Last updated on August 6th, 2018 at 10:33 am
How To Buy Or Rent A Car For Uber Or Lyft
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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
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.
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
247 Auto Finance
First Choice Auto Loan
24/7 Installment Loans
Easy Auto Loan
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.