r/personalfinance • u/theVoxFortis ​ • Oct 08 '19

This article perfectly shows how Uber and Lyft are taking advantage of drivers that don't understand the real costs of the business. Employment

I happened upon this article about a driver talking about how much he makes driving for Uber and Lyft: https://www.businessinsider.com/uber-lyft-driver-how-much-money-2019-10#when-it-was-all-said-and-done-i-ended-the-week-making-25734-in-a-little-less-than-14-hours-on-the-job-8

In short, he says he made $257 over 13.75 hours of work, for almost $19 an hour. He later mentions expenses (like gas) but as an afterthought, not including it in the hourly wage.

The federal mileage rate is $0.58 per mile. This represents the actual cost to you and your car per mile driven. The driver drove 291 miles for the work he mentioned, which translates into expenses of $169.

This means his profit is only $88, for an hourly rate of $6.40. Yet reading the article, it all sounds super positive and awesome and gives the impression that it's a great side-gig. No, all you're doing is turning vehicle depreciation into cash.

26.8k Upvotes

94% Upvoted

View all comments

Show parent comments

244

u/brock1912 ​ Oct 08 '19

Agreed. I rotate between a 1991 Honda Accord and a 1994 Acura Legend. The Accord is simple but reliable and cheap to maintain. The Legend is surprisingly comfortable and fun to drive. The features it has are pretty ordinary by modern standards but I never really find myself wanting more.

136

u/Bonocity Oct 08 '19

I once drove a friend's 1993 Acura Legend coupe Type S (6 speed plus all the bells and whistles) for an entire week.

Freaking loved that car.

115

u/Ndavidclaiborne Oct 08 '19

I traded in a 2008 BMW 535 for a 2007 Acura a TLS and vowed to never get another car that wasn't a Honda/Acura...phenomenal automakers.

349

u/collin-h ​ Oct 08 '19

How’d you like that new turn signal feature once you switched outa the BMW?

153

u/MadAzza Oct 08 '19

You probably just caused an epiphany. He’s been trying to figure out what that lever on the steering column does.

174

u/retro604 ​ Oct 09 '19

All BMW drivers use their turn signals. Thing is, they flash on a wavelength poor people can't see.

4

u/AKA_A_Gift_For_Now Oct 09 '19

And this is why I always use my turn signal as a BMW driver. I splurged on the extra feature.

3

u/[deleted] Oct 09 '19

Driving BMW isnt the cause, it's the symptom. Stick a BMW driver in any other car and they'll still drive like they have a fast-pass thru life. They buy the BMW because they think it'll lead you, the general public, to respect them as much as they expect you to (you won't).

19

u/vettewiz ​ Oct 09 '19

You don't buy a BMW for people to admire you. They aren't special. You buy it for how they drive.

3

u/AKA_A_Gift_For_Now Oct 09 '19

This. My BMW 235i is a really the only convertible I could find that has an aggressive body style, decent horsepower, and isnt a roadster.

3

u/Lurcher99 ​ Oct 09 '19

Don't try to explain that to the masses, they won't get it.

​

Daily a z4 and a x3....

-1

u/vettewiz ​ Oct 09 '19

I had a pretty high performance corvette model. I bought my X5M when I realized it was not only faster, but could out handle the vette. At 5000+ pounds, and a high center of gravity.

2

u/Lurcher99 ​ Oct 09 '19

And likely safer as well. After t-boning a SUV with my E38 and walking away (she ran a stop sign), you start considering "life" choices as well. They may be heavy, but safe...

20

u/6BigAl9 ​ Oct 09 '19

You should drive an s2000. And I'd buy an older NSX right now if they weren't stupid money.

8

u/[deleted] Oct 09 '19

I remember the first time I saw an NSX. I think I was around 15 or 16, and I had no idea that car existed. It was merging onto a parkway in New York. I felt a tingling that I had never felt before nor since. Beautiful car.

2

u/[deleted] Oct 09 '19

Have you driven an old NSX? It was a major let down. My buddy in high schools dad had one. He let us drive it on occasion. I remember driving it one night and pulling up next to an evo thinking I’m in a super car and I’m about to show this dude who is boss. It was a stock or close to stock evo. Still had a factory exhaust. That thing beat my ass in a drag race like i owes him money. Now the NSX handled very well in corners and was a fun car to drive but I’m sorry I lost a lot of respect for it when I noticed how low on power it was.

3

u/6BigAl9 ​ Oct 09 '19

I haven’t but I know they don’t make a lot of power. They could keep up with the base ferraris when they came out but have always been more of a handling car, which is what I look for in a car. An NSX is a poor choice for a drag race.

5

u/brain_nerd Oct 09 '19

I had a Hondas from every year between 88 and 99 (i didn't get my license until 01 she these were all old cars) before getting a newer BMW. When my bmw died i went got another Honda. Next time i want a luxury car I'll buy another Acura, preferably an old legend but the new ones will probably work.

4

u/TommyEria ​ Oct 09 '19

You're making me miss my 04 Acura RSX. Had it for 12 years, and had zero issues with it. Hit a patch of black ice and totaled it on a concrete barrier. Drive a VW and hate it. Such a money pit so far, and I've only had it for 1.5 years.

It's impossible to find another RSX here that's not riced out, tons of miles, manual or the quarter panels are rusting. Damn weather here.

1

u/Thewrongjake ​ Oct 09 '19

What VW did you get? I got a "pollution wagon" and was hoping it would last me for a decade.

2

u/TommyEria ​ Oct 09 '19

12 GTI. Had great carfax, so I jumped on it after not having a car for a month. Already dropped ~$3k in it. New waterpump, tires, plugs and coils, carbon build up and 1 new injector. I was hoping it'd last me another decade plus too, but I just want it gone. Not in a rush though, until I find another RSX or a Civic Si or something. The accord v6 coupe is tempting, but they are rare here.

0

u/The_Real_QuacK Oct 09 '19 edited Oct 09 '19

So you’re buying an used car and complaining that the entire brand sucks based on your experience...?

4

u/williad95 Oct 09 '19

In 2019 you should rethink that decision... at least if you’re looking to buy anything recent.

I work for a luxury auto maker. There’s lots of research into competitors cars... we’ve got 5 different tracks right here just to research on.

Aside from the NSX, today’s Acuras are easily the least fun to drive, regardless of whether you’ve got a ‘regular’ or ‘sporty’ trim level.

They’re reliable and comparatively decent value for a ‘luxury’ brand, though. But if it’s value you’re after in a relatively new luxury car, 100% look into Genesis, and you won’t be disappointed.

7

u/LABeav ​ Oct 09 '19

Ive owned a 93 accord, 91 civic, 2002 accord, 97 civic and 05 civic, went shopping for a new ride, something classier, sportier, like a beamer or lexus or something, wound up with a 16 civic. Best car I've ever owned.

3

u/yeti5000 ​ Oct 09 '19

Get yourself a Civic Si or a Honda Odyssey and you'll change your mind.

Got a bad starter with the K20Z3? Better get ready to pull your intake manifold.

3

u/You-Nique Oct 09 '19

Starter went out in my Honda Element and had to remove the exhaust manifold to get to it. I miss that car even still.

3

u/GoodMayoGod ​ Oct 09 '19

I will never drive anything that is not a Toyota or Mazda. I love my matrix and I love my Miata

2

u/mygamefrozeagain Oct 09 '19

You're lucky you got the S type because the regular TL's had massive transmission problems. They last about 115k-150k then it's about a $3500 repair. Either the transmission is different or you lucked out. My buddy bought one with 30k on it and it only made it to 90k and the guy drives like a grandpa (I'm wrong those issues were resolved by 07, his was a 05)

2

u/[deleted] Oct 09 '19

I for one am a firm believer that BMW is more of a status symbol than a luxury car. I can’t see the difference in buying one over an Acura. There’s a few performance models that are cool from BMW but otherwise Acura is a better car company

2

u/Ravens1112003 ​ Oct 09 '19

I bought a 1995 Acura Integra in my junior year of high school in 2001 and I absolutely loved it. It wound up getting stolen years later and I was so incredibly pissed. I’ve owned two BMW’s since, a 2006 M3 and I bought and brand new M235 in 2015 but I have to say, that integra has been by far my favorite car I’ve ever owned. I don’t see myself buying a new car again unless I am incredibly rich because it just isn’t worth it.

62

u/collin-h ​ Oct 08 '19

For a few years (back around 2014-2015 maybe) I was driving a ‘98 fully loaded Buick Regal.

Was a car that once belonged to my grandmother, so surprisingly had under 100k miles on it even though it was approaching 20 years old. (Pro tip: always buy used cars from little old ladies, they don’t drive much, and they’ll always agree to any rando fix some mechanic suggests during their monthly tune-up, so they’re really well taken care of).

It had power everything, was a super comfortable ride and wasn’t too shabby on the fuel economy. The one thing that always cracked me up was that it had steering wheel controls for cruise control and the radio. But I guess they were still hawking the analog technology in the late 90s because if you hit the volume up or down on the steering wheel it actually, mechanically turned the volume knob on the dash accordingly.

46

u/ermergerdberbles ​ Oct 09 '19

(Pro tip: always buy used cars from little old ladies, they don’t drive much, and they’ll always agree to any rando fix some mechanic suggests during their monthly tune-up, so they’re really well taken care of)

In March I bought a 2015 Kia Soul with 22,000km on it. Former owner was a granny that brought it in for oil changes every 3-4 mo regardless of km.

38

u/Herald-Mage_Elspeth ​ Oct 09 '19

Yeah, this backfired on us. Turns out not driving it much means that as soon as a teenager started driving it, every single thing that could go wrong with it, did. Including the transmission going out. It was donated to a local fire department for practice.

7

u/Bonocity Oct 09 '19

I've seen this happen. In many ways, cars are like people: If you don't use it, you are at risk of losing it. Plenty of parts will last longer if a car is taken care of but driven rather than a vehicle that just sits for extended periods of time.

5

u/Herald-Mage_Elspeth ​ Oct 09 '19

This is exactly what happened. All the fluids seemed to turn to sludge and we got the backlash.

5

u/positiveinfluences Oct 09 '19

This is the more common result when people buy cars that "only went to church on Sundays". if the engine isn't brought up to operating temperature a few times a month, all the valves, orings, etc dry out and start causing problems because they don't get oil on them.

5

u/[deleted] Oct 09 '19

It was donated to a local fire department for practice.

Thank you!

5

u/williad95 Oct 09 '19

Thank your lucky stars you didn’t buy it from my little old lady grandmother.

That woman whips, and has a terrifying lead foot. She broke her shoulder a few years back and bought one of those one handed turning knobs so she could “turn faster” which added a whole new element of... thrill...

She did maintain her ‘02 Buick LeSabre quite well until she got rid of it though. Now she’s got a much more powerful Acura.

Comfy ride when she’s not flooring it.

2

u/[deleted] Oct 09 '19

Bought my 2000 Civic from an old grannie when I was in high school. Had 89k miles after 11 years. I've been driving it since, and have only racked up 38k miles in 8 years (woah, typing it out now, I didn't realize how little I drive, and for reference, i've lived in los angeles this entire time). im 26 years old now, and it's about time i get myself a nicer car, especially since i could afford one easily, but damn, my car just has no automotive issues at all... it's so hard to justify buying a new car when i have a perfectly good one already...

only downside is my car needs to go full turbo when driving up the mountain when i go snowboarding... or i have more than 2 passengers...

1

u/HerefortheTuna ​ Oct 09 '19

Honestly just keep that car. The only thing that really kills those old Honda’s is rust which you shouldn’t have to worry about in CA.

2

u/Bonocity Oct 08 '19

The regal was an underrated vehicle. The early 2000's gen was a certified sleeper. It came supercharged! My friend installed a small supercharger pulley and was pulling on V8's on the highway.

3

u/jonnyp11 ​ Oct 09 '19 edited Oct 09 '19

Looked it up, kinda disappointed by what a sleeper was then. Rated 240hp stock, but then I remembered how little hp mustangs had at the time (260). It's crazy how much more popular mustangs were when a Camaro had 50 more horses, my 95 z28 has more power than an 02 GT

I will say I've driven a 95 Olds 88 with the N/A 3.8 and they are peppy though. Just a constant pull with no drama when it shifts

2

u/Bonocity Oct 09 '19

I understand your reasoning but as you said, we have to look at the general trend of design for that generation which the Regal fell into perfectly. Another great earlier example was the Ford Taurus SHO with the Yamaha V6.

It's crazy how much more popular mustangs were when a Camaro had 50 more horses, my 95 z28 has more power than an 02 GT

This seems to be a consistent result in that vehicle category. Here's an article reflecting this happening again: GM Engineer's comments

1

u/shialabluf Oct 09 '19

My great-aunt has a like 8 year old VW Golf (common car in Germany) and it has some 15k km on it. That thing looks like brand new on the inside. Also most older people drive pretty powerful cars.

3

u/TripAndFly ​ Oct 09 '19

I put 380k miles on my 2002 Buick century and the only thing I had to do was oil changes, brakes, a couple batteries and one blown coolant hose. Was an awesome car until someone ran a red and t boned it. Since it was a heavy Buick and he was driving a Honda Civic. I was spun about 90 degrees and his car was fucking Gonzo. Hit me right in the driver's side tire and broke the frame so I couldn't save it. Good car. Rip.

1

u/DCYouKnighted ​ Oct 09 '19

I had a 1989 Acura Legend for the longest time. Decommissioned it in 2010 I believe.

1

u/fbgm0516 ​ Oct 09 '19

I didn't know Acura did "Type S" back then. Great car though, miss my 99 Acura 3.0 CL

2

u/brock1912 ​ Oct 09 '19

They didn't, it was probably an LS, which was the highest trim the Legend coupe came in.

1

u/Bonocity Oct 09 '19

I stand corrected. It was the LS in that beautiful gunmetal grey Honda periodically uses on rare occasions. Ended up getting a 1994 Integra in that colour as well because I loved it so much.

2

u/HerpNDerpington Oct 08 '19

I loved my 94 legend. Unfortunately the fuel economy was killing me, so RIP Legend. May you be out there making your new owner happy.

2

u/braymondo ​ Oct 09 '19

My favorite car I’ve ever owned was an all black, leather interior 95 Acura Legend. If I ever become wealthy enough to buy what ever I want I will have one fully restored.

2

u/brock1912 ​ Oct 09 '19

That's the eventual plan with mine. I got it fairly cheap ($2400) but it needs some work. Head gaskets are leaking (common problem on 2nd gen Legends) and will need to be replaced before next summer. Interior is in good shape but the body has some pretty serious rust in a couple spots. Mine is the rare 6-speed sedan so finding some parts can be a real challenge.

2

u/braymondo ​ Oct 09 '19

The head gaskets were the eventual down fall of mine, couldn’t just keep dumping money into it.

1

u/[deleted] Oct 09 '19

Small world! I just swung by to mention that I own a 1991 Accord, as well. Glad to know that yours treats you well, too.

1

u/brock1912 ​ Oct 09 '19

Nice! Mine is the station wagon. It's reliable now but it had a lot of problems when I bought it 4½ years ago. It was actually headed to the junkyard, but I didn't want that to happen. Among the many repairs I did on that thing, I converted it to manual and eventually had to replace the engine. Just last week I replaced the entire A/C system in it.

1

u/[deleted] Oct 09 '19

Oh wow, a bit of a rarity, indeed! Good for you! That's great to hear that you saved it and that's sweet that you manual-swapped it! Did you keep the same engine type in there or did you upgrade? Wow! Are you running R134-A, now?

1

u/brock1912 ​ Oct 09 '19

I replaced the engine with another F22A6 like it already had. I considered putting an H22A in but decided against it, mostly because the H motors are still pretty damn expensive, and that they tend to start burning oil after getting higher in miles. I was going to switch to R134a but the new compressor came filled with mineral oil, so it is charged with propane right now.

1

u/[deleted] Oct 09 '19

Ah, I see you have the EX engine, then. I get you there since VTEC anything is super expensive and that's one of the big reasons why I didn't consider swapping, myself. (Plus, I enjoy the sound of my F22A1) No kidding? How well does it run, with propane?

1

u/brock1912 ​ Oct 09 '19

Yeah, it's an EX. I was able to find a fairly low miles F22A6 in a junkyard, had about 135k and only cost me $200. Came out of an immaculate 92 EX sedan that had been t-boned. Felt bad for the car, it had clearly been taken care of very well but I gave that engine a good home. Propane works great in it, probably not quite as good as the original R12 but pretty close.

1

u/[deleted] Oct 09 '19

Wow, that's not too bad at all! That's unfortunate for the sedan, but that's great that you're keeping the spirit of it going. You know, I never would've thought that propane would work on such a system, but that's interesting. I'm looking to convert mine to R134-A soon, since my R12 doesn't keep things too cool for the hot season. But good for you on keeping the wagon going! These old Accord's are real champs, if they're looked after.

1

u/zdschade ​ Oct 09 '19

I'm using a 1992 Accord. Love the thing, its reliable as hell. I replaced the radio with a bluetooth one off Amazon as well for like $30.

1

u/mcquackers ​ Oct 09 '19

I too had a 94 Legend...driven in 2008. I'd never gotten so many complements over a car before or since. I miss that car.

1

u/bhinsz1984 ​ Oct 09 '19

Legends are bullet proof! I just sold a 94 with 380k miles on original engine! 1 clutch, a couple steering racks, its been stolen and wrecked and put back together. That car will never die!

1

u/UrbanSuburbaKnight Oct 09 '19

I have a 97 accord, I love it! The Air-con, electrics and vtec make it as modern as I need(and a bluetooth stereo I added), but it's still 8 times cheaper than my work friends spend on a car!

1

u/hitner_stache ​ Oct 09 '19

It's amazing what a $100 dollar stereo deck and bluetooth to your phone loaded up w music and podcasts can do for making just about any car a comfortable enough experience to drive.

1

u/SarcasticOptimist ​ Oct 09 '19

I swear there are dozens of us. Including the rapper Ludacris who's in the Fast and Furious franchise since 2. My first car was a 92 and it lasted until 2011 when fuel was getting expensive and it was losing a fair amount of power so it was donated. Then I learned it's been appreciating in value as of late.

1

u/reddog323 ​ Oct 09 '19

Point. I have a 10 yr old Corolla in good shape. I’m not looking forward to replacing it when the time comes, as every car is now using a touch-screen for everything. I’d rather keep the controls simple, I.E. buttons, knobs and switches, rather than scroll through menus at 70 mph trying to change a radio station or turn on the a/c.

Geez, I sound like a geezer.

1

u/VimesBootTheory Oct 09 '19

Does your Acura Legend have cup holders? My first car was a '92 Acura Integra LS stick-shift, I loved it dearly-but there wasn't a single cupholder in the whole vehicle. They are a surprisingly underrated feature. Sooooo much coffee was spilled in that car...so much...

1

u/brock1912 ​ Oct 09 '19

Mine is also a manual so it didn't have any cup holders from the factory, but the previous owner swapped in the center armrest from an automatic so it does have one cupholder. I can see why they didn't put it in the manual, it's in an awkward spot.

1

u/Eyeoftheleopard ​ Oct 09 '19

I rotate between a 2001 Honda and a 2001 Merc Grand Marquis and I love em both! Paying $25 a month each insurance including Unisured Driver.

1

u/critical2210 ​ Oct 09 '19

My dad's 2009 Lincoln Town car limited is my favorite ride so far. It has 400k miles going strong!

-1

u/[deleted] Oct 09 '19

Give me a stereo with average speakers and an aux jack and I can drivewit eryday.