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Old 11-28-2017, 09:18 PM
 
20,844 posts, read 39,064,756 times
Reputation: 19080

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Quote:
Originally Posted by bostonguy1960 View Post
But it seems so fun, lucrative and easy in the recruitment ads! Easy money!? ...
Sounds like the old Microsoft Demo Disk "paradise" .... if only you buy our product.

Uber and Lyft will ratchet up their take of the deals until driving for them is just as big a vow of poverty as it is to drive for a regular taxi cab outfit, i.e., indentured servants.
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Old 11-29-2017, 08:53 AM
 
Location: Clemson, SC by way of Tyler,TX
4,780 posts, read 2,930,307 times
Reputation: 3335
Quote:
Originally Posted by bostonguy1960 View Post
But it seems so fun, lucrative and easy in the recruitment ads! Easy money!?

I didn't make that much while renting a car for Lyft in Boston but others claim good earnings here.
Right. There are too many drivers as is. Money is hit or miss, which is bad if you drive your own car.
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Old 11-29-2017, 03:13 PM
 
170 posts, read 182,005 times
Reputation: 107
Had a buddy of mine drive for Lyft full time in Denver using his own car for a couple of years and based on what he told me after deducting the cost of gas and their take it panned out to around $15/hr on average which is hardly good IMHO especially when you have a lot of wear and tear on your car.
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Old 04-20-2018, 10:23 PM
 
3,267 posts, read 5,258,682 times
Reputation: 1479
Quote:
Originally Posted by Quietude View Post
So my daughter has discovered that Lyft has a car-rental program and she's ape to go for it. My general suspicion is that it's a lot of cost and liability, suitable only for a narrow range of people who can drive a lot of hours in a day and don't have any other way to get a suitable gig/personal car.

In broad strokes, how good a deal is the Lyft program, going through the GM rentals (she's just under 25), and how much driving would be needed to hit the break-even point? How much demand is there centered on Aurora, just north of Quincy Reservoir?

Between school (dawn to 1:00 pm each weekday) and an okay retail job, she doesn't have all that much driving time I'd be comfortable with.

Some good answers by the time she gets home this afternoon would be helpful.
I have been driving for Lyft using their Express Drive rental car program as a side hustle. Here are the pros and cons.

The pros:
You don't have to put any wear and tear on your car for a small $250 deposit.

$250 deposit is given back when your return the rental undamaged.

You can use the rental for personal usage and put unlimited miles on it.

If you give a minimum of 20 rides a week, you can keep the rental weekly for up to a maximum of 4 weeks.

After 4 weeks, you MUST return the rental to the rental company and they will have the car checked for maintenance. Lyft pays for all maintenance and will swap out your rental for an available rental if your rental needs any major maintenance.

Lyft does offset the weekly rental fee of $225 including taxes by rewarding drivers who give a minimum of 75, 95, or a maximum 115 rides.

For example: give 75 (including giving at least 25 peak rides during Monday - Fridays 7am-9am, 3pm and 5pm, Friday and Saturday nights from 9 pm til 2 am) Lyft takes $80 off of the $225.
Give 95 rides (including a minimum 25 peak rides to a max of 30 peak rides), Lyft will take off $120, and give 115 rides following the same goals (but give 35 peak rides and meeting the other minimum goals for giving 75 or 95 rides), Lyft takes off $200. So, you could only pay $25 out of pocket each week.

The Cons:
A driver could pay the full $225 weekly rental cost if the driver doesn't meet the minimum 75 rides.
Trying to give minimum rides to reach the $80 rental bonus forces drivers to drive early am and work late Friday and Saturday. Basically, unless the driver is in a really busy city, the driver will be working full-time to reach at least the minimum driving goal that takes $80 off the rental.

IF YOU ARE IN AN ACCIDENT, THERE IS A $2,500 DEDUCTIBLE, NO MATTER WHO IS AT FAULT.

Your account will be placed on hold. You will not be able to drive until Lyft's Trust and Safety team investigates the matter. This could take up to two weeks before Lyft takes off the hold and you can start back driving. This can be very frustrating if Lyft has become your main source of income.

This is a big con:
YOU ARE NOT COVERED BY YOUR PERSONAL INSURANCE COMPANY NOR BY LYFT'S INSURANCE if you are in an accident IN THE RENTAL CAR while not in Lyft's driver mode.
I just learned this the hard way. I will explain.

I was rear ended by a driver while I was driving without the Lyft driver's app on. We exchanged documents, I contact Lyft, and the rental company about the accident. When I contacted my insurance carrier, they told me emphatically that because I was driving a rental not because my personal car was in the shop or because it was in the shop for repairs being made on it from an accident, me driving a rental for business/work for rideshare company means that MY INSURANCE COMPANY DOES NOT COVER THE VEHICLE AT ALL. Thank God the person who hit me admitted being at fault.

So to end my wordiness of this matter. IF YOU ARE A RIDE SHARE DRIVER, AND YOU ARE RENTING A CAR FOR RIDESHARING, UNLESS YOU HAVE PURCHASED INSURANCE FROM THE RENTAL COMPANY THAT WOULD COVER YOU WHILE YOU ARE DRIVING IN THE APP MODE OR NOT IN THE DRIVER APP MODE, YOU WILL NOT HAVE ANY INSURANCE COVERAGE FROM YOUR PERSONAL INSURANCE CARRIER.

So if your rental is parked on the street, and someone totals it while you are not in Driver App mode, you are responsible for that rental since your personal insurance company doesn't cover rentals when a customer is using it for ride sharing.

Last edited by antredd; 04-20-2018 at 10:44 PM..
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Old 04-21-2018, 11:06 AM
 
Location: Denver, CO
946 posts, read 1,254,541 times
Reputation: 1036
Get her a bicycle or moped.
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Old 04-21-2018, 11:37 AM
 
Location: Aurora Denveralis
8,139 posts, read 2,839,657 times
Reputation: 12172
Thanks. For me at least, this was settled months ago. (She's got a car and a better job.)
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Old 04-22-2018, 09:53 PM
 
3,267 posts, read 5,258,682 times
Reputation: 1479
Quote:
Originally Posted by Quietude View Post
Thanks. For me at least, this was settled months ago. (She's got a car and a better job.)

That's great.
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