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Acquisition cost of the car is only a consideration if you bought a Prius solely to Uber. If you bought it because you want/need to own a vehicle, and you use i
by missedthecue 4y ago
Acquisition cost of the car is only a consideration if you bought a Prius solely to Uber. If you bought it because you want/need to own a vehicle, and you use it to Uber as well, the depreciation is the relevant factor.
- walrus01 4y agothe overall lifespan in miles or km of the car until it's used up and has almost no resale value is a consideration, if you put 200,000 km on a car doing city driving as an uber, that's consuming a considerable portion of the original total purchase price of the car. 11 cents a mile comes nowhere close to account for that, as reflected by the fact that the IRS mileage reimbursement rate for use of personal vehicles for business purposes is presently 58.5 cents per mile.
- missedthecue 4y agoIRS allotment is famously generous. Depreciation in the figure I provided accounts for the resale value dropping with mileage. If you drive 200,000km for Uber, you're making tens of thousands of dollars.