Let’s look at how working Uber/Lyft compares with a regular job.
You may be doing (or considering) driving rideshare to bridge some financial gaps.
This article will look at some things to consider.
You’ll be transporting people back and forth from work to sports venues, concerts, and even the grocery store. It is more affordable than a taxi in many communities, and you get a chance to meet interesting people.
How it compares to a job:
- You set your own hours for work.
Something you can’t do with a job. This means that you can sleep as late as you want. But you must make up that time driving.
- You can work on both platforms (Uber and Lyft).
You can be active at any time during the day or night. It is an option that is available 24/7. With your job you are stuck in a set schedule.
- You can earn bonuses daily.
Both platforms have incentives for a certain number of trips. Unlike work where you may need to work an entire year before getting a raise.
- Work in different cities.
Uber and Lyft allow you to take your job along with you. Riders can request your services in hundreds of cities around the world. Your job is typically in one location. That means you are stuck there.
- Different ways to earn money.
You can start earning money by delivering packages or food items to customers through the UberRUSH or UberEATS programs. Your job only allows you to earn a set income usually in one role.
- You can rent or lease a vehicle to start driving.
If you want to start driving with Uber and Lyft today and you don’t have a vehicle, then these companies can help you to get one. The vehicle becomes yours to use as you please, and then the payments that you owe become automatically deducted from your overall earnings. When you want to work for Lyft, this option is an excellent benefit as some vehicles might not pass the inspection process.
- You can qualify for a sign-up bonus.
You may qualify for a bonus of $1,000 (or more) after you complete a specific number of trips in your community.
- Some cities offer a set amount you must earn.
New York City now requires Uber and Lyft (and all other rideshare companies and apps) to pay their drivers an hourly wage of $17 after factoring in their expenses.
Driving Rideshare Versus PaidLetter.Com
PaidLetter lets you earn even more income. You can earn this money while working with Uber, Lyft, or any other job!
Here’s how it compares to rideshare:
- Wear and tear on your car
Driving rideshare puts a tremendous amount of mileage on your vehicle. It also increases the need for service and repairs. Unfortunately, rideshare makes having accidents on the road more likely because of the sheer number of hours on the road.
- Rideshare demands intense driving hours.
To earn the most money, you need to drive during “high-cost”
windows. This means 7-11 AM and 3-8 PM every day when the traffic is the thickest.
- TOS can and do change frequently with Uber and Lyft.
When you agree to become a driver for Uber and Lyft, then you must stay up-to-date on all of the Terms of Service (TOS) which govern your agreement. There are plenty of rules that cover the bonuses, fees, and fares that occur with every ride, and those rules can change at any moment.
- Your wages may not be reflective of the work that you are doing.
Many of the drivers who work for Uber and Lyft are not fully aware of the actual amount they earn by providing rides or delivery services with their vehicles. When you take into account the wear-and-tear on your vehicle, the fuel expenses, cleaning costs, and all of the other needs that go into this employment opportunity, some drivers struggle to make more than the minimum wage in their community. Some drivers are experiencing lower pay and rising costs.
- Drivers must carry commercial rideshare insurance.
If you decide to start driving for Uber and Lyft, then you must carry commercial rideshare insurance on your vehicle. There are no exceptions to this rule in any community. Should your passenger experience an injury in an accident, whether it was your fault or not, then they could potentially hold you liable for their medical expenses and other costs. Because most Uber and Lyft drivers are independent contractors and not employees, this means your assets are on the line in this circumstance.
- $2,500 deductible! What many rideshare drivers still may not know is that a fender bender will cost you $2500.00 dollars. That’s right your deductible if ever in an accident is very high (twenty-five hundred dollars (USD).
Advantages of PaidLetter Over Rideshare
PaidLetter allows you to earn income passively without leaving your home. You earn this additional income whatever you are doing.
We show you exactly how to generate customers (subscribers) for your PaidLetter business WITHOUT:
- Telephone selling
- Paid ads
- Being on camera
- Cold or “warm” emailing
- Physical products
- Live streams
- Supply chain issues
Plus, only 100 subscribers paying you just $50 a month is a $60,000 income that you generate on the side.
Another big benefit is that you can earn this money in complete privacy!
Without anyone at work (or family members) knowing how you can buy that new car or move into your new home.