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When talking to lyft drivers here in New York, they all drive for Uber exactly as long as it takes to pay off their car loan for that day and then switch to Lyf
by CoolGuySteve 9y ago
When talking to lyft drivers here in New York, they all drive for Uber exactly as long as it takes to pay off their car loan for that day and then switch to Lyft because it pays more.
So I wouldn't be surprised if Uber is a lemon market when it comes to drivers.
- SerLava 9y agoI'm confused by that. Why do they drive for Uber for part of the day if Lyft pays more?
- duggan 9y agoSome sort of lease arrangement stipulation on the vehicle with Uber for people who didn’t own / couldn’t afford a car?
- Roedou 9y agoI'm just inferring, but it sounds like it's possible to get a car loan/lease through Uber. It might be more tax efficient to have Uber take repayments directly from your earnings? So if first $X earned on Uber that day go to your repayments, it's worth earning $X on Uber to pay off the car, and then drive on whatever app pays the most.
- metaphorm 9y agomost drivers in NY drive for multiple companies. Uber, Lyft, and Gett are the most common.