If you’ve been with the site for a while you know that I am a huge proponent of driving for multiple TNC’s. I myself drive for Lyft, Uber and Sidecar but I’m looking to add one more (Postmates anyone??). In my mind, there really aren’t any drawbacks either. Uber currently charges $10/week to use their phone but they’re slowly phasing in a new driver app for iPhone users and the Android version is set to be released this fall so that won’t be an issue for long.
I’ve actually gone over a month not driving for Lyft before and the only thing that happened to me was that I got deactivated from the Facebook lounge. As soon as I gave a ride though, I was back in. I think one of the coolest parts about driving for rideshare is that there is no minimum amount of hours you ever need to work. This is great for someone like me who has a busy personal/work schedule since there are definitely times where I can’t drive for weeks on end.
Diversify, Diversify, Diversify
I started off driving for Lyft as a way to diversify my income but I quickly realized that although the pay was great, it was not very stable. As we’ve seen over the past few months, driver pay is always changing (usually for the worse) so it makes sense to drive for whatever company is going to pay you the most. For me right now, that company is Uber. I’m getting more requests with Uber and much higher pay since I primarily drive during surge times.
Related Article: Do You Make More Money Driving With Uber Or Lyft?
But who knows what’s going to happen in the future? It’s possible that Lyft could take over in my area and start paying more, then I’ll switch to Lyft. I think it’s silly to hold too much loyalty with any one company because at the end of the day they are looking out for their bottom line, not yours. It’s in your best interest to diversify your rideshare income and plan for the worst, but hope for the best.
New Driver Bonuses are Going Away
This is just speculation on my part but it seems as if there are plenty of drivers out on the roads right now. Lyft and Uber both took part in a pretty aggressive campaign to recruit new drivers and each other’s drivers but I think we’re finally starting to reach an equilibrium point. Uber hasn’t offered sign-up bonuses for months for new drivers and Lyft’s new driver bonuses have slowly been deteriorating.
New Lyft Drivers Get Up to $250!
This past week, I actually noticed a huge drop in Lyft new driver sign-up bonuses across the board and many cities now offer no bonus at all. If you’re interested in driving for Lyft, I’d say now is the time to do it since these bonuses are likely to go down before they go up again.
Here’s a list of all the city by city bonuses as of 8/30/2014. If your city isn’t listed, it’s because they are not currently offering a bonus. I’m sure these numbers will change from time to time, so feel free to reach out to me if you want me to double check for you.
If you’d like to sign up to be a new Lyft driver you can do so here using my referral link. As you can see from the chart above, I’ll also get the same bonus as you so it’s a great way to support the site!
Drivers, what do you think about driving for more than one TNC? Is there any reason not to? Have you signed up with both Lyft and Uber yet?
Need a car to drive with Uber? Try FAIRCA drivers: Fair is the official vehicle partner for Uber and is a great option for drivers in need of an eligible rideshare vehicle. Click here to sign-up! Not a California driver? Fair has options nationwide, and you can sign up here and get $100 off the start-up fee when you use the code 'RSG100'.
-The Rideshare Guy
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