With the current gig economy, it seems everyone is jumping on the option to become a private hire vehicle driver. But before you jump onto the opportunity to be one yourself, going out and getting that brand new car, here are some pros and cons from us to help you better make that decision
- All the budget friendly options to get you started
Whether it is Grab, Go-Jek, or any other private hire vehicle company, the key question any aspiring PHV driver might be asking is, “HOW?” (…much will it cost me?). Well, we’ve done some of the math for you!
As an aspiring PHV driver, there are typically two main options for you: one is to rent a car, the other is to own a car, both of which allows you to work. Depending on which PHV company you choose to go with and where you purchase your car from, renting might cost you somewhere between $80 – $100 per day, whereas owning a car will cost you somewhere between $30 – $50, not including other daily car expenses. However, with the higher price of renting, it does also mean car maintenance is taken care of for you cash out today .
Cons: It is definitely a task to choose with so many options available, and it’s hard to know which choice is the right one! Hopefully the next couple of points will ease the stress of that a little.
- BYOB – Be Your Own Boss!That’s right. Being a private hire vehicle driver means no longer waking up and dragging yourself to an office to face a boss everyday. You get to choose the hours you work. Feeling sick? Take a off day without ever having to ask anyone! Feeling up for driving 12 hours today and only 2 tomorrow? You make the rules.
- Flexibility and downtimeThis is akin to the first point about being your own boss. But beyond just being your own boss, it’s being allowed to have some downtime between rides. You can turn down rides if you’re feeling up for an afternoon nap. Or perhaps it’s off peak hour and you’d like to read a book instead.Con: Getting distractedToo much downtime can lead to getting carried away. When that game of Candy Crush or PUBG gets too intense, you don’t really think about how long it’s been since the last trip.
- Become a people personDepending on who you are, this could either be a pro or a con. But we’d like to see it as a pro. When you’re a private vehicle hire driver, the chances are that you’re going to be meeting new people on a day-to-day basis. If you’re a people person, it means a daily chance to make new friends. And if you’re more of an introvert, well, it could be a chance for you to practice being more social!Con: Bad ratings are a bummer.While you get to meet people almost everyday, some of them aren’t the best. And while there will be a ton that will leave you excellent ratings, there will be the occasional not-so-great review left by some. But fret not; you’re only deactivated when your rating falls below a certain number!
- Earn twice as much for the same workYes; you earn twice as much, or even more during peak hours because of surge charges. As a passenger, it is not the best news. However, as a driver, you get to do half the work for twice the amount.
Con: It’s very busy during the surge periods
Only drawback? Every car will be competing to get passengers in your area. But luckily, a surge also means that there will be an abundance of passengers too.
- Discover new places
Singapore is a small place, and it might feel like you’ve seen everything and you’ve been to almost every place here. But being a private hire vehicle driver means discovering interesting corners of the island you may have never came across before! Don’t forget about all the people you will meet and talk to that will give you insights to the many hidden gems around their area too!
7. Driver perks
When you’re a private hire vehicle driver, you’re essentially your own boss, and running your own business. That also means using your personal money for stuff like your phone, your car, and more, in order to fuel that business.
With all that considered, there are still perks to being a private hire vehicle driver. Companies like Grab and Go-Jek have partnered up with different services to provide a number of discounts for their drivers. Some of these discounts and perks go beyond driver needs like car maintenance to include retail, wellness, and lifestyle spending too! Have a look for yourself:
In conclusion, if you’re considering becoming a private hire vehicle driver, you definitely have to take the good with the bad. For example, getting a rating from very subjective human beings might be something a lot of people disagree with. But it works both ways doesn’t it. A bad passenger has the potential to be removed from an app as well, so everyone is accountable for their actions, driver or not.
That being said, no job is perfect. The decision to becoming a private hire vehicle driver is only yours to make.
We’re only here to help you better make that decision!
To help you along with your journey to becoming a private hire vehicle driver, Edmund Motor offers the best car deals in Singapore, from the largest car importer in Singapore. Specifically catered for PHV loans, we have a variety of cars ranging from Japanese Hybrids to Continental. Chat with one of our reliable car dealers today to find out more: