How Much Can You Make Driving For Uber or Lyft?

How to make money driving for Lyft. — What's average salary for Uber drivers or Lyft?

What is the average salary for Uber drivers? Can you make money driving for Lyft? Do you need to earn extra money on a flexible schedule? Here are real ways to get paid for driving your car and earn $20+ per hour in your spare time. Learn How To Make Money Driving For Lyft at your spare time.

Whether it’s a side hustle or your main gig, driving for Uber or Lyft can be a great way to earn money on your own schedule. But succeeding as a rideshare driver takes more than a license and a car.

What is Lyft And How To Start Driving For Lyft?

Lyft is a rideshare platform currently operating in the U.S. and parts of Canada. The platform was established in 2012 and went public through a Nasdaq listing in March 2019.

Lyft operates in over 600 cities in the U.S. and 12 in Canada.

More than 2 million drivers operate on the platform, serving over 12 million customers.

can someone else ride with me while driving for Lyft — How much can you make driving for Lyft?

Customers book rides with their smartphones through the Lyft app, which is available via Google Play or the App Store.

Lyft is a platform that connects drivers with individuals and organizations that need rides.

How Much Do Lyft Drivers Make?

The gig economy and advances in technology have made for interesting job opportunities. Ride-hailing services like Lyft are now a formidable part of the transportation industry.

The rideshare company, which is part of the Lyft Inc. portfolio, is one of the two most popular taxi-alternative services in the U.S.

But how much do Lyft drivers make? How much can you make driving for lyft? Keep reading to find out.

How much can you make driving for Lyft. Average income for Uber drivers. — How to make money driving for Lyft

What Is The Average Income For Lyft Drivers?

Indeed puts the average annual earnings for drivers on the rideshare platform at $31,144 based on 35 self-reported earnings — 39% below the national average for drivers.

When do lyft drivers get paid? Glassdoor estimates the average earnings for a Lyft driver to be $18 per hour based on 240 self-reported earnings.

Multiply that by 40 and then by 52, and that works out to an annual income of $37,440. That means estimates vary for how much Lyft drivers earn.

Lyft Vs. Uber Comparison (For Drivers and Riders)

The taxi industry has suffered a huge loss by the increased popularity of rideshare apps, notably Lyft and Uber.

I personally have been using these apps almost daily for about a year, and I love them. However, I’m shocked by how many people are still on the fence by these apps.

For riders, it can be strange to get “in someone else’s car” the first time, but once you realize the convenience, you’ll be hooked.

How To Make More Money Driving For Lyft

Guide To Picking Locations For Lyft Drivers

Learn how to make more money as a Lyft driver and the benefits of being a rideshare driver. Get tips and tricks to make extra money driving with Lyft.

Over 1.4 million Lyft drivers are working to meet the growing rideshare demand.

If you’re one of these Lyft drivers, you know being a rideshare driver can be a great way to make extra money and enjoy the benefits that come with being an independent contractor.

But it’s not all rainbows and butterflies driving for Lyft.

Sometimes, it’s hard to make ends meet with rideshare driving.

And, taking the fact that you need to pay for gas (which can feel like taking a second mortgage) and save for taxes, you’re walking home with more jiggle, jiggle, and less folds.

Knowing how to pick the right locations can make a huge difference to your bottom line.

How Lyft Drivers Pick Locations To Earn More Money

Repeat after me: Location, Location, Location. If you want to crack the code and make more money as a Lyft driver, you need to understand how to pick the right locations.

This is critical because it’s one of the biggest factors determining how much money you make fro driving lyft cars. Let’s get into how to pick the right locations to make extra cash with Lyft!

1. Check Bonus Zones On The Lyft Driver App

The first thing to do when looking for high-earning Lyft locations is to check the Bonus Zones in the Lyft driver app. This means that you have the potential to earn more money if you drive in these areas. Bonus Zones appear as pink and purple zones on your map.

When you drive into a zone, you unlock the bonus for your next ride request. And you earn the bonus once the ride is complete.

Here are some examples from Lyft:

If you drive into a $5 zone, followed by a $10 zone before you get a ride request, you’ll unlock the $10 bonus.
If you drive into a $10 zone, followed by a $5 zone before you get a ride request, you’ll unlock the $10 bonus.

Each Bonus Zone is marked with the exact bonus amount you’ll earn so you know before you go.

2. Consider The Time of Day When Driving For Lyft

We’ve talked a lot about where to work. But let’s take a moment to talk about when to work. If you want to make more money with Lyft, you need to be strategic about when you’re working.

As a general rule, the busiest times for ride requests are weekends, evenings, and during weekday rush hour traffic.

Here are a few things to consider:

Weekend nights are often busier than weeknights.
Ridership will be higher during peak hours. This is usually in the morning and evening rush hour periods.
Surge pricing (Prime Time) might happen during specific times. For example, you might see a surge in ride requests around 11 pm on Saturday nights. Keep an eye on the Lyft driver app to see trends.

3. Park Near High Foot-Traffic Areas

Another great way to find high-earning Lyft locations is to park near high foot-traffic areas.

Some examples of high foot-traffic areas are:

Hotels
Airports
Shopping malls
Convention centers
Bus and train stations

People often look for rides in these areas for various reasons.

For example, visitors in town arriving at the airport or staying at hotels need transportation if they don’t have a rental car or other transportation.

Try thinking about areas with a lot of pedestrians who may want to skip a long walk — especially on rainy or hot days.

4. Be Ready Near Bars or Alcohol Venues

This one should be pretty obvious — but it’s worth mentioning. If you want to make more money as a Lyft driver, you need to be ready near bars or alcohol venues.

This is because people will be looking for a safe ride home after drinking … we hope. So, you might be more likely to get ride requests if you position yourself near these types of venues.

5. Keep An Eye On Local Events

Want to increase the amount of money you earn with Lyft? A good bet is to keep an eye on local events. This is key because large events often cause a surge in ride demand — which potentially means more money in your pocket.

Of course, this also means more drivers will be on the road competing for rides. So, you need to be strategic about when and where you position yourself.

The best way to do this is to use the Lyft driver app to see where the ride requests are coming in — back to the first point: Bonus Zones! Many people prefer not to drive themselves to local events for various reasons (have you seen how much parking garages charge?!)

Driving For Lyft Insurance Protection Policy

Lyft provides additional insurance policies, at no cost to the driver. They work with leading insurance carriers to provide various coverages including:

Commercial auto liability insurance up to $1M per occurrence,
Contingent comprehensive and
Collision insurance for drivers who carry comprehensive and collision coverage on their personal auto policy. And coverage for bodily injury caused by uninsured/underinsured motorists when you are engaged in a ride.

Factors Affecting Lyft Driver Earning Potential?

If you want a normal 9-to-5, being a rideshare driver probably isn’t for you. You don’t get paid a set salary or guaranteed hourly wage.

How much you make as a lyft driver is based on a lot of different things. Especially the number of rides you give and the fares you earn.

Here are some factors that affect how much Lyft driver can make.

1. The Type of Service Level

Lyft has a similar setup to Uber with their Lyft Lux and Lyft XL services. Interested in making money with Uber instead? Check out on how to make more money with Uber.

Driving a Lux trip, for example, may pay more than a standard ride. The Lux Black and Lux Black XL rides can also pay more.

One Lyft driver on Reddit says, “It’s more money for the same ride. Lux and Premier passengers are, in my experience, more respectful most of the time and tip well. So, yes, it is well worth it.

2. Where You’re Working

Where you work can also affect how much you make as a Lyft driver. In general, you’ll make more money in a large city like San Francisco, Las Vegas, Los Angeles, and Miami than in a small town.

For example, Lyft drivers in the San Francisco Bay Area average $23.28 an hour, while Lyft drivers in Charlotte, North Carolina, get around $15 an hour.

3. Driving For Lyft Trip Duration and Distance

As a Lyft driver, you get paid based on how long your trips are and how far you drive. Longer trips will generally earn you more money, as you’ll rack up more miles and minutes.

how long does it take to start driving for lyft — How long does it take to start driving for Lyft?

4. Prime Time, Promotions, and Bonuses

Uber has surge pricing. Lyft has Prime Time.

It’s the same basic idea: a pricing/fare increase during times of high demand and peak hours like rush hour. As a driver, you usually make more money when there’s higher Prime Time because these are the busiest times.

This is a way for Lyft to meet demand with supply: by creating incentives for drivers to get out there and pick up eager Lyft passengers needing rides.

Tips By Lyft Drivers

Last but not least, don’t forget about tips! While it’s not required, many Lyft passengers tip their drivers.

And the app encourages them to do it by showing a tipping button on the app screen. The best part? Lyft drivers keep 100% of the tips they earn.

What You Need To Drive For Lyft

1. Your Driver’s License

You’ll need to meet the age requirement for your region.

2. A Background Check

We’ll need your consent to complete a criminal background check and to review your driving history. Please note: this is not a credit check.

average salary for uber drivers

3. Insurance and Other Documents

If you’re using your own car, upload your insurance, registration. Some regions will require vehicle inspection as well. Learn more.

4. Your car, or a Rental

You must have a 4-door vehicle, or rent a car through Express Drive. Vehicle requirements vary by region. Learn more.

Smart Tips to Help You Make More Money With Lyft

Driving with Lyft is one of the ways to make money with your car.

However, everyone who works for Lyft has to figure out when to work, where to work, how to be a good lyft driver and how to make the most money with Lyft.

What about the best places to drive Lyft, the best times to earn more lyft and how to increase the hourly rate?

Is Driving For Lyft Worth It?

Driving for Lyft is flexible compared to a full-time, or even part-time, job.

Drivers can work at their convenience as they take care of their business, creating time for hobbies and family members or friends.

The cost of running the business can be expensive. It’s not unheard of for expenses to run Lyft drivers out of business.

Benefits And Challenges Driving For Lyft / Uber

As a Lyft driver, you’re an independent contractor. This means you can choose your own hours and work as little or as much as you want.

Part time, full time — it’s your time. You can be a rideshare driver as a side hustle or make it your full-time job.

One of the best things about being a Lyft driver is being your own boss and controlling your hours. Beyond that, you also have the freedom to take other work opportunities.

For example, you can take up a job as a food delivery driver with a delivery service like DoorDash, Grubhub, or Uber Eats and take your career on the road to new heights.

Questions to Ask Before You Start Driving For Lyft / Uber

1. Do I Have The Discipline To Work On My Own Schedule?

When it is cold outside, it’s tempting to stay in bed rather than go out and face the elements.

In times like these, if you lack the self-discipline to motivate yourself to work, you may see a smaller payout that week.

Repeat this often enough and the consequences can be dire.

2. Am I Comfortable Driving For Six or More Hours Per Day?

One of the more challenging parts of driving with Lyft is the amount of time that you have to sit each day.

Depending on how busy your city is and how much money you want to earn, you may find that you may be working long hours.

3. Am I Ready To Be Self-Employed? Driving For Lyft.

Being your own boss carries a lot of responsibilities, perks, and risks.

For example, if you need to take a vacation there will be no PTO to pull from.

Another thing to consider is illness. If you get sick or sustain an injury there is no sick pay.

And you also have to consider that you’ll be using your own car, which means more wear and tear than if you were just using your car to commute.

Q/A How Much Money Can You Make Driving For Lyft

1. How Do Lyft Drivers Get Paid?

Your pay is based on the rides you complete.

In most regions, you can see the fare before you accept a ride. And you keep 100% of your tips, of course.

Your earnings will automatically be transferred to your bank account every week. You can also get paid faster with Express Pay or with a Lyft Direct debit card.

2. How Long Does It Take To Start Earning on Lyft?

It takes around 30 minutes or less to enter your credentials. Which are typically your:

Phone number,
Email address,
Driver’s license and
Other identifying information.

If you have a car, Lyft will determine its road readiness.

You also have to authorize the platform to run background checks on your driving record. This process usually takes a few days.

3. When and Where Can I Drive For Lyft?

The Lyft Driver app is your key to success, with real-time info and features that make earning easy:

Hourly Ride Predictions for each day — you’ll get an overview of the best times to drive and where passengers need rides.

Available Bonuses for the week.

Local Events (and earning opportunities), if applicable, that are happening nearby.

4. How Is Driving For Lyft Hourly Earnings Calculated?

The hourly earnings communicated are no guarantee of future performance and not indicative of any specific lyft driver’s earnings, and calculated before taxes, insurance, depreciation, and other costs associated with being a rideshare driver.

This calculation includes all online platform time for drivers, including any potential time spent engaged with other app-based services. Learn more about driver pay. What’s the average salary for Uber drivers?

5. How Long Does It Take To Apply To Start Driving For Lyft?

Typically, filling out basic information (like your mobile phone number, driver’s license, and other documents) takes less than 30 minutes. Then a few more things need to happen:

Vehicle Inspection: If you’re using your own car, it will need to pass a Lyft inspection to make sure it’s road-ready. We’ll help you find a location and schedule an appointment.

Background Check: Safety is our top priority, so we’ll need to run a background check to review your driving history. This can take a few days to be completed.

6. Does Lyft Pay For Accidents?

Yes, Lyft provides insurance for accidents.

The platform has third-party liability coverage that pays up to $1 million for personal injuries and property damage if a driver is involved in an accident.

This insurance is contingent on the terms of service at the time an accident happens.

Claims go to the driver’s insurance company first before the platform determines whether it will pay for damages.

7. Is Driving For Lyft Safe? How To Make Money Driving For Lyft

Lyft is committed to driver and passenger safety. They’ve got your back before, during, and after the ride.

24/7 Support: Easily contact our support team for reliable, around-the-clock help by phone or email, with any issues on and off the road.

Emergency Assistance: You always have the ability to contact 911 directly from your app.

Insurance: Our car insurance has your back. From the moment you switch into driver mode until you drop off your last passenger of the day. Learn more

8. Does Lyft Cover Gas and Car Maintenance Expenses?

Lyft does not cover gas and car maintenance expenses.

Lyft Drivers are independent contractors, and they are expected to take care of these expenditures with the money they earn from trips. However, Lyft does have programs to help with the costs, like a partnership with Openbay.

Do lyft drivers make good money? You may ask…….

9. Can Someone Else Ride With Me While Driving For Lyft?

You are not allowed to bring your own passengers while using your car for Lyft—learn more about the company’s policy here!

Unfortunately, you’ll have to ride solo even when you don’t have customers. Other passengers can not ride with you while driving for Lyft. Here is Lyft’s statement on the policy:

“Don’t bring your friends or family along. Lyft passengers expect to get a professional, vetted driver. It can make passengers feel unsafe if there’s an unknown person accompanying the ride.”

Related Post: Best Car Insurance For College Students

What is Lyft And How To Start Driving For Lyft?

Related Post: How To Save Money On Gas