How to make money with Uber

Whether you want to make a little extra money with Uber to pay off debt, want to save a little money, or want to cover some extra expenses; a secondary entry of money can be of great help for your pocket and your bank account. Also, the ideal job might be something that you find fun and helps you spend your free time productively.

Certainly, Uber has come under a bit of a fire lately, but it can be a great way to make money if you do it right.. Now, to make decent money with the platform, you will have to know all the tricks and tips that not everyone talks about.

How to make money with Uber

Uber as a side job: Two sides of the same coin

1. Study your local market

The most important thing for Uber to become a successful part-time job is to understand your local market. You’ll need to know when and how to ride for the best and most consistent rides.

It is not uncommon for trips and demand to be higher on Friday and Saturday nights, especially in downtown areas and places where people are likely to be drinking in bars and going from one place to another.

Responsible drinkers will Uber to their first bar early in the evening, but then disperse. Around closing time, you’re more likely to see partygoers running off, finishing their night, and heading home again..

Another aspect to understand is how Uber reacts to certain events in your area.. In Indianapolis, for example, prices tend to go up when there are Pacers and Colts games. During these days, the center fills up with a lot more people – many of whom will prefer to order an Uber to and from the stadium, instead of looking for a place to park.

There are two ways to learn more about the local market: talk to other Uber drivers and search the rider app.

Talk to other Uber drivers

This is the best way to get information because tips and tricks about the local area are always being shared.. After all, when your location is considered Uber-friendly, that creates more demand for drivers.

Search in the passenger app

If you go into the passenger app on Friday nights and go downtown, you’ll be able to see how many drivers are near you and an estimate of how much they’re charging per ride. Familiarize yourself with this tool to find out when and where they are most likely to request rides that can make your effort worthwhile.. That way, you can make much more money in less time.

2. Drive the right kind of car

Since you can take more passengers on an UberXL trip, the fares are higher. Plus, you can take rides from UberX and UberXL, which are much busier than just ordering an UberX. That doesn’t mean you shouldn’t try Uber with a smaller vehicle, though, but you’ll be able to make just as much money as someone else with an SUV or van.

What can you do if you don’t have an XL vehicle? You’ll have to do your math to decide if a larger vehicle is worth the investment.. You may be able to make enough if you drive frequently and live in an area where drivers can make consistent profits.

Full-time drivers for Uber might consider investing in a vehicle that qualifies for Uber Black status.. These business vehicles achieve premium rates, but they must be black (of course) and the requirement is that they be newer than the X or XL vehicles.

3. Don’t chase “surge” fees

When there is a very high demand and little supply, Uber increases its rates and calls it “surge pricing”. This usually happens at parties, at the closing time of bar areas and after local events. Riders approve the fare when they require a ride, which means they’ll pay more for the convenience.

When a “surge” rate is granted, Uber will show alerts to drivers in the area and try to ensure that the demand for cars is covered. so that there are more satisfied customers. And drivers, knowing that this means more money for them, will try to drive more to seize the moment.

However, chasing these boosts can have the opposite effect to what you might normally expect.

Why? When a bunch of drivers leave after that message to take advantage of the price increase, the supply quickly increases and the price falls again. at their normal prices. It is best to simply know what the possible changes in the environment could be that will lead to high demand and stay in the area.

4. Find a waiting spot

When you’re between trips, it’s tempting to drive in circles, hoping Uber will send you a message because you’re close to a potential trip. But here’s the thing: driving in circles doesn’t make much of a difference in getting new rides. What it does do is wear out your car and waste gas.. And of course both will reduce your net income.

What you should do is wait in parking lots near the busiest areas and wait a while. It is important that you stay close to areas where you are likely to receive trips, but do not drive or start your car. It is possible to find free parking in some areas so it can be easier said than done. But knowing your local area makes a big difference.

Tip: Make sure you bring something to distract yourself while you wait. You can take a book or download a movie. Either way, be prepared for days or nights when you’re likely to have to wait for travel.

5. Use the Back to Back Ride Tool

A while back, Uber drivers used to get frustrated by long wait times. Before, they would drive from one area of ​​the city to another to pick someone up and then have to wait a long time before picking up the next person.. Or they had to drive a great number of miles to find their next passenger.

In 2015, Uber launched the Back to Back Ride tool. Thanks to it, you can reduce waiting times by accepting a new trip that is close to the place where you will leave the passenger you are carrying. In fact, you can even accept it while you travel. That way, as soon as you finish your journey, you can search for the next one.

You don’t need to do anything special to take advantage of the Back to Back system. Just you have to be aware that it is activated and available, and check if there are new trips when you are carrying a passenger.

6. Use both systems, if you can

One of the ways to make better use of time is using different ride-sharing systems at the same time: Lyft and Uber. Lyft’s car eligibility is a bit stricter, but if your car qualifies, you can search for rides in both systems.

You can do it in the following way:

  1. When you start driving, get into Uber and Lyft
  2. When you are taking a trip in one of the systems, exit the other system.
  3. Finish your trip and choose the available Back to Back Rides.
  4. If you have to wait again, log back into the other system as well.
  5. Repeat the process.

By using both systems at the same time, you can keep your car running and get away from those wait times that don’t make you money. Just keep in mind that you will be using a lot of data in the process. You’ll probably also want to have a charger on hand as well because it will be terrible if your battery dies on the way.

Note: Uber will not continue to work in the background, but Lyft will. So you should use Uber as your main app and keep Lyft in the background.

What can you do if you have two trips at the same time? Accept the one closest to you and reject the other before exiting the app.

7. Tricks to earn more money in Uber

Another important aspect is to follow a series of tricks. Certainly not all of them work perfectly, but it is worth applying them to see how it works in your area.

  • Maximize your tax deductions. Income Tax season is difficult if you don’t learn to maximize your deductions. It’s also important to know a little more about 1099-K and 1099-Misc forms, as well as looking for tools to help you keep track of everything.
  • Keep an income and expense account. You can use an app that counts the miles traveled and see how much money each mile traveled represents. By comparing it to how much you’ll be paid for each trip, you’ll be able to tell whether or not it will be profitable before you agree to it.
  • Vase of tips and clothing. At the end of the day, the people who will get into your car are customers. If you dress nicely and follow each passenger’s instructions, they might leave some money if you put out a cash tip vase. In case they do not have, it will improve your tips through the application.
  • Use applications and cash-back cards for your purchases. This way you can save money on gasoline and on the purchases you make. The more your money can yield, the better your price per trip and hour will be.
  • Sell ​​snacks and drinks. If you are going to be driving for a few hours, it is important that you bring something to eat and drink on the way. If you share your reservations with passengers, you could also make a profit by selling them for a little more. This is especially effective when you have partying passengers who need to hydrate a bit.

Learn more about all our tricks to earn more money in Uber and Lyft. Rest assured that your trips will stop being a hobby and will become a profitable business.

conclusion

Whether you work with Uber or Lyft, driving for ride-sharing apps can be a great way to generate extra income. Remember that the results will be based on your own calendar, the area you live in, the vehicle you drive and the strategy you apply.

However, if you have enough time available and you are close to a high-demand area, it could be a good way to bring a little extra money home. If you want to know more about the rates, the requirements or to register as a driver, you can visit their website.

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