expensive and damaging to personal vehicles. Drivers who use their personal vehicles assume the cost of repairs and gas. Whenever repairs are required, the driver is out of commission. The livelihood of these drivers depend on the reliability of their personal vehicles. If brakes, tires and oil need changed, ridesharing drivers lose their moneymaking abilities. Gas, citations, and other expenses associated with ridesharing take a toll on drivers.
Ridesharing is a side job rather than a permanent position; it is more beneficial between Thursday and Sunday than driving 7-days a week. It is obvious that the cost of gas is skyrocketing. This recent surge in gas prices is eating up our bank accounts, so any ridesharing driver not using an electric and/or hybrid vehicle is losing money.
The next time you see an ad rotating that states you can earn $500 or $1000 working on the weekend, don't believe this is possible. It takes a lot of rides to make $1000. After commission and gas, you need to earn at least $1,600 to see $1,000 in your bank account the following week.
Once you pay taxes on your rideshare earnings, you are left with a beat up car and no profit. There is no way you can give 160+ rides in a weekend without spending a bundle of cash and investing every waking minute driving on the weekend.
Think twice about accepting ridesharing as a primary job because you will lose more than you earn. In the end, ridesharing jobs will exhaust your resources and make you penniless once wear and tear consumes your personal vehicle and gas wipes out your savings."
We know drivers who lost out big choosing to drive full-time. These drivers got into severe financial debt, ruined personal vehicles, incurred expensive repairs and maintenance costs, received parking and traffic tickets, and fell into the toll bridge trap that caused them to lose ridesharing jobs. It is unfair for these ridesharing companies to defer the bulk of the financial responsibility to drivers.
Change is on the forefront, so keep driving and know that help is near. Ridesharing companies will one day pay for putting their drivers into terrible situations and turning the blind eye to avoid accountability. Ridesharing is not a job, it is a trap to make revenue off of gullible and naive people. The moment people fall victim to heavy expenses, then this is when they learn the real truth of ridesharing. By then, it is too late to recoup this lost money and rebuild a broken vehicle.
If done right, ridesharing jobs can help drivers connect with good people. Business opportunities are awaiting every ridesharing driver, which is primarily the motivation behind app driving positions. Use ridesharing jobs for what they're really worth, a social connection on wheels.
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