Question 1

How are Lyft drivers paid?

Accepted Answer

Lyft pays drivers every Tuesday morning, and it typically takes about two days for money to hit your account. You can get paid even faster with Express Pay, which costs $0.50 to have money transferred to account anytime during the week.

Drivers who sign up for Lyft’s free debit card, Lyft Direct, have their earnings immediately sent to their debit card after completing a ride. The card comes with extra perks like no maintenance fees and cashback on gas, groceries, and dining.

Question 2

Can you make money with Lyft?

Accepted Answer

Yes! Lyft drivers make around $15-$25/hour before expenses, and you can expect to make $12-$20/hour after expenses. There are side hustles that pay better than Lyft, like starting a blog, freelance writing, and running Facebook ads.

Question 3

How much can you make a day with Lyft?

Accepted Answer

It’s not unrealistic to make $100/day or more driving for Lyft. Drivers who earn that much or more are typically driving for 5-8 hours a day.

Question 4

Does Uber or Lyft treat their drivers better?

Accepted Answer

Drivers for both companies are treated pretty equally, and remember you’re an independent contractor, not an employee. One factor you can use here is how much of a percentage do they each take from your pay, and Uber takes 25% while Lyft only takes 20%. Based on that alone, you could say that Lyft treats drivers better.

But we can’t forget that Lyft once made drivers put a giant pink mustache on the grill of their cars.

Question 5

What about the wear and tear on your car?

Accepted Answer

This is one of the major bummers about rideshare or food delivery driving — wear and tear is an expense you’ll incur. Drivers will need to change their oil more often, replace tires and brake pads more frequently, etc.

Fortunately, you can write off driving-related expenses on your taxes. You do this by tracking your mileage and then taking a mileage deduction. Everlance is a popular tool for rideshare drivers because it tracks your mileage and helps prepare tax reports.

Bobby Hoyt

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