Both Uber and Lyft have a rideshare rental program. This program allows you to rent an approved vehicle from specific partners to operate as one of companies’ drivers.
You will have to pay, or have pay deducted, to use a rental car. The cost varies by area, type of car, and the length of the rental. Rideshare rental vehicles are available by the hour and/or weekly depending on the company.
The program also requires a refundable security deposit to cover accidents and damage that may occur. If an adverse scenario occurs, you could lose your security deposit.
Drivers have unlimited miles while working for the rideshare program. However, Lyft drivers will need to choose the number of personal miles they will need during the rental period.
If you are debating whether a rental car is the right move for you, consider the following questions:
- How much do you expect to work/earn during the rental period?
- How much does the rental cost?
- Do you have the means to put down a security deposit?
Compare your potential income to the actual cost of the rental. A rental might not be the best money-making option if you will not make enough to cover its cost. This might happen, for example, if you rent the vehicle for a week but will only work for two days.
Rideshare drivers also work for tips, so how you treat your passengers can affect your income. Check out tips on how to make the most money as a rideshare driver on the next slide.