How Much Can You Make With Lyft? – Many people are curious about how much the drivers on a ride company since the kind of company are popular nowadays. There are many ways to make money with your car through the rideshare companies including Lyft.
Lyft is known as an application for transportation to get rides through a mobile phone and the company recruits people with their car to be a driver.
Due to the benefits and earnings, many people are attracted to join as a Lyft driver. The rumor said that you can get much money as a Lyft driver but how much can you make with Lyft? Here is the review.
How Does Lyft Calculate Fare?
Lyft comes with a various and interesting fare which causes the fluctuating earnings of each driver.
They are divided as follows:
Base Fare
It is the fare which based on the mentioned charge at the app that the passenger starts to ride.
Cost per Minute
It is the cost that you earn per minute where your ride starts in some area. The payment starts after you tap the arrive button.
Cost per Mile
It earns you per mile in the region where the ride starts.
Prime Time
Some ride fare also includes the Prime Time. It means as an extra charge during the rush hour, when there are not sufficient drivers for accommodating the ride requests.
The prime time example is 5 PM when most people leave the office and it reaches 25% Prime Time. Besides getting the extra charge from Lyft, the drivers usually get the tips from the customer.
Note:
The costs per mile and per minute are based on the city and the region where the ride was accomplished. Based on the agreement, the company takes 20% to 25% for the commission. The commission is taken from the base fare, cost per minute, cost per mile and any Prime Time bonus.
You can check the area and regional on the page app. Select the city and you will see the list of fees such as follows:
St. Louis, Missouri
- Base Fare: $1.50
- Cost Per Minute: $1.50
- Cost Per Mile: $1.26
You will get 20% – 25% off of the amount above. Based on the company data, some drivers earn more than $800 just for driving on Friday nights till weekends!
How Much Can You Make With Lyft?
Overall, Lyft does not specifically state how much drivers may earn per hour on the website. If you are a new driver, it might be hard for you to figure out the earnings you may get from the company.
Don’t worry, Lyft app provides a pay calculator which allows you to figure out how much you will earn in the area. Here is the example of the calculation in some different states with 7-hour riding per week.
- Chicago: Up to $168 per week ($24 an hour)
- Boston: Up to $168 per week ($24 an hour)
- New York: Up to $196 per week ($28 an hour)
- Seattle: Up to $161 per week ($23 an hour)
- San Francisco: Up to $189 per week ($27 an hour)
How To Earn More from Tips?
An extra way to get the more fee is by getting tips from the customers. How?
- First, being polite and friendly to the customers.
- Second, being punctual, especially on Prime Time.
- Learning the areas with high demand due to the special occasion through Yelp or Trip Advisor
We then can say that the high or low income of Lyft depends on how smart the driver can behave well and make some effort in earning money. People are always curious about how much you can make as a Lyft driver. Hopefully, the breakdown review above helps!
