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What Is Hyrecar? Features, Pricing & How It Works In 2024

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Key Takeaways

  • HyreCar connects gig workers with car owners, optimizing car use and enabling earnings.
  • Offers flexible rental options tailored for Uber and Lyft, with pre-approved vehicles for quick start.
  • Includes comprehensive insurance coverage, safeguarding both drivers and car owners during rentals.
  • Facilitates passive income for car owners, while providing gig workers access to rideshare-compatible vehicles.

What is HyreCar?

HyreCar is a peer-to-peer car rental platform specifically tailored for gig economy workers, particularly those driving for rideshare services like Uber and Lyft.

This app-based service streamlines the process of renting a vehicle by directly connecting drivers with car owners, eliminating the need for traditional rental agencies.

It’s an ideal solution for gig workers who need a reliable car that meets the specific requirements of rideshare companies. Additionally, HyreCar benefits car owners by allowing them to earn passive income from their idle vehicles, with the assurance that drivers are thoroughly vetted and background-checked.

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How HyreCar Works

HyreCar operates as a bridge between vehicle owners and rideshare drivers. Owners list their cars on the HyreCar platform, where they can set their own rental prices. Rideshare drivers, in need of a vehicle, browse through these listings and rent a car for their desired period.

A significant advantage of HyreCar is that most of the listed vehicles have already passed inspections for Uber or Lyft, which simplifies the approval process for drivers. This feature enables drivers to start their gig work swiftly, often within 24 hours of renting a vehicle.

HyreCar handles all necessary insurance and documentation, ensuring that the vehicles meet the requirements of various rideshare companies. For vehicle owners, the process includes the ability to screen potential renters, giving them control over who rents their car.

Additionally, HyreCar’s integration with gig service apps, including a partnership with Uber, further eases the process for drivers, allowing them to seamlessly link their accounts and start earning through rideshare services without additional setup.

How Much Does HyreCar Cost?

HyreCar rental costs vary, with individual owners setting their own prices. Generally, the daily rate ranges from $25 to $40, depending on location. Longer rentals often come with discounts, averaging around $200 per week.

To give you an idea of pricing, we checked available vehicles in Chicago, Ill. The results came back a little more than we expected, but this gives you a basic idea of pricing.

Vehicle TypeCost Per DayCost Per WeekCost Per Month
2010 Hyundai Sante Fe$55$450$985
2015 Dodge Grand Caravan$55$399$1,299
2013 Ford Fiesta$55$320$1,200
2010 Toyota Prius$50$300$925

After looking at the prices, it’s clear that the best deal here appears to be the favorite among rideshare drivers: the Toyota Prius.

One cool thing about HyreCar pricing is that it includes a 100 percent refundable $200 deposit on first-time rentals.

This not only protects both parties involved, but the deposit will be returned to the renter once the vehicle is returned on time and in good condition.

HyreCar Insurance

According to the company’s website, “all vehicle rentals include approved insurance at a cost of $10 per day.”

The Hyre insurance policy appears to operate in a similar fashion to other TNC insurance, basically covering drivers when they are directly working for the rideshare company.

The diagram below shows that the coverage is most robust during Period 2 and Period 3, and offers basic liability protection during Periods 0 and 1.

What Is HyreCar? (and Why Uber & Lyft Drivers Should Consider It)

According to therideshareguy.com, if you were to get into an accident when using a rental HyreCar vehicle, this is what would happen:

HyreCar’s insurance policy is pretty similar to a standard rideshare insurance policy although the deductible may be a bit higher than what you’re used to. And remember if you get into an accident while you’re on a trip or en route to a passenger, you would go through the TNCs for coverage (Uber has a $1,000 deductible and Lyft has a $2,500 deductible).

For more information on the specifics of this insurance policy, check out HyreCar’s official website.

The Benefits of Using HyreCar

You might be wondering why you should use HyreCar as opposed to other car rental services or comparing HyreCar vs. Turo. HyreCar stands out for several reasons:

  1. Vetted Drivers: HyreCar conducts background checks and offers driver reviews, ensuring trustworthiness for car owners.
  2. Integration with Gig Apps: Drivers can link their HyreCar account to gig apps for seamless information sharing.
  3. 24/7 Customer Service: HyreCar offers round-the-clock support for drivers and owners.
  4. Transparent Reviews: The platform provides reviews of both drivers and cars for informed decisions.
  5. Flexible Insurance Plans: HyreCar’s insurance covers damages, refueling, and cleaning.
  6. Diverse Rental Options: From short two-day to monthly rentals, HyreCar caters to varying needs.

Getting Started With HyreCar

Here’s all the information you’ll need to rent or list your first vehicle with HyreCar:

Using HyreCar as a Driver

As a gig economy worker, using HyreCar is as easy as can be. Still, to sign up and start benefiting from all the services that the car rental platform has to offer, you need to keep a couple of things in mind.

First, you’ll need to pass a one-time background check before renting a car. Yet, if you’re already a driver for Uber, Lyft, or other rideshare and food delivery apps, HyreCar can verify your information if you link your accounts.

Once you pass the background check and pick a vehicle, you should receive three forms within 48 hours: insurance, registration, and inspection. These forms pertain to the vehicle, so you should upload them to your gig app for verification.

What Is HyreCar? (and Why Uber and Lyft Drivers Should Consider It)

You also need the following to become a driver on HyreCar:

  • Be over 21 years old
  • Have a valid driver’s license and social security number
  • Have at least one year of driving experience if you’re under 25 and three months if you’re over 25
  • Have a clean criminal record
  • Pass a motor vehicle check record

Using HyreCar as a Car Owner

Car owners can easily list their vehicles for free by writing a vehicle description, snapping a couple of photos of their car, and setting the price and mileage limits.

That said, car owners must fulfill the following for their vehicle to be eligible for rental on HyreCar platform:

  • The car must be newer than 15 years old.
  • The vehicle must have two or more doors for delivery services and four doors for ridesharing.
  • The owner should provide a valid vehicle registration.
  • The car title has to be valid.
  • A clean title is required.
  • For ridesharing, the car must meet Uber standards.

HyreCar Tips

  1. Use a credit card when renting a car with HyreCar. If you don’t use a credit card, you’ll get charged a $200 security deposit, making your rental much more expensive than it normally would be. This is refundable after a week of returning the car but can take longer than usual in some cases. This will leave you with $200 less in your pocket during that time.
  2. Select a vehicle at a location within 30 minutes of you. Picking up and dropping off a vehicle farther away than that can become a headache.
  3. Take many pictures of your vehicle before and after pickup and dropoff. This ensures vehicle owners cannot make a claim that you caused damage that you actually did not.

Wrapping Up

Whether you’re a gig economy driver or you have a car lying around, HyreCar is an excellent choice that can help you make extra income.

The simple application connects rideshare and delivery drivers with rental vehicles. This way, you can earn money even if you don’t own a car.

The best part is that HyreCar conducts background checks on drivers, and ensures that all cars listed pass rideshare services requirements. The company also provides exceptional rideshare insurance for both drivers and car owners.

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