I watched this video in order to cultivate some skepticism in myself, and it has proven impossible to shake the argument it makes.
Best case scenario, if you work late nights and work a lot, you are still barely breaking even with the miles you are putting on your car. If you don’t have a new car with great mileage, there is just no way you are going to make any money. By the time you fulfill all the entitlements of Uber passengers with food, drinks, and gum, you are probably spending money to drive for them.
It makes the most sense to people who need short-term cash-flow and are not worried about hurting their vehicle’s equity. But I think that those situations would be better remedied by improved personal finance habits rather than depreciating your car.
That said, I really enjoy meeting all these new people and having interesting conversations with them.
I do not anticipate doing any more ridesharing.