Buying A NEW EV For Rideshare - Is That The Best Thing To Do?

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Buying A NEW EV For Rideshare - Is That The Best Thing To Do?

Рет қаралды 3,823

Күн бұрын

Sergio interviews Jeff from Texas, a driver to discuss getting a new EV for rideshare. Jeff also shares his story on why he's driving and where he came from.
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About The RideShare Guy:
I'm Harry, the founder of The Rideshare Guy. I started driving for Uber and Lyft in 2015 and eventually quit my day job as an aerospace engineer to run The Rideshare Guy full time.
These days, I'm a trusted media expert on all things rideshare and have a number of contributors across the country who are all driving for Uber and Lyft and other gig companies like Instacart, Doordash, and Postmates.
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Пікірлер: 73

@Therideshareguy 5 ай бұрын

Thank you Jeffrey for coming on and sharing your story. Do you have a story you would like to share? Send us an email and you might be on the next episode of Behind The Wheel: Driver Stories 📺 Watch this video NEXT: kzfaq.info/get/bejne/pap1acidur2unJs.html 👉 See how much money you can earn driving for Uber in YOUR city: yt.therideshareguy.com/uber-driver/

@dougf9900 5 ай бұрын

If I was in the market for a new Uber vehicle today, I don't think I'd bother with an EV. If Uber is going to shrink the incentive, who's to say they won't shrink it again next year? I bought an EV in 2022, so I've been getting the EV incentive since. The new incentive is going to cost me about $120 a month, and force me to wait for my money vs getting it every week. Uber talks out of both sides of their mouths. They claim they want to increase the number of EVs in their fleet, but lessen the driver incentive to do so. Why would a rental driver rent an EV when a gas car is cheaper? Makes no sense now when your EV incentive is capped at 200 trips a month. With the price of electricity in my market, a hybrid would be cheaper to fuel than an EV. What tipped it in favor of an EV was the Uber incentive.

@rogerwilco1777 5 ай бұрын

Corolla Hybrid is the cheapest right now.. even cheaper than the Elantra hybrid.. plus it looks like a normal car, so you dont get all the classic road rage that comes with driving a Tesla or Prius!

@dougf9900 5 ай бұрын

@@gxx292 Which is why I bought a Chevy Bolt for $26k after the various incentives. I haven't had a problem with passengers tearing up my vehicles. I did 200k miles in my Chevy Cruze and it still looked mint inside and out (even though mechanically it was a POS).

@onedaily2471 5 ай бұрын

The key issues with EVs: The cost upfront is much higher. Financing charges are higher. They depreciate at a higher rate than internal combustion cars. The insurance is more expensive, by at least 25 percent. Repairs are much more expensive, if you can get them done at all, and take longer. Tires are more expensive and don’t last as long because the car is so heavy. Refueling is not easy and missteps can have nightmarish consequences. They are more likely to catch fire. Any minor motor vehicle accident that impacts the battery can lead to repairs higher than the value of the car. It now costs more to charge than to refuel hybrid with gasoline.

@SabertoothX 5 ай бұрын

He is right. As a driver in Austin. I work the airport and everyday people from other cities and states come here and then ask us why is it so slow or not getting rides and I tell them it's because of of them coming to our city. Go back to your city and stop flooding our city with bad drivers who don't know how to navigate the city.

@Mr5Stars 5 ай бұрын

Tesla are amazing, however For those looking for an EV deal, consider a used Chevy EUV. My 2023 CHEVY EUV has been amazing. I charge at home at $0.65 of Electricity for over 200 miles per range is amazing. HOWEVER, If you drive over 200 miles per day, the slow PUBLIC charging sucks with this EV.

@tarokame1530 5 ай бұрын

If you drove 200 miles every day, you will probably have to buy a new car before finishing the loan payments on the current one lol

@HoustonRideshare 5 ай бұрын

I bought a brand new Tesla Model 3 in December 2023, and it has worked out great! However, I agree with Jeff that a person has to be in a position to buy an EV; otherwise, it can get complicated.

@Voltaic_Rider 5 ай бұрын

A new hybrid would be way more worth it

@nikidelvalle 5 ай бұрын

No one should buy an EV for incentives, they should buy them to lower costs. The Chevy Bolt is easily the best car you can get for the gig economy right now, even more than the Prius. Absolutely dirt cheap, acceptable range, low maintenance costs, and the EUV qualifies for Comfort and Comfort Electric.

@nickhummer5775 5 ай бұрын

I feel his story. I bought the same car. With high risk. He should be good in Austin. With premier and black. He can make more. But he’s doing it now. No backing out now. But if they remove premier and black. I’m out. Selling the car. And moving on to new ventures

@bostonmatt 5 ай бұрын

Great interview as always, Sergio! Great job Jeffrey!

@sergioSMTMC1 5 ай бұрын

Thanks

@VinnyKuzz 5 ай бұрын

Jeffrey sounds as if Im talking to myself, we are working the apps the same way!! Good interview.

@sergioSMTMC1 5 ай бұрын

Thanks

@myrideATX 5 ай бұрын

Thanks @VinnyKuzz. You are one of the many who taught me how to drive profitably. Many, many thanks to you!!!

@Paidoolivinho 5 ай бұрын

I have a model 3 and I am getting rid of, not worth at all.. many reasons. It was a good experience but not worth financial.

@j2production49 5 ай бұрын

I was in the car business for 15 years , it’s been good, it’s been bad.. but it taught me about PHEV’s. I’ve done rideshare with true EV.. and it’s not bad but I found it to be a bit inconvenient as far as charging. I bought a PHEV it its great for rideshare .. 28 bucks to fill up around 600 miles on a tank and can run ev if wanted. Granted not a ton of miles but still super efficient., the car charges while driving etc..def worth looking into.

@FutureRideshareMillionaire 5 ай бұрын

Excellent interview Sergio.

@mjohnsimmons 5 ай бұрын

Buy a $40,000 EV for Uber so they can offer you $2.66 for a delivery,,,,, no no no

@choongta 5 ай бұрын

11:10, It's a risk: For the amount of hours that he puts in, that's a lot of mileage. With EV, a lot of mileage means a lot of charging and discharging. That will degrade the battery more quickly - possibly driving without warranty way sooner. Battery replacement ain't cheap. That's the big risk. The only option is to keep the charging 80% max and keep the discharging 20% minimum. There are videos suggesting to keep the max to only 70% and the min to 30%. That translates to about 100 miles of driving before refueling. This is to minimize risk on battery life in EV.

@d.fenestrator9529 5 ай бұрын

Spending more than $5-7k for a car for Uber is a gamble. I paid for my car within a few months with the signup bonuses and fares.

@kenodonnell4313 5 ай бұрын

Why did you not ask the most important question? How many miles have you driven since February and how many hours driven? $3 per mile tines how many miles vs how many hours sitting in the vehicle

@OnlyInLasVegas 5 ай бұрын

Yeah they tell you that you will get $1.00 extra per trip but not really. My base fares all of a suddenly dropped once I started using a electric car and overall made less on average per fare using a electric car for Uber and then you have down time finding a charger and then the time waiting for it to charge when you could be out there driving .

@alletecinc1 5 ай бұрын

I have not heard this channel talk about reservations. What are your thoughts on these trips?

@sergioSMTMC1 5 ай бұрын

Great opportunity if you get them

@alletecinc1 5 ай бұрын

@@sergioSMTMC1 I really like them. I have been able to build some really profitable days with these as a base.

@traviselhardt6989 5 ай бұрын

Alot of people are doing exactly what this guy did. Quiting their day jobs in exchange for the gig work. Then scratching their heads why there is over saturation.

@NeverTooLate546 5 ай бұрын

I have a 2024 model y and I've never seen a $3 a mile ever in my ride pick ups. If lucky it's a bit over a $1. I rented a model 3 via Hertz to try it out first but this will lead you to a burnout soon. Not worth it. Lyft- rides have been getting way too cheap. I don't get the scheduled rides because it's so cheap for the drivers but I know that the customers pay lots more to schedule a ride. I hardly get any comfort rides but instead bunch of XL rides which is ridiculous. The 5 mins wait time is a bunch of bs too. Uber- You should at least get the $1000 for 100 rides (EV) as long as it's completed by the end of May; The $1 extra per ev ride is a bs because it's shaved right off your upfront fare. However there's been alot more "comfort" rides on weekend nights with higher pay and much better tips as well as constant opportunities in West LA area (other places hardly anything). I do feel that there's more pick up opportunities with Uber. But there's also too many drivers who will take the ride instantly without even thinking through.

@pilot-ev1ve 5 ай бұрын

the EV incentive is not applicable to uber black or uber premier. it is only for comfort electric and below, in which I have them off because the pay is way low and I don't want to bother cherry picking

@Profinish-o3t 5 ай бұрын

Bad move getting a Tesla I went back to a gas car, Teslas are over rated, from the depreciation to the rising cost of electric to charge it and the cost of insurance it’s not worth it. Plus charging at the superchargers the wait time and cost comes just as much as gas plus you’ll be going through tires every 20-30k plus regen braking makes your car sick I’m so happy I went back to gas, you’ll never get $3 a mile I had a Y performance never got that amount my battery degradation was horrible went from 300 miles to full charge to 260 miles and only 50k miles on the car so ya good luck dude

@Casualmike729 5 ай бұрын

The prius is still king!

@rogerwilco1777 5 ай бұрын

Hybrid Corolla. Little bit cheaper and they got AWD now.

@gonaturalwithjennifer 5 ай бұрын

Yeah, but you can't drive black or premium. You are stuck only driving basic.

@rogerwilco1777 5 ай бұрын

Teslas are some of the worst rated cars (J.D. Power/Consumer reports).. same with the Bolts and the Leafs etc.. plus the insurance is about 50% more in a Tesla, tires wear faster etc.. You want a Hybrid. Used Prius's rule this industry for a reason.. If you must buy new, then Corolla Hybrid is probably the best option. Its cheaper than a Hyundai Elantra, will most likely last longer and hold its value better, and now has an AWD version. You can go 500+miles on 10gal of gas and don't have to waste an hour of your day charging.. (and don't worry about those 'incentives', they're basically B.S. anyway once you factor in all the extra costs and downtime of operating a full EV)

@bostonmatt 5 ай бұрын

I’ve had more expensive cars, but 65,000 miles in, my Tesla is the absolute best car I’ve ever had. By far. Zero regrets.

@lancefernandes7415 5 ай бұрын

Another great interview Sergio i always learn something from you and your guests. I have been a part time driver for awhile and may become a full time driver later this due to becoming a family caretaker. I will need to work as much with as much flexibility as possible. I will need to be getting a newer car what else would you suggest to make as much money as possible if I didn't go the route of an EV of course I'm thinking a Toyota Prius but any suggestions is appreciated.

@sergioSMTMC1 5 ай бұрын

Thanks, prius is still the king, get a 5 year old one with most of the depreciation gone

@lancefernandes7415 5 ай бұрын

@@sergioSMTMC1I assume the Prius doesn't qualify for higher end rides but I assume I would be great with one anyway thank you so much I learn a lot from you

@sergioSMTMC1 5 ай бұрын

@lancefernandes7415 thanks, no it doesn't qualify for comfort but those don't pay that much more than X, if you need a workhorse with great mileage, primus is the right call

@user-hb3ju6vy5c 5 ай бұрын

Jeffrey do you use any 3rd party apps to help you with each ride calculation?

@Jgroovin1 5 ай бұрын

Make a video on the new Intercity feature. Educate us

@sergioSMTMC1 5 ай бұрын

We have a major segment on it Tuesday on SMTMC

@kenodonnell4313 5 ай бұрын

And who puts $20k down on a car that will lose $20k in value in one year? That's really stupid

@jredge5957 5 ай бұрын

Toyota sienna

@onedaily2471 5 ай бұрын

Hertz CEO was fired recently for doing 20% of Hertz fleet as EV, this guy is going in 100% "There's a new sucker born every minute"

@sergioSMTMC1 5 ай бұрын

Your opinion of course, actually I would like to interview complaining drivers for the next few episodes, why they keep complaining but still keep driving, if interested, sergio@therideshareguy.com

@onedaily2471 5 ай бұрын

@@sergioSMTMC1I quit driving last Summer. I have also tested EV and all other levels, except Black. The result was pretty much the same, only you work less hard for the same money with XL and Lux. BTW, I am not only the “complainer,” but also told Uber and Lyft to go f*ck themselves - I quit, and not coming back as a slave (aka misclassified as independent contractor) As far as to why other drivers continue driving, it’s multi factorial, human psychology, and not “one size fits all.” The most common reason is the same as to why people continue working in sweatshops.

@sergioSMTMC1 5 ай бұрын

@@onedaily2471 you would make a perfect interview email me

@GameChangerMediaGroup 5 ай бұрын

Where is the link to his rideshare guy story on purchasing the Tesla?

@sergioSMTMC1 5 ай бұрын

@chris.coffin 5 ай бұрын

I'm waiting for the Toyota to come out with their Hydrogen Vehicles

@onedaily2471 5 ай бұрын

Toyota has a hydrogen vehicle, and they used to give free hydrogen fuel for two years, not sure if they still do - it’s called Mirai, ~$50K

@chris.coffin 5 ай бұрын

@onedaily2471 just watched a video 2025 they have 1000s of these vehicles. Better 50k for that then a lame ass Tesla with shit range.

@Tgl24790 5 ай бұрын

EV cars are waste of time you have to charge this thing at least three times a day takes about an hour to charge these cars and it will cost you more than us on the long run almost $25 per charge. I did the mistake of renting a ev did not work well for me, I will leave the house by 7:30 and come home by midnight just to make sure the car was charged for the next day. It is totally not worth it.

@bostonmatt 5 ай бұрын

You don’t have a Tesla, right? None of that is true for a Tesla fyi

@nikidelvalle 5 ай бұрын

Not only is none of that true, but even if it was EVs don't need oil or transmission fluid changes.

@Tgl24790 5 ай бұрын

@@nikidelvalle like I said, I had my own experience with EV cars. I’m a current Lyft driver. It’s just a waste of time if you in a real busy area, you might take some benefit out of it but just a waste of time on charging this car throughout the day it’s just annoying. You can barely find charging stations and again this depends on what state you in it takes me less than five minutes to fill my tank and I can drive 440 miles a day and still have the next day EV cars are made for old people and people maybe to go run a few errands but not working Car

@nikidelvalle 5 ай бұрын

@@Tgl24790 So have I, which is how I know you're lying. I had a 260 mile range Chevy Bolt (not a great range by any metric) I rented and I could easily work for nearly 5 hours before having to charge. Once per day charging is fine, gives time for a lunch break, and the reduced costs of operating that vehicle far more than make up for the loss in work time revenue. Maybe the real issue here is that you're taking long, low paying orders instead of waiting for rides that are actually worth taking hm? Also unless you don't live in a metropolitan area, there are charging stations everywhere. Hell I have two completely free fast chargers in my area, which is yet another boon in terms of operating costs. If I go to one of those every time, I wipe a 100+ dollar expense off my books every week while also greatly reducing the number of miles I'm putting on my car.

@d.fenestrator9529 5 ай бұрын

EVs are increasing insurance rates for everyone because if the battery gets damaged in an accident it's totaled. Plus, even if you don't drive one you could hit one and total it by damaging the battery. Not to mention the extra wear and tear they put on the roads because of the heavy batteries.