How To Earn A Second Income With Uber

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Whether you’re struggling to pay your bills or want to earn extra cash, having a secondary income can make a huge difference to your finances. The right gig might also turn out to be a productive and fun way to spend your free time.

Becoming an independent driver for Uber makes this possible. Used correctly, and by implementing the right tips and tricks, this ridesharing service can be very lucrative. Be aware, though, the professionals at Canadian Tax Amnesty advise in an article they wrote that income generated through Uber is taxable.

What Do You Need To Start Driving For Uber?

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The basic requirements to qualify as an Uber driver are as follows:

  • You must have a smartphone
  • Own a four-door vehicle in good condition and not older than ten years
  • Be above the age of 21
  • No recent severe accidents or DUIs
  • Submit to a vehicle inspection 
  • Submit to a criminal background check

Insurance Requirements

As an Uber driver, the company requires that you have standard personal auto insurance. While you’re carrying passengers, the business provides excess collision coverage with a $1,000 deductible and primary liability insurance up to $1 million. This expense is covered by taking a certain amount out of each fare.

How Do You Benefit From Driving For Uber?

Ridesharing’s flexibility allows you to earn a decent income by working the hours that suit you. You’re free to take off as much time as you need for personal matters and come back to work when you see fit. On the flip side, if you need more money, you ramp your hours.

How Do You Become An Uber Driver?

Applying is easy; you simply visit the company’s website and fill out the relevant forms. After this, your vehicle needs to be inspected, and you need to submit to a criminal background check. If you qualify, you’ll be requested to sign a standard driver agreement with the company. Drivers that complete at least 20 rides typically qualify for a signup bonus.

How Does Uber Know You’re Available?

It’s up to you when and how much you want to work. If you’re available, you need to notify the company through its mobile app by logging in. When you’re tired or need to take a break, you log out. It’s that simple.

How Much Can You Expect To Earn?

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Your potential income is dependent on many different factors. On average, you can expect to earn between $15 and $20 per hour, before expenses. How much you’ll make annually, however, rests on your shoulders.

How Do You Receive Payment?

Ridesharing with Uber is a cash-free system. Users pay and tip with a credit card registered during the signup process. Each driver’s earnings are recorded through the company’s app, and they get paid weekly via direct deposit to their bank account.

Is This The Perfect Opportunity?

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Unfortunately, there’s no such thing as the perfect opportunity. As long as you work for someone else, you’ll always have your fair share of things that’ll go wrong. Companies like Uber will still be in the market for drivers, and you come and go as you please. 

Therefore, it’ll be a shame not to give them a try if you’re looking to earn extra cash. With this taken into consideration, it’s hard to think of a better part-time gig.