Beginner's Guide to Lyft (Part II)

When it comes to delivery driving, knowing which apps are available is a crucial part of your decision about the ideal delivery apps for your needs. Fortunately, if this is something you've been looking for, our experts are on hand to help you find out a little more about how to get started with ridesharing with the Lyft app, including some key pointers to help you make more with your Lyft drives too.

If you haven't done so already, please make sure to check out our Beginner's Guide to Lyft (Part I) to ensure you have everything you need to ace your new ridesharing career.

HOW MUCH CAN YOU MAKE AS A LYFT RIDESHARE DRIVER?

Before you begin your new career as a Lyft driver, you may need to wait several weeks for your account to be approved. With this thought in mind, during this time, we recommend considering how much you could earn on Lyft as a rideshare driver and getting a better understanding of the platform as a whole, to help.

This will give you the knowledge and skills you need to ensure that your Lyft rideshare work remains profitable rather than leaving you operating at a loss (yes, it's absolutely possible). And don't forget ' Lyft can disqualify your application if you've had previous driving offenses!

Understanding the Lyft Pay Structure

Before you begin working with Lyft, it's first good to know how you'll be paid! There are several different metrics that play into the Lyft rideshare driver pay schedule, and these include the following points.

First, the main rate is based on the pay per minute and mile. The pay per mile is based on the trip's duration, up to a maximum trip duration. This is typically a set rate depending on the route to be taken to the rider's destination. Thereafter, the pay per minute is paid as an additional rate based on the amount of time the rider spends in the car with you. This ensures that hold-ups, slow traffic, and the like are all accounted for in your earnings. After all, nothing's more frustrating than getting stuck in traffic and finding that a profitable trip suddenly becomes an effort to lose money!

Aside from these two main payment structures, Lyft drivers also receive two additional payment types: tips and bonuses. Bonuses and promotions are paid out in a small number of scenarios as a reward for working during busy times or achieving certain rideshare metrics; the most common promotional pricing structure used by Lyft is the surge pricing model.

However, this isn't the only way that Lyft offers promotions to its delivery drivers; it also provides many other opportunities for bonus income, such as streak and scheduled bonuses.

Finally, there's the Lyft tip schedule. With tip pay, you receive a bonus on top of your main earnings, which is paid to you directly. Moreover, as is common with many other delivery apps, you receive 100% of your tips ' meaning that whatever the customer pays you, you'll receive without being charged a commission on top. As such, this can be a massive boost to your income!

How Much Does a Lyft Driver Get Per Hour?

The average rate of pay for Lyft drivers varies significantly depending on the city and your typical working practices. However, most Lyft drivers generally make around $25 per hour. However, this rate has many massive fluctuations, and it's not uncommon for Lyft drivers to make a smaller sum, such as $15 to $18. Notably, you'll also have to pay your expenses out of your own pocket, too, since Lyft doesn't directly pay for expenses and costs such as fuel or parking tickets.

Does Lyft Pay Your Gas Bill?

Unfortunately, Lyft does not directly pay for your gas bill. Of course, if you're driving an electric vehicle, the costs associated with running the car may be significantly lower than the cost of running a petrol or diesel vehicle.

Therefore, if you have been looking for new ways to cut your gas bill, make sure you consider whether you could upgrade your vehicle. Alternatively, why not consider hiring one of Lyft's rental vehicles with Express Drive instead if you don't have access to a recent, efficient vehicle model?

Does Lyft Have Life Insurance?

Unfortunately, Lyft does not directly offer life insurance for its drivers. However, Lyft does offer discounted rates on some insurance packages, such as rideshare insurance policies, to help keep driving more affordable.

Do Lyft Drivers Get 401k?

Unfortunately, financial contributions to a 401k scheme are not matched by Lyft for its delivery drivers. However, Lyft does offer a 401k plan for its paid employees. Unfortunately, as a gig worker, you won't fall under this role and so will need to look at retirement saving options separately.

Does Lyft Have Unlimited PTO?

Unfortunately, as a gig driver, you are classed as an independent contractor. This means that while you can technically take unlimited time off from your rideshare driving, this is not paid for by Lyft. Therefore, if you are planning on taking a vacation, it's well worth planning the best time to go on holiday as a gig worker to ensure that your time away doesn't compound your earning opportunities.

HOW DOES LYFT PAY DRIVERS?

Earnings made through the Lyft app are typically paid on Tuesdays every week. Your earnings will be directly transferred on a weekly basis, so you won't need to do anything to claim the income. However, if you would like to receive your payment sooner ' for example, if you have an unexpected bill to contend with ' you can cash out within 24 hours using the Express Pay function.

Occasionally, if there's an issue with your bank account, you may receive a notification that a failed transfer occurred. In this scenario, you may need to update your bank account details through the Lyft app; fortunately, this is a simple and easy process and shouldn't take too long to complete. Usually, the issue will be as simple as there is a typo or error on your account details that needs amending.

How Can I See How Much I Made Each Week?

If you head to your driver dashboard through the Lyft drivers app, you'll be able to find a weekly summary of your earnings. This will briefly summarise your weekly earnings, including driving totals, net earnings, ride earnings, tips, adjustments, bonuses, and more. This information can often be incredibly helpful to ensure you're making a fair hourly rate for your time spent on the Lyft app. And, if you notice that your total pay and the number of hours of online time don't seem to correlate as well as you'd hoped, integrating the Para driver utility tools could be a good bet. We've outlined this shortly.

TIPS TO MAKE MORE AS A LYFT RIDESHARE DRIVER

Working as a Lyft driver can be incredibly rewarding in many cases ' however, it also comes with several unique challenges. As such, it's important to consider the different options and opportunities available to you to help you decide on how you could make more of a Lyft rideshare driver.

Don't Hang Around Forever

One of the most important things you need to learn as a Lyft rideshare driver is that idle time is unpaid time. As such, if you want to earn more gig work, you'll need to first look at clever new ways to cut idle time out of your working day! Luckily, plenty of simple strategies can help in this regard, ensuring your working time is productive, efficient, and critically paid!

One of the biggest causes of idle time for many rideshare drivers is waiting around for riders to be ready. Of course, there's always going to be a little waiting time while the rider approaches your car; however, if you end up hanging around for five or ten minutes, that can significantly reduce your earning potential!

As such, if a rider is taking a long time to reach your car and isn't replying to messages, or if they keep stalling for more time, don't be afraid to look for another rider instead. If there's another rider looking for a lift just a minute or two down the road, you'll be able to cut out idle time significantly compared to waiting around constantly for a rider who doesn't show up!

However, keep in mind that late riders may be more apologetic, which could increase their potential of leaving you a generous tip for the inconvenience. If the rider is genuine in their apologies and seems sorry to have made you wait, don't immediately cancel their trip; they might be more willing to tip well if you hold out on them.

Make the Most of Lyft Offers

While Lyft doesn't directly pay for your gas and fuel, it does offer a huge range of excellent offers that could significantly increase your earning potential. Indeed, Lyft offers are the ideal solution to save some money on your regular expenses and bills, such as discounts on Openbay vehicle services, free tax services with TurboTax, and many more.

Though these don't directly put more money in your pocket, they can save a pretty considerable sum of money in the long run, making them good options to consider using to supplement your standard Lyft income.

Many Lyft rewards are available through the Lyft points system. This means that the more you work, the more rewards you can save on ' a great incentive to get out on the road (especially if you know you're going to need work done to your vehicle anyway at some point).

Focus on Good Customer Service Throughout

Did you know that riders can rate your performance as a Lyft driver and others can see this information? Driver ratings offer a simple insight into how you can improve your customer service, which in turn can increase your chances of getting great tips. However, it's also possible to lose your account through deactivation if your ratings fall too low, which is understandably a major worry for many Lyft drivers. As such, be sure to work towards great customer service at all times during a ride.

Of course, every customer will want things a little different from their Lyft ride. So, try to follow their cues to determine whether they're looking for you to be chatty or simply professional.

Use the Para App to Increase Your Earnings

Finally, if you're looking for new ways to bolster your earnings as a new Lyft rideshare driver, be sure to download the Para app. Para allows you to work on multiple apps as a gig driver at once ' for example, Lyft and Uber.

This allows you to take on the best gig jobs without worrying about being shortchanged for the time you put into doing rideshares. After all, you deserve the chance to earn a fair income for your rideshare work, and the Para app's amazing range of features can make earning a fair income easier than ever before.

FINAL THOUGHTS

If you've been looking to start working as a delivery driver with Lyft, there are numerous key things you need to know. Fortunately, we have outlined some of the main things you need to know about the benefits of working for Lyft as a Lyft driver; hopefully, this will give you the chance to decide whether or not the Lyft app is the right delivery option for your needs, too.

But remember: as A Lyft driver, you are a self-employed independent contractor. As such, while there are benefits to working as a rideshare driver with Lyft, you'll have to take steps to ensure that you've got the right strategies in place to bolster your earnings.