Does Uber Make More Money Than Lyft

Want to make extra money rideshare driving? Which is ameliorate for drivers: Uber vs. Lyft?

Uber and Lyft offering side hustlers an easy and low-commitment way to make a buck. As long equally you have a newish machine, a smartphone, and a little actress time, then you lot can probable sign up to drive.

Overall, Uber and Lyft are incredibly like companies, but subtle differences might encourage you to drive for one over the other. This comparison volition break down what Uber and Lyft have to offer drivers, looking peculiarly at driver pay, and exploring other factors like the sign-up procedure and using the app to bulldoze.

Uber vs. Lyft driver: Who Pays Better?

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Uber vs. Lyft: Getting to know these rideshare giants

These days you lot can say the word "Uber" or "Lyft" and people know exactly what you're talking almost. Uber was founded in 2009 and has since grown to operate in over 900 cities worldwide. Lyft launched in 2012, first as Zimride, and it now operates in nigh 700 cities throughout the U.South. and Canada.

Too the reputation, proper name recognition, and achieve, these two companies share many similarities that make it hard to decide which one to bulldoze for.

Uber and Lyft both:

Have 24/seven availability, pregnant flexible hours available for any kind of side hustle schedule
Let drivers long into the app and pick upward fares whenever they take the time to make actress money
Have drive and vehicle requirements that must be met earlier yous can start working
Do a criminal background check and vehicle history cheque for each driver
Utilize a formula to calculate driver pay that includes fourth dimension of 24-hour interval, mile driven, and type of vehicle on acme of base pay
Let riders add a tip at the finish of their ride — Uber and Lyft drivers keep 100% of tips
Offer drivers bonus pay when they drive during busy times
Accept rental auto options for people who want to drive for Uber or Lyft merely don't have a vehicle of their own

On the surface, information technology appears that Uber and Lyft are nearly identical, but these companies aren't the same. Lyft, for example, has more of a fun, friendly, and whimsical make identity. Uber has curated a more than professional and business concern-friendly look through it's high-end UberBlack service.

There are besides differences in how much drivers make, and that's key if you're interested in driving for Uber or Lyft. Let'due south become into driver pay next because it can be a major deciding gene.

Who pays better, Uber or Lyft?

That's the question would-be Uber or Lyft commuter want the answer to more than anything. And information technology makes sense. If y'all choose one of two very similar companies, yous desire the 1 that pays the best.

Several factors go into how much Uber and Lyft drivers make, including which city you're driving in and when. Survey data suggests that Uber drivers earn around $two more per hour than Lyft drivers despite those factors.

Header	Uber	Lyft
Before expenses	Hourly rates vary	$17.49/hr
Later on expenses	Hourly rates vary	$11.55/hour

Outset driving with Uber

I want to clarify that rideshare drivers aren't paid hourly wages, but you tin can summate hourly pay with the dollar corporeality fabricated per calendar week / total number of hours worked per week.

You become a much ameliorate idea of your hourly pay if you use the unabridged week because there are sure days and times when riders are paying more than per ride, which increases your driver pay. It's also essential to utilize the full number of hours yous dedicated to rideshare driving for the week, non just the number of hours yous were literally driving.

Those who drive with both Uber and Lyft report that approximately $6 of their hourly pay goes towards driver expenses, including rideshare insurance, vehicle maintenance, machine payments, gas, etc.

While Uber drivers report college hourly pay, Uber actually takes more in commuter commissions than Lyft. Here'south the commission that each company reports to accept from each rider'due south fare:

Uber takes a 25% commission
Lyft takes a 20% committee

However, the reality is that both companies finish up taking a higher commission, anywhere from xxx% to 40% of each fare. The 20% and 25% commission is on miles and time, and that's true for both companies. Simply both companies may take more for things like a condom fee or airport fee. That's where the committee gets closer to 30-xl%.

Generally, the shorter the ride, the higher the commission. Keep that in mind when you start driving!

Uber vs. Lyft commuter sign-upward

The sign-up process for each visitor is straightforward. Both companies consistently rent new drivers, then it shouldn't be difficult for you to commencement driving soon.

Before y'all try to sign-upwardly, you volition want to make sure you lot meet specific commuter and vehicle requirements.

Uber driver requirements:

Meet the minimum historic period to drive in your city
Have at least one year of licensed driving feel in the U.Southward. (three years if y'all are under the age of 23)
Have a valid U.S. driver's license
Have an eligible four-door vehicle (not older than fifteen years old, not salvaged, and no body harm)

If you meet those requirements, you lot can sign upwardly to bulldoze for Uber here.

The adjacent step is submitting the following documents to Uber:

Valid U.S. driver'due south license
Proof of residency in your city, state, or province
Proof of vehicle insurance
A commuter photo

Uber will run a driver screening to review your driving record and criminal history. You lot tin check the status of your application online or in the Uber driver app. The background check takes effectually five to seven days.

Lyft driver requirements:

Meet the minimum age to bulldoze in your city
Accept a valid U.Southward. driver's license
Have an eligible 4-door vehicle (non older than 15 years old; not salvaged; no body impairment; minimum of five seatbelts, maximum of eight seatbelts; and no more than 350,000 miles on the vehicle)

If y'all encounter those requirements, y'all can sign up to bulldoze for Lyft here.

The adjacent stride is submitting the following documents to Lyft:

Valid U.S. commuter's license
License plate number
Proof of residency in your city, state, or province
Proof of vehicle insurance
A driver photo

Lyft likewise runs a commuter screening to cheque your driving record and criminal history, and it takes about seven days to complete. As of 2019, all Lyft drivers must go through a Community Safe Instruction Programme before driving, and it explains how to bargain with dangerous or hard situations so everyone tin feel comfortable during rides.

Uber and Lyft will waitlist applications if there are too many drivers in your area, and they do this to ensure that there are enough rides to go around for drivers to earn a decent amount of money.

What information technology's like driving for Uber vs. Lyft

As a driver for each company, you will rely heavily on the driver apps. The app is where you log in to get-go driving for the day, pick upwards fares, get directions, get paid, etc. Overall, both Uber and Lyft'southward driver apps are incredibly intuitive.

Driving for Uber

Uber starts new drivers off by going through some tutorials and then you know how to utilize the app. In that location's also an online aid center if y'all have any questions.

You will log into the app and click the "Go" push button, and the app starts looking for requests from riders in your area. The app pings when there'due south a request, and you lot can see the destination and estimated fare upfront.

Drivers tin can accept or turn down fares, and you want to accept them every bit rapidly as possible. If you don't, the fare volition become to another driver, and it counts as if you declined the ride. Uber rewards drivers who accept more fares — it's how you earn certain incentives that increment your pay.

The Uber driver app tells yous exactly where to become, but yous can accept directions from the rider if you want.

Once the ride is over, the rider tin can add a tip if they want, and they'll rate y'all. Uber didn't ever encourage tips, but they exercise now, and Uber drivers keep 100% of tips.

Driving for Lyft

Lyft gives drivers a digital Lyft Driver Guidebook to beginning that includes many tutorials to assistance them become started. The tutorials walk y'all through key parts of using the app so you experience comfortable starting to drive. Some tutorials are mandatory and others are only suggested.

When you're set up, log into the app, and yous'll get a ping with the passenger's picture show and star rating. Like Uber, you can accept or decline. Simply Lyft will contact you with a warning if you reject as well many rides.

The Lyft commuter app gives you directions to pick up the rider — yous'll be able to contact the rider in the app if y'all're struggling to find them or have any problems with the selection-up location.

Afterward picking up the rider, you'll demand to verify that past clicking or swiping in the app. From at that place, the app will pull up directions to their destination.

You will have to end the ride in the app once the passenger is dropped off. They tin add a tip and will rate yous in the app. You'll also demand to rate your passenger. Lyft drivers also proceed 100% of their tips.

Incentives, bonuses, and rewards for Uber and Lyft

Here's where yous have the opportunity to make the most money driving for either visitor. Bonus, incentives, and rewards tin can supplement your earnings, and they're more common during the busiest times in the busiest locations.

Lyft driver promotions

Lyft has real-time and scheduled bonuses. Real-fourth dimension bonuses pop upwardly suddenly in the driver app because there'southward a sudden high demand. Scheduled incentives appear in the app at the beginning of the week, and they can assist y'all program your hours.

Here are Lyft's driver bonuses:

Personal Ability Zone: These appear in the app when more passengers are bachelor than drivers in your specific location. These pay a flat rate bonus per ride, similar $1.fifty to $3.fifty+. Sometimes they happen in real-time, simply Lyft may schedule them earlier large events.
Ride Streaks: This is a multiple-ride bonus you tin earn for accepting back-to-dorsum ride during busy hours. Ride Streaks are scheduled during weekday commute hours and busy holidays like New year's Eve. St. Patrick's Day, and Halloween, for instance.
Earnings Guarantee: If y'all can commit to completing a sure number of rides in a set amount of time, Lyft will guarantee a dollar amount for your pay. Lyft covers the difference between your actual earnings and guaranteed earnings if your fare is less.
Ride Challenges: This is a multi-ride bonus you can earn for completing so many rides within a set timeframe. New Ride Challenges are put in the app every Monday, and they might be something similar "Complete x rides between Mon and Fri to earn an extra $25."

Lyft also has a 3-tiered rewards plan that incentivizes drivers to drive during decorated hours and keep their ratings high. The highest level, Platinum, comes with costless 24/vii roadside assistance from Allstate and free Self-Employed TurboTax.

Uber driver promotions

Overall, Uber has fewer driver promotions than Lyft, but the ones they offer can heave your overall pay. Uber bases its promotions on market factors like rider demand and driver availability.

Here are Uber's commuter bonuses:

Consecutive Trips: This promotion pays drivers an actress dollar for completing a ready number of consecutive trips during busy times of the day. For example, you might earn an actress $15 for completing iv trips in a row during blitz hour traffic.
Quest: The Quest Promotion is when you complete a sure number of trips over multiple days. This could be something like an additional $75 for completing 25 trips over three days.

Then in that location is Uber Pro, which is a rewards program to encourage drivers to accept more than rides and maintain a high rating. Your level is adamant based on ratings and points earned over a three-calendar month flow.

Uber Pro comes with perks similar 5% cash dorsum at gas stations with your Uber Visa Debit Card, discounts on auto maintenance, and free dent repairs. The coolest reward is that you can receive 100% gratuitous college tuition for Arizona Land University's online degree programme, which extends to your family as well.

Is information technology better to bulldoze for Uber or Lyft?

Uber and Lyft are both legit ways to make extra money, and they can exist a solid side hustle for many people. Uber drivers typically make a little more than on average, approximately $ii an 60 minutes more. But Lyft offers drivers more than promotions, which only increment their earnings.

The reality is that yous don't take to selection i — you lot can bulldoze with both Uber and Lyft and many drivers do.

Drivers who work for both companies will continue both apps, sometimes on two dissever phones, and take the rides with the all-time fares. The danger is that not accepting rides can hurt your ratings, and both Uber and Lyft take programs that reward drivers with high ratings.

Yous can endeavour out both and encounter if one service is more popular in your area, and you can also run into if the ratings reward programs are worth it or not. Some drivers may find that going with the college fare is a better choice financially.

FAQs

Can you drive for both Uber and Lyft?

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Yes, and many drivers do this to increase their chances of earning. Many drivers fifty-fifty keep both apps open at the same time to brand sure they're available for every bit many rides equally possible.

Yep! Drivers for both Uber and Lyft keep 100% of their tips. If you offer a sugariness ride and stellar service, you'll increment your chances. I've experienced drivers going out of their style to earn tips, from offering mints to having telephone chargers ready and plugged in.

What if you don't have a machine and withal desire to drive?

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One pick is to rent a car from a HyreCar, which is a peer-to-peer car rental platform where people can rent out their car to rideshare and nutrient delivery drivers. HyreCar costs around $24-$40/day.

Uber drivers can rent cars through the Uber Vehicle Market, and they estimate that it costs $214/week on average to hire a auto with them.

Having the option to rent is keen, but it volition seriously eat into your take home pay, so I would be wary of renting on a full-time footing. HyreCar and Uber's Vehicle Marketplace are amend options if something happens to your car and you desire to keep driving while it'southward fixed.

Do I demand special insurance to drive with Uber and Lyft?

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Yep and no. Uber and Lyft accept special rideshare insurance that covers y'all while you take the app on and you lot're waiting for a fare, but it's liability only. Once a passenger is in your automobile, you'll as well be covered by comprehensive and standoff insurance.

Only, your machine insurance company is unlikely to embrace you during that first phase, and they may even cancel your policy if they notice out y'all're driving for coin. This is why special rideshare insurance is recommended.

GEICO, Allstate, Progressive, and State Subcontract are a few of the insurance companies offering rideshare-specific coverage. You can expect to pay effectually $15/month for coverage.

Most Millennial Coin Man

Bobby Hoyt is a sometime band director who paid off $40,000 of student loan debt in 18 months on his pedagogy salary and so left his job to run Millennial Money Man full-time. He helps other Millennials earn more through side hustles, salve more through budgeting tools and apps, and pay off debt. He is a personal finance expert who has been seen on Forbes, Reuters, MarketWatch, CNBC, International Business concern Times, Business organisation Insider, US News, Yahoo Finance, and many other personal finance and entrepreneurship media outlets.

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Source: https://millennialmoneyman.com/uber-vs-lyft-driver/

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