You’re basically taking out a payday loan on your car. Keep in mind Uber doesn’t assist w/ the maintenance, gas and wear and tear on your vehicle.
I've never done it myself but, I do have some friends who have done it. From what I've noticed in their exploits, it seems like this model works really really well if you get a car specifically to do Uber. For example I have a co-worker, who has a GMC Sierra that he does Uber with. Obviously a stupid decision because it's fuel efficiency is garbage and his maintenance costs will kill him.
Conversely I have a friend from high school who bought a small, fuel efficient Honda Civic that's a hybrid from 2008. He spent less than 5K on that car, and he broke even with Uber less than 3 months. Everything from that point onwards, was pure profit for him. His AC failed, but he spent 200 on mechanic fees and 50 pulling an air compressor from a junk yard civic and he has had no maintenance issues from that point onwards. Rather than a payday loan, breh received a blank check from Uber LLC
In the second case Uber is like a blank check until the cheap vehicle fails. At that point, they get another cheap vehicle and continue the process onwards.
So I do think it's possible, to do Uber or Lyft or doordash , wisely with a profit. But you can't be using your daily driver to do it, because the same characteristics that make an Uber car a good Uber car, make that same car a horrible daily driver. You ideally don't want anything spacious, expensive, high depreciation, comfortable, etc as your Uber car.