There aren’t a lot of requirements to become an Uber driver, but one thing that holds a lot of people back is an eligible vehicle. In most cities, Uber requires a 2001 or newer 4 door sedan in order to drive on UberX while Lyft requires a 2004 or newer vehicle.
But for those without an eligible vehicle or even a vehicle at all, there are a whole host of options available: everything from buying and leasing programs to daily and hourly rentals. As Uber has exploded in popularity, so have these vehicle start-ups, and many of them are specifically tailored to a rideshare driver’s needs.
Here are some of the most popular options for drivers:
Select an Option
Uber Xchange Leasing
Uber’s Xchange Leasing costs around $120-$180/week, and unlike a regular lease, it includes unlimited mileage and free maintenance. The average full-time rideshare driver will put around 1,000 miles per week on their car, so a traditional lease is NOT a good option. Uber’s Xchange Lease is more money than a regular lease but there are no mileage caps and it’s extremely flexible. You have to keep the car for at least a month, but after that you’re able to get out of the lease for any reason with just two weeks’ notice and a $250 fee. Also keep in mind you will need to purchase rideshare insurance, which can range anywhere from $75-$150/month depending on your driving history.
If you’re a new driver, you’ll need to apply to drive with Uber here, then you can apply for the Xchange Leasing Program. If you’re an existing driver, you can find Xchange Leasing under the Vehicle Solutions tab on your partner dashboard.
You can read more about the Xchange Leasing process here. If you’re looking for a dealership in your area, make sure that you shop around before settling on a car. This is a new program and we’ve heard less than stellar reviews from many of our readers when dealing with dealerships. If you have a dealership you’d like to recommend or you’re a dealership representative looking to advertise with us, please contact me.
Which Markets is Xchange Leasing Active in? (updated as of 1/26/2017)
Atlanta, Baltimore, Boston, Chicago, Cincinnati, Cleveland, Columbus, Dallas, Washington DC, Greater MD, Houston, Jacksonville, Los Angeles, Miami, Minneapolis-St Paul, Nashville, Orange County, Orlando, Philadelphia, Pittsburgh, Sacramento, San Antonio, San Diego, San Francisco, Seattle, State College, Tacoma, and Tampa Bay
HyreCar is a vehicle rental market specifically designed for Uber, Lyft, and delivery drivers. It’s actually pretty cool because you can filter by price, model, and location to find what fits your needs best. You can rent a vehicle for as little as 2 days, and it is a great way to test the waters for Uber and Lyft if you want to give it a try without the hassle of car shopping.
HyreCar is unique in that if you already have a car, you can rent it out on their platform. This means if you want to take a few days or a week off as an Uber driver, you can still put your car to work for you without leaving your house. They have designed the process to be as quick and easy as possible for drivers to get on the road in as little as 24 hours.
A good strategy with HyreCar is that you can rent an UberXL or Uber Select when a big event comes to town. This allows flexibility in operating different Uber products. It is also very useful for when your car is in the shop.
You can sign up here: HyreCar
Uber Enterprise Rental Car Partnership
If you’re looking for a more flexible option than Xchange, Uber has teamed up with Enterprise to offer weekly rentals to drivers. The cost is a bit higher at $210/week, but insurance is included and the fee to get started is just $40. The minimum rental term is only 7 days and there is also unlimited mileage. This option wouldn’t make a lot of sense for a mid- to longer-term rental, but it’s a great option if your car is in the shop, you just want to test out driving for a week, or you only need a vehicle for the summer for example.
If you’re a new driver, you’ll need to apply to drive with Uber here and then you can get a car through the Uber Enterprise Partnership. If you’re an existing driver, you can go to a participating Enterprise dealership to sign up. Note: rental cars are only allowed in participating cities and must be applied for through Uber.
You can read more about the Uber Enterprise Rental Car Partnership here.
Hertz Rental Partnership With Uber and Lyft
Hertz offers weekly rentals for as little as $165/week plus tax. The rentals include unlimited mileage, maintenance, and insurance. You must be an approved driver for either company in order to qualify for the rental. Once you are a driver, rentals can be reserved a day in advance and must be renewed each week for up to 4 weeks. Here are additional details:
- $250 Deposit.
- No Credit Check.
- Roadside Assistance.
Lyft + Hertz Sign Up: Here
If you use Hertz through Lyft you will still be eligible for incentives like the Power Driver Bonus.
Uber Hertz Sign Up: Here
Lyft Express Drive
Lyft recently launched their own version of a rental program and it costs between $150 – $250/week + $0.25/mile if under 40 rides. You can rent a GM vehicle ranging from a Chevy Cruze to a GMC Terrain and the price varies based on the vehicle. If you do more than 45 rides, you only pay the weekly rental fee for the car. If you do more than 75 rides, it’s $0. So basically this program incentivizes you to do a lot of rides on Lyft, which isn’t necessarily a bad thing.
If you’re a new driver, you’ll need to apply to drive with Lyft here and then you can get a car through the Lyft Express Drive Program. If you’re an existing driver, you can contact Lyft in order to get signed up.
You can read more about Lyft Express Drive here.
Private Fleet Owner
Another option that drivers have is working for a private fleet owner. Fleet owners allow you to rent a vehicle on a per week basis, and they cover all of the maintenance and associated costs. All you’re responsible for is the weekly rental payment and gas. This setup is very prevalent in New York where UberX drivers are required to have commercial insurance and TLC licensing (only UberX market like this).
In other cities, many UberSelect and UberBlack drivers will rent their vehicles through a fleet owner. You can learn more about what it’s like to drive for a fleet owner here. If you have a fleet owner you’d like to recommend or you’re a fleet owner yourself looking to advertise with us, please contact me.
Recommended Fleet Owners in California
Turo is an online vehicle rental marketplace (similar to Airbnb) that connects car owners looking to rent out their personal vehicles with consumers looking to rent cars. So how does this benefit Uber drivers?
- List your car on Turo: One of the best ways to leverage your vehicle is to rent it out on Turo’s marketplace since then you can effectively earn passive income without having to drive.
- Rent a car from Turo: As an Uber driver, you can’t use one of these vehicles to drive for Uber/Lyft but you can rent a car from Turo and use it with many delivery services. Or you can also rent a car for your personal needs since the selection is much more diverse than your typical rental company.
Please click here to sign up with Turo.
Drivers, what do you think about all of the available leasing/rental options? What’s your experience been like?
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-Harry @ RSG
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