This is a great video. That switching cost concept you mention is worth remembering. “The best car is usually the one you already have.” Cars are so expensive!
@tipyouintheapp
4 ай бұрын
Smart guy to catch on to that. Switching costs are crazy expensive.
@MrEasye2504
4 ай бұрын
I drive a 2017 Mazda 3. It is affordable gets good gas mileage with the Skyactiv G, and has good black leather interior, and they last. That is my suggestion.
@tipyouintheapp
4 ай бұрын
Good car! I loved my Mazda 3.
@aye_yo_mick
4 ай бұрын
Been using a 2016 Mazda CX-3 myself. It's been great!
@erynpommer897
4 ай бұрын
Excellent Video Levi! You gotta great way demonstrating the numbers we live by.
@tipyouintheapp
4 ай бұрын
Thank you! Hopefully it helps someone pick a good next car! ❤️
@GilrienRosa
Ай бұрын
The problem with your assessment of that old Prius 200k miles is pushing a new transmission, steering rack, suspension, bushings, the maintenance cost for that could push upwards of 6k with parts and maintenance.
@tipyouintheapp
Ай бұрын
I added $4k for repairs.
@mmgoodwings3981
4 ай бұрын
Any rental car is a bad idea, from a guy who rented for 2 years
@danielganciar7193
4 ай бұрын
For highter costs yes, for less work/stress, no!
@tipyouintheapp
4 ай бұрын
I rented for 2 months and quickly realized how much it cost.
@tipyouintheapp
4 ай бұрын
I agree. If you're a full-time driver, done right, renting could be a good option.
@MH-Tesla
4 ай бұрын
You don't get to use standard mileage deduction on your taxes when you rent which is huge!
@Clarkbar79
4 ай бұрын
@MH-Tesla but you can deduct your rental payment which is just as huge. 400 a week is a good write off.
@Traveler7210
4 ай бұрын
You are the ultimate "bean" counter 😁 Thank you for all the complete information. 👍✌
@tipyouintheapp
4 ай бұрын
It's how I do it! 😂
@jorowi
4 ай бұрын
I've seen people doing Uber in 4-door pickup trucks.
@tipyouintheapp
4 ай бұрын
There’s a lot in Upstate New York. I think that’s more than acceptable too. We gotta use the cars we have.
@erfgthygreas1709
2 ай бұрын
@@tipyouintheappwhat tires do you get for your prius
@nickhummer5775
4 ай бұрын
Good job doing this. The uneducated drivers need to know their actual cost per mile. And what the hidden costs are.
@mrdsn189
4 ай бұрын
The 2010 through 2013 Toyota Prius are known to have engine problems that were corrected in the year 2014 and beyond. If you want to protect yourself from extra costs I recommend getting a 2014 or newer Prius. The purchase and financing increase may be about the same as the repairs but you could potentially get extra years and service out of the purchase in the positive column.
@tipyouintheapp
4 ай бұрын
Good point.
@scottduncan6344
11 күн бұрын
What about the 2013 cvevy sonic?
@Ottobon
4 ай бұрын
love the way you broke this down
@tipyouintheapp
4 ай бұрын
Thank you! Spreadsheets are easy to make but sometimes hard to explain.
@sofii515
2 ай бұрын
Thanks for the honest opinion
@tipyouintheapp
2 ай бұрын
I try! ❤️
@MH-Tesla
4 ай бұрын
My numbers for the Tesla model 3 standard range came to 0.18. I came up less on tires (0.024 for winter tires and 0.018 for all season.) and 0.06 for electricity (67% home change/33% fast charge). But your numbers are really good especially for comparison.
@tipyouintheapp
4 ай бұрын
Thank you for checking. Sometimes I get so into my data I make mistakes. 👍🏻❤️
@MH-Tesla
4 ай бұрын
@@tipyouintheapp I didn't think you made mistakes. You have to guess on some things. My numbers have moved around, but now I've done 11 months and 76,000 miles, so that helps me. And I pay cash for cars, so no interest. If I could do it now, I'd probably get a used model 3. Last summer they were not available for less than 36k and new was 38k. Now Hertz dumped like 20,000 on the used market so you can get them for $25000 and still get $4500 tax credit. Oh, and my numbers don't include the tax credit. I ended up getting only $4700. But I didn't factor that into my numbers.
@shabadime10
4 ай бұрын
Great information 👍 & respect all the work you put in to break it down for us. P.s, I feel any V6 V8 Is wrong for rideshare..but that's my opinion.
@tipyouintheapp
4 ай бұрын
I agree 100%
@GilrienRosa
Ай бұрын
If you do XL, XXL you dont have much choice outside of the 50k Toyota Sienna hybrid or a Maintenance trap Hybrid Pacifica
@gregmadison556
4 ай бұрын
I might get a Civic next. About 40 mpg highway and you don't have to worry about replacing the battery.
@tipyouintheapp
4 ай бұрын
Civics are great cars!
@BCisme111
2 ай бұрын
I use a Mach E and a fusion hybrid. It's about the same for energy costs for a day of driving, with gas over $3 a gallon. pretty close to your calculations. I get almost no tips in the fusion but tons in the Mach E. having a nicer car and a cleaner car helps a lot. I think you can submit documents for a car that isnt on the list and they may approve it. I have a cybertruck reservation and I could get it this month, but they are offering the foundation and cyberbeast only right now and at $99K starting price I can't make the numbers work. Maybe with a $57K basic rwd drive model they are promising next year. Used to use an expedition, more expensive to drive but I made more money with it. You have to know your market and your cost per mile. I determined that getting almost nothing but X rides during the week made it pointless to drive the expedition during the week. Don't use a Jeep for rideshare they are trash. Hybrid or electric is the only way to go for full time rideshare unless you are in a good market for big SUV rides.
@dragonlee5477
15 күн бұрын
Hi Levi, thank you for creating such a fantastic video! I’m a new Uber driver in the Boston area and got a 2020 Prius Prime, partly due to the pandemic. After all the incentives and discounts, I ended up paying just $15,000, and it’s fully paid off. I estimate my cost per mile to be under $0.10. Could you possibly share your Excel template so I can better calculate my expenses? I’d really appreciate it. Thanks in advance!
@tipyouintheapp
14 күн бұрын
I have a lot of those calculators on my Thrive subscription at www.tipyouintheapp.com
@commuterbranchline8132
4 ай бұрын
Low cost options begin with the Toyota Prius, it’s hard to beat. Tesla Model 3/Y have staggeringly low running costs. Take care and take money Levi!
@tipyouintheapp
4 ай бұрын
No doubt. The Prius is an amazing car for rideshare.
@ShelterDogs
4 ай бұрын
In the Southern California market you really need to qualify for Comfort. Uber X rarely pays above .80 cents/mile. And those older Priuses don't qualify. It's the completely opposite up north in San Francisco. Uber X does still get good paying offers, sometimes even $2/mile. That's unheard of down this way.
@vanzarockin
4 ай бұрын
@@ShelterDogs We may get offers that pay $2/ mile, but when driving in the city, the average trip is 4 miles and 18 minutes per trip. No matter how you dice it, the pay is low.
@ShelterDogs
3 ай бұрын
@@vanzarockin You’re right. It should increase and hopefully there will be new legislation like up in WA. But I will say this, it seems SF drivers can earn just as much as Seattle drivers. Why is that? I have the Solo app and it shows the numbers.
@Mr5Stars
4 ай бұрын
Helo Levi. We have to figure out a template on how to Maximize COMFORT and PREMIER.
@tipyouintheapp
4 ай бұрын
Agreed! Send me some trips and I’ll adjust the sheet.
@GeosRealTalk
4 ай бұрын
EXCELLENT VIDEO!!! Regarding age of the car (year built) there's a 10-12 year spread to be eligible to drive comfort which can make a big difference in a lot of markets. I hate driving rush hour for many reasons but most passengers are just wanting to get to work or go home and unlikely to tip for a basic UberX. On the other hand I find that if they select Uber Comfort you are getting more pay and more likely to get a tip (win-win). I suppose it also makes a difference where you drive. If I was in NYC or San Francisco I'd go for most economical - either a Prius or for better level rides a Tesla. If you're in SoCal, SE Florida or other parts where the cities stretch out for miles it also makes a difference to go for something that is both economical AND "luxury"/ and this would also be true if you are in a high tourist area.
@tipyouintheapp
4 ай бұрын
Thank you! Ultimately, we all have to get a car that we feel is based based on our city, driving habits, and personal desires.
@GeosRealTalk
4 ай бұрын
@@tipyouintheapp and as you said also for our personal use.
@MediaNocte3000
2 ай бұрын
I’m rocking a 2012 Scion xB now. Not the best gas mileage but the thing just refuses to die. It’s been a bit bumpy though. My city has terrible roads and a full 4 seasons. Any recommendations for a car in a city with bad roads and bad winters? Two wheel drive is alright. I found tires that’ll cut through snow like butter
@tipyouintheapp
2 ай бұрын
I thought my Prius did well in the snow, assuming I put on snow tires.
@MediaNocte3000
Ай бұрын
@@tipyouintheapp Snow tires would’ve helped mine probably. I drove a beat up 2005 Prius that I found for $3,000 maybe 6 years ago. I wasn’t thinking ahead and got some eco tires to maximize my mileage. Didn’t help me when we got a “polar vortex”
@danielganciar7193
4 ай бұрын
Great video!!👏👏👏
@tipyouintheapp
4 ай бұрын
Glad you liked it!
@ThisIsTeslaTrippin
4 ай бұрын
I also own a 2024 Model Y, using it for rideshare. I did the same with our 2019 Model 3 for the last year I owned it. I know the 7-seater Model Y technically qualifies for XL rides, but you can really only fit a couple 12 year olds in that 3rd row. And if you really are picking up 6 people in that 7-seater, there’s no room left if everyone has a piece of luggage. So I didn’t even bother getting the 7 seat option. I’m curious what your experience is with XL rides in the 7 seater Model Y??? Can you actually make it work for a large group??
@tipyouintheapp
4 ай бұрын
I’ve only had 6 passengers once, frat boys. I agree, the Tesla Y isn’t ideal for XL as compared to a minivan.
@ThisIsTeslaTrippin
4 ай бұрын
@@tipyouintheapp ok, interesting. So have your other XL rides been with only, say, 3-5 rides? That would be certainly doable in the 7 pass Model Y, Or maybe you don’t get many calls for XL rides where you are? I’m in the Albany NY area, did I see that you are in the upstate NY area, as well?? I just discovered your videos and am enjoying them. I like your pace and delivery, keep it up!
@tipyouintheapp
4 ай бұрын
Thank you for the kind words! ❤️ I can only do XL with Lyft. Tesla's don't qualify for Uber XL. And I don't do too many Lyft's. My ratio is like 9000 Ubers and 150 Lyfts. 😂
@andreim7808
22 күн бұрын
@@tipyouintheappcould you please confirm or provide a source that Tesla Model Y with 3rd row/7 seats does not qualify for XL on Uber platform? I was considering 7 seater, but didn’t know it may not be eligible for XL..
@alexanderromero9701
4 ай бұрын
16:08 53,000 gross fares for the driver and just imagine that Uber probably charged your passengers that year around 105,000 dollars that year😅 fact is that the rideshare are giving on average nowadays 50 percent of the the total fares to drivers.
@tipyouintheapp
4 ай бұрын
True. That's about what it was.
@DrivinginSanAntonio
4 ай бұрын
SRT8 requires premium fuel ⛽️ the cost is even higher but fun comparison I drive a 2023 Tesla Model 3 and a 2018 Chevrolet Malibu Hybrid
@tipyouintheapp
4 ай бұрын
Wow! Didn't eve see that! Premium fuel for rideshare has to be the worst.
@timeforchange3786
3 ай бұрын
I drove a 2022 Malibu (rented) for 3 months. It was nice.
@BudWaterman
4 ай бұрын
Great video! Numbers matter.
@tipyouintheapp
4 ай бұрын
I agree1 thank you!
@danielganciar7193
4 ай бұрын
About the financing costs, do you only consider the interest? Why not the full amount financed ?
@tipyouintheapp
4 ай бұрын
Great question! 👍🏻❤️ I consider the interest and depreciation separate. Interest happens every month. But the principal payments are accounted for in the depreciation.
@Smiler2724
Ай бұрын
What about kia Sportage 2024 is good for uber and lyft
@tipyouintheapp
Ай бұрын
Any car is a good car. Why do you like the Kia? 😀
@SamuelDearth
3 ай бұрын
Do you convert rideshare to private clients?
@VinnyKuzz
4 ай бұрын
Good video!
@tipyouintheapp
4 ай бұрын
Thank you! ❤️
@bwanikajohn7002
2 ай бұрын
Is a Subaru Legacy 2013 good?
@tipyouintheapp
2 ай бұрын
If it runs and you can keep it clean, then yep!
@danielganciar7193
4 ай бұрын
What tire brand would you recommend?
@tipyouintheapp
4 ай бұрын
Tire Rack. I know, that's not your question, but I like the way they rate tires to help shoppers.
@truth6242
4 ай бұрын
For Uber Eats I'm driving a pristine 2003 Benz E500 .. a V8 engine drinks gas fast.. definitely not an ideal Uber car. LOL Too old for ride share but at least it looks new.
@timeforchange3786
3 ай бұрын
I bought a 2007 Volvo for food and grocery delivery. I am in my car 8-13 hours a day and want to be comfortable.
@MH-Tesla
4 ай бұрын
Breaks for your Tesla are over 200,000 miles, not 75000.
@tipyouintheapp
4 ай бұрын
Really!? Nice!
@RobertEnriquez-e7u
25 күн бұрын
My guy think you’re not being generous enough on some of these numbers I’ve been doing this for about eight years off and on the past two years I’ve been doing it full-time. I’m in Houston Texas. I think your little just my opinion.
@tipyouintheapp
24 күн бұрын
I don’t understand. Can you be more specific about? Which numbers do you think I could change? ❤️
@fourtycents
4 ай бұрын
All I got is rav4 hybrid
@tipyouintheapp
4 ай бұрын
That's a great car!
@johnoneill1011
4 ай бұрын
IF you are a 2 car family of necessity, it can make sense (depending on applicable tax law) to use one solely for rideshare or primarily so. Where I live annual income tax deductible depreciation alone is 25%, plus all other costs of ownership times the percentage in km of rideshare use. It does not have to be intensive rideshare. IF you are otherwise in a high income tax bracket and a low mileage driver of that vehicle beyond rideshare, a few hours a day of rideshare availability could make sense. Here, a log book is only required by tax authorities for 3 months once every few years to prove a pattern and is sufficient in the event of a tax audit, provided your usage remains similar. Currently, Uber here offers meaningful discounts for fuel, tyres, EV charging for Gold rated drivers and above, plus halved commission for EVs until June 2025.
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