Rideshare driving is a viable career for many people. You can set your hours and can make as little or as much as you want. Essentially, you get to be your own boss.
But what if you want to be a rideshare driver and don’t have a car? That can be problematic, as a car is the main requirement for the job.
Or what if you’re a rideshare driver, but your car is in the shop? You still need to earn an income.
You may have a car but have concerns about putting so much mileage on your personal vehicle.
A rideshare car rental may be the answer, but only if you earn enough to offset the rental payment.
Keep reading to figure out if rideshare car rentals are a good option for you.
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There isn’t a straight answer as to whether you can rent a car for rideshare driving.
Some rideshare platforms strictly forbid it, some don’t. You have to use the same car each time you drive and you have to have insurance for that specific car.
Other rideshare platforms allow you to rent a car, but there are a lot of rules and restrictions.
Most require you to rent from one of their partner companies, so you may be limited as to what you can rent.
It’s best to check with the rideshare company you use and the car rental company to see exactly what they require when it comes to renting a vehicle before deciding if renting a car is the best option for you.
If you already own a car or can purchase a car, it may not make sense to get a rental vehicle for driving.
You may wind up paying more in rental fees than you would on a monthly note for a car you finance. You may even be able to purchase a decent car outright if you save for a bit.
However, there are some times when renting a car is necessary. If your primary income is earned through ridesharing, then you have to have a car to complete your job.
1. If Your Car Is Getting Fixed
When your car is in the shop, it doesn’t do you much good. You won’t be able to work and you’ll miss out on income and tips.
If you make a significant portion of your income through rideshare driving, then it’s logical to rent a car.
You may want to calculate how much you make vs. how much money it’ll cost you to rent a car.
If the income outweighs the cost and you have no other way to make money, then it makes sense.
2. When You Don’t Have a Car
If you don’t have a car and you want to be a rideshare driver, then you’ll need to rent a car if it’s not possible for you to purchase one.
Again, you’ll need to figure up how much you can earn and weigh that with the cost of the rental.
If you’re coming out ahead and it meets the income you need for your budget, then it can be a good option.
Not all rideshare companies allow rideshare car rentals. You’ll need to check with a car rental company to see if they allow rideshare car rentals.
It’s best to be upfront about what you’re doing with a rental car, as you don’t want to invalidate the terms of your agreement.
HyreCar is a car rental company designed for rideshare drivers and works through car sharing.
They work with Uber and Lyft, but can also be used for any other delivery service.
When you sign up for the program, you can choose from available cars that owners have listed.
Once they do a background check and you’re approved, they’ll send you the documentation you need to upload to your rideshare app.
You’ll pick up your car from the owner and it’s yours to use for the time you’ve reserved.
HyreCar makes it easy to extend your time as well.
Hertz has a rideshare car rental partnership with Uber and Lyft.
You’re required to rent a car for at least seven days, but there are no long-term contracts.
You can rent a car indefinitely, but you’ll need to trade the car in every 28 days and start a new contract.
Hertz gives you rideshare insurance.
You also get unlimited miles and you can drive the car for personal use.
Avis has an exclusive partnership with Uber for rideshare car rentals with unlimited miles.
They won’t rent to you if you aren’t a registered Uber driver and are at least 25 years old.
Avis also requires that you have a valid credit card or debit card in your name.
When using a debit card, you’ll have to get a credit check before you can be approved.
Turo is another car sharing platform.
It works almost like Airbnb, but with cars.
You put in your location and the dates you need to rent and Turo will give you a list of the cars available in your area.
You’ll choose one and get it from the owner.
You’ll be asked what car insurance or coverage you’d prefer when you select your car.
Turo doesn’t have a specific program for rideshare drivers but you should be upfront with the owner about what you plan on doing.
Getaround is a car sharing service. Owners have cars placed in spots around town.
Renters get on the app, put in the location, and will then see all of the cars nearby.
Once you’ve paid the fee, you can use your phone to unlock the car.
Getaround does cover you with car insurance.
It has daily mileage limits, currently set at 200 miles per day.
You can go over, but you’ll have to pay an additional fee.
Getaround also requires a safe driver check before you can rent.
Zipcar is another platform made for rideshare drivers.
The platform is limited to Uber and Uber Eats, so it’s not a good option for those who drive for multiple companies.
Zipcar lets you rent cars by the hour, day, or week.
Your rental vehicle gets insurance and maintenance coverage.
You also get unlimited miles. Zipcar requires drivers to be 25 with at least one year of driving experience.
If you’re under 25, you can still rent, but you’ll need three years of experience.
7. RideShare Rental
RideShare Rental is a company that rents vehicles to drivers who work with Uber and Lyft.
It supports car sharing, and car owners understand that renters are rideshare drivers.
RideShare will do a safe driver check and ensure that you work with Uber or Lyft.
You can schedule a rental or choose an available car immediately.
When you meet with the owner, they’ll give you the required documentation to upload to Uber and Lyft, including car insurance information.
In some cases, it’s beneficial to rent a car, while, in other situations, you may lose money.
Carefully consider the pros and cons to see what’s best for you.
Pros of Renting a Car for Ridesharing
- It won’t put miles on your car
- You often aren’t required to do maintenance
- You usually don’t need insurance
- You can get unlimited miles
- It’s convenient to rent
Cons of Renting a Car for Ridesharing
- It may cost more than you make
- It may not be able to use multiple rideshare apps
- It won’t get the standard mileage deduction on your taxes
- Rentals aren’t available in all areas
Conclusion: Is Renting a Car for Ridesharing Worth It?
The best choice comes down to you and your unique situation.
In some cases, you may live somewhere that doesn’t have many rideshare rental options, so you’ll want to think about that before making your final decision.
You should take some time and calculate all of the costs of renting vs. using a car you own.
Factor in the wear and tear to your own vehicle and the loss of the standard mileage deduction and see if it makes sense to rent.
The costs for rideshare car rental can vary.
It’ll depend on what company you rent from and where you live.
When looking at the top rental companies, rideshare rentals cost anywhere from $40-$60 per day and between $200-$250 for weekly rentals.
Check specific companies and use your location to get the exact costs.
Do you still have some burning questions about rideshare car rental? We have answers!
Do You Need Insurance for Rideshare Car Rentals?
In most situations, you won’t need to have car insurance when renting for rideshare. The rental company or car owner provides coverage.
However, you may want to look into the specifics of the insurance coverage. Make sure you understand exactly what’s covered and what isn’t in the event of an accident.
Can You Use a Rental Car for Multiple Rideshare Apps?
There isn’t a clear answer to this question. It all comes down to who you rent from.
Some companies, like HyreCar, will let you use a rental car for any delivery service. Other services, like Avis, have a partnership with one or two delivery platforms and are exclusive with those companies.
If you drive for multiple companies, then you don’t want to rent from one of these companies.
If you only drive for one or two rideshare platforms, you’d benefit from looking into one of these rental companies.
They often offer extra benefits and may make it worth your while instead of going with a company that caters to everyone.
If you’re a rideshare driver or looking to take up rideshare driving, a rideshare rental car can be a good way for you to work, even if you don’t have a car.
It’s best not to make a rash decision and to research to figure out what’s best.
Take some time to figure out your average earnings and look into the rental companies we discussed above.
With that, you can figure out which company is your best option and if you’re better off renting instead of buying.