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Lyft employs more than 100,000 drivers across the country looking to make extra money shuttling passengers. But you’ll be an independent contractor rather than an employee, which means you get none of the benefits that come with a full-time job.
Lyft is a ridesharing company that connects riders with drivers based on their location. Lyft drivers work as independent contractors, which offers the flexibility to set preferred hours and availability.
tips
Lyft drivers log into the Lyft app, turn on driver mode and potential passengers appear as ride requests. When the driver accepts the ride request, they pick the passenger up at their preferred location.
Once the ride is complete, payment is processed automatically through the app. Passengers also have the opportunity to rate and tip their driver once the ride ends.
Join for free and earn weekly bonuses.
Lyft suggests you can make up to $35 an hour as a driver, but there’s no guarantee you’ll receive that amount. The average rideshare driver makes between $12.41 and $23.15 an hour, according to a survey by Gridwise. Pay is based on the time and distance of a ride, and Lyft takes a 25% commission on your earnings.
Lyft has subregion pricing and Prime Time pricing during peak hours, which means your earnings hinge heavily on where and when you drive. Drivers also have the opportunity to earn more by driving luxury vehicles for Lyft’s Lux, Lux Black and Lux Black XL service tiers.
Drivers must submit their banking and tax information to be paid weekly through the Lyft Driver app. Lyft payments can only be made to checking accounts. You’ll also need to select your tax classification and add your Social Security number.
Weekly payments are generally initiated by Lyft on Tuesdays at 5 a.m., though some drivers report being paid on Monday. Drivers typically receive their pay within three to five business days. Drivers can also opt into Express Pay, which allows drivers to cash out eligible earnings of $5.50 to $3,000 up to five times daily.
Lyft offers passengers the opportunity to leave driver tips through the Lyft app or in cash. Tipping is optional and drivers receive 100% of their passenger’s tips.
Designed for freelancers, this checking account has early direct deposit and sets aside money for taxes.
| APY | 1% |
|---|---|
| Fee | $0 |
| Minimum deposit to open | $0 |
| Minimum balance to earn interest | |
| Interest compounding | Daily |
Lyft is available in all 50 states, but it’s not yet available in all rural areas and small towns. Lyft has been increasing coverage over the last several years, and adds new towns regularly.
To find out if Lyft is available where you’re at, download the app and request a ride or sign up to drive online.
Interested in getting behind the wheel? Here’s how to get rolling and drive with Lyft:
Complete your application by uploading photos of your vehicle registration and insurance. Add a driver photo and review Lyft’s 19-point vehicle inspection checklist.
Lyft will conduct a background check to review your driving history. You’ll also need to schedule an appointment for your vehicle’s inspection.
Eligibility criteria varies by state, so you’ll want to check Lyft’s website for information on your location before signing up.
| Minimum age |
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|---|---|
| How long do I need to be licensed? |
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| Do I need commercial insurance |
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| Is a background check required? |
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| Other driver requirements |
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All Lyft vehicles must have four doors, a minimum of four seat belts and a maximum of eight seat belts. Some states also impose minimum and maximum Lyft vehicle ages. Taxis, stretch limos and most subcompact vehicles are not eligible Lyft vehicles.
If you’re interested in driving for Lyft Lux, Lux Black or Lux Black XL, you’ll need to meet the following eligibility criteria:
| Service | Model year | Other requirements |
|---|---|---|
| Lyft | Varies by city |
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| Lyft Lux | 2013 or newer |
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| Lyft Lux Black | 2015 or newer |
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| Lyft Lux Black XL | 2015 or newer |
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Lyft Express Drive is a rental program available in select cities designed for Lyft drivers who don’t own their own vehicle. Through the program, drivers apply online or through the Lyft app and pick up their rental at an eligible Avis, Flexdrive or Hertz location. To be eligible for the program, drivers must be over the age of 25 and must pay a refundable security deposit.
Rental fees are automatically deducted from the drivers’ earnings. The rental period is flexible and the car can be dropped off anytime after the first seven days. To remain eligible for the Lyft Express Drive program, drivers must complete at least 20 Lyft rides every seven days.
Driving with Lyft can be a solid way to supplement your income or to earn spending money in your spare time. But riders aren’t always on the app, which can limit how much you can make. Compare other ridesharing services and consider signing up for more than one if you’re looking for steady work.
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