I list two cars on RideshareRenter — a 2021 Toyota Camry and a 2022 Honda Odyssey. Combined, they grossed about $43,000 last year. Net was lower, obviously. The single biggest line item that ate into that net wasn't insurance, wasn't repairs, wasn't the platform fee — it was depreciation.
Most articles handwave depreciation with a vague "your car loses value, factor that in." That's useless. So here are the actual numbers from my own listings, plus what I've heard from a half-dozen other RideshareRenter owners I've swapped notes with at meet-ups.
Depreciation is the gap between what your car is worth today and what it's worth in 12 months after a renter has used it. A normal commuter sedan loses about 8-12% per year for the first 5 years. A car driven 35,000-45,000 miles a year for rideshare loses 18-25% per year — sometimes more.
Three things drive that extra hit:
Mileage. A typical American car gets 12,000-14,000 miles a year. Rideshare rentals do 30,000-50,000. Every additional mile shaves Kelley Blue Book trade-in value.
Wear on interior. 1,000+ different butts in the back seat over a year. Stains, scuffs, smells, the occasional kid who didn't make it to the door before throwing up. The interior ages faster than a personal car.
Title history. Some buyers will look at a CarFax showing 95,000 miles in 24 months and assume rideshare use. That assumption alone shaves another 5-10% off resale.
I bought the 2021 Camry SE in March 2024 for $24,800 from a dealer with 28,000 miles on it. Listed it on RideshareRenter in April 2024 at $295/week.
By April 2025, after 12 months on the platform, the car had:
KBB trade-in value April 2025: $13,900. So the depreciation hit was $24,800 minus $13,900 = $10,900 in 12 months.
Gross rental income for the year: $14,860 (53 weeks at average $280/week after platform fee).
Less depreciation, less maintenance ($760), less insurance gap ($420 — the listed coverage doesn't fully replace my personal policy), less detail and small repairs ($340) = roughly $2,440 net for the year on the Camry.
Yeah. Read that again. The Camry was nearly a wash on a pure cash-on-cash basis after depreciation.
Two reasons. First, that $2,440 doesn't include the tax depreciation deduction — I claim depreciation on my Schedule C as a business expense, which lowered my federal tax bill by an estimated $2,200 last year. Talk to a CPA, but for me the after-tax picture looks more like $4,600 in actual benefit.
Second, the Odyssey is a different story.
Bought the 2022 Honda Odyssey EX-L in May 2024 for $34,200 with 22,000 miles. Listed on RideshareRenter at $415/week (UberXL eligible).
12 months later:
KBB trade-in May 2025: $24,100. Depreciation: $10,100.
Gross rental income: $20,575 (50 weeks at average $411 after fee).
Net after depreciation, maintenance ($1,000), insurance gap ($420), small repairs and detail ($220): $8,835. After the tax deduction shield, closer to $11,000.
The Odyssey works because UberXL rentals command a higher weekly rate ($380-$450) while losing depreciation at roughly the same rate as a Camry. Rate goes up, depreciation stays similar, net widens.
After tracking my own numbers and comparing notes with eight other RideshareRenter owners, here's the rough ranking by annual net (after depreciation, on a 1-year hold):
| Vehicle | Avg Weekly Rate | Annual Net (Year 1) | Best For |
|---|---|---|---|
| Honda Odyssey EX-L | $405-$455 | $8,000-$11,500 | UberXL, airport markets |
| Toyota Sienna | $395-$450 | $7,500-$10,500 | UberXL, family riders |
| Toyota Prius / RAV4 Hybrid | $235-$285 | $3,800-$6,200 | Eco-conscious drivers, EV-curious |
| Tesla Model 3 / Y | $420-$525 | $5,500-$9,000 | Premier-tier markets |
| Toyota Camry SE | $265-$305 | $2,000-$4,500 | Steady demand, low risk |
| Honda Accord Sport | $275-$315 | $2,500-$4,800 | Comfort-eligible, reliable |
| Hyundai Sonata | $235-$280 | $1,200-$3,200 | Lower entry cost, lower margin |
Caveats: these are 1-year holds with new-to-3-year-old vehicles. Hold the same car for a second or third year and the depreciation curve flattens. A 2021 Camry that's already done 90,000 miles loses far less per mile in years 2-3 than it did in year 1, because most of the steep depreciation has already happened. Many owners I know clear $5,000+ on a Camry in years 2 and 3.
Mistake 1: Comparing rideshare rental income to ownership cost, not to the next-best alternative. Your car was depreciating either way. The real question is: was it depreciating less when sitting in your driveway? Yes, but not by as much as you think — the difference is roughly the cost of the extra miles.
Mistake 2: Forgetting the tax shield. Section 179 and bonus depreciation rules let you accelerate depreciation deductions on a vehicle used 50%+ for business. For a $30,000 car used 100% for rental, that's potentially a five-figure deduction in year one. Get a tax pro who knows rideshare. Don't DIY this part.
Mistake 3: Buying the wrong car for the platform. Premium luxury vehicles depreciate hardest in the first 24 months. A $55,000 BMW 5 Series can lose $18,000 in year one as a rideshare rental. The math almost never works on European luxury. Stick with Toyota, Honda, Hyundai, Kia, and Tesla — high reliability, slower depreciation, easier to find renters.
I've cut my effective depreciation cost by about 18% over the first year using these tactics:
For most cars, expect 18-25% loss in year one if the renter does 30,000-45,000 miles. A higher-mileage rental (50,000+) will be closer to 25-30%. A lower-mileage rental (under 25,000) is usually 12-18%.
Yes. The IRS allows depreciation deductions on vehicles used for business — including renting your car out. Section 179 and bonus depreciation can accelerate the deduction in year one. Talk to a CPA who handles small-business or rideshare clients before filing.
Probably not. New cars lose 18-22% of their value in year one even sitting in a garage. Add 30,000+ rideshare miles and you can lose $7,000-$12,000 in a single year. Buy used (2-3 years old, 25,000-35,000 miles) and your depreciation curve is much flatter.
The platform's coverage handles renter-caused damage during the rental period (subject to deductible). It does not "make you whole" on accelerated depreciation from rideshare miles — that's an inherent cost of the business and is what your weekly rental income is meant to compensate for.
Roughly $230/week in net rent (after platform fee) for a 1-3 year hold pays for the depreciation, maintenance, and insurance gap on a typical Camry. Anything above that is real profit. Most listings clear that hurdle in healthy markets.
Per car, yes — they earn $400+ per week at UberXL rates and depreciate at a similar dollar amount to a Camry. The catch: there are fewer XL drivers than UberX drivers, so an XL car can sit unrented in slow weeks. In a healthy market, an Odyssey or Sienna can clear $8,000-$11,000 net in year one.
If you're hoping to clear $1,000+ a month in pure profit on a single Camry, you'll be disappointed. If you're treating it as a business with depreciation, taxes, and a 2-3 year hold horizon, the numbers can work — especially on UberXL minivans, hybrids, and Premier-tier vehicles in active markets.
Run the math on YOUR actual car using KBB or a similar tool. Estimate 35,000-45,000 miles for the renter's year. Subtract that future trade-in value from today's market value. Compare against a year of weekly RideshareRenter income. If the gap is big enough to justify the work, list it.
Vehicle owners: List your 2017+ car on RideshareRenter in about 20 minutes. Owners set their own weekly rate and approve every renter — most start earning within 7-10 days of listing.
Drivers: Need a car for Uber, Lyft, or both? Browse rentals on RideshareRenter. No hard credit check, weekly billing, insurance included while online.
Comments