5 Ways To Save Money As An Uber Driver

Like the nearest other Uber driver, you work hard to support your family and make a living. But at the end of the day, you feel that various car expenses and taxes eat up most of your earnings.

A familiar scenario?

Then why not enlist the help of intelligent technology such as an OBD2 scanner? Especially when it doesn’t require any technical know-how.

Paired with a few uncomplicated money-saving strategies, it will make your car less prone to waste fuel.

As a result, your car will perform at its best, and you’re bound to reduce expenses and make more money.

Waste no more time!

1. Get An OBD2 Scanner to Monitor Your Fuel Usage

OBD stands for On-Board Diagnostics. Wondering what an OBD2 scanner is and what it does?

In short, it’s a handy device which performs your car diagnostic tests. Also, it converts complicated error codes into easy-to-understand issues expressed in plain English. Then, it sends the alerts to your mobile phone.

So, it enables you to check your car’s health effortlessly and to figure out what exactly needs to be fixed.

OBD/OBDII actually reveals all the secrets hidden under your dashboard.

You’ll find GOFAR among the best OBD2 apps. GOFAR is an OBD2 scanner that helps the Uber driver be more aware of his/her fuel economy and driving habits. This device works by monitoring your driving style and providing real-time feedback on the go.

That way the GOFAR OBD2 app helps you adapt your driving behaviour and save fuel and money you’d otherwise burn.

For example, it’s signalising whether you’re heavy on the brakes and accelerator (the Ray light turns red). But, if you’re driving efficiently, the Ray light is blue. As simple as that!

GOFAR OBD2 software contains precision sensors. They constantly calculate your car’s sweet spot to help you minimise fuel consumption and get the most out of your car.

This intelligent and inexpensive device, which is super simple to set up, consists of the following components:

• the OBD Dongle you plug into the OBD port under your car dashboard,
• the hardware Ray you place on the dashboard, and
• the free OBD2 app you download to your mobile phone.

Take a closer look at how to install it and how it works:

No idea whether your car is OBD compliant? No worries!

GOFAR works in any petrol, diesel or hybrid vehicle since 2007 (and many older). Still not sure? You can check your car’s compatibility here anytime.

Want to know the best part? Using GOFAR requires absolutely NO technical know-how.

Sounds crazy? Test it yourself if you don’t believe it.

2. Enlist an Accountant Who Specialises in an Uber Driver

The rules for independent contractors, i.e., self-employed taxpayers, can be complicated.

Since you’re considered to be self-employed as an Uber driver, your taxes can reach 30% – 40% of your total income.

‘A driver earning $50,000 for the year will need to save around $9000 for tax if this is their only income. However, a driver who also works a day job earning, say, $70,000 from wages, will need to save around $19,000 to cover the tax on the $50,000 earned through Uber.’

Using your car for both professional and personal transportation? Then you need to know that you can deduct only the expenses related to the business use.

For instance, your fuel or car maintenance costs are deductible.

Also, you can deduct insurance, registration fees, the cost of tolls and parking fees and many other work-related expenses.

(By the way, GOFAR OBD2 scanner also tracks your mileage, business trip expenses and more to help you with tax and company claims.)

Take a peek at some tax and legal tips for the Uber driver to better understand how to navigate this challenging legal maze.

Keeping impeccable and thorough records is a prerequisite for tax deductions, though.

Of course, you can do it with the help of a detailed spreadsheet. But that can get a bit overwhelming.

Thankfully, it’s the 21st century. There are plenty of affordable accounting software programmes you can use to save yourself some time and reduce accounting complexity.

However, these tools are quite tricky to set up and use if you’re not trained.

In the end, consulting an accountant qualified for Uber tax returns and GST turns out to be a wise move that can save you a lot of hassle and money in the long run.

Some Uber and Rideshare tax specialists – like this one in Australia – even offer a free Uber Tax Info Pack.

These experts can get you more back on your expenses as they know all the ins and outs of the tax system specific to the Uber driver.

Because #tax time is one of those times you wish you had an #expert… (We’ve got your back!) https://t.co/rPXLUjKTiq via @BuzzFeed pic.twitter.com/UHxRbrL4gX

— TurboTax (@turbotax) April 6, 2018

After all, you work hard, so why wouldn’t you keep your money in your pocket by increasing the chances to get the maximum amount of deductions you deserve?

Every dollar counts, doesn’t it? Then, make sure you know how to legally keep your deductions as low as possible.

3. Service Your Car on a Regular Basis

Every driver knows that neglecting your car and avoiding to maintain it regularly leads to increased costs in the future. Not to mention the safety of the passengers!

Still, alarming results of the research conducted by Kwik Fit, the UK’s leading automotive servicing and repair company, revealed that:

‘One in every five car owners have ignored the maintenance of their cars.

Almost half (45%) of those neglecting their car’s servicing or maintenance said that they would be spending more as a result of the delays, with the additional bill for drivers totalling £153.9 million.’

Oil leaks which could damage the oxygen sensors, clogged fuel and air filters, corroded battery cables, and not using the right oil are a few contributing factors in your excessive fuel consumption.

Here are eight more expert vehicle maintenance tips to help prevent costly repairs.

Now you may think you’re maintaining your car properly and regularly. But are you 100% certain? Perhaps you’re following a normal maintenance schedule when a more intense one would be a better choice?

So, to avoid burning money, closely monitor your car’s health and deal with the problems before they become huge and expensive. Prevention is better (and cheaper) than a cure, right?

Because who doesn’t like saving $$ pic.twitter.com/3I6rL3Iznv

— Hero Car Care (@HeroCarCare) April 26, 2018

4. Drive With Properly Inflated Tyres

Driving with improperly inflated tyres affects your car performance, handling and fuel consumption.

Under-inflated tyres lead to increasing friction against the ground. Not only could the tyres easily overheat and wear out more quickly, this can make your car use more fuel.

On the flip side, over-inflated tyres can adversely affect the car’s traction and stopping distance.

Not only will you reduce costs, but you’ll be safer on the road if you take good care of the tyres.

Here’s how to check your tyre pressure and keep it right.

5. Reduce Idling Time

Did we mention that excessive idling time increases fuel consumption?

So next time when you realise you may have to spend more than a couple of minutes waiting for your rider, it’s smarter to switch off the car engine.

That way you’ll kill two birds with one stone – save fuel and reduce CO2 emissions.

Similarly, the usual Uber driver tends to drive around and chase business, which also increases costs and harms the environment. Don’t you agree?

No matter how simple all these money-saving practices may seem, they will unquestionably help you handle your finances competently.

Ready to apply them?

Whip Your Finances Into Shape

As an Uber driver, you can save a lot of time, money and frustration by:

• conserving fuel with the help of an OBD2 scanner,
• keeping neat business cost records with the same device, and engaging a qualified accountant to maximise your Uber tax returns,
• taking good care of your vehicle to prevent future costly repairs and make sure it runs more efficiently,
• making sure the pressure in your tyres is just right, and
• avoiding unnecessary idling time.

GOFAR OBD2 scanner, which is at the same time a logbook app and a car diagnostic app pays for itself in months. If your car is OBD compliant, don’t hesitate to check the pricing and order this affordable gadget now.

With 100% money-back guarantee and free returns within 60 days, there’s absolutely nothing to lose, right?

Besides, taking these tips paired with the handy device will be beneficial both for your car and your wallet.