How To Buy Or Rent A Car For Uber Or Lyft
If you need to get a car to drive for Uber or Lyft, there are a number of available rental and purchase options.
Renting a Car for Uber or Lyft
Renting a car for Uber or Lyft is a great way to see if the job is for you, before going out and spending thousands of dollars on a car. So, if you want to drive Uber or Lyft but don’t have a car, try renting a car for a week from one of the programs below, and see how it goes.
The Uber and Lyft rental options below don’t require stellar credit, but usually require a refundable deposit.
Lyft partners with Hertz and GM Maven to rent cars through its Express Drive program. Uber partners with Hertz and Enterprise to offer rentals for Uber drivers.
Keep in mind, if you rent a car through Express Drive, you can only use the car for Lyft. Likewise, if you rent a car for Uber through Hertz or Enterprise, that vehicle can only be used to drive for Uber.
However, you can also rent a car through HyreCar, or through Maven Gig (a GM subsidiary). These rentals can be used to drive on both Uber and Lyft at the same time.
Renting A Car When Applying For Lyft Or Uber
Of course, to rent a car for rideshare driving, you must be signed up with either Lyft or Uber.
Luckily, both companies allow you to choose a rental car option during the application process.
Maven Gig (GM)
With Maven Gig you can reserve a car to drive for anyone, so you can shift seamlessly with the daily demand for ridesharing, food, package, and grocery delivery services. Low weekly rates for newer Chevrolet models include unlimited miles, maintenance, insurance (less the deductible), and OnStar roadside assistance.
If you’re interested in working with no fuel costs, Maven Gig offers the Chevrolet Bolt EV rental which includes free charging. Plus with no early return penalty, you can return the car any time after 7 days.
Maven Gig rentals start at $189 per week for compact vehicles. Sedans start at $209 per week, crossover SUV’s at $219 per week, and electric vehicles from $229 per week.
Maven Gig rentals are available in Detroit, San Diego, San Francisco, Los Angeles, Phoenix, Boston, and Washington, D.C.
Rent a car for Uber or Lyft by the day, week, or month!
HyreCar is a vehicle rental marketplace where you can rent a private vehicle to use on any rideshare or delivery service. You can rent a car for a day, a week, or a month. The owner of the car sets the rates and mileage limits. You can sign-up or browse vehicle listings here.
While Lyft and HyreCar have teamed up to offer cars pre-certified for ridesharing on Lyft, most vehicles are also approved for use on Uber, and other ridesharing platforms.
Because HyreCar rents by the day, it’s a good option if you are thinking of buying or leasing a vehicle since you can experiment with a number of different options. For example, if you’re considering a Lyft Premier vehicle purchase, you can rent a qualifying vehicle from HyreCar to see how profitable it would be.
Lyft Express Drive
Lyft partners with GM (Maven) and Hertz to offer weekly rentals of mid-size sedans and suvs. The rentals are generally between $150-$250 per week, but the rental fee is reduced to $25-$40 if you do a certain number of rides per week. The number of required rides varies by city.
If you rent a vehicle from Lyft, any rental fees are deducted from your weekly earnings. Also, you will not be eligible to use Express Pay, and personal miles are charged at a rate of $0.25 per mile. To rent a car through Lyft, apply to drive with Lyft here. Rental options will then appear under “vehicles” in your driver dashboard.
If you currently Drive With Lyft, be aware that if you rent a car through Express Drive, you will not be eligible for Lyft’s Power Driver bonuses.
Express Drive is currently available in Atlanta, Baltimore, Boston, Chicago, Dallas/Fort Worth, Denver, Las Vegas, Los Angeles, Miami, Nashville, Orange County, Phoenix, Portland, Sacramento, San Diego, San Francisco, San Jose, and Washington, D.C.
Uber Rental Car Options
In some markets, if you are signed up to drive for Uber, you can rent a car from Hertz. No credit check is required and the cost is $180 plus taxes and fees, and a $250 refundable deposit. Mileage is unlimited, Hertz insurance is included and you can rent the car for between 7 and 28 days.
Once you’ve signed up for Uber, you can rent a car from Hertz for Uber here. Alternatively, once you start your Uber driver application, you can choose to rent from Hertz or Enterprise (depending on your location) from within your Uber application.
Uber Enterprise Rentals
The Enterprise program is through Uber only. The cost is $215 per week, plus taxes and fees, a $40 startup fee your first week, and a $350 refundable deposit. Other than that, it’s basically the same as the Hertz program.
Purchasing a car for Uber or Lyft
If you’re looking to purchase a vehicle for Lyft or Uber, you have plenty of options. You can purchase a vehicle through Uber once you’ve signed up, or you can buy a vehicle on your own to use on Lyft, Uber, or any other ridesharing platform.
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The first decision you’ll have to make when purchasing a vehicle for Uber or Lyft is whether to buy a new or used car.
Everyone’s situation is different.
However, if you buy used, you can save a substantial amount of money. Also, if the vehicle is used, your depreciation expenses will be lower ongoing.
One key metric you want to consider is how much will the car cost to operate per mile. Here’s a handy calculator to help you determine that.
Uber Vehicle Discounts
Uber offers discounts for the following auto makers: Ford, GM, Chrysler, Hyundai, Toyota, Nissan, and Volkswagen. To be eligible for the discounts, you’ll first have to apply to drive with Uber here using our signup code. After that, you can find the vehicle purchase discount codes under “vehicle solutions” in your driver dashboard. The amount of the discounts vary and you may be able to get the same or better discounts negotiating on your own, or using a negotiating service like Carjojo.
Even if you purchase the vehicle using a discount from Uber, you can still use the car to drive for other services suchs as Lyft, Amazon Flex, or Instacart. If you want to finance a vehicle for Lyft or Uber, try one of the vehicle financing options below.
Car Loans for Uber & Lyft Drivers
If you’re looking to finance your vehicle purchase, it’s important to shop around to get the best rates. Below are a number of lenders who provide auto loans and financing. Many of them provide loans to get a car for Uber or Lyft even if you have bad credit.
My Auto Loan
Getting approved through myAutoloan.com saves you time and money. Application and loan processes are private, secure, and confidential. There are no fees. It’s free, fast, and easy. And there’s never an obligation to use one of their lenders or loans.
- Fill out their short and secure two minute offer form.
- They match you to their lenders – you get up to 4 offers.
- You receive an online certificate or check within 24 hours.
- Use your check to buy the car you want or use it to refinance your current loan.
PersonalLoans.com offers low interest personal loans for purchasing a car, as well as emergencies, debt consolidation, and home improvement. They utilize a comprehensive network of lenders and lending partners to offer wide ranges of funding, and give you the opportunity to be qualified for as much as $35,000.
The APR on a personal loan from their network of lenders and lending partners varies, with many providers offering rates from 5.99% to 35.99% and loan durations between 90 days and 72 months.
PersonalLoans.com offers three types of personal loans through thier network: peer-to-peer loans, personal installment loans and bank personal loans.
247 Auto Finance
247 Auto Finance specialize in connecting you with a lender for an auto loan even if you have less than perfect credit. If you have past credit problems their service provides real solutions allowing you to attain financing for a vehicle purchase.
Complete their quick and secure online form to access hundreds of dealerships and lenders across the USA in real-time to receive a decision in less than 24 hours. Their service is completely free and there are no obligations after you submit.
Upstart is a great startup that provides loans for starting a business.
Upstart provides personal loans from $1,000 to $50,000 for credit card refinancing, debt consolidation, large purchases and much more. After going through their secure and simple online application process, applicants can receive rates in just 2 minutes with funds available the next business day. Upstart takes into account your education and experience in addition to your credit score. Rates start at 5.67%.
First Choice Auto Loan
First Choice Auto Loan can help you get approved for a new or used auto loan in minutes regardless of your credit history. You can fill out their online application in less than five minutes. They will then shop your application across their dealer network and receive a credit or financing decision within the same day.
24/7 Installment Loans
247 Installment Loan can connect you with a lender network for loans of up to $35,000. You can submit your information and get a response in 90 seconds or less. Lender approval is provided in real-time. Once you are connected with a lending partner, you can finalize your loan agreement and receive the funds in your account.
Easy Auto Loan
Easy Auto Loan can connect you with a dealer and lender network to facilitate your vehicle purchase. Easy Auto Loan only works with partners who are experts in handling any credit situation. In most cases they are able to approve applications the same day. You could be driving your new car the next day.
Once you have chosen the best loan terms to fit your needs, you can purchase your vehicle. Whether you receive a loan pre-approval from a lender, or approval from a dealer, the process is the same. Select your vehicle and complete the transaction with no hassles.
Easy Auto Loan provides you access to quick easy funding for any credit situation.
Blue Trust Loans
Leasing a Car for Uber
Uber Xchange Leasing
On September 27, 2017 Uber announced they were shutting down the Uber Xchange leasing program. The reason was because the program was losing too much money – $9,000 per vehicle.
Leasing a car through Uber generally costs between $110-$200 per week, plus an initial $250 deposit. While this is higher than a regular lease, it includes unlimited mileage and basic maintenance (oil changes, tire rotations, and cabin air filter replacement only). The lease is also extremely flexible. After one month, you can get out of the lease for any reason by giving two weeks notice and paying $250. While you can lease new or used vehicles, I highly recommend leasing a new vehicle. The reason is that you then get a warranty, so if something breaks on the car that falls outside the definition of “basic maintenance”, it’s covered under the warranty. If you lease a used vehicle through Uber Xchange with 40,000 miles, and the transmission goes, and you have no warranty, you’re on the hook for the new transmission. Finally, if you lease or purchase a car through Uber Xchange, it’s not just a car for Uber. You can use the car for all ridesharing services. To lease a car through Uber, apply to drive with Uber here. You would then apply for the Xchange leasing program located under “vehicle solutions” in your driver dashboard.