It might be time to get behind the wheel if you want to get ahead on your bills. Driving for a rideshare service like Uber or Lyft can turn your vehicle into a money-making machine, either as a full-time gig or as a way to increase your earning potential on nights and weekends. Some drivers can earn up to as much as $30 an hour in more lucrative markets, though the typical rate tends to be more in the $21 to $25 range. That’s not a bad chunk of change when you consider the fact that you’re basically your own boss and can choose hours that fit your schedule, but it all depends on how seriously you take the job.
While making a healthy profit on any given night might seem like pure chance, a driver’s earnings depend on their rating. The more stars that appear next to your name on an app, the better chance you’ll have of landing a rewarding ride or gaining points through a rideshare company’s rewards program. From choosing the right vehicle, interacting with customers, stocking your ride, and understanding why a solid rating is so important, there are plenty of tips to remember when learning to be a good ride-share driver. Read on as we discuss a few ways to give your rideshare career a quick lift and start earning uber bucks.
Why Are Ratings Important?
There are many reasons to keep your driver rating as high as possible. The better your rating, the more likely you are to be chosen by a rider. When requesting a ride, customers can review some of a driver’s basic stats, including their name, vehicle type, and overall rating. Maintaining a solid rating can mean the difference between a profitable night and one spent twiddling your thumbs while waiting for rides to come through. Drivers who operate in more rural areas with less competition might be able to get away with an average rating, but if you’re operating in a big city, near an airport, or in a popular nightlife district, those stars can be worth their weight in gold.
Drivers are also incentivized to reach for the stars thanks to the rewards programs offered by rideshare services like Uber and Lyft. Both services employ a tiered rewards program that offers an expanding slate of perks, services, and even cash back at certain gas stations while you’re on the job. Take Uber’s Pro system, for example. To qualify for the rewards program, drivers must maintain a 4.85-star rating over a three-month period and log a cancellation rate below 4 percent. While it might seem like a high bar, it’s well worth it when you factor in some of the potential savings and opportunities.
An Uber driver who qualifies at the program’s Blue level will receive up to three percent cash back at certain gas stations, up to 25 percent off car maintenance, and a bonus for consecutive trips. At the Gold level, those percentages increase, and drivers get access to priority support, free 24/7 roadside assistance, and the ability to see trip lengths for longer rides that are in the same direction the passenger is currently traveling. The Platinum tier unlocks trip lengths for all trips and offers a three percent bonus on time and distance rates, while the Diamond Pro Rewards Platinum tier ups that number to six percent and throws in free dent repair and faster pickups at airports. Lyft’s reward program works much the same, with a tier-based system and escalating perks that range from early access to scheduled rides and premium airport pickups that could leave you flush with cash.
How to Choose the Right Vehicle
There are many factors to remember when choosing the right vehicle for your rideshare enterprise. These can be broken down into two categories: vehicle requirements set forth by the rideshare companies and other factors that can greatly impact your ability to turn a healthy profit. Let’s briefly explore each of these categories and discover what makes for a good rideshare vehicle.
Requirements
Vehicle requirements depend on the state you’re operating in, which company you drive for, and the specific service tier you hope to provide. For example, Uber’s premium UberBlack tier has stricter requirements than the basic service and could require drivers to make a larger upfront investment in their vehicle. Specific vehicle requirements can be found on Uber and Lyft’s website, but we’ve compiled a basic guide below.
Age: To qualify as a rideshare vehicle, a vehicle typically has to have been produced within the last 15 or 16 years, although UberBlack reduces this number to just six years.
Doors and Seats: To ensure every vehicle can safely and comfortably accommodate a full load of riders, it must have four doors and at least five seatbelts.
Condition: No one is eager to ride in a dingy jalopy covered in dents or plagued by stained upholstery. To deliver a consistent, clean riding experience, Uber and Lyft require a vehicle to be in good condition before accepting a ride. At the very least, this means all vehicles must have working air conditioning and windows and not include commercial branding, but the exact definition of “good” can be a little subjective. A vehicle that might pass muster an Uber ride might not meet the UberBlack standard, which requires vehicles to have a black exterior and black leather or vinyl seating with no tears.
Title and Inspection: All rideshare vehicles must be registered in their state and, if applicable, pass an annual or semi-annual inspection. Vehicles with salvaged, reconstructed, or rebuilt titles will also be rejected.
Other Factors To Consider
Fuel Economy: An efficient ride is key to making the most of your time on the road. While a full-size SUV might allow you to accommodate larger parties, a real gas-guzzler could cut into your profits and have you on a constant lookout for nearby gas stations. In fact, some studies suggest that a 10 MPG difference in fuel economy can account for an extra $1,000 in annual fuel costs. This is why hybrid and EV models are such a popular choice in the rideshare industry. Consider a vehicle that runs on regular gas rather than premium to save a few more bucks if you can.
Interior Space: The larger your vehicle, the more passengers and cargo you can fit. If you’re looking to develop a niche by driving for a specific service like UberX Share (formerly Uber Pool) or shuttling riders back and forth to the airport, you might want to find a vehicle that excels in cargo space and passenger seating.
Insurance: A posh ride might turn some heads and give your riders a glamorous experience, but it can also come with a hefty price tag when it comes time to pay your insurance premium. Before investing in a rideshare vehicle, do a little research on insurance rates. Cars, trucks, and SUVs with high reliability ratings and a full arsenal of safety and advanced driver assistance systems (ADAS) tend to be cheaper to insure, while pricier vehicles and sporty rides can cost you extra.
Reliability: A worker is only as good as their tools, and this maxim certainly applies to the rideshare industry. A reliable vehicle will keep you speeding around town late into those profitable last-call hours, while a less dependable ride could have you funneling all your profits into a local repair shop. Those looking for a trustworthy rideshare partner should stick to those brands that routinely top the reliability rankings. Lexus, Toyota, Acura, and Honda are all safe bets, with Subaru, Mazda, BMW, and Kia also placing in the top ten.
Amenities: Those little creature comforts can make all the difference when trying to land that coveted five-star rating. Dual-zone climate control systems, heated rear seats, USB ports, wireless charging pads, and even premium stereo systems can elevate any vehicle and improve the overall riding experience for your passengers. In addition to these vehicle-specific amenities, a rideshare driver should always have a few features and supplies on hand. These include:
- Air fresheners, though nothing too overpowering
- A first-aid kit including basics like Tums, Tylenol, and Pepto Bismol
- Mints, gum, candy, toothpicks, floss, bottled water, and small snacks, though beware of foodstuffs that might create a lot of crumbs
- Hand sanitizer
- USB cords to power devices, including USB-C, Lightning, and Micro-USB
- A cordless vacuum, napkins, cleaning wipes, or stain remover to freshen up the vehicle between rides
- A small trash can for the rear seats
- A lint roller
- A towel or disposable rain ponchos for wet days
- Paper bags for those passengers who get carsick or have had one too many during a big night out
- A stereo system with Bluetooth or an auxiliary cord connected to Spotify, Pandora, or other streaming music apps. The star-enhancing value of allowing customers to choose the perfect soundtrack for their ride can never be underestimated.
- Cash apps like Paypal and Venmo can allow riders who didn’t book their own trip to show their appreciation with an extra tip.
- A hanging organizer attached to the back of the front seats to hold all your goodies
Ridesharing allows you to turn your daily driver into a valuable side gig that can help to offset your monthly bills, save for retirement, or squirrel away a little cash for that next big vacation. That said, it’s still a business that must be approached with a professional attitude if you hope to make the most out of your time on the road. Packing your ride with the right amenities and maintaining a solid rating to qualify for lucrative rewards are all a part of the job, but so is having a friendly attitude, maintaining a clean ride, and picking the right times and places to ply your trade. Most importantly, you need to make sure to choose the right vehicle for the job. Personal taste will always factor into the decision, but if your vehicle is primarily used for ridesharing, consider those features and factors important to the average customer. With some hard work, the right vehicle, and a little luck, your rideshare career could set you on the road to financial stability.
