Driving for Uber is one way to supplement your income from another job — or as a main job if you like to work on your own schedule. While the company recently ended its financing and leasing programs, you still have other rental and financing options to choose from.
Uber discontinued its financing program in 2017, when it was reported that many drivers struggled to earn enough money from driving to pay for the high monthly payments and outstanding interest rates from their car loans.
Similarly, Uber sold its leasing program Xchange to Fair in 2018 after reportedly losing $9,000 per car on average. While Uber mentions a fleet program on its website that involves driving a car belonging to someone else, there isn’t any further information on how this works.
If you don’t currently have a car and need one for personal use as well as for your side hustle, you may want to consider buying or leasing your own car. Buying a car could cost you anywhere from $15,000 to upwards of $50,000, while leasing would likely run you at least $200 per month with an extra amount due at signing.
While independently buying or leasing may cost you more up front, it gives you freedoms you wouldn’t have if you were renting. These include the option to customize the car to your liking without paying any extra fees.
Yes, but you’ll need to rent from one of Uber’s partners. Options include hourly, daily, weekly and monthly rentals.
While it’s up to you to decide which type of car to drive for Uber, there are several requirements it needs to meet:
Whether you rent a car or buy or lease your own car to drive for Uber depends on your personal situation, including your budget and goals.
If you have a car that fulfills all of Uber’s vehicle requirements, you’re ready to sign up. Either download Uber’s mobile app or go to its website to begin the process. The application will ask for your contact information and Social Security number. You’ll also need to upload a photo of your driver’s license, vehicle insurance card and vehicle registration for the background check.
As of December 2022, Uber is accepting applications from drivers in New York City either full time or part time. Go to the Uber website to see the latest opportunities.
Uber requires new drivers to provide the following documents:
You may be asked to provide additional documentation depending on where you live.
Driving for Uber may be able to help you earn some extra cash on the side. But you’ll need to use your own car or rent one through its partners to qualify.
Learn more about driving for Uber and your car financing options.
In order for your car to be Uber-eligible, it must be less than 15 years old.
The approval and activation process typically takes up to a week, according to Uber’s website. However, each city varies.
It depends on where you live, how many hours you clock in and what days of the week you drive.
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