Why you should be a UberX driver in Singapore?

May 20, 15 Why you should be a UberX driver in Singapore?

Singapore has one of the highest cost of car ownership in the world. Yet in per capita terms, we also have one of the most dense car population. So what gives?

Most of the time, it is really about convenience and a form of luxury spending. But what if you could subsidise your cost of car ownership?

Uber faces regulationsUber has been in Singapore for quite a while now. For those who are unfamiliar, it is a mobile app based limousine service, where you can essentially book a car to ferry you to your destination. No messy call bookings, and since payment is handled by credit card, there’s also no messy payment transactions.

As a passenger, I have used uber almost 30 times. They have the UberExec service, which is essentially a high end luxury vehicle which uses cars such as Mercedes S class, E class, and similar. There’s a minium fare of $40 in this case. Then there’s the UberX service, which is a common sedan, such as Toyota Vios or similar. For UberX, there is a minimum fare of $8 in Singapore. There’s also the UberTaxi and SuperCar, which I shall not elaborate here.

In terms of fares, UberX is actually fairly similar to that of a taxi, minus the confusing surcharges that cabs have. UberX uses a base fare plus time charge plus distance charge. During driver shortage periods or passenger excess periods, they may have a surge pricing, which can range from 1.1x. to 3x. This basically means the fare is multiplied accordingly. Quite a smart concept I would say.

So why be a UberX driver? As a driver, you would need to register your car under a business or company. So straight up, this means your car can be expensed against any business revenue you might have. Uber basically takes 20% of any fare that you collect using their app. There’s no monthly charges or anything. So what this means is that it allows a person to register themselves as a UberX driver, but drive at their own convenience. For me, I only drive 2-3 hours a day. Before I go to work, and after I end work. The additional income covers a significant chunk of my car ownership cost.

For those keen, I have detailed how to be a UberX driver in Singapore. For those who are already keen and have immediate questions, feel free to contact me.


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