How Does the Lyft Rental Program Work?
The Lyft Rental Program works similarly to a traditional car rental. The Lyft car service has become increasing popular throughout bustling metros and small towns alike, so it makes sense that drivers would be searching for a way to rent a car through Lyft. While the program does not exactly provide a free car, it does allow drivers with vehicles that don’t meet the standard requirements to still work for Lyft. The following paragraphs will detail provide the details on the Lyft car program as well as the car financing aspects of the rental program. These will also be contrasted with a similar program offered by Lyft’s biggest competitor, Uber. Finally, other options will be covered, in case the car rental program at either company does not work for your needs.
Lyft Lease Car Program
To rent a car through Lyft, you must first get approved by whatever car rental agency is partnered with Lyft in your area. This will generally require a check with the DMV to make sure that you are a safe driver. It will also likely involve a credit check to make sure that you are qualified to make regular payments. On average, a rental will cost $219 dollars weekly. There are different car sizes available in different markets, however, which may affect total cost. If you provide 80 rides per week, this cost is reduced to $139. After 100 weekly rides, the cost is $94 dollars weekly. Finally, after 115 rides, the cost becomes a measly $29. Thus, if you are a high frequency driver, this is a great program to consider. There are also Lyft driver requirements that need to be met by drivers to maintain their eligibility for the Lyft rental program. Drivers must always accept at least 90% of rides. In addition, drivers will have a specific amount of peak driving hours each week, although this will vary based on the city. This is to help Lyft ensure reasonable wait times during the busiest times. For different regions there may be other and more specific guidelines and requirements, so be sure to check for your area.
Lyft Car Rental Requirements
To be a part of this program, the requirements are like those of being a part of Lyft with your own car. All applicants must have a valid driver’s license and be able to pass a background check. A DMV check must also be passed for drivers to qualify. To drive for Lyft regularly, drivers only need to be 21 years old. The requirements for the rental program, however, bring this age up to 25. Drivers renting a car don’t need to worry about the vehicle inspection portion of the Lyft application or the insurance part, as those are covered by the car rental program. In lieu of this, renters are mandated to bring the cars in for inspection at the rental agency that Lyft is partnered with every month. Because the cars are being provided, they will obviously meet the requirements set by the company. Finally, all drivers must have a mobile phone that can run the Lyft app.
How Does the Uber Rental Program Work?
The Uber car rental program works similarly to that of Lyft’s. It has three distinct options, which are simpler that Lyft’s but less flexible. Firstly, Uber offers a straight rental. This allows you to work with rental agencies in your area that are partnered with Uber to get a good weekly rate on a car. Some of your weekly profits will be taken out of your account to pay the fees. Secondly, Uber has a rent-to-buy rental program. This program works exactly how it sounds, with Uber acting as a middleman to connect potential car owners with those who wish to own their own vehicle. Finally, Uber has programs for people wishing to buy a car. By partnering with local dealerships, Uber can help provide special and favourable financing that is more affordable and fairer than customers could get otherwise.
If none of these options appeal to you, or you don’t qualify, consider buying a car instead. This doesn’t have to be a multi-year financial burden, however, as you can buy a car on craigslist for an affordable price. This is not a plan without risks, though, so there are some things to be aware of before purchasing a craigslist car. When buying a car online, always assume that the seller is a scammer. Even if they seem nice, having your guard up and ready will prevent you from being taken advantage of. Don’t give your address to anyone from the internet and do not meet them at their house. Try to arrange a meeting in the daytime and if possible, bring a friend. Consider asking why they are selling the car. In general, if they have a complex and intriguing story that invokes sympathy, they are trying to take advantage of you. Be especially sure to ask for maintenance records. Most private sellers will have at least some records saved, if they don’t, be aware. Finally, take a test drive. If the seller doesn’t want to allow it under any circumstances, walk away. Regardless of the car, always work hard to keep a clear head and not get excited about the decision. Hopefully, with the Lyft or Uber programs – or buying a used car, you can be on the road soon!