Driving with Lyft is one of the ways to make money with your car. However, everyone who works for Lyft has to figure out when to work, where to work, how to be a good lyft driver and how to make the most money with Lyft.
What about the best places to drive Lyft, the best times to earn more lyft and how to increase the hourly rate? Here are 12 tips that will help all the small business owners make more money driving with Lyft, based on my experience and what I've learned from others.
If you know how Lyft works, you probably already know that prices and earnings in this business depend on demand and offer. When demand for rides increases or availability of drivers decreases prices will adjust to match demand. Right now, demand for ridesharing is picking up faster than availability of drivers and that results in higher prices and earnings especially in some parts of the country and at some times of the day.
How much you earn driving with rideshare companies will very much depend on where and when you are driving. Experience also matters a lot: as in any business, the more you drive the better you understand how demand evolves in your area.
That means frequent drivers can make hourly earnings that are twice as much as occasional drivers, because they know the time of the day and the places where supply of drivers will be low and customer demand will be high.
So, can you make $100 a day with Lyft? Yes. You can even make it on a ride. One driver recently told me he earned just below $150 with Lyft for a 51 mile drive from a large airport at 1am in addition to a $46 tip (this was a 2 and a half hours drive including his way to the airport).
Driving for Lyft, you do not need to schedule in advance in work shifts, but you can increase your earnings driving during the peak hours and busiest times. The peak hours are the busy times when you can easily get more ride requests and increase your hourly wage, indeed, Lyft during the surge pricing, will add a percentage to your fare.
In the Lyft and Uber platform the demand for trips varies based on location and time.
However the best hours to drive for lyft are:
To find the peak hours in your area you can check your Lyft driver App.
Lyft does not pay a salary to their drivers. Lyf drivers have a 'per ride pay'. It's really important that you learn how to find the busiest areas, most profitable areas to drive and the most profitable times to drive to increase your chance to receive a ride request and to get lyft customers.
The best way to get lyft passengers is to stay close to the hotspots in your city.
Just a few smart tips to boost your Lyft driver earnings that you didn't know until you had already read our article :)
Do you think you have to be an artist to be creative? You can also be creative in a non-creative job like a lyft driver. Being more creative you will see your productivity increase and you will find new ways to make more money.
A common question is who pays more: Uber or Lyft. Our answer is: Drive for Uber and Lyft at the same time and choose the best paying driving app. The application process to become a Uber or Lyft driver is free.
From all the Lyft driver secrets and rideshare strategies this is another that will help you make sure that you’re successful. Did you know, for example, that you can login in your Lyft rider App to check if there are too many drivers around you? If you're not receiving trip requests it can be a problem of the Lyft driver App, or probably you are in an area with too many drivers.
Working for Uber and Lyft is one of the tips to make more money.
The easiest way to increase your income is taking advantage of all the driver promotions. You probably already signed up with a Lyft driver referral code. To help drivers make extra money, Lyft streak bonuses to rideshare drivers during the rush hours.
They also offer incentives to ensure they have the right balance of drivers on the road based on the number of customers looking for rides.
Each city team determines the exact times and locations for incentives. The most common Lyft promotion for drivers are:
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We truly believe that humans are smarter than computers. Do not always follow the crowd. You know your city, you will find by yourself the hotspots and all the places where not to drive to avoid the traffic.
Of course, the Lyft App has a navigation system built with Google Maps. I'm a rideshare and delivery driver. I learned new things through experience. First of all: avoid driving in traffic, not only because it is really a nightmare, you waste time and gas, but also because it isn't worth it.
Lyft drivers are paid by the mile and not by the minute. Lyft and Uber drivers make less money in traffic. If you live in a big city where the traffic is horribly bad like Los Angeles, San Francisco or Chicago..., avoid traffic using the Waze App. Take a look at our comparison Waze vs Google Maps
So, how to save money on Lyft? Lyft drivers have to set aside money to pay taxes, but on the other hand you have access to a series of advantages that only independent contractors have. Business mileage is one of those business tax deductions that will help earn money while driving.
Take a look at this article and learn how to track your miles.
This is one of the side hustle where you will spend a lot of time on the road. Whether you are working part time or full time, Lyft does not pay for gas. However you can maximize your Lyft profit by finding cheap gas. You can use GetUpside App, one of the best gas cash back apps.
Experience is what matters most. Be sure you maintain a perfect rating since most apps will closely monitor driver ratings: some apps will offer the best drives to higher rated drivers first.Others might just cancel you from the app if your rating falls below a certain threshold. And remember both ridesharing and food delivery are people businesses: customer satisfaction always comes first. Small things matter and tips can make a big difference at the end of the day. Keeping your car clean does make a difference.
Related Article: How to Practice Driving
Drive safely and take care of your car. I know, everyday life can be very stressful and demanding, but these small things will help you make your car more efficient, keep it in good condition, delay big maintenance and then save money. Protect your investment and make it as safe as possible. Keeping your car in good condition can be as simple as checking fluids or tire pressure.
Suggestions and recommendations are meant to help you earn extra cash driving. Be nice and polite with the passengers, they can tip you at the end of the ride. Lyft has an in-app tipping option. It's really easy for the customer to give some tips to their driver.
So, how to get more tips with Lyft? You can for example help with luggages.
In addition, take care of yourself before you take care of others. And here are some tips to help you do it.
It is definitely worth doing both because demand for ridesharing and food delivery vary depending on the time of the day and the day of the week. As we saw during Covid there can also be big swings in demand because of external causes. All in all, doing both will maximise your opportunities to work when you are available and to choose the most rewarding option at that specific time.
If you are an early bird or want to work at night, ridesharing will usually be a more rewarding option. There will typically be less demand from customers at night or very early in the morning but definitely less competition and you will typically get longer and more rewarding rides. Just be sure you avoid unsafe areas!
Demand for food delivery is much more concentrated around lunch and diner time, even if breakfast delivery is becoming increasingly popular. In these hours delivering food will be the right way of making money.
You can sign up for Lyft delivery if the option is available in your market.
Related Article: How To Make More Money With DoorDash
Auto insurance is one of the biggest expenses for rideshare drivers and of course you must be fully covered. But take a look at our guide and learn how to find a cheap business car insurance.
Maximizing money is not so complicated with Lyft, which is one of the best paying ridesharing apps. So, being a lyft driver is worth it. If you follow our money increase tips you can even make $200 a day with Lyft.
Set up your Lyft Account and start to earn money