The Official HyreCar Ridesharing Blog

HyreCar is a car rental marketplace that offers truly flexible car rental options for ride sharing drivers that are looking to either try ride sharing out for a few days, or rent a car long term.

HyreCar is now operational in Louisiana

LOS ANGELES, July 12, 2017 /HyreCar/ –– HyreCar meets Louisiana! We are proud to announce that we are now fully operational in Louisiana and would like to invite all rideshare drivers and car owners to join us and take advantage of the opportunity to make supplemental income.

“We’re very excited about this expansion into Louisiana and have been looking forward to this opportunity to expand our platform since the company’s inception. HyreCar’s ultimate goal is to empower and connect communities through the creation of a vibrant sharing economy and on-demand opportunities,” – Joe Furnari, CEO, HyreCar.

HyreCar is a web-based open platform that integrates the sharing economy with on-demand services. Our dual-sided marketplace allows vehicle owners to earn money on their idle vehicle assets while providing access to reliable options for drivers looking to rent cars for ride-share companies. The HyreCar team is pioneering the bridge between car-sharing and ride-sharing.

  • Peer-to-peer car rentals for Uber, Lyft, and other ridesharing services
  • On-boarding of drivers and owners through website and mobile app
  • Flexible rental options by day, week, or month
  • Rentals available for drivers 21 years and older

About HyreCar

HyreCar currently operates in 28 states across the US, with new markets opening up each month. Drivers and vehicle owners alike can utilize our marketplace to create a source of revenue for themselves where one did not previously exist. Using our website or mobile app, car owners can list their vehicles and connect to potential renters. Drivers can select to rent vehicles by the day, week, or month to potentially drive for on-demand service companies such as Uber, Lyft, Postmates and more.

Connect with us:

Facebook: @hyrecar

Instagram: @hyrecar

Twitter: @hyrecar

Web: www.hyrecar.com

HyreCar is now operational in Florida

LOS ANGELES, July 12, 2017 /HyreCar/ –– HyreCar meets Florida! We are proud to announce that we are now fully operational in Florida and would like to invite all rideshare drivers and car owners to join us and take advantage of the opportunity to make supplemental income.

“We’re very excited about this expansion into Florida and have been looking forward to this opportunity to expand our platform since the company’s inception. HyreCar’s ultimate goal is to empower and connect communities through the creation of a vibrant sharing economy and on-demand opportunities,” – Joe Furnari, CEO, HyreCar.

HyreCar is a web-based open platform that integrates the sharing economy with on-demand services. Our dual-sided marketplace allows vehicle owners to earn money on their idle vehicle assets while providing access to reliable options for drivers looking to rent cars for ride-share companies. The HyreCar team is pioneering the bridge between car-sharing and ride-sharing.

  • Peer-to-peer car rentals for Uber, Lyft, and other ridesharing services
  • On-boarding of drivers and owners through website and mobile app
  • Flexible rental options by day, week, or month
  • Rentals available for drivers 21 years and older

About HyreCar

HyreCar currently operates in 28 states across the US, with new markets opening up each month. Drivers and vehicle owners alike can utilize our marketplace to create a source of revenue for themselves where one did not previously exist. Using our website or mobile app, car owners can list their vehicles and connect to potential renters. Drivers can select to rent vehicles by the day, week, or month to potentially drive for on-demand service companies such as Uber, Lyft, Postmates and more.

Connect with us:

Facebook: @hyrecar

Instagram: @hyrecar

Twitter: @hyrecar

Web: www.hyrecar.com

The Environmental Benefits of Ridesharing

How Renting a Car Can Improve the Environment

It’s not a secret that cars do a lot of damage to our environment. They produce tons of toxic pollutants and chemicals that result in greenhouse emissions, acid rain, climate change, and significant water and air pollution.

This environmental damage also influences people’s health ranging from minor headaches to cancer to birth defects.

While it would not be practical to abandon cars as a means of transportation, there are ways to at least minimize the damage to the environment.

The concept of ridesharing provides a great opportunity to improve the current ecological situation.

What are the real environmental benefits of ridesharing? And why does owning a car do much more damage to the environment than renting one?

Let’s find it out!

Why Is Owning a Car Worse for the Environment than Renting?

A personal car is, of course, a privilege. However, it also does a lot of damage to the environment.

Here’s why.

As the number of cars on the roads keeps increasing, so does the amount of pollutant emission.

People keep buying personal cars, and by doing so they also contribute to environmental deterioration.

Source: maxpixel.freegreatpicture.com

Consider the statistics below taken from statista.com. It is obvious that the number of vehicles is steadily rising.

Source: statista.com

This already puts a great burden on the Earth, and there is no sign that the growth will stop.

The research company Bernstein predicts that by 2040 the total number of cars in use worldwide will almost double and may even exceed 2 billion.

As more people buy and use personal cars, the damage will be even more serious than it is now.

Increasing levels of air pollution accelerate global warming.

Passenger vehicles, along with light and heavy trucks, are considered to be the main sources of air pollution.

According to the U.S. Environmental Protection Agency “Inventory of U.S. Greenhouse Gas Emissions and Sinks,” the transportation sector of the United States, including all the transportation means, produces approximately 30% of all U.S. greenhouse gas emissions.

Source: wikimedia.org

The National Oceanic and Atmospheric Administration has estimated that the amount of global carbon dioxide (CO2) emissions in the atmosphere has reached a tipping point.

Global atmospheric temperatures are considered to be higher than ever before. And with the increasing levels of greenhouse emissions, global warming will continue to increase.

Humanity is already dealing with disastrous consequences of global warming including the significant rise of sea levels, the melting of glaciers, and more. These consequences will become even worse if the number of cars is not decreased.

Many cars require a lot of fuel, so non-renewable energy sources are being quickly exhausted.

The consumption of oil is also steadily increasing. Oil is a non-renewable source of energy, and we may soon run out of it.

The U.S. Energy Information Administration estimates that in 2016 the United States consumed an average of approximately 19.63 million barrels of oil per day.

According to BP’s annual report as of 2013, the Earth has a reserve of oil that at the current pace of extraction will only last for another 55 years.

Oil should not be wasted but should instead be used effectively.

It is impossible to stop using cars. But, it is obvious that the environment is already in very bad shape, and it will require great changes.

Let’s take a look at how ridesharing services can help.

How Does Ridesharing Contribute to the Improvement of the Environment?

We can expect real changes in the world of ridesharing as this market is rapidly increasing.

PricewaterhouseCoopers predicts that by 2025 the global sharing economy will grow up to roughly $335 billion, compared to approximately $15 billion today.

Source: pexels.com

Ridesharing can actually contribute to the improvement of the environment.

Here’s how.

Ridesharing decreases the use of cars and reduces car congestion.

Ridesharing services allow people to avoid purchasing a car, which results in a decrease in the overall number of cars on the road.

Consider the results of a study conducted by the Transportation Sustainability Research Center at the University of California, Berkeley. It states that for each car-sharing vehicle in use, there are on average from 9 to 13 fewer cars on the road.

This is because people want to avoid the high costs of car ownership. So, they either sell a car, or postpone buying one.

And it was also estimated that ridesharing helps reduce car emissions between 34% and 41% per year per each household using these services.

Ridesharing helps reduce air pollution.

Cars and light trucks contribute to air pollution the most. We’ve already seen that air pollution increases global warming

But, as we’ve found out, ridesharing helps reduce the number of cars, and consequently, fewer cars produce less carbon dioxide.

The image illustrates the amount of carbon dioxide emissions per capita per country [Source: wikimedia.org]

Consider the results of the same U.C. Berkeley study. According to it, each car owned by a ridesharing service such as Uber or Lyft removes between 5.5 to 12.7 tons of greenhouse gas emissions per year.

Scientists estimate that this contributed to the decrease of the total carbon dioxide emissions from cars by about 10%.

Thus, ridesharing can also help slow down global warming.

Ridesharing helps conserve non-renewable energy sources.

As you already know, the amount of oil left on the planet is decreasing rapidly. We should not only strive to conserve it, but also to use it effectively.

However, the 2015 Urban Mobility Scorecard published by INRIX and the Texas A&M Transportation Institute shows that traffic congestion can cause enormous fuel waste.

Travel delays caused by traffic congestion result in not only wasting about 7 billion extra hours in traffic jams but also burning more than 3 billion gallons of fuel.

So, as noted above, ridesharing helps significantly reduce car congestion. Fewer cars require less fuel and non-renewable energy sources can be conserved for longer.

Conclusions

Vehicles significantly influence the environment. Although people can’t stop using cars completely, they can still contribute to the improvement of the environment by using ridesharing services.

Ridesharing has the following environmental and ecological benefits:

  • Ridesharing helps the public use fewer cars and reduce car congestion because people consider it cheaper to rent a car than have their own.
  • Ridesharing helps reduce air pollutant emission because fewer cars on the road mean that fewer emissions are produced.
  • Ridesharing helps conserve non-renewable energy sources because fewer cars require less fuel.

It is very important to take action and improve the environment now before it is too late.

You can personally make the world a better place by renting a car rather than buying a new one.

Uber and Lyft are back in Austin, TX

After a year long hiatus due to strict regulations, Uber and Lyft are now operational again in Austin, tx.

         

Upon new regulations, the state of Texas now has the ability to regulate the companies, and not the municipalities. The city of Austin will not be allowed to require its own local rates, taxes, or licensing requirements.  HouseBill100 has put ride-hailing regulation under the Texas Department of Regulation instead of local Austin governments.

  

Drivers are still subject to undergo thorough background checks through Uber and Lyft, but will not be required to submit a fingerprint analysis, which was once necessary before HouseBill100 was recently signed.

Prior to the signing, the extraneous fingerprint scan was ultimately causing a large amount of drivers to pull away from Uber and Lyft. The ridesharing companies decided to opt out of working in Austin because they felt that the fingerprint process was harming creating more of a problem for drivers and slowing down their approval time in order to get on the road.

Uber and Lyft drivers should see a huge benefit from re-entering in the states capital. HyreCar partners in the area should see a large demand for their vehicles as this opens the opportunity for many drivers to get back on the road.

For further information on how to rent a vehicle to driver in Austin or how to rent your car to a rideshare driver, please visit the links below:

                

How to Make $1,000 a Week as a Rideshare Driver

Some people don’t realize that working as an Uber or Lyft driver gives you the opportunity earn more money than you would think. Even those who already drive may be surprised at how much more they can make.

Some Uber drivers waste time and fuel driving back and forth searching for clients, then complain about low income and say that it’s impossible to make $1,000 a week. In this article, we will show you that it is quite doable, and then tell you how to do it.

How Much Do Uber Drivers Earn?

Uber drivers make $19 per hour, on average, according to a TechCrunch study. This value varies greatly from one driver to another, as it depends on what vehicle you use and where you drive.

Average hourly Uber driver revenue from Techcrunch

source: techcrunch.com

As you can see, in Los Angeles the average rate is $16.98, and in San Francisco it’s $23.52. At $20 per hour, you need to work 10 hours per day 5 days a week to make $1,000. But it’s too difficult and tiring to drive for 10 hours a day. The best Uber drivers manage to make a lot of money without applying that much effort.

For example, Nick Arapkiles and Jay Bass earn more than $1,000 a week, and share their driving experiences on Youtube. We’ve listened to their advice and added some useful tips to show you how you can do it too.

How to Start Earning $1,000 a Week with Uber

If you are not yet working for Uber, make sure that you meet the requirements. You must be at least 21 years old with at least one year of driving experience in the USA. If you are under 23, you must have three years of experience.

If you are already an Uber driver, the most important thing is to optimize your working process. In this context, the term optimization means making the most of your physical capacity, and adjusting your working routine to become more effective. Here are some tips for accomplishing this.

  1. Prepare for the working day

Make sure you dress comfortably. Your clothes should fit well, as you may spend a lot of time sitting in a car, and uncomfortable clothes may distract you from driving.

Take snacks and water with you so you don’t need to spend time on extra breaks. It’s an open secret that nutrition has a great impact on health condition and productivity.

  1. Plan places for breaks

Of course, you can’t sit in your car for the entire day—you need to take breaks, just like everyone does. ScienceDaily research proves that a good break can make you more effective. Choose 1 to 5 places in different locations where you can have a good break without spending much money.  

  1. To stay fit, stretch or undertake physical exercise before and after driving

A sedentary job like driving can significantly affect your ability to work. If you don’t stretch your muscles before and after work, you may feel uncomfortable as soon as the next day. Poor physical condition will negatively influence your mood and lower your motivation to work.

  1. Get up early enough in the morning to drive people to work or school

Early drive from irishtimes.comsource: irishtimes.com

Many drivers sleep late, which means they skip the morning rush hour, one of the biggest opportunities to make serious money. Uber statistics indicate that morning peak time for driving is between 7:00 and 9:00 a.m. If you want to make money, get up early and be ready when your customers need you.

You may as well ride people back home from school and work during afternoon surge. So, don’t miss this time.

  1. Be aware of increased surge fares

Surge fares are Uber prices that increase as demand for drivers grows. Surge times occur when many people are requesting rides all at once and there are not enough cars to go around. This is especially common in bad weather, during rush hours, on national holidays, and when special events are occurring.

Here is a tip on how to increase your surge fare. When you expect a surge, log out of your Uber app. Log back in when surge begins and your rate will be higher than it was before.  

  1. Work on weekends, holidays and during big events

These are when surge times are most likely to happen, so driving during these periods significantly increases your chance to make $1,000 a week.

  1. Use the passenger app to see other cars in the area

It’s good to know where your competition is, but as an Uber driver, your app shows only your client’s location, not where other drivers are. To get around this, just download the Uber passenger’s app, which will show you how close competitors’ cars are both to you and to your potential clients. If there are too many cars, drive to a different location to increase the likelihood of finding a passenger.

  1. Head to central areas during downtime

During downtimes, the chances of finding passengers are higher in busy urban areas than in suburbs.  

  1. Calculate and track your expenses

If you want to make more money, you need to track your expenses. Calculate how much you spend on gas, coffee breaks, and other expenditures during working hours. Analyze this information and figure out how you can minimize your costs. For example, you may notice that over the course of a week you spend too much on buying coffee in shops: $4 a day doesn’t seem like that much, but at $5 a day, that works out to around $1,000 a year! Homemade coffee is cheaper, and you may even find that it tastes better too.

  1. Sign up for Maximum Ridesharing Profits, written by Harry Campbell, The Rideshare Guy

This course will allow you to learn more tools for how to increase your earnings as a rideshare driver. After completing the course, you will have learned some helpful information including: where to find more pickups, how to get more rides at a higher surge price, improving your ratings when they start slipping, how to build a side business while you drive, and more!

Conclusions

Based on average hourly earnings of $19 per hour for Uber drivers, it is definitely possible to earn $1,000 a week. At worst, you will need to work 10 hours a day five days a week, but you can optimize your work and as a result spend less time driving by following these helpful tips:

  • Prepare for the working day in advance to feel comfortable in your car: Take snacks and water, dress comfortably, and don’t forget to do some physical exercise before and after driving.
  • Get up early enough for the morning rush hour to drive people to work or school.
  • Use the passenger app to see other cars in the area. Monitor where your competitors are and go to areas with fewer drivers to increase demand for your service.
  • Head to central areas during quiet times because the chances of finding a passenger in a busy urban area is higher than in outlying areas.
  • Take advantage of increased surge fares to make more money on each ride. If you expect a surge period — as rush hour begins, for example — log out of your Uber app and log in when the surge starts. This will result in a higher surge fare.
  • Work on weekends, holidays and during big events because that is when demand for drivers is highest and surge fares occur most frequently.
  • Calculate and track your expenses. Monitor how much money you spend on gas, coffee, snacks and so on. You may be surprised how quickly small expenditures add up.

 

 

How to Pass the 19-Point Vehicle Inspection

How to pass 19pt vehicle inspection

In order to become an Uber or Lyft driver, your car must pass the 19-point vehicle inspection to confirm that it meets the company’s requirements. In this article, we’ll describe what the inspection is about, and how to pass it.

What Is the 19-Point Vehicle Inspection?

This inspection is a procedure carried out by government or private organizations to check a car in 19 specific areas to ensure that it conforms to safety and operational requirements.

While the 19 points are the same for different companies, their procedures differ slightly. The process also varies based on the geographical location where the inspection is performed.

19 Points Checked:

  1. Headlights
  2. Tail-lights
  3. Turn indicator lights
  4. Stop lights
  5. Foot brakes
  6. Emergency/parking brake
  7. Steering mechanism
  8. Windshield
  9. Heat and air conditioning
  10. Front, rear and side window
  11. Front seat adjustment mechanism
  12. Door controls (open, close, lock)
  13. Horn
  14. Speedometer
  15. Body condition/damage
  16. Muffler and exhaust system
  17. Condition of tires, including tread depth
  18. Interior and exterior rear view mirrors
  19. Safety belts for driver and passengers

If your vehicle has problems in any of these areas, you will not pass the inspection until they are addressed.

Requirements for Uber Vehicle Inspection

The following is the process for ensuring that your car meets Uber’s inspection requirements:

First, make sure that you meet the minimum driver requirements before you start preparing your vehicle for inspection:

  • You must be at least 21 years old.
  • You must have at least one year of driving experience in the USA, and three years if you are under the age of 23.
  • You must have a valid US driver’s license.
  • You must drive an eligible 4-door vehicle.

There are several options for undergoing an Uber inspection.

If you live in a large city, such as in Los Angeles, you can have your car inspected at an Uber Greenlight Center. This is free and takes less than 30 minutes.

If you do not have a specialized Uber center nearby, you can pass an inspection at any government Motor Vehicle Inspection Station.

Here’s the procedure for registering for inspection with Uber:

1. Sign up at Uber

Sign up as a driver and choose your location.

2. Download an inspection form

Download an inspection form from Uber’s website, being sure to choose the one appropriate for your city.

Note that you don’t need a printed form for some Greenlight centers, because specialists there will have the required papers. Check this information on Uber’s website.

3. Choose a center and schedule an inspection

The best way to find the closest vehicle inspection center is to visit Uber’s website. Select your city, and click on Get an Inspection.

You will see a map with the location of Greenlight Centers.

source: Uber.com

In Los Angeles, Jiffy Lube and Sprint Stores are Uber partners. They will cover 100% of annual inspection costs.

When you sign up as a driver, you automatically get an offer to have a vehicle inspection at the nearest Uber center, depending on your location.

You will also receive an offer to schedule your inspection.

Here is a screenshot of the Greenlight Riverside, Los Angeles schedule.

Greenlight center Uber

source: Uber.com

As mentioned before, inspection at Uber Greenlight Center is free. Uber does not cover the cost of inspection by a third-party mechanic, the average cost of which is $20 to $40.

4. Pass vehicle inspection in Uber Greenlight Center

Bring all the necessary documents to get started. These include your driver’s license, vehicle registration, car insurance, and downloaded inspection form.

5. Upload the completed form

Once your vehicle passes inspection, upload pictures of all of the required documents to your profile at partners.uber.com or using your Uber app. If you have trouble, the Uber staff at Greenlight Center will help you.

An example of the inspection form:

The example of vehicle inspection form Uber

source: Uber.com

Requirements for Lyft Vehicle Inspection

Lyft vehicle inspection varies from state to state, just like Uber’s. In some states, Lyft drivers don’t actually have to visit an inspection station; they can upload photos of certain documents as proof that they meet the specifications.

Before preparing for Lyft vehicle inspection make sure that you meet the main Lyft driver requirements:

  • You must be at least 21 years old.
  • You must have had a valid driver’s license for at least 1 year.
  • You must have a clean driving record.
  • You must have a vehicle insurance.

Assuming that you meet all of these requirements, you may sign up in Lyft as a driver. Then, choose your location, and carefully read all the standards for your state described on Lyft.com.

Vehicle Inspection in Lyft may be carried out in two ways: with the help of a mentor inspection or at a mechanic station. The correct procedure depends on the state.

Mentor inspections are widespread in many states.

Here is a short guide on how to pass a mentor inspection, based on Lyft recommendations:

  1. Prepare your car. Make sure that it not only will pass all 19 points of the inspection, but is also clean and tidy.
  2. Schedule a session with your mentor, chosen from the list that Lyft will provide.
  3. Download a Vehicle Inspection Form for your state from lyft.com.
  4. Meet with your mentor at the arranged time and place. Don’t be late. The mentor will conduct the 19-point vehicle inspection, and examine your driving skills. Follow his guidance, and feel free to ask questions. Remember, any mistake may cost you the mentor’s approval.
  5. After the mentor’s session, you may need to wait as long as several weeks for Lyft to run a background check. Check your email regularly for a Welcome Kit with a Lyft emblem for your windshield; once it arrives, you are ready to hit the road.

Lyft mentor inspection is free.

The Inspection Form in Arizona:

Lyft vehicle inspection form Arizona

source: Lyft.com

Mechanical Inspection

Citizens of Maryland, for example, may undergo an official state vehicle inspection in the state or several neighboring regions (Maryland driver requirements):

Here is an example of Maryland Vehicle Inspection report:

Maryland vehicle inspection form

source: Lyft.com

The details of the vehicle inspection procedures in all cities where Lyft operates are described here.

Lyft doesn’t provide free mechanic inspection, but will give you a list of auto repair centers and facilities near you. For example, here is a list of Los Angeles facilities.

What If Your Car Doesn’t Pass the Inspection?

The mechanic, Greenlight Center specialist or a mentor who conducted the inspection will explain why your car failed and how to correct the problems.

Once your car is repaired, you can attempt again to pass the inspection.

Summary

In this article, we described how to pass the 19-point vehicle inspection on the Uber and Lyft platforms.

The procedure for completing the inspection varies based on the company and the region where you are located.

  • The first step is always to make sure that you meet the general requirements to be an Uber or Lyft driver.
  • Next, you should check for information about any special requirements in your city. If you are going to work for Uber, find a Greenlight Center or other mechanic center. Download the correct form, schedule an inspection, check that your car is in good condition, and go in for the inspection.
  • Assuming that all goes well, you will receive a form indicating that your car passed. Upload it to Uber’s website or app, and you can start driving and making money.
  • If you are going to work for Lyft, first find out what kind of inspection is required for your city: mentor inspection or mechanic inspection. In some cases, you may just need to verify that your car is in good condition through photos and uploaded documents.
  • You should prepare your car both for mentor and mechanic inspection. If doing a mentor inspection, you should take the human factor into account as well: be punctual and treat your mentor with respect.
  • After the mentor session or mechanic review, you may need to wait for up to two weeks to get final approval. Check for an email indicating that you passed, and you’re ready to start driving for Lyft.

We wish you the best of luck in passing your 19-point vehicle inspection successfully, and have a wonderful working experience with Uber or Lyft!

 

If you would like to start renting or driving, please click here:

A Quick-Start Guide to Taking Over a Car Lease

Leasing a car can be a great and (comparatively) inexpensive way to get a new (or new-ish) car, at least for as long as the lease is in force. (The average car lease is only about three years long.)

Leasing a car is rather different from buying a car, though in both cases you’d make monthly payments. Moreover, taking over someone else’s lease—frequently called lease swapping—is different from both. But depending on your circumstances, financial situation, and the value you place on having a current car, lease-swapping could be a great option for you, as long as you know the pros and cons. This article will show you how.

HyreCar - In Post Commercial

What is leasing a car?

In order to understand lease swapping, it’s a good idea to understand what leasing a car is in the first place. (If you already know that, feel free to skip ahead.) Basically, leasing can be compared to renting a car. You sign a contract with a bank (who really owns the car) to drive it for a certain period of time—usually 12, 24, or 36 months (occasionally, leases can be longer or shorter than this).

While you do this, you are only permitted to drive it a certain number of miles a year (usually 12,000-15,000) to ensure reasonably controlled depreciation, and you make monthly payments to the bank to cover the cost of said depreciation (which is usually determined by projecting average financial value after the end of the lease, then dividing the percentage lost into monthly payments).

For example: Say a brand-new $25,000 car is assumed to be worth only 60 percent of its value after 3 years. This means it will have lost about 40 percent value, which financially is $10,000. Thus, a car lease requires you to reimburse the cost of depreciation over those three years of use, with additional taxes and fees, divided into a monthly payment over 36 months. Of course, this process would be a bit different if you are not working with a brand-new car, but not by too much.

shutterstock_538314466

Note that given the mileage limits, you have two options: You may raise the limits, but expect a higher monthly fee (since it’s based on depreciation, and higher mileage per year means more depreciation). Or, simply throw caution to the wind and drive as much as you want—but expect to pay a penalty for every mile driven over the limit, usually fifteen cents. And cars are only allowed to have “normal wear and tear” at the end of a lease (what that is specifically will be in your contract). Anything beyond that will be charged as well.

There are important things to know before leasing outright or lease-swapping, but we will get to them in time.

(Speaking of car renting: HyreCar connects car owners with people who want to rent them and drive them for Uber and Lyft. Sounds interesting? Find out more here!)

What is lease swapping?

Now that you understand the basics of what leasing is, we can discuss lease-swapping. This is essentially a transfer of paperwork where you take over the lease payments for someone else for the remainder of the lease period, and of course get to use the car for that time as well.

The original lease is thus relieved from all payments and responsibilities as regards their vehicle, and you are now legally responsible for all payments, maintenance, and everything else. You get to use the car for whatever amount of time is left on the lease, as long as you stay within the mileage limits (so you’ll have to know how many miles are left if you take over a lease mid-year).

shutterstock_389836423

Note that most third-party companies who connect current lessees with potential swappers do charge a fee (to both parties), and that in about 20% of swapped leases the original lease still legally retains some liability for the car. Exact details on all of these depend on the situation and the company used.

Why would someone want their lease taken over?

A variety of reasons. The two most common ones are the current lease either cannot afford their monthly payments, or they simply want a new car and need a fast way to get out of the lease. Sometimes the lessee no longer likes the car, or it becomes impractical if there is a new baby in the family or for another reason.

shutterstock_442582111

Why would I want to take over someone’s lease?

  • Variety. Lease takeover can help you find more options from which to choose. If you only want to use a car that is a year or two old, this will be challenging if you’re looking at a used-car dealership. But since most leases are less than four years, you can find a pretty recent car, often without many miles on it.
  • Price. Leasing a car is cheaper than buying it, since you’re only paying a percentage of the total cost. Taking over someone else’s lease is cheaper still, since generally the lease has been significantly paid by the prior lessee. (Most swapped leases are between 18 to 22 months in duration.) This combines nicely with the previous point, in that if you find a high-end car that has, say, two years left on its lease for $250 a month, as one leasing site put it, “You’d be paying $6,000 to drive a $60,000 car.”
  • Flexibility. If you dealt directly with a leasing company, you would be saddled with a lease for the entire period. But say you only need a car to get you by until you buy your dream car. Or maybe you want to in-depth test-drive a car before you decide to buy it. You couldn’t take out an eighteen-month lease with a leasing company or a bank. But by taking over someone else’s you can find the right length of time and the right car.
  • Incentives. Frequently, people looking for someone to take over their lease desperately need to get rid of the car and get out of the lease agreement. This urgency—often for financial reasons—makes them especially eager to get the lease under someone else’s responsibility, and as such they will frequently include cash or other incentives to draw potential lessees.

What are the potential drawbacks of taking over a lease?

While there are potential pitfalls to specifically assuming someone else’s lease, there are also potential drawbacks to leasing in general. Neither are necessarily deal breakers for most people, but they ought to be considered ahead of time to make an informed decision.

shutterstock_268409309

Drawbacks of Leasing in General

  • Cost. While leasing is initially less expensive than outright purchasing a car, over time it can actually cost far more. Recall that leases only last for about three years (less, if you assume someone else’s). This means every three years you will need to either buy or lease a new car, or pay end-of-lease pricing to purchase the leased vehicle (this price is usually determined at the time of the contract). If you lease frequently, you can pay as much or usually more than you would to simply buy a car outright.
  • Lack of ownership. This one might be easily forgotten. Remember I said leasing is basically like renting a car? Well, that means that the payments you’re making simply make up the cost of depreciation. They’re not payments toward anything. When your lease expires, you’re no closer to owning the car, and more importantly you have no equity to leverage in purchasing one.
  • Penalties. Besides the monthly payment, lessees can face stiff financial penalties for driving over the mileage limit; getting into a bad accident that damages the car significantly; failing to properly maintain the car’s interior and things like the tires, transmission, and brakes; you wear on the car enough that performance and appearance are significantly affected; or if you want to get out of the lease before it expires.
  • Lack of freedom. Leases are fairly strict agreements between you and a bank to properly take care of their car in exchange for somewhat limited usage. The average driver might not find these expectations restrictive, but you will need to weigh your individual transportation needs, as well as unforeseen things like family emergencies and accidents, that could end up negatively affecting you with a lease that wouldn’t if you simply made regular payments towards ownership.

Drawbacks of Lease Swapping

  • Even more mileage limits. Leases, of course, limit the number of miles the lessee may drive the car. But in taking over someone else’s lease, you not only have these limitations but also have less time in which to use them, which translates into fewer total miles for that car. This can also be complicated if you swap at an odd time of year. Let’s say someone has leased a car for only six months, but has two and a half years left on it when they decide to have you take over the remainder of their lease.Further, let’s assume they have a limit of 12,000 miles per year. Since the next two years have not happened yet, you can assume those miles are untouched. But how much do you have remaining for this year? This is why you need to know exactly how many miles have been driven on the car from the day the original lease was signed. It can save a lot of headaches later on from inadvertently driving past the yearly limit.
  • Possible maintenance issues. In assuming the lease, you become responsible for any wear-and-tear that takes place, and with the possibility of fines if you significantly damage the car. Make sure there aren’t pre-existing issues that could cause a blow-up down the line. Have a mechanic look at the car before you lease it.
  • Issues with appearance. Similarly, check to see that the paint, lights, mirrors, etc., are all in working condition ahead of time. You will be fined for someone else’s poor maintenance once the lease is in your name.
  • Watch for surprises. The age of the Internet has enabled fewer people to get away with scams—and while most of the people on legitimate lease-swapping sites are perfectly nice people who want to get rid of their functional car, doing research is never a bad idea. Make sure you check with sites like CarFax.com or AutoCheck.com (note that these sites charge a fee) to get a detailed history report on the car—including things like accidents and whether the Odometer has been tampered with.

And, assuming the lease allows for it (and it probably does), why not consider being an Uber or Lyft driver in your newly-leased car? Here’s a guide to the best times to drive for Uber. And here’s another to the best cities to Uber in.

If I decide I want to swap my lease, or assume someone else’s, what do I do?

The easiest way to do this is to go to industry standards like SwapALease.com or LeaseTrader.com. They list lessees by individual and car and meet high standards for both (note that the latter site prequalifies all potential buyers, while the former runs a credit check after reaching an agreement with an initial lessee).

A word about credit: You must have good enough credit to qualify for the lease in the first place, so if you have a poor credit score, don’t bother!

Hyrecar - A Quick-Start Guide to Taking Over a Car Lease

Different leasing requirements depend on the financial institution (a handful do not allow transfers under any circumstances, such as local credit unions or banks like Chase Auto Finance) and the car manufacturer. Remember above that in about 20% of cases the original lessee will be expected to legally retain some liability for the vehicle even after transferring the lease. This is called “post-transfer liability,” and it means the original holder could be held financially responsible if the new lessee defaults on any payments or for any additional fees they incur. Nissan, Infiniti, and BMW all require some form of this liability, and Acura and Honda do depending on your state of residence.

Generally, the original lessee must be willing to potentially assume liability if the second lessee defaults, and it is their responsibility to make sure their leasing institution even allows transfers, and if the trading company (the third-party company that connects lessees with potential assumers) has ensured the second lessee has good enough credit.

For the person assuming the lease, it’s their job to:

  • Understand and can meet the requirements of the original lease
  • Find out whether if the lease period extends beyond the warranty of the car (a vitally important and often-overlooked thing to note)
  • Have the car examined by a qualified mechanic (good lease-trading companies will have services that do this)
  • Make sure leasing the car via a trading site is cheaper than leasing a brand-new car (this can save sometimes significant amounts of money)
  • Know whether the car they want to lease belongs to an individual consumer or a car dealership
  • Be aware of potential end-of-lease fees—both penalty charges and turn-in fees (some car manufacturers charge a hefty return fee unless you agree to lease another car), and
  • Know the history of the potential car, including any major repairs or accidents (here’s where things like CarFax.com come in).

And, if you want to lease a car to drive it for Uber, here’s a list of the best cars to do just that.

Conclusion

Leasing a car isn’t for everyone, and assuming another person’s lease isn’t either. But if you do your homework and are responsible, it could be a great way to save money, drive a swanky car, and even help someone in need. Do your research, weigh all the options, and do what’s best for your situation. Hopefully this little guide has helped. Happy leasing!

How Does UberPool Work

Remember back in the 80s and 90s when HOV lanes started popping up in large cities, the proposed solution to traffic congestion and air pollution? Well, think of UberPool as Uber’s version of that.

Uber’s CEO, Travis Kalanick, described Uberpool as the way to “cut congestion, pollution, and parking by getting more people into fewer cars.” As the self-proclaimed future of transportation, Uber is attempting to make even greater strides in the way it changes riding and driving for people all over the world.

Uber’s carpooling service, UberPool, and Lyft’s comparable service, Lyft Line, are gaining popularity among drivers and riders. But maybe you haven’t quite figured this whole thing out yet and have questions. Have no fear, we’re here to answer your questions and let you know exactly how you can take advantage of these services if you so choose.

What It Means For Your Drive or Ride

Hyrecar - How Does Uberpool Work

First, let’s talk about the simple logistics of how UberPool (or Lyft Line) works in comparison with the traditional service of UberX or Lyft.

For Drivers

If you’re wondering if UberPool is optional for you like it is for riders, the answer is no. You will get pinged for UberPool rides and UberX rides regardless of your preference.

Now, you’re certainly welcome to decline an UberPool request. You just need to weigh the consequences of that. Uber no longer deactivates drivers with low acceptance rates, but they do give “time-outs” if you ignore a few consecutive requests. I don’t know that it’s worth it to lose money and opportunity simply to avoid UberPool, but that’s your call.

This means that if you accept a rider using UberPool, you may be pinged with a ride request while already in the process of picking up or driving that passenger to his/her destination. Uber has a helpful video for drivers that explains exactly how this ends up working.

You can accept or decline this offer – it is up to you. If you decline, know that it may affect your acceptance ratings. If you accept, be sure to explain to your current passenger that you are picking up an additional passenger and may add a few extra minutes to their commute.

For Riders

You now have the option of requesting a shared ride using the UberPool service (if it’s available in your city) for a discounted rate. This discount is anywhere from 20 to 60% less than a regular ride, depending on surge. There is a limit of 2 riders.

Hyrecar - How Does Uberpool Work

A few things to know:

  • Passengers are not dropped off in order of pick up, so you may not be dropped off first, even if you were picked up first. Instead, the most expedient route will be used for all passengers.
  • Your app will show you the locations of other riders, pick up, and drop off locations. Uber’s goal is to match riders based on proximity, so you should never go too far out of your way.
  • As a courtesy to other riders, drivers will only wait for 2 minutes before moving on. Please be sure you are ready and waiting when they arrive.
  • Because other riders are involved, and you are being charged a guaranteed fare, you cannot change your destination once your ride is accepted.

If time is a factor at all, it is recommended that get an UberX ride instead.

For both drivers and riders, Lyft Line works similarly, although Lyft Line claims up to a 60% discount for passengers, which is more than Uber. We’ll get into the potential cost benefits of carpooling during ridesharing soon.

When Does UberPool Work Best For Both Drivers and Passengers

Hyrecar - How Does Uberpool Work For Drivers

The best times to use UberPool are during surge pricing or during a launch period in your city. When prices surge, you get paid more, and that doesn’t change with UberPool. In fact, you end up making more during surge pricing, because Uber or Lyft are still paying you surge rates, but charging riders less, especially during a launch period.

When services launch in a new city, UberPool and Lyft Line both have a period of heavily discounted flat rates to make the service more appealing to newcomers. However, rates for drivers do not change, and still go up during surges. This means you’re making more than you normally would.

For Riders

This again depends on how important time is. If you’re not concerned about adding some extra time, this is a great option.

How Does Pricing Work?

This is one of the biggest questions people have, and I’m not gonna lie, the answer is complex. You can find a really detailed post over at The Rideshare Guy’s blog. But if you’re just looking for the short answer, here it is.

For Riders

Basically, Uber’s algorithm calculates a price based on distance, estimated trip time, and time of day (surge or non-surge). With UberPool, added into the calculation is likelihood of being matched with second or third passenger, so the best time to use UberPool or Lyft Line is often during these surge times (or Prime Time with Lyft Line).

One major price advantage is the guaranteed fare that you receive. Unlike with UberX, where you receive an estimated fare before your trip, UberPool gives you a guaranteed fare. So you’ll know how much you’ll pay from the get-go.

UberPool pricing experiences surge just like UberX. However, the higher the demand for rides, the greater the discounts for riders willing to share, because there is a higher likelihood of being matched with more passengers along the way. That’s the long and short of it.

HyreCar commercialFor Drivers

Many out there have claimed that UberPool and Lyft Line are little extra pay for a lot of extra work. Here’s why.

As Uber puts it, drivers make more money when they use UberPool, because they now get paid for extra driving it takes to pick up and drop off a second passenger, money they wouldn’t earn if driving the two passengers separately. See the below picture for an example.

Hyrecar - How Does Uberpool Work But here’s the catch. While you are being paid for extra mileage, you are also taking on the additional task of accepting more riders as you drive. This may seem simple but if you think of all that is entailed in picking up and dropping off one rider, and then add in unexpected additional riders at random times, it adds some complexity to your drive.

It is also true that in some places drivers are paid a slightly lower rate for an UberPool ride than for an UberX ride.

However, for many people, when you consider the time spent between riders waiting for a ping while using UberX, versus using that time making money while picking up multiple passengers using UberPool, the extra effort can be worth it.

You can see this post for some helpful tips on how to best utilize UberPool to your advantage as a driver.

A Few Important Tips

Hyrecar - How Does Uberpool Work

There are several things to keep in mind as you begin using UberPool.

For Drivers

  • Riders may be new to the experience. Make sure you explain things to them before you begin driving. If they accidentally chose UberPool or Lyft Line, or aren’t ok with the extra time, you can cancel their ride. This can prevent unnecessary frustration.
  • Avoid picking up riders with lower ratings. Uber no longer deactivates drivers for low acceptance ratings, so don’t be afraid to decline a rider who doesn’t have high ratings. The last thing you want is to make the ride-sharing unbearable for your other passengers.
  • When you reach a pick-up location you wait one minute before calling the rider. Then wait one more before cancelling. Riders know that there is a two minute waiting period. Don’t make your current passengers angry by waiting longer than you need to for others.

For Riders

  • Be patient and kind. Seems simple enough, but it would be easy to grow frustrated by UberPool, especially if you are accustomed to UberX rides. The ride is easier for everyone if all passengers are easy-going. Contribute to that.
  • If you’re on the fence, request an UberX instead. Uber’s app will then automatically show you the difference in price between UberX and UberPool, and offer you the option of switching to UberPool. Then you’ll know if the difference in price is worth it to you.

Conclusion

Although UberPool and Lyft Line have a few kinks to work out, they are most certainly the future of ridesharing. With reduced cost and reduced impact on the environment and on traffic congestion, the benefits outweigh the costs.

The best thing you can do is figure out how to use this service to the best of your ability, especially as a driver.

To find out if UberPool or Lyft Line is available in your area, you can visit their sites here and here.

Your 1099 and Taxes FAQs

HyreCar 1099 tax tips

1099 and Taxes – FAQs

We receive quite a few questions regarding the 1099 Tax Form. In order to provide more clarity about the confusing world that is tax returns, we’ve put together an example and compiled answers to some commonly asked questions.

Q: “Why is the 1099-MISC amount different from the amount shown on my HyreCar dashboard?”

A: The 1099-MISC amount is the total transaction value drivers paid to rent your car (including HyreCar’s fee and insurance costs). The amount shown on your HyreCar Dashboard is net of HyreCar’s fee and driver insurance costs.

For example, if a driver rents your car for the offer price of $200 per week. The total cost to the driver is $290 ($70 for insurance and $50 HyreCar fee). Your 1099-MISC will show $290 and your dashboard will show $170. The difference between the total listed on your form 1099-Misc and your dashboard consists of fees and insurance which may be considered Operating Expenses and itemized on your 2016 Tax Return.*

Q: “Why does my HyreCar dashboard payment total differ from the amount I received in my bank account?”

A: Your dashboard is simply a list of your past rentals. It does not include ancillary payments (tickets, tolls, excess mileage, insurance claims, manual rental transactions, etc). These ancillary payments may be itemized as Operating Expenses on your Tax Return.*

Thanks again for renting your vehicle! Feel free to contact us with any further questions. Or, if you’d like to start renting or listing, click the buttons below!

Hyrecar start driving - 1099 and tax tips

Hyrecar list your car - 1099 and tax tips

 

* disclaimer: HyreCar does not provide tax filing advice, please consult with a tax professional for personalized filing and tax information.

 

Best Map Apps for Rideshare Driving

As a rideshare driver, your GPS is critical. There’s nothing worse than dealing with a faulty navigation and an irritated passenger.

Our team took the liberty of reviewing the best GPS navigation apps on the market and reviewed them in this post.

What to Look for in Uber Navigation Apps

If you’re a rideshare driver, there is more to be concerned about than simply choosing the best car to Uber in.

HyreCar - Which Map App Is Best For UberHere’s a few things you should consider when searching for the best GPS driving app:

  • Does the app reroute you if you make a wrong turn? This is especially important when you are clueless about an area you’re driving in. Good GPS systems will catch your mistake as soon as possible and quickly find a new route for you to take to get you back on track.
  • Does the app work well on city roads or congested areas? Some GPS apps simply can’t handle congested city environments. Between interferences from tall buildings and navigating close-together roads, an app may struggle to figure out where you are.
  • Does the app offer multiple routes so you can avoid delays, closed roads, etc? The best map app for rideshare drivers is one that will give you the option to avoid certain roads that you know will cost you money or cause delays.
  • Does the app offer you an estimated time of arrival (ETA)? Your passengers may want to know about how long they can expect their ride to be until they reach their destination. It’s helpful to have an app that gives you an accurate ETA based on current traffic, your speed, and other factors.
  • Does the app offer live traffic reports and other useful information? Speaking of traffic, a good GPS driving app should give you live traffic reports and other delay information so you can be aware of any interferences you may encounter on your drive.

Now, let’s break down our top 5 picks.

HyreCar commercial

1. Uber Nav

Uber has its own navigation app, known as Uber Nav, built right into its driver app. Uber understands how important navigation is for its rideshare drivers, so it aims to make the process even more simple with its built-in app GPS. Uber Nav is compatible with any smart device that can run the Uber app.

Pros

Uber Nav pulls GPS data from several systems, like Google Maps, Bing Maps, and TomTom, for a more comprehensive navigation experience. This means less chance of mess-ups from the navigation system, even in city driving. Plus, for Uber drivers, you’ll have quick access to your navigation without having to switch between apps, since it’s already build into the Uber app you’ll be using.

Cons

The app has had issues in the past with functionality, especially when navigating congested areas. However, it is continuously improving by partnering with other navigation systems to become more accurate in any situation.

Who is it Best For?

Those who already drive for Uber who want a simple way to use navigation from within the Uber app.

HyreCar - Which Map App Is Best For Uber

2. Google Maps

Perhaps the most well-known navigation app, Google Maps continues to stay on top of the pack. The app comes standard on new Android devices, but it’s also available for free for iOS.

Pros

Google Maps switches between day and night map viewing, for the best lighting possible in either situation. It also has helpful benefits, like intelligent re-routing if you get off course, live traffic reports, voice-enabled location search, and multiple routes to avoid traffic and other delays. You’ll also have super-accurate ETAs based on your speed, current traffic, and other considerations.

Cons

Google Maps has some awkward pronunciations for roads and cities, but the voice-guided directions definitely make up for the weird words.

Who is it Best For?

Rideshare drivers who want the most hands-free navigation. With voice-enabled address searches and voice-guided turn by turn directions, you will rarely have to touch your phone to get updated directions from Google Maps.

HyreCar - Which Map App Is Best For Uber

3. Waze

Google purchased Waze in 2013 for $1.15 billion, so it must have known the app was up to some good. Available for iOS and Android devices, Waze is quickly becoming one of the most popular navigation apps.

Pros

Waze is a community-based GPS app, meaning that it sources information from other drivers in your area to bring you the most up-to-date information about where you’re driving. Others can let you know about traffic, accidents, roadwork, gas prices, and anything else that can affect your commute. Others can even help improve the accuracy of Waze by updating its maps when they see a needed correction.

Cons

Waze doesn’t include lane assistance, which can make it tricky to know which lane you need to be in for highway driving. Users also say that the roads and lanes on the app can be difficult to see, and sometimes the zoom feature doesn’t work as accurately as it should.

Who is it Best For?

Waze is, perhaps, one of the most user-friendly navigation apps for rideshare drivers. Uber drivers can benefit from the information other drivers in the area provide. Since hard-to-navigate maps can be updated by users, city driving can be more accurate when using Waze.

HyreCar - Which Map App Is Best For Uber

4. Sygig

Sygic is available for Android, iOS, and Windows devices, and it runs through your vehicle’s in-dash system. You can try it out for 7 days for free, but after that, you’ll need to purchase a premium license to continue using it.

Pros

Sygic gives you the opportunity to access maps even when you’re offline, which is especially helpful if you run out of data or are not in a Wi-Fi accessible area. You can’t always rely on your cell phone’s service to work, especially if you’re travelling in a more off-the-grid area, so this is a good feature for Uber drivers to consider using.

Cons

The offline map mode can run somewhat slow. You’ll also have to add your address information manually, as auto-filled addresses won’t work with no internet access. The prices can run you up to $125, but this is just a one-time fee and includes map updates for life.

Who is it Best For?

Uber drivers who often drive outside of normal cell phone service areas, or just want the added peace of mind knowing that they can pull up maps offline, if needed.

HyreCar - Which Map App Is Best For Uber

5. Navmii

Navmii is a free GPS app for Android and iOS devices, with the option to purchase an ad-free version. The app features a minimalistic interface which makes it simple to use and understand.

Pros

Navmii offers some fun elements, like the ability to compete with others to make it to the leaderboard for best drivers. The app will take into account your driving safety and habits, such as speed and duration of drives, and reward you points so you can see how you stack up against other drivers.
Aside from that, the app offers free real time traffic data so you can be aware of any possible hangups on your route. Navmii will notify you of accidents, road closures, or other delays so you can find alternate routes, if possible.

Cons

Individual maps have to be downloaded, requiring either data or a Wi-Fi connection. Also, the image quality on the app isn’t the greatest. In fact, it’s somewhat cartoon-like.

Who is it Best For?

This app is best for Uber drivers who want to provide a little extra for their passengers. Navmii offers over 17 million new Points of Interest, which can help you find special locations along your route. So, if you want to be a true passenger-pleaser, you can find places when your passengers ask for them, like cool local eateries, museums, or hotels.

HyreCar - Which Map App Is Best For Uber

The Best = Google Maps

Although each of these maps offers specific benefits for Uber drivers, Google Maps seems to prevail in terms of safety and functionality. With the ability to use it hands-free as you drive, you won’t have to take your eyes off the road to find out where you need to go next. Plus, real-time traffic data, accurate ETAs, re-routing, and lane assistance make this app the best all-around navigation helper for rideshare drivers.

HyreCar - Which Map App Is Best For Uber

Did we miss any? What’s your go to app?