Costs of operating a vehicle

Remember: Costs like gas, vehicle depreciation and maintenance come out of the driver’s pocket. However, if you’re driving an older car, depreciation may be less of an issue. Still, rideshare services want recent model cars, so depending on your state, they won’t allow a vehicle that’s too old. Also, Lyft and Uber have fuel discount programs to drivers who meet certain criteria.
The Internal Revenue Service also lets drivers deduct 54 cents per mile driven for business in 2016, down from 57.5 cents in 2015, which can help offset the taxable income created by driving for a rideshare app. The actual operating costs of your vehicle may be higher or lower depending on the age of your car and whether you drive a hybrid, a gas guzzler or something in between.
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