We know that this fact is very clear and common to you that car rental options are very expensive. But, it becomes an important source when you don’t have the money to buy a vehicle or don’t want to lease one. Also, in comparison to all the process of buying, car rental is highly versatile and can help you gain many benefits. In accordance to it, there’s no trouble while down payment or credit also.

Driving thoroughly while you’ve the car rental program and accordingly, utilizing every feature that the program offers, leads you to a series of advantages that would help you in future.

SHOULD YOU RENT A CAR FOR UBER ?

If you wonder as to why renting is so beneficial, then you should definitely read the following:

  • It provides you a chance to determine whether this kind of work is apt for you or not. Thereby saving you from the horror as well as the loss of being obliged to a long term loan or lease.
  • It’s also a viable option in situations where your rideshare car breaks down and you temporarily become unemployed till the car is up in the repair shop.
  • It gives temporary employment to the drivers such as students and those who are unable to drive due to any reasons.
  • It helps you to relieve stress which can be caused due to expenses such as depreciation, maintenance and insurance because such expenses are fixed and expected.
  • Finally, renting gives you the chance to test the car in the real world to make sure your purchased car is the right choice.

WHY CAR RENTAL IS A BIG DEAL?

Purchasing a vehicle for rideshare is anything but cheap, stress-free and easy. To top it all of, Uber and Lyft have both decided to reduce the fare costs so that the demand for rides could be increased. This however, leads drivers with less earnings because their pay is based upon the total of the fares. Other things that add up to the stress for Uber and Lyft drivers is the operating cost of the vehicles which fluctuate due to:

  • Type of the vehicle,
  • State of the car: new or old,
  • Gas mileage,
  • Financing terms.

In comparison to this, in car rental program:

  • You only have to pay weekly fee which includes insurance and maintenance costs.
  • You can drive as much miles as you can because there’s no depreciation expense cost.
  • You’ve the liberty to return the vehicle in case you don’t want to drive anymore. Also, there’ll be no objection if you want to rent a car again to drive for two-three weeks.

FAIR APP

If in case you’re unaware of this news then, we must tell you that recently, Fair obtained the Uber’s Xchange Leasing portfolio. Also, it has entered into a partnership agreement with Uber wherein, it can now offer rideshare cars to Uber drivers. However, this opportunity is right now limited to only three states:

  • California
  • Philadelphia
  • Seattle.

If you’re living in any of these three states, then we highly recommend you to begin your application with Fair. Furthermore, you can download Fair app from the Google Play Store or iOS App Store. From there, you can sign in through your Uber account to search for a suitable car.

But, one thing that Uber drivers have to keep in mind is that Fair also provides car to non-rideshare drivers. Therefore, it’s imperative to always sign in using the Uber option of the app before searching for a vehicle.

HYRECAR

With features such as no contracts, no sign-up fees and no waiting, Hyrecar is considered the second-best option for renting a car to drive for Uber and Lyft.

What is Hyrecar, if one may ponder? Unlike Fair, Hyrecar is a car rental market. It’s specifically built up for companies such as Uber and Lyft and on-demand delivery apps such as Ubereats, Postmates and DoorDASH. If you want to know more about these on-demand delivery apps then, click here.

Advantages:

  • You have the freedom to select your desired vehicle depending upon location, model and price.
  • You get the chance to ascertain whether your desired car is fit for Uber and Lyft before you stress yourself with car purchasing.
  • They offer quick and quality service to the drivers. That is, you can obtain your rented car in less than 24 hours.

LYFT EXPRESS DRIVE

Lyft rental car program:

Like Uber, Lyft is also focusing on promoting car rental among Lyft drivers.

  • Hertz, one of the most important and major partner of Lyft have prompted an express drive program for the Lyft drivers. According to this program, Lyft express provides you with the offer of weekly car rental rates for the rented vehicles.
  • MONEY CHARGED BY LYFT TO RENT A CAR: If you’ve deposited $250 in the Lyft account, then your rate could go down to $209 per week. However, there’re few limitations to this such as:
  1. You can only use your rented car for Lyft riders.
  2. Your minimum number of rides should amount to 85.

In case you fail to exercise these two things then, you may not be able to utilize this exclusive Lyft rental discounted rate.

IMPORTANT NOTE: The car rental fees of Lyft is charged from your Lyft earnings.

  • They offer unlimited mileage.
  • Places where you can find Lyft express service:
  1. Washington D.C.
  2. Tampa Bay
  3. San Jose
  4. Portland
  5. San Diego
  6. Sacramento
  7. San Francisco
  8. Phoenix
  9. Philadelphia
  10. Orlando
  11. Orange County
  12. New Orleans
  13. Nashville
  14. Miami
  15. LA
  16. Las Vegas
  17. Houston
  18. Denver
  19. Dallas/Fort Worth
  20. Chicago
  21. Boston
  22. Baltimore
  23. Austin
  24. Atlanta
  • The driver should be at least 25 years old if he/she wants to rent a car through Lyft express.
  • Every 28 days, your rented car will have a maintenance inspection as stated by Lyft. During this time period, you’ll be temporarily unemployed as you would have to return the car for inspection. In addition to it, availability of another car while your rented car is being inspected is close to none.
  • Repairs are included through the mechanics. They’re in a partnership agreement with Lyft.

Lyft rates:

Lyft rates consists of the following taxes and fees:

  • Always make sure that the car tank is full when you return the car because if the car tank contains fuel with the quantity less than quarter/is quarterly filled, then you’ve to pay $18.75.
  • Desist smoking in the car and also, don’t allow any rider to do so. Any damage caused due to smoking, will result in a fine of $300.
  • The dropping of the car results in a fee of $33.
  • Don’t allow entry of pets in the car. Any damages caused due to pets will result in a fine of $250.

Lyft insurance:

  • EXPRESS DRIVE RENTER’S INSURANCE: This insurance highly depends upon the driving periods you’re in, when you unfortunately meet an accident. These riving periods are:
  1. PERSONAL DRIVING: It indicates of the time when your Lyft app isn’t open while you’re driving.
  2. RIDE IN PROGRESS: The time period when you’ve accepted a ride request and have reached the final destination.
  3. WAITING FOR REQUESTS: This includes the time when you’ve successfully logged in and are now waiting for a ride request.

Vehicles provided to you through Lyft Express will not be according to your choice. These vehicles mostly include midsize sedans such as Chevy Malibu or Nissan Altima.

  • COVERAGE PROVIDED: In case of accidents, the insurance provides coverage:
  1. LIABILITY: The insurance offers coverage $1,000,000 per accident for liability.
  2. PHYSICAL DAMAGE: You’re given $2,500 deductible on any type of physical damage.

Furthermore, in case of an accident where there’s an involvement with an uninsured or under-insured motorist, Lyft is going to provide you with coverage. However, that coverage will be to the limit of local regulations and/or state laws. Therefore, it’s always advised to drive safely and within limits to avoid such circumstances.

Takeaways:

  • To be able to drive on the road, you’ve to pay $459 as a weekly rental. This amount includes the deposit as well.
  • The fee of the rental car depends on the number of rides you’ve done in a given week.
  • Driving for Uber is prohibited. If found, the driver’s profits would cut down.
  • Lyft drivers aren’t qualified for Express Pay or driving bonuses.
  • The rental period should be at least 7 days.
  • As Lyft Express Drive is only available at specific places, you’re required to call for an appointment before you want to apply. However, receiving your rented car can take several weeks.

LYFT FLEX DRIVE

Difference between Lyft Flex Drive and Lyft Express Drive:

There is a slight difference between Lyft Flex Drive and Lyft Express Drive:

  • Lyft Flex Drive is available in places such as:
  1. San Francisco
  2. Philadelphia
  3. LA
  4. Houston
  5. Atlanta
  • Drivers will be able to rent cars only at selected CarMax locations.

Takeaways:

It is same as the Lyft Express Drive.

UBER-ENTERPRISE RIDESHARE RENTAL PROGRAM

Uber entered into a partnership agreement with Enterprise last December and have successfully expanded its routes to places like:

  • Boston
  • Chicago
  • Denver
  • LA
  • New Jersey
  • San Diego
  • SF

About the program:

  • The rental fees include $215 per week which includes both taxes and fees. Also, you’ve to pay $40 fee as a startup for the first week when you rent a car.
  • The refundable deposit amount equals to $250.
  • It offers you unlimited mileage.
  • The maintenance is taken cared by the Enterprise.
  • The drivers have to maintain a rental period of 7 days minimum and a maximum of 28 days.

Types of vehicles:

It’s important to be remembered that Enterprise carries a higher base fee than Hertz. But, it offers more availability of cars. The types of vehicles available by Enterprise are:

  • Chevy Cruze
  • Dodge Dart
  • Ford Focus
  • Honda Civic
  • Hyundai Elantra
  • Nissan Sentra
  • Toyota Corolla.

UBER-HERTZ RENTAL PARTNERSHIP

Since many people are opting for rideshare companies these days, Hertz has entered into a partnership agreement with both the TNCs i.e. Uber and Lyft. As mentioned above, the rental fee of Hertz is less according to Enterprise at $180 per week.

About Hertz:

  • There’s no requirement of credit.
  • The rental fee of Hertz is $180 per week including both taxes and fees. However, there’s no start-up fee.
  • The refundable deposit amount equals to $250.
  • It offers you unlimited mileage.
  • The maintenance is taken cared for by Hertz.
  • The drivers have to maintain a rental period of 7 days minimum and a maximum of 28 days.
  • Hertz Loss Damage Waiver provide insurance to the drivers only in periods 1 and 2. However, Uber provides insurance only in period 3.

Vehicle types:

Vehicles similar to Toyota Corolla.

MAVEN GIG:

Maven Gig is a General Motor’s leisure car rental business. It provides rented cars to TNCs companies such as Uber and Lyft and on-demand delivery apps such as UberEATS, Postmates,DoorDASH and etc.

There is another service – GM’s Maven car sharing which is owned by General Motors. It’s a car rental program. However, it’s different from Maven Gig.

Pricing:

It depends upon the type of car you want to rent. Such as:

  • Compact/Sedan requires $189 per week.
  • Crossover SUV requires $199 per week.
  • Electric cars require $229 per week.

Fees:

  • Deposit is required of $400.
  • In case of delays, there’s a fee of $50 per day with a processing fee of $20.
  • If you travel interstate, the fees adds up to $500.
  • Damages due to smoking results in $300 fees.
  • If the car fails to be serviced on schedule then, $150 penalty will be charged.
  • There’ll be $150 charged if there’re any wear and tear in the car.

Other data:

  • There’s unlimited mileage.
  • Drivers should be of at least 21 years in age.
  • Every 28 days, maintenance is required.
  • Vehicles included in Maven Gig are:
  1. Compact cars such as Chevy Cruze.
  2. Sedans such as Chevy Malibu.
  3. Crossover SUVs such as Chevy Trax.
  4. Electric cars such as Chevy Bolt EV.
  • Drivers can rent cars only at dealerships or dedicated lots that are partnered with Maven. Places where Maven Gig include:
  1. Austin
  2. Boston
  3. Detroit
  4. Los Angeles
  5. Phoenix
  6. San Diego
  7. San Francisco
  8. Washington D.C.
  • The rental commitment should be minimum of 7 days.

Insurance:

According to Maven Gig contract, when you’re driving a Maven car and find yourself in an accident then, you’ll be insured up to the minimum state coverage given. In case of an accident where the rented car is involved, $750 will be charged to the drivers.

Furthermore, rental fee covers the price of the insurance premium. Maven has also made it clear to all the drivers that if there’s any damage, the driver is responsible to pay up to the deductible. Also, you’ve to pay for the damages in case they find you driving dangerously or don’t follow the safety rules.

Takeaways:

  • The rental fees paid by the drivers is between $589-$629 which includes the deposit as well. However, the fees depends upon the type of the car.
  • The front deposit is $400 which is a little costly.
  • You’ll also find many penalty fees added up.
  • You can choose from a variety of vehicles which comprises of hybrids. However, there’re limited pick-up locations.

GETAROUND

The Getaround car rental service is a peer to peer vehicle sharing service. It provides car rental solutions to rideshare drivers.

Pricing:

  • The price depends upon the year, make and model of your rented car. Usually, it’s $5-$8 per hour or $41 on average per day.
  • Late fees starts from $50 per hour and can go to a maximum of $500. Also, there’re other fees that can add into it.
  • If you’re a first time renter then, you’ve to pay a deposit fee of $150. Also, if the drivers who are the members of Getaround, have one or more violations on their record then, they have to pay $250. It’s called Good Faith Deposit which means that it’s refundable.

Mileage limits:

There’s a mileage limit of 20 miles per hour i.e. 200 miles in a 24 hour period. If you continue even after that, $0.50 per mile is charged extra.

Locations:

If you want to drive for Uber and Lyft and use the rented car of Getaround then, you can drive only in San Francisco/Bay area. However, if you want to rent a car, you can use the app. Through that, you can unlock the vehicle that you’ve selected at a pre-selected location.

Other facts:

  • AGE FACTOR: If you’re an international driver or you drive for specialty cars, the age should be 25 years.
  • INSURANCE: The renter is held responsible for any incident and have to pay $1000 for damages.
  • MAINTENANCE: Every 28 day there’s an inspection. The repairs are included by a partnered mechanic.
  • TYPES OF VEHICLES: Vehicles include Compact cars such as Honda Fit, Sedans such as Toyota Camry and Luxury cars such as BMW and Audi.

Takeaways:

  • The rental fee is between $437-$537 which includes the deposit as well.
  • It’s used for short term rentals mostly.
  • The rates are highly expensive due to the per hour rental fees.
  • The late fee is very costly.

We provide you insurance as well as information based on any type of rideshare service you want to apply. For more information, click here.


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