Did a return for an Uber driver and showed the client s/he was losing 25 cents for each mile she drove. No pay for the return leg was a contributing factor. Either you luck out and get another fare taking you back towards home after you do the drop off or you eat it. And good luck if that fare takes you even further away.
Three years of losses and you have a hobby, not a business.
I will also note that not many Uber drivers seem to be carrying the proper insurance. Good luck if your insurance company finds out you are driving for hire. Supposedly Uber is supposed to be working out some sort of hybrid coverage.
I also wonder what happens if you live close to a state border and your trips cross the line (npi).
This is what I've suspected, and have posted above: I don't think most Uber drivers are accounting for all of their costs.
Gas and maintenance can be tracked, but depreciation due to excessive mileage is harder. I'd make it simple and just reduce the payment from Uber by the number of miles driven * 54 cents (the IRS mileage rate for 2016).
Supposedly Uber is supposed to be working out some sort of hybrid coverage.
Uber has an insurance policy that covers the driver while transporting a passenger. I don't know all of the details, like coverage while enroute to pick up a passenger.
Well then....that's the first driver mistake.
When you drop off a passenger....just wait nearby....the UBER app will search a radius about 5 to 10 miles out for another ride.
Most likely get another ride nearby...especially in a city