Who Makes Morw Money Uber Or Lyft Drivers

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

Uber and Lyft offer side hustlers an easy and low-commitment way to make a buck. Every bit long every bit you have a newish car, a smartphone, and a piddling extra fourth dimension, then yous tin likely sign up to drive.

Overall, Uber and Lyft are incredibly similar companies, but subtle differences might encourage you to drive for ane over the other. This comparison will break downward what Uber and Lyft take to offering drivers, looking particularly at commuter pay, and exploring other factors like the sign-upward process and using the app to drive.

Uber vs. Lyft driver: Who Pays Better?

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Uber vs. Lyft: Getting to know these rideshare giants

These days you 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 information technology at present operates in nearly 700 cities throughout the U.S. and Canada.

Also the reputation, proper noun recognition, and reach, these two companies share many similarities that make information technology difficult to make up one's mind which 1 to bulldoze for.

Uber and Lyft both:

Take 24/7 availability, meaning flexible hours available for any kind of side hustle schedule
Allow drivers long into the app and option up fares whenever they take the time to make extra money
Have bulldoze and vehicle requirements that must be met before you lot can offset working
Practise a criminal background check and vehicle history check for each driver
Use a formula to calculate driver pay that includes time of twenty-four hour period, mile driven, and type of vehicle on top of base pay
Let riders add a tip at the finish of their ride — Uber and Lyft drivers keep 100% of tips
Offering drivers bonus pay when they drive during busy times
Have rental motorcar options for people who want to drive for Uber or Lyft but don't accept a vehicle of their ain

On the surface, it appears that Uber and Lyft are near identical, but these companies aren't the aforementioned. Lyft, for example, has more than of a fun, friendly, and whimsical brand identity. Uber has curated a more than professional and business organisation-friendly look through it's loftier-stop UberBlack service.

There are also differences in how much drivers make, and that's key if you lot're interested in driving for Uber or Lyft. Let's get into commuter pay next because information technology can be a major deciding cistron.

Who pays better, Uber or Lyft?

That's the question would-be Uber or Lyft driver desire the answer to more than than anything. And it makes sense. If you choose one of 2 very like companies, you want the one that pays the best.

Several factors get into how much Uber and Lyft drivers make, including which urban center you're driving in and when. Survey information suggests that Uber drivers earn around $ii more per 60 minutes than Lyft drivers despite those factors.

Header	Uber	Lyft
Before expenses	$19.73/hour	$17.49/hr
Later expenses	$13.47/hour	$xi.55/hour

Start driving for Uber

I want to clarify that rideshare drivers aren't paid hourly wages, but you can calculate hourly pay with the dollar amount made per week / full number of hours worked per calendar week.

You become a much better thought of your hourly pay if you apply the entire calendar week considering at that place are certain days and times when riders are paying more per ride, which increases your driver pay. It's also essential to use the total number of hours you dedicated to rideshare driving for the week, not just the number of hours yous were literally driving.

Drivers for both companies report that approximately $vi of their hourly pay goes towards commuter expenses, including rideshare insurance, vehicle maintenance, machine payments, gas, etc.

While Uber drivers study higher hourly pay, Uber actually takes more in driver commissions than Lyft. Here's the committee that each company reports to have from each passenger's fare:

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

Nonetheless, 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'southward true for both companies. But both companies may have more for things similar a safety fee or airdrome fee. That'southward where the commission gets closer to 30-forty%.

Mostly, the shorter the ride, the higher the committee. Keep that in mind when you starting time driving!

Uber vs. Lyft driver sign-up

The sign-up process for each visitor is straightforward. Both companies consistently hire new drivers, and so it shouldn't be difficult for you to get-go driving soon.

Earlier yous endeavour to sign-upward, you volition desire to make certain you lot meet specific driver and vehicle requirements.

Uber driver requirements:

Meet the minimum age to drive in your city
Have at least one twelvemonth of licensed driving experience in the U.South. (three years if yous are under the historic period of 23)
Have a valid U.S. driver'due south license
Have an eligible 4-door vehicle (not older than fifteen years former, not salvaged, and no trunk damage)

If you meet those requirements, you can sign up to drive for Uber here.

The next step is submitting the following documents to Uber:

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

Uber volition run a driver screening to review your driving record and criminal history. Yous can check the condition of your application online or in the Uber driver app. The groundwork check takes around 5 to vii days.

Lyft driver requirements:

Meet the minimum age to drive in your city
Have a valid U.S. commuter's license
Accept an eligible four-door vehicle (not older than fifteen years old; non salvaged; no body harm; minimum of v seatbelts, maximum of eight seatbelts; and no more than than 350,000 miles on the vehicle)

If you meet those requirements, you can sign up to drive for Lyft hither.

The side by side step is submitting the following documents to Lyft:

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

Lyft also runs a commuter screening to check your driving record and criminal history, and it takes nigh vii days to complete. Equally of 2019, all Lyft drivers must go through a Community Safety Education Program before driving, and it explains how to deal with dangerous or difficult situations so everyone can experience comfortable during rides.

Uber and Lyft will waitlist applications if there are as well many drivers in your expanse, and they exercise this to ensure that there are enough rides to get around for drivers to earn a decent amount of coin.

What it'south similar 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 start driving for the twenty-four hour period, pick up fares, get directions, get paid, etc. Overall, both Uber and Lyft's commuter apps are incredibly intuitive.

Driving for Uber

Uber starts new drivers off by going through some tutorials so you lot know how to apply the app. There's also an online assist center if you lot accept any questions.

Y'all will log into the app and click the "Go" button, and the app starts looking for requests from riders in your area. The app pings when there's a request, and yous tin can see the destination and estimated fare upfront.

Drivers tin accept or decline fares, and you desire to accept them as quickly as possible. If you lot don't, the fare will get to some other driver, and it counts as if you lot declined the ride. Uber rewards drivers who have more fares — it's how you earn certain incentives that increase your pay.

The Uber driver app tells y'all exactly where to get, but you can take directions from the rider if you want.

Once the ride is over, the passenger can add a tip if they desire, and they'll rate you. Uber didn't always encourage tips, just they do at present, and Uber drivers keep 100% of tips.

Driving for Lyft

Lyft gives drivers a digital Lyft Commuter Guidebook to start that includes many tutorials to help them become started. The tutorials walk y'all through key parts of using the app so yous feel comfortable starting to drive. Some tutorials are mandatory and others are only suggested.

When you're ready, log into the app, and yous'll get a ping with the passenger's picture show and star rating. Similar Uber, you tin accept or decline. But Lyft volition contact you with a warning if yous decline too 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 you're struggling to find them or have any issues with the selection-upward location.

After picking upwards the rider, you'll demand to verify that by clicking or swiping in the app. From there, the app will pull up directions to their destination.

Yous will have to end the ride in the app once the rider is dropped off. They can add a tip and volition rate you in the app. You'll besides need to rate your rider. Lyft drivers besides keep 100% of their tips.

Incentives, bonuses, and rewards for Uber and Lyft

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

Lyft driver promotions

Lyft has existent-time and scheduled bonuses. Real-time bonuses pop upward all of a sudden in the driver app because there's a sudden high demand. Scheduled incentives appear in the app at the first of the calendar week, and they can help you plan your hours.

Hither are Lyft'due south driver bonuses:

Personal Power Zone: These appear in the app when more passengers are available than drivers in your specific location. These pay a apartment rate bonus per ride, similar $1.50 to $3.50+. Sometimes they happen in real-time, but Lyft may schedule them before large events.
Ride Streaks: This is a multiple-ride bonus you tin can earn for accepting back-to-back ride during busy hours. Ride Streaks are scheduled during weekday commute hours and decorated holidays like New year's day's Eve. St. Patrick's Twenty-four hours, and Halloween, for example.
Earnings Guarantee: If you can commit to completing a sure number of rides in a set up amount of time, Lyft will guarantee a dollar amount for your pay. Lyft covers the deviation 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 inside a gear up timeframe. New Ride Challenges are put in the app every Monday, and they might exist something similar "Complete 10 rides between Monday and Fri to earn an extra $25."

Lyft besides has a three-tiered rewards program that incentivizes drivers to drive during busy hours and keep their ratings loftier. The highest level, Platinum, comes with gratis 24/7 roadside aid from Allstate and free Self-Employed TurboTax.

Uber driver promotions

Overall, Uber has fewer driver promotions than Lyft, merely the ones they offering can boost your overall pay. Uber bases its promotions on market place factors like rider need and driver availability.

Here are Uber's commuter bonuses:

Consecutive Trips: This promotion pays drivers an extra dollar for completing a fix number of sequent trips during decorated times of the twenty-four hours. For example, you might earn an extra $15 for completing four trips in a row during rush hour traffic.
Quest: The Quest Promotion is when yous complete a certain number of trips over multiple days. This could be something similar an additional $75 for completing 25 trips over three days.

And then in that location is Uber Pro, which is a rewards programme 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-month period.

Uber Pro comes with perks like 5% greenbacks dorsum at gas stations with your Uber Visa Debit Menu, discounts on auto maintenance, and free dent repairs. The coolest reward is that you can receive 100% costless higher tuition for Arizona State University's online caste program, which extends to your family as well.

Is it better to bulldoze for Uber or Lyft?

Uber and Lyft are both legit ways to brand extra money, and they tin can be a solid side hustle for many people. Uber drivers typically make a little more than on average, approximately $2 an hour more. But Lyft offers drivers more promotions, which only increase their earnings.

The reality is that you don't have to pick ane — you tin drive for both Uber and Lyft and many drivers do.

Drivers who work for both companies will go on both apps, sometimes on two separate phones, and take the rides with the best fares. The danger is that not accepting rides can hurt your ratings, and both Uber and Lyft take programs that reward drivers with loftier ratings.

You lot tin endeavor out both and see if one service is more than popular in your area, and you can too come across if the ratings reward programs are worth it or not. Some drivers may discover that going with the college fare is a improve choice financially.

FAQs

Tin can you drive for both Uber and Lyft?

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Yes, and many drivers practice this to increase their chances of earning. Many drivers even keep both apps open at the aforementioned time to make sure they're available for as many rides equally possible.

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

What if y'all don't have a car and even so desire to bulldoze?

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One option is to rent a car from a HyreCar, which is a peer-to-peer auto rental platform where people can rent out their automobile to rideshare and food delivery drivers. HyreCar costs around $24-$forty/twenty-four hour period.

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

Having the choice to hire is dandy, but it will seriously eat into your take dwelling house pay, so I would exist wary of renting on a full-fourth dimension footing. HyreCar and Uber's Vehicle Marketplace are better options if something happens to your auto and yous desire to keep driving while it's fixed.

Exercise I need special insurance to drive with Uber and Lyft?

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Yes and no. Uber and Lyft take special rideshare insurance that covers y'all while you lot have the app on and yous're waiting for a fare, merely it's liability only. Once a rider is in your auto, y'all'll also be covered by comprehensive and collision insurance.

But, your motorcar insurance company is unlikely to comprehend you lot during that commencement stage, and they may fifty-fifty cancel your policy if they find out y'all're driving for coin. This is why special rideshare insurance is recommended.

GEICO, Allstate, Progressive, and State Farm are a few of the insurance companies offering rideshare-specific coverage. Y'all can expect to pay around $xv/calendar month for coverage.

Nearly Millennial Money Human

Bobby Hoyt is a former band managing director who paid off $twoscore,000 of educatee loan debt in 18 months on his instruction salary and and then left his job to run Millennial Money Man full-fourth dimension. He helps other Millennials earn more through side hustles, save more through budgeting tools and apps, and pay off debt. He is a personal finance proficient who has been seen on Forbes, Reuters, MarketWatch, CNBC, International Business organization Times, Business Insider, United states 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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