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How to Make Money as a Driver [Uber and Lyft Review]

Uber and Lyft review

If you have ever taken Uber or Lyft, then you’ve probably already noticed that the drivers come from all walks of life. Grad students. Marketing experts. Engineers. Artists. They’re all driving for Uber and Lyft to earn some extra income on the side without having to deal with the typical woes of a part time job. Want to join them and make money as an Uber or Lyft driver? If so, here’s everything you need to know about driving for Uber and Lyft.

Do you have your own car and a driver’s license? Do you want to make easy money on your own schedule? Then you should consider becoming a driver for Uber or Lyft. Drivers make good money and have flexible timings, making it an ideal way to earn extra income.

Uber and Lyft Review

What is Uber?

In case you have somehow missed the memo, Uber is a location-based app that allows you to hire a car and driver rather than hailing a cab. The app picks up your location and you enter your destination. Within minutes, a car and driver is there. Uber operates across the US and the world.

Can anyone become an Uber driver?

In order to maintain quality of the service they offer, Uber has requirements for its drivers, but if you’re a law-abiding adult, then you’ll probably qualify.

If you want to drive for Uber you must:

  • Have had a driver’s liscence for more than three years.
  • Be 21 or older
  • Pass a background check
  • Have a great driving record. This includes:
    • No reckless driving
    • Never having been stopped without a license or insurance
    • No fatal accients or accidents due to reckless driving

In addition to having your own personal qualifications, you must also own a car that is up to Uber’s standards. As an Uber driver, you will be driving your own car.

Your car must be:

  • A 2001 model or newer (a newer model may be required in your city)
  • Registered with in-state license plates
  • A 4-door sedan
  • Equipped with 4 or more seats, excluding the driver

I am qualified and so is my car. Now what?

To start driving as an Ubder drive you have to first:

  • Complete the online application form
  • Get your car inspected

Once your background check clears, and everything else goes through, you can start driving.

How much money will I make as an Uber driver?

You can expect to earn around $15-20/hour as an Uber driver. When it comes time to do your taxes, you can get tax deductions on your vehicle, vehicle repairs/maintenance, gasoline, and your car insurance because all of these things are required for you to perform your job.

Work When You Want

The biggest plus point about working with Uber is the fact that you get to choose your own schedule. You can drive when you want. Got an hour to kill while waiting for a friend? See if there are any riders looking for a quick drop off, and make a few extra bucks. Driving home from your job and want to see if anyone is nearby? Turn the app on and pick up a rider. You can drive for Uber when you want and as often as you want.

How often will I get paid?

Unlike most jobs that pay once a month or once every other week, Uber pays its drivers weekly. Your earnings are automatically deposited into your bank account.

Overall Uber is a great option to earn extra money primarily because you:

  • Can make a flexible schedule
  • Don’t have to worry about ‘office politics’
  • Can earn a great hourly wage

What is Lyft?

Lyft is a location-based app that allows people to find a driver near them. The car picks up the rider at his/her exact location and drops him/her at their destination.

Why do people drive for Lyft?

Some people drive for Lyft full time while others drive for Lyft only a few hours a week. The reasons people drive for Lyft vary from person to person, but here are a few reasons people might:

  • Get out of debt faster
  • Cover monthly bills
  • Earn added income to save
  • Freedom of not having to report to a boss
  • Flexible timings
  • Offset the costs of a car

To be eligible to drive for Lyft you must:

  • be 21 years of age or older
  • have an iPhone or Android phone that is reliable and has the data working
  • pass a background check
  • have a social security number
  • have an in-state license that has been valid for at least one year

In addition to these requirements, you must have your own car or regular access to one car that can will have to pass a vehicle inspection.

A Lyft car must be:

  • a 4-door sedan
  • in generally good shape
  • insured

Each state has different requirements concerning how old of a vehicle is eligible for Lyft. Please check their website for more information.

What are the benefits of driving with Lyft?

The biggest advantage to driving with Lyft is the shear flexibility. There aren’t many part-time gigs that allow you to decide on a whim to work a few hours, or to skip out on work if something important (or something just plain fun) pops up. If you’re bored on a Saturday night, you can do an impromptu driving session and earn $100. If you’re up early and don’t feel like going to yoga class, get in the car and earn some money. Lyft offers drivers the opportunity to make money whenever they feel like it.

Is it safe to drive for Lyft?

Lyft has a rating system that allows both passengers and drivers to rate each other. That helps to keep both parties accountable for their action. Driving for Lyft is no more or less dangerous than riding in Lyft or a cab – both things you’ve probably done before. While nothing in life is foolproof, Lyft has had very, very few incidents especially considering they operate across the US and the globe. With over 1 million rides happening a week in the US, the number of reported incidents Lyft drivers have encountered is extremely small.

How to make the most money on Lyft?

To make the most out of Lyft we have two suggestions:

  • Be extra hospitable to your passengers. Lyft allows passengers to give tips, and drivers keep 100% of those tips. Kindness goes a long way, and often can turn into dollar signs.
  • Work Peak Times. The price per ride goes up, and so does your pay. Working in peak times can increase your income by a lot.

Why is an insurance company writing about driving with Uber and Lyft?

That’s a great question with a very simple and straightforward answer.

TermLife2Go helps match people with the right life insurance policy. Term life insurance policies have pretty low premiums, yet still many people feel they don’t have enough cash to spare each month in order to get the insurance policy. We know that getting a basic life insurance policy is a financial security blanket for your family and loved ones, and we want to help you make it happen. That’s why we recommend easy ways to make money to help you cover those basic monthly premiums.

By working just a few hours a month as a Lyft or Uber driver, you will have enough money to pay the premium of an affordable life insurance policy. But we’re pretty sure you’ll like driving for Uber or Lyft so much, you’ll wind up making even more than that – all of which will be money right in your pocket!

 

 

 

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