Achieve Financial Freedom with Uber without Owning a Car

Achieve Financial Freedom with Uber without Owning a Car

If you are looking for ways of making extra income, working with Uber, Lyft , Postmates, Shipt, DoorDash, Instacart, or Amazon Flex is a great opportunity that is available out there.

This opportunity is Rideshare!

What is Rideshare?

Rideshare, like the name indicates (ride sharing), is when you offer people a ride in your vehicle for a fee.

It is a practice that has become popular with travelers for the many benefits that it provides.

Travelers love to take rideshare because it helps them to save a lot on transportation; it’s a cost effective way to travel, especially if you are on low budget.

Travelers are also comfortable with rideshare because it is more secure than hitchhiking.

Rideshare drivers are expected to provide details about their vehicles and create their profiles with the company they are working for. This assures travelers of their safety.

The fact that travelers can fix their prices in advance and have their routes tracked through GPS makes rideshare a favorite choice to many travelers.

Working with Ridesharing Companies

To work with Uber, Lyft, or other rideshare companies only requires you to sign up with them and you are good to go to making passive income whenever you want and as much as you want by giving people a ride in your car.

You can make on the average from $15-$20 an hour. However, this amount may change depending on some factors, including:

• Time of the day
• Gratuities
• The company you are driving for
• The city you are driving in
• Surge pricing and bonuses.

Apart from making good income from working as a rideshare driver, you will also have the opportunity to be out of the house and meet and interact with people.

You will also have the opportunity to explore neighbourhoods you haven’t been to before. This makes rideshare job more exciting than a desk job.

What you need to be a Rideshare Driver

You don’t need much to be a rideshare driver or a delivery driver other than a desire to help people on low budget with their transport need, cheerful disposition, and a hard working personality.

And of course, you need a car. But,

You don’t have to own a vehicle

The beauty of rideshare is that you don’t have to own a vehicle to be part of it and work with Uber, Lyft, etc.

You can actually rent a car vehicle.

There are a number of companies around offering car rental service which you can sign up with, but before you do that there are certain things you need to know to guide yourself against mistakes that can seriously affect your rideshare business:

1. Don’t get into long term commitment with any car

Getting into a long term commitment with a car is a mistake commonly made by some drivers. They think they can make lots of money and be able to make their rental payments conveniently and still make reasonable profits.

But, the reality that usually stare them in the face after driving the car for a few days after the lease or rental contract is has been signed is that they have to work so hard, putting in 14-16 hours a day to be able to meet their weekly rental payments.

The wise thing to do is to rent or lease a car for 30 days and learn how much you can reasonably make in a day and the number of hours you can put in.

After you have learnt all you need to know about driving the car, you can then make a commitment of not more than one year with it.

This can help to safe-guard you from any changes from the rideshare company that you are working for that may affect the money you make. This can be the company reducing the travel rate paid by passengers.

2. Make sure your lease payment is far less than your income

To succeed in your rideshare business, you must ensure your lease payment is far below what you are making.

Paying less than half of your average income to the rental service company is not a bad idea. This will leave you with a good balance to take home, which makes your effort worth it.

To make it possible for you to bring your lease payment low, you should go for less expensive vehicles such as Volkswagen Jetta or Toyota Camry instead of the high-end luxury SUVs.

If you are renting a less expensive car, the cost might come down to somewhere around $185 per week. But for the expensive SUVs, you might be expected to pay as much as $700 per week.

With a high lease payment for renting an expensive vehicle, it might be difficult for you to go home with a good balance no matter how many hours you work per day.

3. Make sure the rental company covers all cost relating to the vehicle

Another thing you need to take note of when renting a vehicle for working with Uber, Lyft , and/or other rideshare companies is to ensure that the rental company bears all costs relating to the vehicle, including repair or maintenance cost.

You must ensure that there is no hidden cost on the car that you have rented before you get committed to the vehicle.

You want to be sure that the only payment you will be making to the rental company is the weekly lease payment.

The Car Rental Service you can Trust

If you are looking to rent a car to work with a rideshare company, Hyrecar is a great company to choose.

The company’s rental service is specially designed for rideshare drivers.

It’s a peer-to-peer rental service where car owners advertise their vehicles on the company’s website for rideshare drivers to book.

Hyrecar offers low rate to drivers; you can rent a car for as low as $100 per week with the company taking care of all rideshare insurance that are necessary.

One of the most beautiful things about Hyrecar is that you can rent a car for any length of time that you want.

You can rent for a day, a week, or a month, depending on what suits you more.

This mean that if you are just starting out on rideshare and want to see how things work, Hyrecar is your best bet to test the waters.

You can learn more about this company and see how it can help you to start generating income from rideshare: Hyrecar Car Rental Service

Conclusion

If you are interested in generating income and can drive, rideshare provides a great opportunity you can explore.

And you don’t need to own a car.

You can apply the information provided on this page to learn about how to participate in the rideshare opportunity without owning a car.