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Are you interested in driving for Uber and Lyft, but don’t own your own vehicle and aren’t sure if you want to buy a car just for rideshare driving? DriveitAway is a dealer-based shared mobility service that offers rent to own options on a variety of vehicles for rideshare drivers. RSG contributor Chonce Maddox-Rhea reviews DriveItAway and how its rent to own program works for drivers.
Quick summary:
- DriveItAway is a dealer-based shared mobility option, partners only with licensed local car dealers all over the country
- Offers a rent to own program for Uber and Lyft drivers
- Rideshare insurance is included on all DriveItAway vehicles
- Looking for more vehicle options? Check out our vehicle marketplace here
Whether you rent a vehicle for rideshare driving or own a car, both options can wind up being pretty expensive. DriveItAway is working to bridge the gap between the 40% of rideshare driver applicants who don’t own an adequate vehicle to work with.
Traditionally, when you rent or lease a vehicle, you’ll have the convenience of not having to do as much maintenance. However you won’t get any closer to lowering your bill or owning your own car in the future.
If you’re looking to rideshare but don’t have a car or would like to replace and upgrade your existing vehicle in the near future, DriveItAway could be a helpful solution. Here’s what you need to know
What is DriveItAway?
DriveItAway is a dealer-based shared mobility option that partners only with licensed local car dealers all over the country. These dealers list vehicles on their platform to allow anyone to buy a vehicle by renting it first. This is possible regardless of credit.
There is no contract or obligation to buy your rental vehicle. However, if you do, your rental fees go to building your own down payment.
DriveItAway allows you to use your vehicle to work for Uber or Lyft. In addition, you can also use your DriveitAway vehicle for personal use, too.
The best thing about this company is there are no requirements, hidden obligations, or sign-up fees. If you are approved to drive for a rideshare company, DriveItAway doesn’t even require any other background or DMV check.
How Does DriveItAway Work for Drivers?
After you are approved to start rideshare driving, you can choose DriveItAway to help get a vehicle. With DriveItAway, drivers can rent to own their dream car with ease. You’ll go to a local dealer partner, choose a vehicle, and pay a daily rental rate.
DriveItAway also provides a way for drivers to get on the road even with bad or no credit. Not only can you get a car, but you will also receive four months of free credit repair if needed. This is made possible through their partnership with Get Credit Healthy (a company that offers credit repair and remediation resources through a network of non-profit professionals).
The rental will also offer rideshare insurance for the entirety of the rental, which provides peace of mind to uninsured drivers.
While the goal for most drivers who choose this option is to eventually own the vehicle, it’s up to you to decide whether you want to rent to own or just lease long term to be able to work. The program in place for drivers is either called Lyft Your Down Payment or Drive for Your Down Payment, depending on which one you go with.
Where is DriveItAway Available?
There are dealerships across the nation that have DriveItAway affiliated dealerships. Currently, cars are available through DriveItAway in IN, TN, MS, PA, NJ and CT. DriveItAway is coming soon in GA, MI, TX and CA.
How to Get Started
You’ll need to download the DriveItAway app, create an account and share your basic information to get started. To become a member, you’ll need your:
- Driver’s license
- Driving history
- A valid credit card
Choose whether you want to do the ‘Lyft Your Down Payment’ or ‘Drive For Your Down Payment’ program and head to a DriveItAway authorized car dealership to see a specialist (you can find one in the app).
The specialist will help you find and select the vehicle you want, and you’ll know the payment upfront. The payment includes insurance, maintenance, and roadside assistance.
If you prefer to just reserve a rental vehicle, you can typically do that in the app without having to talk to anyone.
FAQ
Can You Drive For All Rideshare and Delivery Companies with DriveItAway?
DriveItAway is currently limited to just Uber and Lyft drivers.
What Types of Cars are Available on the DriveItAway Platform?
The DriveItAway platform has hundreds of options to choose from. Whether you’re looking for a truck, car, SUV, or luxury vehicle, you can rent it for rideshare driving.
Drivers can browse by categories, like vehicle brand or even mileage-related, like cars with 15K or less. Remember, DriveItAway partners with local car dealers, so you have access to almost all the vehicle options they provide. Just remember, your car needs to be eligible for Uber or Lyft so be sure to keep their vehicle requirements in mind.
How Old Do You Have to Be to Get Started with DriveItAway?
In order to get started with DriveItAway, you have to be at least 21-years-old.
How Much is the Average Monthly Payment?
After hearing about DriveItAway, I was interested to see what the average daily rate or monthly payment would be for a vehicle. While it sounds great to have costs like rideshare insurance and roadside assistance included, I wanted to see if this would also drive up the cost of the rental.
Unfortunately, DriveItAway is not yet available in most states. I did some digging and saw they posted rates on their Facebook page ranging from $32 to $47 per day for vehicles like a 2011 Mazda and a 2017 Hyundai Accent.
I imagine the rental fee or rent-to-own payment would also vary depending on the dealership’s rates and the type of vehicle, so this is just a ballpark rate.
One thing I do like is that you can rent for as little or as long as you want, so once you start rideshare driving, you can see what you need to earn each week in order for the rental fee to make sense financially.
What Happens If I Can’t Find a Car at a DriveItAway Affiliated Dealership?
Unfortunately, you won’t be able to use one of their cars until a dealership is available in your area. Only select states have affiliated dealerships, but things may change in the future.
Do You Really End Up Owning a Car After Using DriveItAway?
Yes, it’s possible. Drivers get to select a vehicle and agree on an acceptable rate to pay to own the car. DriveItAway allows everyone to get a shot at a vehicle even with a bad credit history. Get Credit Healthy is a program option to help get your credit back on the right track.
Pros and Cons of Using DriveItAway
Pros
- Gives people who don’t own a car the option to drive for Uber or Lyft
- Convenient mobile app
- Rent to own path to ownership
- Get Credit Healthy program
- All inclusive pricing (you only pay for gas)
- Deduct your rental fees on your taxes (As outlined here. You wouldn’t be able to do this with the payments for a traditional car loan)
- New drivers receive a “kick start” bonus
Cons
- Not available in every state
- Not all rideshare platforms are included along with food delivery apps
- Will have rental fee, but have a chance to be on road
Who is DriveItAway Best For?
DriveItAway is geared toward people who want to start driving for Uber or Lyft but may not have a vehicle. It allows drivers the opportunity to rent-to-own a new car even with bad credit.
If you are unable to finance a car or don’t want to spend a ton of money renting with no end in sight, DriveItAway could be a solid option to look into.
The only major downsides I see is that they aren’t available in most states, but I’m sure that will change soon as they are expanding.
Regardless of your choice, buying or renting a car for rideshare driving is a big decision. It’s important to run the numbers and carefully weigh the pros and cons before finalizing anything.
Drivers, would you be interested in a rent to own program with DriveItAway? If DriveItAway is available in your state, is it something you would look into?
-Chonce @ RSG
