Enter your search term

Search by title or post keyword

Lyft Leasing Program: What It Is, How Much It Costs & More

With Lyft, you don’t need to own a car to work in ridesharing. Explore vital aspects of the Lyft leasing program, like its cost and criteria.

This post may contain affiliate links - which means we may receive compensation from purchases made through links on this site. Learn more ›

In 2016, Lyft launched a groundbreaking initiative that came to be known as Express Drive.

This program allows you to kickstart a career in ride-sharing even if you don’t own a car. It provides easy access to leased vehicles with flexible pricing plans.

To join Express Drive, you’ll need to meet specific requirements, submit a refundable deposit, and pay weekly rental fees.

We’re about to delve deeper into the program and provide insights to help you decide whether it’s a good fit for you and your needs.

What Is Lyft Express Drive?

“No Car? No Problem” is the slogan for Lyft’s Express Drive program, which we believe speaks for itself.

Once you become a Lyft driver, you can either use your car to rideshare or rent a vehicle through the app instead.

The good news is that their rental service won’t tie you down with a long-term lease; so you can return the car whenever you want after seven days since the pick-up.

Vehicles available in this program are provided by Lyft’s partners Hertz and Flexdrive. This means that you won’t have to worry about getting outdated, lousy cars.

Both providers offer a wide range of car types, including hybrid and electric vehicles from 2018 and newer.

However, it’s vital to note that cars are only available on a first-come, first-served basis. That’s why we recommend that, if there’s a car in the selection that you have your eyes on, you should act quickly before someone else does.

Another cool aspect of the Express Program is being able to choose unlimited mileage.

This gives you the ultimate freedom to use the rental vehicle whenever you want outside of Lyft’s working hours — you can use it to run personal errands, go on road trips, etc.

But be careful: you must complete at least 20 Lyft rides per week for your eligibility to be renewed in the following week.

Lyft Express Drive Eligibility Requirements

To get accepted into the Express Drive program, you’ll need to tick three boxes. The first is to meet their age requirement, which is 25 years or older.

The second requirement is to be in a region where this program is available. Lyft Express only operates in select cities in the U.S. You’ll find that some cities use Hertz leasing vehicles for the program, while others have Flexdrive. There are, however, a few areas where both suppliers are available.

Now comes the third and the most critical phase, which is meeting Lyft’s driver eligibility requirements. Some of these criteria will differ depending on the city or state where you live.

However, passing background and DMV checks are two elements in the application that remain constant.

All soon-to-be Lyft drivers are also required to complete the Community Safety Education program, which is in collaboration with RAINN.

This course mainly teaches you the proper way to engage with Lyft riders and how to gracefully handle challenging scenarios.

Once you’ve got your ducks in a row and met these requirements, you can apply to rent a car through Express Drive using this link.

How Much Does It Cost to Rent a Car With Lyft?

When renting a vehicle with Lyft Express, you’ll encounter two types of charges:

Refundable Rental Deposit

Once you confirm your car reservation, you’ll be required to put down a refundable rental deposit. The deposit amount can range anywhere from $50 to $700. This depends on several variables, such as the car model and pricing plan you choose, as well as your location.

When you decide to call it quits on your Lyft Express career, they’ll refund your rental deposit within two to three weeks of you returning the vehicle. If there are any outstanding charges on your lease, you may only receive a portion of your deposit, as they’ll use the rest to cover them.

Weekly Rental Fees

To make it easier to get started with their Express Drive program, Lyft will charge you a weekly fee for the rental, rather than asking for a large upfront payment.

The platform will deduct this amount every Monday from your total earnings, which include your tips and bonuses.

If your earnings happen to not be enough to cover this weekly fee, Lyft will bill the credit/debit card you added when signing up for the lease.

Lyft’s hefty weekly charge is the biggest downside of this program. It varies based on several factors but often runs between $200 and $300, or even more.

Read More: How to Get a Free Car in 2024: 13 Ways to Get One

Insurance, Repairs, and Maintenance

All Lyft Express Drive pricing plans include insurance, repairs, standard maintenance, and roadside assistance. You may notice minor differences in each aspect depending on whether you rent from Hertz or Flexdrive.

When it comes to insurance, both suppliers categorize accidents according to the time of occurrence.

For example, if a Lyft driver is involved in an accident while off duty, Hertz’s coverage for auto physical damage is limited to $50,000. However, if it happened during a Lyft ride, the coverage will include the vehicle’s actual cash value or repair expenses, whichever is lower. Both scenarios come with a $1,000 deductible.

As for the routine maintenance, you’ll get notified when it’s due on your driver app or email. Keep in mind that you must report for duty and get your car serviced, or you won’t get renewed in the program.

It’s also important to note that standard maintenance is only free of charge at approved vendors. If you go to a location that’s not approved by the supplier, Hertz, or Flexdrive, you won’t get compensated.

Finally, if you require repairs or roadside assistance, they’ll only be offered for free if the car supplier determines that the incident wasn’t your fault.

Is Renting a Car Through Lyft Worth It?

The answer to that question relies heavily on why you want to rent a vehicle in the first place.

If your goal is to drive with Lyft full-time and you don’t own a vehicle, joining this program is certainly your best bet. The same goes if you do have a car but want to protect it from the wear and tear associated with the job.

That’s because driving full-time will allow you to cover your weekly rental fees while also making extra money for yourself.

On the other hand, if you were thinking of driving for Lyft as a side gig, this rental program won’t be worthwhile. The lease charges are quite high, so your chances of turning a profit will be slim.  

Frequently Asked Questions

Why Didn’t I Get My Deposit Back After Returning the Rental Car?

After you return your rental car, it can take up to three weeks to recover your deposit. You should also note that if you have outstanding bills totaling the deposit amount, you won’t get it back.

If you have no lingering charges and it’s been over three weeks since the return, contact Lyft’s driver support.

How Do I Check the Status of My Refundable Deposit?

To get all the information you need about the refundable deposit you paid with Lyft Express, open your driver app and then tap on “Vehicles and Devices.”

After that, click on “Your Vehicles,” then “See details,” where you’ll find the “Rental deposit” tab.

Does Lyft Provide Long-Term Leases?

No, Lyft doesn’t offer any long-term rentals at the moment. Still, there are plenty of other companies that do. Our top choices include Budget, Hertz, and Enterprise.

Final Thoughts

All things considered, we believe that the Express Drive initiative presents a fantastic opportunity for people to earn money from ridesharing, without having to pay a fortune on a new vehicle.

That said, renting a car through Lyft’s Express Drive program isn’t the answer for everyone. As you saw in this article, their rental charges aren’t exactly a steal of a deal.

That’s why it can only be deemed profitable if you’re willing to work full-time.

Leave a Comment

FRH Article Default
  • App-based-gig

What Was Lyft Lux & How Did It Work?

January 24, 2024
5 min read
FRH Article Default
  • App-based-gig

16 Lyft Driver Tips To Make You A Better Driver In 2023

August 25, 2022
9 min read
Lyft amp: a smiling driver
  • App-based-gig

What Is Lyft Amp, and How Can Lyft Drivers Get One?

July 19, 2019
9 min read

Explore More within Gigworker

Other App-Based Gigs
Get to work faster with jobs in the gig worker industry.
post explore

Browse Our Gig Headquarters

The gig economy is booming, and thanks to COVID-19, more people than ever are getting involved. But what is this new sharing economy and how does it work?

Important Gig Economy #Fundamentals to Understand

gigworker logo icon
What is the Gig Economy?

Side Hustle Ideas

Get inspired with our list of 750+ side hustles. Sort by category, rating, and other custom taxonomies.

Browse Side Hustles

Gig Companies

Browse our complete list of gig economy companies, and the gigs they’re hiring for.

Browse Gig Companies

Helpful Content

Read thousands of informative posts, written specifically to help you excel in your favorite gigs.

VIP Membership

Unlock access to VIP-only benefits like content, downloadable, and resources – all ad-free.