Rideshare Earnings Calculator
Calculate your true Uber and Lyft earnings after gas, vehicle depreciation, maintenance, and self-employment taxes. See what you actually take home.
How to Use This Calculator
- 1.Enter your average gross hourly (what the app shows)
- 2.Add your weekly driving hours
- 3.Enter your vehicle's MPG
- 4.See your true earnings after all costs
Understanding Rideshare Costs
The Gross vs. Net Gap: The earnings you see in your Uber or Lyft app are gross earnings. Vehicle costs can eat 30-50% of your apparent income. This calculator shows you what you actually take home.
Dead Miles Matter: Time spent driving to pickups or repositioning generates no income but costs money. Urban drivers typically have 15-25% dead miles; suburban drivers can see 30-40%.
Vehicle Choice is Crucial: A fuel-efficient hybrid (40+ MPG) can save $2-4/hour compared to a sedan getting 25 MPG. Over a year of part-time driving, that's $2,000-4,000 in savings.
Common Questions
What is my true hourly rate as a rideshare driver?
Your true hourly rate = Gross earnings - Gas - Depreciation - Maintenance - Self-employment tax (15.3%). Most drivers see 30-50% of their gross evaporate to these costs. A driver earning $25/hr gross may net only $12-15/hr.
How much does driving for Uber/Lyft cost per mile?
Total cost is typically $0.30-0.60/mile including gas ($0.10-0.20), depreciation ($0.15-0.25), and maintenance ($0.05-0.10). The IRS mileage deduction rate for 2024 is $0.67/mile, which accounts for all these costs.
What car is best for rideshare driving?
Fuel-efficient hybrids (Toyota Prius, Honda Insight) are ideal - 40-55 MPG saves $2-4/hour vs. 25 MPG sedans. A used hybrid can save thousands annually. Avoid expensive vehicles with high depreciation and repair costs.
Should I track mileage or actual expenses for taxes?
Most rideshare drivers benefit from the standard mileage deduction ($0.67/mile for 2024). Actual expenses method is better if you have a very fuel-efficient car with low maintenance. You can only choose one method per year.
Is Uber or Lyft better for drivers?
Pay rates are generally similar. Many drivers run both apps simultaneously to minimize downtime. Test both in your market - demand and surge pricing can vary. Lyft sometimes offers better bonuses for new drivers.
How many hours should I drive per week?
Part-time (15-20 hours during peak times) often yields the best per-hour returns. Full-time driving increases wear on your vehicle and can lead to burnout. Focus on high-demand hours: rush hours, weekend nights, events.
What are dead miles and why do they matter?
Dead miles are miles driven without a passenger (to pickups, between areas). They cost gas and depreciation but earn nothing. Track your dead mile percentage - if it is over 30%, consider repositioning strategies.
Do I need special insurance for rideshare?
Yes. Regular personal auto insurance may not cover accidents while driving for Uber/Lyft. You need rideshare endorsement or commercial coverage. Check with your insurer - gaps in coverage can be financially devastating.
Related Tools
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DrivingDriver Tax Estimator
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DrivingDelivery Calculator
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DrivingMulti-Gig Planner
Plan optimal schedules combining multiple gig platforms.
Rideshare earnings vary significantly by market, time of day, and driving strategy. Uber and Lyft frequently change their pay structures. Track your own data for accurate figures. This is not financial advice.