I have personally gone down to UBER office at Sin Ming Lane. There r a lot of ppl there. This is what I found out:
1) For owned car drivers, U must convert yr private car insur to commercial one. Currently mine 30% NCD, $560. They quote me 710$ to convert, but ncd will drop to 20%. If wana drive uber & Grab, price is 880$. Some of the bros here have asked when car converted to commercial one, will it affect yr parf value? I dono too. If wana convert back to private insur again, have to stick with the insur co tat u convert. So the top up is about $150.
2) Need to have owned company. Pay $115. They say they will reimburse back to me.
3) Go down to LTA to link yr car to company by filling up a form. How much dono.
4) New drivers are given 5stars at 1st. Must maintain 4.2 or 4.4stars. So if yr riders niao type give 4 and below, they say u will receive a warning message. After sometime may get delisted. Even if did not get delisted, riders see yr ratings low, do u think they wan yr service?
5) To get the perks and 5000$ per month, u basically have to work for long hrs. No. U must have many successful bookings. So even if u prep to work full time 24/7, u may nt necessary get bookings. U will compete wif other drivers s well. 1 thing I found out is, even if a rider is at change u r at jurong, u will nt receive the request on yr app. It is within a certain area coverage. Nearby drivers only will receive.
7) Some bros here have mentioned that uber drivers income is taxable too. So wat u earn net in yr pocket, will be taxable.
In conclusion:
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So for owned car drivers, I think most of us have our own job. To invest around $200-300, and with all this troublesome paperwork to convert tis tat, uncertainties in guarantee number of customers in the market, I don think I wana giv it a try. There have been bad compaints about the surcharge during peak hrs, which I finf is also ridiculous. Can go s high s 100$??? I don wana risk to convert my private car to commercial one and affect my parf, if there is. Even if wana sell, though my car only left 1 year, I don wana try.
For drivers intending to rent car for uber driving, pls think v v v carefully. Rental is def 1000$+ per mth. BTW, can car drive long hrs? If yr car break down, can ask for free replacement ? Similar to present one? Better ask more in details. Run petrol and diesel def nt same. Price too.
I hope my comments did not offend anyone. Just my own fair share of contribution to this forum.