Lyft

What: Lyft is a ride-sharing platform that allows drivers to make money by driving people and things (like meals) to their respective destinations

Estimated earnings: $15 – $25 per hour

Husl $core: $$$$

Where: National

Requirements: 

• Be at least 21 years old.
• Pass online DMV and background checks.
• An iPhone or Android smartphone.
• Meet your city’s vehicle age requirement
• Have at least four doors, not including jump doors.
• Offer five to eight seats, including the driver’s.
• Have a US driver’s license for at least one year.
• Provide proof of insurance and (in most cities) a car inspection.
• Submit a photo of yourself.

Review:

As the second-largest ride sharing app in the country, Lyft tries a little harder, offering its new drivers substantial bonuses if they meet certain criteria, such as accepting 90% of rides offered or working during peak periods. Like Uber, you get the rider fees, minus commissions. Lyft reserves the right to change its commission schedule at any time. (Yes, that sucks.) Web comparison site Comparakeet ranks Lyft the best of 12 driving apps; Industry leader Uber comes in second.

The downside, which pertains to almost all driving/delivery jobs, is that you are using your own car, paying for gas and racking up a lot of wear and tear. And there is no guarantee that riders are going to want to book when you want to drive.

For whatever it’s worth, the IRS allows you to take tax deductions for all of your costs — from the water you buy for passengers, to the cost of business cards and the gas to fill up your car. However, when you factor those costs into your hourly pay, the wages are much lower than advertised.

Other apps we’d recommend: Amazon Flex and Wingz.

What Lyft drivers say:

“This job is great because it accommodates a busy schedule. I can work when I need. It also has great pay during peak hours in peak locations. However when I don’t work during peak times in peak locations, the pay can be quite poor, once you consider gas costs and phone bills.”

“It’s great when you get to make your own schedule, the only bad thing is the gas, miles, and the effort for little pay at times. especially when I drive 4 miles to give someone a ride, and the ride was only $3.50.”

“Lyft pays their drivers terrible. They are constantly lowering their prices and railing their drivers in one way or another. This job is terrible if you are looking at it as a serious source of employment. Because it is so terrible, Lyft’s primary business strategy is to hire as many drivers as possible because the turnover is so high. The net result of that is that the market is completely saturated with drivers. It isn’t uncommon (as far as my experience goes) to sit around for extended periods of time with absolutely no work at all. I worked in Los Angeles, and there were many days where I would work for 8 or 9 hours and make 30 dollars or less. Combined with the costs of insurance, gas, car payments, you are honestly lucky if you break even (in my case.)I know there are people who make a living with Lyft and they do alright, but that certainly wasn’t me. Advice: If there is some kind of promotion like 500 dollars for signing up and doing 100 rides, or whatever it might be, do it. Knock out the rides and get your sign on bonus. Chances are it is the most money you will ever make driving for Lyft.”

“Lyft is a great job if you like being independent and setting your own schedule. However to make a decent amount of money you basically have to live in your car. You have to work 50 plus hours a week to be able to make at least 100 dollars a day.”

Other stories of interest:

Survey of 10 Black Car Drivers: Uber or Lyft?

YouTube’s 7 Reasons I Stopped Driving for Lyft & Uber

Try Lyft