How Much Can You Make Driving A Tesla With Uber? We Did the Math!

How Much Can You Make Driving A Tesla With Uber? We Did the Math!
Author: Nzoputa Erik
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Driving a Tesla while making money with Uber seems like an exciting venture. But there’s more to the story than meets the eye.

In this article, we’ll shine a light on some key details, including:

  • The potential earnings from driving a Tesla with Uber,
  • The various costs associated with owning or renting a Tesla,

Simply put, after reading this piece, you’ll clearly understand what you can earn as a Tesla driver with Uber. You’ll also grasp the costs and learn valuable strategies to increase your income.

Let’s go!

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Key Takeaway

  • Driving a Tesla for Uber can earn up to $60 per hour, with factors such as location and driving hours impacting your earnings.
  • Considering costs, such as purchase or lease payments, maintenance, and charging, is essential when calculating net earnings from driving a Tesla with Uber.
  • Maximising earnings involves smart strategies like working during peak hours, accepting most ride requests, and leveraging Uber’s Green Future program.
  • Managing costs effectively involves regular vehicle maintenance, economical charging solutions, and full use of tax deductions.
  • The key to success in this venture lies in balancing potential earnings with costs, strategic driving and effective cost management.

The Potential Earnings

Driving a Tesla for Uber can earn you up to $60 per hour. However, it’s important to note that this figure can fluctuate based on various factors.

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Location

Your geographical location plays a pivotal role in your potential earnings. If you’re operating in bustling city centres, you’ll likely have higher ride demands and, subsequently, a higher income.

But in quieter, suburban areas where to ride requests may be less frequent, earnings could be lower.

Time Investment And Earnings

The amount of time you dedicate to Uber driving also matters. Some drivers have even successfully earned up to $33 per hour.

There’s even a case of a driver who pulled in over $2500 per week. The more hours you put in, the higher your potential income.

Uber’s Green Future Program

Uber’s Green Future program offers an additional perk for driving an electric vehicle (EV) like a Tesla. Uber provides an extra $1 per ride for EV drivers, which might seem minor but can accumulate to $4,000 annually.

Cost Considerations

To truly understand your potential earnings, it’s essential to account for the costs of owning or renting a Tesla. 

Yes, Tesla cars are sleek and efficient, but they have a high price tag. The purchase price alone is notably higher than that of a typical car. You should also factor the monthly lease payments into your calculation if you’re leasing.

Maintenance And Charging Costs

Maintenance costs for a Tesla can also eat into your Uber earnings. However, Tesla vehicles typically have lower maintenance costs than traditional gasoline cars because electric vehicles have fewer moving parts. 

Moreover, EVs eliminate fuel costs, but there’s still the expense of charging. If you have a home charging setup, the cost may not be as high as regularly using commercial charging stations.

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Impact Of Costs On Earnings

It’s crucial to balance these costs against your potential earnings. While Uber driving can generate substantial income, high costs can significantly reduce your net earnings.

It’s all about finding the balance and determining if the potential earnings outweigh the costs.

2022 Federal Tax Reimbursement

One silver lining for drivers is the 2022 Federal Tax reimbursement for cars. Drivers can deduct 58.5 cents per mile, regardless of their actual cost.

This tax break can help offset some of the costs of owning or renting a Tesla, making it a more viable option.

Practical Advice And Tips

Here are tangible tips you need to be aware of if you are driving a Tesla for Uber.

Drive Smart

One of the most effective ways to maximise earnings is by driving smart. This means working during peak hours and in busy areas.

Successful drivers also suggest accepting nearly every ride request, as more rides mean more income.

Take Care Of Your Tesla

To control costs, focus on maintaining your Tesla. Regular check-ups can prevent expensive repairs.

As for charging, consider setting up a home charger, which can be more economical than frequent commercial charging.

Leveraging Uber’s Green Future And Tax Reimbursements

Don’t forget the extra $1 per ride offered by Uber’s Green Future program. This adds up!

Similarly, make sure to take full advantage of the Federal Tax reimbursement. Log your miles and claim your deductions.

Cutting Costs

Every dollar saved is a dollar earned. Consider energy-efficient driving techniques to prolong your Tesla’s battery life. Also, use Tesla’s free Supercharger network whenever possible.

Conclusion

Driving a Tesla with Uber is more than just a job; it’s an adventure. As we’ve shown, potential earnings can be attractive, especially in the right places and times. 

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Yet, remember to balance this with the cost side of the equation. Teslas aren’t cheap, but the lower maintenance costs, fuel savings, and tax benefits can help.

Don’t overlook the power of strategy, either. Smart driving practices, proper car care, and taking full advantage of Uber’s Green Future program can boost your income.

Ultimately, success comes from finding the right balance and making smart decisions. And who knows? With a Tesla and Uber, you might find that balance and start a rewarding journey. 

Happy driving!

Frequently Asked Questions

How much can I earn driving a Tesla for Uber?

You can earn up to $60 per hour driving a Tesla for Uber. However, this depends on your location and the hours you drive. Some drivers have reported earnings of over $2500 per week.

What costs should I consider when driving a Tesla for Uber?

The costs include the purchase or lease price of the Tesla, maintenance costs, and charging costs. While Teslas have lower maintenance costs than traditional cars, their purchase price is higher.

How can I maximise my earnings as a Tesla driver with Uber?

Maximising earnings involves working during peak hours and in busy areas, accepting nearly every ride request, and leveraging programs like Uber’s Green Future program, which gives EV drivers an extra $1 per ride.

How can I manage the costs associated with owning a Tesla?

Regular vehicle maintenance can help prevent costly repairs down the line. You can also save on charging costs by setting up a home charger or using Tesla’s free Supercharger network whenever possible.

How does the Federal Tax reimbursement benefit Tesla drivers with Uber?

The Federal Tax reimbursement allows drivers to deduct 58.5 cents per mile regardless of their actual costs. This helps offset some of the costs of owning or renting a Tesla.

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