If you’re considering on making money by driving for Uber, then you should know that the business itself has its own pros and cons just like other businesses do. So with that said, what are the pros and cons of being an Uber driver? Let’s find out below.
- Pro – You can drive whenever you want depending on your selected schedule. This means that you can work flexibly without minding the time. You can drive and earn to almost anywhere if you have time.
- Con – However, there are certain times of the day where it has little to no customers that want to go for Uber. This means that there is going to be a little bit of trial and error to go on.
- Pro – Being an Uber driver makes you an independent contractor, meaning you can deduct the expenses that is associated on your business income such as the distance you travel while driving.
- Cons – However, since you’re an independent contractor, you are not eligible for overtime pay and other benefits just like traditional business. This also means that you have to pay your own taxes as well.
- Pro – Uber provides a commercial insurance that covers the vehicle you’re driving from the start of your business until the time you’re going to retire.
- Con – Your existing auto insurance doesn’t cover the vehicle when you become an Uber driver. That means you have to pay extra to Uber to get a separate insurance for the vehicle.
Wear and Tear
- Pro – Uber will help out on the expenses when the vehicle you’re using starts to wear and tear since cars can depreciate over time the longer you travel.
- Con – However, although Uber covers up the expenses, you will be cleaning the mess your passengers have created. This includes vomit, stains, spills, accidental damage, and the like.
- Pro – Uber has integrated a driver and passenger feedback system where both of them can give feedback to each other to ensure safety. This data will then be monitored by Uber to ensure the safety of both parties.
- Con – Drivers still need to take extra precaution when picking up passengers because there have been plenty of reports where passengers are making inappropriate gestures on Uber drivers. You might end up risking your lives if not being careful so make sure that safety is your top priority if you’re going into this business.
- If flexibility and quick cash is your cup and tea, then being an Uber driver is a good sideline job for you. However, don’t expect to make a thousand dollars in just a single week. There are still plenty of things you need to learn when it comes to Uber driving. For now, expect low and that will gradually increase later on. Instead, focus on having realistic expectations then you’re good to go.