One very important point that was left out is where you drive. If you drive in San Francisco, New York City, or Chicago you can easily make $100,000+ a year, but if you drive in a small to a medium-size city then you'll be lucky to make half that amount. I stopped driving for Lyft when they took away the long-distance pick-up premium (this is where, for instance, you go 22 minutes to pick someone up, the first 12 minutes of the trip you won't get paid for, but from 13 minutes to 22 minutes (9 minutes) you'll get paid for that 9-minute difference)). Plus, I wasn't happy when Lyft dropped our take of a $5 cancelation fee from $5 to $2. Also, when Lyft stopped doing Surges and went to "Power Zones", I went from daily surges to maybe 1 or 2 times a week seeing "Power Zones" pop up to make a bonus on each trip when in those zones. Lyft has gone downhill the last few years, it used to be my favorite platform to drive on.
very true, I did like lyft when they came first, but earning is going down in Jacksonville Florida. also, for 30 dollars ride, they pat me around 14 or 15 the most. nobody tip low class people riders and they get mad thinking that I get paid 30 but lyft takes more than 50 percent
People are saying they rather be at work doing those hours. But being able to get on when you want & can get money out whenever can’t be beat! You just have to have a money grinder mindset to be successful on the ride-share platform & a lot of these people don’t from the comments I see 😅
Carefully thought on video bro. So, my market is a high density, high volume "party city" with major conventions. There are between 3 to 5 busy late NIGHTS per week with light to heavy surging and 1 to 3 DAYS with light to heavy surging. Said all that to say that after 4 months of blood and sweat, I've managed highs of $1700/wk and lows of $1200/wk with full time driving (45 to 50 hrs/week). I'm willing to try something different as you suggest but so far cherry picking has been my strategy. You really got me thinking and I'll do some more experimenting.
My goodness, fellow. I started doing Lyft 4 months ago and naturally watched many videos about the platform. You hit a Grand Slam.with tnis video.THANKS !!!
I live in Florida. I split my time either at Jacksonville, Saint Augustine, Daytona Beach or Orlando. Myself and also one of my buddies drive a Chevy traverse. Our goal every day is a minimum of $500 and just like you once a week we always have day in the 900s. Great video.
@@MARGINMAXED I would say roughly about $400. I do nothing special. I cherry pick the hell of the Orlando zone. All roads must be under 20 minutes. The second you go over 20 minutes uber start paying you based on a $30 an hour average. I only take rides that I make $2.00 a minute and less than five minutes away. Patience is the key.
I appreciate the response brother moving up near Disney area in about 10 months and need a flexible schedule so I plan on buying a new sienna hybrid and hustling up there for 50 hr weeks online
Totally doable I made 1k a handful of times on Saturdays with bonuses alone in around 10-12 hours and I have done what he did too when I worked full time but it's hard to maintain that spirit. I had a ford fiesta which I had bought for 3 thousand dollars and put additional 100000k to it didn't really cared for the car. Now I work with a subaru impreza I am only working part time but hitting 2-3 dollars a mile mainly because I drive only downtown area just short trips and maybe during the day some trips close buy if there is a nice quest out there otherwise only short trips with surge is king.
Hey everyone this is top tier stuff it takes a few years to get to this level along with a lot of experimenting, driver endurance, right car, knowing your market, and a pac man mentality. When you get to this level its hard to do anything else other than start your own business. Because no job pays this type of money 3 to 6 hundred a day with pure freedom......
I also wanted to add with high gas prices and more drivers quitting rideshare. I want to thank you all because its more money for me and drivers like me that figured this game out. Damn i love this recession proof hustle
Bullshit; bullshit; I can tell you that if someone makes 1000 dollar a day; then all engineers and phd's will be Lyft drivers; even with uber impossible to make a thousand unless someone and pay 800 dollars tip
Caution! A large portion of his income did not come from fares. It came from Streak, Bonus, Ride Bonuses and fare guarantees. These are incentives Lyft and Uber have been offering in the pandemic to get drivers back on the road. Now that the incentives have brought drivers back, in 2022, Lyft is eliminating most of this stuff. It will return to earning just the fare and on rare cases a tip. In other words, it will soon be impossible for him to make anywhere near what he made in this video. In 2021, the bonuses represented most of my earnings.
I don't believe that it will be impossible for me to make $500 regardless of incentives. As I stated in the video, it's usual for me to make $500 a day regardless of bonuses. On this particular day, I only made $18 in bonuses and $24 in streak bonuses. I was glad that this particular day didn't have a lot of streak bonuses because then I would have to deal with a lot of comments similar to yours :) My ride earnings (fare) were $394 and my tips were $35 and, due to a mistake, I received a ride fare in cash. Now, if you are referring to the almost $900 I made, I agree that I can not make that consistently. However, I can make $500 any day I want to, regardless of bonuses and I clearly expressed that in my video.
@@gsarjos, it does matter how the money was earned, as the bonuses will be diminished in the coming months, as The Handsome Liberal stated. When I started, there was an incentive for me to go out between 5 and 7pm on a weekday, it was a 15 dollar 3 trip streak bonus, now that incentive is gone.
I have to say, you have a great video full of great content. You’re well spoken and knowledgeable on the different aspects of running you’re business. Wish more people were detail oriented as you are. I’m doing this rideshare thing as a side hustle. My main gig is my own business but do to the economy I am forced to explore other avenues of financial income streams. As a business owner already, I love your taxation system on mileage and tax payments etc. Great job! You are ready for something much bigger brother. Seriously, something much bigger. God bless you and keep the good up in the airwaves!🙏❤️🥊
Contrary to taking all rides, I find myself turning down rides that take my far away from the city center. Most often there are no rides back so that means a bunch of dead miles and wasted time trying to get back to the city. Upfront pricing helps me decline these requests.
I accept rides to the airport in the morning early.... knowing that incoming passengers have not yet landed. Then ride to the nearest homes 3 miles away - then set the Lyft ap to go home or work in a particular area, using the wider scope. In the afternoon I set the app to work a specific area. not more than 15 miles wide. I stay busy, make good money and take the last ride close to my home.
Speaking on the tax portion of lyft. I have a office with a lock on the door that i use only for lyft research and keeping tabs on expenses. this allows me to count off some electric and internet on taxes. also when I travel I look for cars that i plan to buy in the future. this allows me to count off all expenses that weekend I travel out of town.
I made 620 on Uber on Friday December 10 2021 between Temecula - San Bernardino because it was surging during Rolling Loud Southern California Festival in San Bernardino.
maaaann!!!, guys jus do the math. yesterday I drove for 4 hours/ total rides earnings 62.54 $ now deduct: gas. gas per millage ( I used my odometer to see how many miles I drove) I drove 104 miles in the four hours. gas at @$ the gallon. ( my car makes 20 mpg ) deduct: wear and tear / pay taxes at the end of the year. at the end of the day I think I am getting rip off by lyft and Uber. everybody is different.
I reside in West Palm Beach Florida and the earnings potential is not as great as it is in Miami or other major cities. I spent 8 hours online and barely made $75. I don’t agree it’s worth my time with the market I’m in
@@blkdevil20 I did a quick Google maps search. It says Miami is an hour from West Palm. Driving that hour to Miami isn't worth it? I'm assuming Miami is a better area than where I live in Charleston.
All these negative comments but i started driving 3 weeks ago and im netting about 1000-1200 per week. Why are yall even watching these videos if youre not a driver?! Oh, because youre considering becoming one right?! Go hard or go home. Unemployments always an option. Or further your studies and increase your employment value.
The human body not only isn't built for sitting (let alone for long periods of time) but it isn't built to drive almost 24/7 either. If you're getting ur rest that's great just know to make sure you're alert and attentive and not tired when you're driving since you're putting passengers lives at stake should something happen and ur reaction time gets cut short. I personally drive a little everyday and part-time (about 4 hours) and take home $1,000 a week and am good knowing I make $52,000 a year. I'd rather make descent money and enjoy life instead of making lets say twice as much driving my life away.
Coming from a truck driver that drives from Los Angeles to Dallas in 2 days flat. Make sure to drink ALOT of water, stop every few hours or so, and stretch to get the blood flowing. If you take your lunch stand, your body will appreciate it. Stay safe out there, guys, and be courteous to semi-trucks, please.
Create a LLC put the vehicle under the business, apply for depreciation of the vehicle on your tax's. From there save the money to lease to purchase vehicle or etc. Put it under the business using a credit card to make the monthly payments, from there increase your credit score and save money. Calc miles and deduct them you can make more than the cars value. 100,000 miles * .40 = $40,000 not including depreciation.
bro Thanks so much for taking the time to actually make this video and explain some of the pros and cons of driving! im currently a new driver and ive already make over a 120 rides in one week! tonight is the night ill hit my $960 bonus! also im glad you debunked the theory of waiting at airports i thought myself that its a waste of time due to the fact you could of gotten 3 or 4 rides in with the time it takes to take that one passenger to the airport although some rides to the airport pays alot! God bless you bro!
I make $400 to $500 each day here in Los angeles without the streek bonuses 10 to 15 trips. I hold a class at LAX ON WEEKENDS. I have never worked 17 hours and never will. God Bless 😁😷
first, great video. Eloquent, prepped, organized and dense with valuable info. Easily the best video I have seen on the topic of driving for Lyft and I have seen hundreds. Second, you work a lot man, wish I had your drive (no pun intended). Third, good job, great video. Was so good I wanted to tell you that twice.
It’s possible people you make as mutch as you want if you don’t like to work hard you won’t make $$ look out for bonuses and it all depends on your location also . Chicago is a great place ! Great video and thanks for the info
You have to play around with the app and learn your most busiest times . + his key tip 😊 I know for a fact 15 rides a day gets me $150 max plus whatever tips come my way. And that doesn’t take me a full day at 5am Lyft is constantly going off . ( workers, medical transportation etc;)
@@fubub3595 that's 5 dollars a ride if you 6 stops in an hour you have $30+ . either you're going to slow or you're accepting low offers for high miles to travel
First , I thought you are not say the truth. After I watched full of your video and again ones , I understood what you say . And yes , I can tell to anyone, your video is say the truth and gives the advice, what is hard to find anywhere!!!! Thanks!
I’m about to start with Lyft.. Last thing to do is my Rideshare Inspection. Looking for vids like this. My head hurts after this video though lol.. #2muchmath
About to start doing Lyft. Love your videos. Question. Not that I plan to be driving 18 hr days, but about the 12 hr rule. I understand it can be broken if you take a 6hr break & then start again. BUT what if you just change ride share apps? Like drive for Lyft for 12hrs & then switch to Uber right after? Or is this rule applied across ALL apps? Thanks!
Uber doesn't communicate with Lyft about when you've been online with them so you can work 12 hrs with Lyft and switch to Uber. But I wouldn't advise it for you and everyone's safety on the road. That's dangerous. There's no reason to work 12 hrs, switch to another platform for 6 hrs, then go back to the other, without any sleep. I don't even think it's possible unless your on Meth... And if that's the case then someone will report you for strange behavior, accuse you of being intoxicated (bcz I'm sure you'll be delirious) & you'll get deactivated from the platform.
@@HKPerry-ml8to cool thanks. 👍🏼 I am also debating wether to buy a used vs new prius. Because of inflation, most used Priuses now in the years I want 2014-2017 cost almost as much as a new prius! $20k vs $25k! Plus the used one usually have upwards of 70-100k miles on them! So for only $5,000 more i can get a new prius with ZERO miles. I know about depreciation. That doesn’t concern me as I will be riding full full time and plan to make a lot of money over the next few years. Enough to cover the cost of the car with lots of profit. I know you can also rent out a car thru uber or lyft… but i prefer to own my own car.
Uber figures their 12-hour rule differently than Lyft does. Uber only counts the amount of time that you have a passenger in your vehicle towards the 12-hour rule, whereas Lyft counts the time you have the driver app online (the way it should be, in my opinion)
Uber count the time is you are online and you are moving your vehicle with or without a passenger… the better time to drive is from 4am until 9am if you are close to your house if one rides take far from your house stay until the app take you out
@@Regantdarcy check out the kia Niro is a hybrid you can get a average of 52mpg also dont have a cvt and you have 60k miles warranty bumper to bumper after that 100k miles warranty on the engine and transmission
At least you have a means to a end. I do it part time maybe one or two days a week. A lot of miles your putting on your car . Your video was very informative
If you care about the mileage in your car… what are you doing viewing this video? If you drive full time you will put 300 to 400 miles a day 2k miles a week but is you drive a economical vehicle $35k or less if you make $2k a week that is $104k a year you can buy a new vehicle every year brand new but you can drive the same vehicle 2 or 3 years if you continue driving the same way each vehicle will make you $300k+
Tristan, you gave me a tonne of interesting ideas to consider. I wish you the very best in achieving the zero debt goal you have set for yourself. I think that is a the best way to move forward.
Scale it based on your obligations. Figure out how much money you can make per hour in your market and then figure out how many hours you can work. Based on my numbers, if I could only work 20 hours, I know that's around $500. IF you can do 40 hours, it'll be around $1000.
If you work in Waikiki, you can get rides via queue, but that take a lot longer time for mostly short rides, unless you are heading to the airport. I also try to do one or two, but better to work outside of that tourist destination. I agree hanging at the airport queue, isn't always the best way to make money, especially during off times. But, during peak times, usually can make money.
YOUR LOCATION LOCATION LOCATION IS VERY IMPORTANT INFO, BRO!! You left out a very important figure! Your LOCATION!! Not everyone will make the same as you even in the same city! You have to be in the right market and the right vehicle and know your market to make that kind of money! Are you driving only LyftX or do you also do XL, Lux, or Lux Black? Again, that's a very important detail you left out!
In addition look at the fees Lyft and Uber take from our earnings each year. Crazy we easily loose 50 to 65 percent of our earnings. It is good for a weekend side deal. But to go full metal jacket. That’s insanely crazy
I made $511 in one day with Uber very little boost maybe some $1 boost but mostly regular pay. Just put in the time and rest 6r break during the slow time in your city!
I’ve been doing Lyft for almost a month. City size I believe is important. I live in a small midWestern city and by the way it looks, I can rake in 3-4K a month.
@@Stevenimich Just looked at a map. You are surrounded by three other bigger cities. Have you tried driving in those cities? Cincinnati might be your best bet.
@@FutureRideshareMillionaire I’ve driven in Columbus, but not Cincinnati yet. What I like about Dayton is that it’s got a very active rider market. It’s small, but strong. The airport not crowded with Uber/Lyft drivers so the queue isn’t very big like Columbus or Cincinnati. The money I can make in a week is even more money or equal than I would get on the 1st or 15th of the month from my previous job and it was an awesome job that brought in 70-80K and as much as 110K depending on what I was doing (but I received bonuses a lot). I just decided to retire early and doing this Lyft stuff has been pretty fun for me so far and it’s been only a month.
Remember when you are on your way to picking up a passenger and have them in your car until the trip is completed, if you wreck and cause the wreck it's $2,500 deductible.
Love this video, also want to know are you still making this dough today or did the rate go down? Also what market are you in? Thanks ! Just thinking of driving soon here in Canada as it opens up in our market
Good stuff. But how will you maintain that 120k per year? Are you really going to drive 18 hours per day forever? How long can one work so much and actually consider that a life? 8 hours a day is my max. I appreciate the info here and will use it!
Hey man! Great video. Very informative. Like you, I am about to jump into ride sharing to pay down some debt. Got a ton of questions. But I’ll keep it brief. Do you mix apps? Like Lyft & Uber? As well as throw in some delivery apps to to mix it up? About the car, I am environmentally conscious & was gonna go electric(Nissan Leaf) but with a 200 mile range & 45 minute charge time, to pull & 800 mile day might be logistically impossible 😂 So going with a used Toyota Prius hybrid. Does Lyft limit the age of the car? I was thinking something btwn a 2011 & 2015. Is a dashcam a must? And if so any recommendations on model? Thanks man! ✌🏼
Its based on the market, so you have to look it up on uber/lyft in your area... Generally it doesn't make sense to mix the apps, you will get weekly bonuses with Lyft that require you to drive a certain amount of rides to get that bonus. Uber does a 3 day bonus for weekends and 4 day for weekdays. To maximize your hourly earnings you want to hit your Quest/bonuses. I do hit up ubereats once a while as well for a change of pace, and all you need to do is turn on your preferences. I've driven without a dashcam, but I don't drive during crazy hours on the weekends when you'll get someone that's going clubbing or going home from the club(That is the best time to earn though), I just don't want the headache/anxiety for 3 hrs of 30 plus per hour. Try the other apps like DoorDash, Lyft, Instacart, and see what you like more. Clientelle might be different between uber and Lyft. If you are close to an airport perhaps try going there and catching a ride a few times to see the earnings and difference between regular joes, and the professional/traveler. Check out rideshare professor for the dashcam, try it out with the leaf before purchasing a Prius, but with todays prices It's probably a smart investment that you could try flipping if gas goes to 6+...
Uber is paying $1 extra per ride if you have a ev but if you only have 200miles per charge don’t do longer rides the ones with 45+ minutes… if you can charge your vehicle in your house is a plus you can drive in the morning 4am to 9am then go to you house and go again 4pm to 10pm if you stay only local you can make like $200 in the morning and $200+ in the evening and only spend like $10 on electricity in your house a day
I guess that means I have 14 days in my week 😋 I'm not sure what rule governs what constitutes as a work day, but I'm sure that everyone gets 365 days in a year and there's nothing you can do to change that. If you're limiting yourself to 8.5 hours if work a day, then you're potentially limiting yourself. I touched on this a little in the video...changing my mindset to how much I can make per day rather than how much I can make per hour has resulted in me making more money than I ever have. At some point, the goal will be to make the same or more money in less time. We have to break away from "normal" perceptions to get there. I'm in the Charleston market.
@@FutureRideshareMillionaire thanks for letting me know where you are. I also achieved $800 in 17 hours. But 17 hours is not a normal work day is my point. It's really 2 days of normal work.
@@FutureRideshareMillionaire that was extremely helpful the question that you asked Lyft about if they offer bonuses tailored to driver behavior! I think this is the secret key to everything! Do you accept every ride even ones that are 18 or 22 minutes away?
Usually the streak bonuses appear on a daily basis, today I noticed that I'm on platinum with points. I'm confused, can you give me some advice? Sorry I haven't had a chance to see the whole video. Thank you in advance.
You are forgetting something very basic in your daily costs calculations… Tires replacements or depreciation prorated as well as your VERY IMPORTANT Vehicle depreciation and car payment as well as your personal time cost.
This video is 2 years old. Last year they had great bonus and ride challenges. Today, in Jan 2024 ride challenges, bonus and streaks are non-existent, at least in my market. They have become oversaturated with drivers and no longer need to entice anyone to drive since drivers will go out there anyway. Lyft is great if you want to drive sick medicaid patients home from the hospital. And if you think driving lyft Extra Comfort or Black will increase your pay, you be fooling yourself and sitting around for hours waiting for the lone Lyft black request. I used to have a car that qualified as Black and only got those requests during peak surge times, and I found out why. That was because on the lyft app when it is surging, the Black rides cost about the same as the standard Lyft so there is no difference for the passenger.
I've been driving cabs for 20 years plus 4 years with with one of the rideshare companies I don't want to state which one, unfortunately I happen to work in one of the worst markets in the United States and you would think Orlando is fantastic but it is so overcrowded with drivers making $200 is only top driver status out here and I know all the cities that are Killin it making double and triple on a daily basis, but I get $200 in 8 hours and we go long stretches of time with no bonus streaks because there's too many drivers‼️😣
Same bro, I stay in Kissimmee I drive all the way to Altimonte spring rideshare around there I usually leave with 350. There’s good rides out there and around 8pm the rides are back to back non stop. Just be careful cause there’s some shitty long distance rides.
@@regularpaul8142 exactly make $44 going all the way out to Haines City getting no tip now you're basically 32mi from even Disneyland stuck in a dead zone
@@ramzdalastpharoah exactly, you would think being in the biggest tourist state we would make a lot more. My cousin drives all the way to Tampa/clear water and says he makes 3x more than he does in Orlando. I just can’t imagine driving 2 hrs just to drive 8 hrs then drive 2 hrs home.
The problem is with the greater Orlando area too many people have tasted that $300 and a 9 hour shift and decided to make it a full-time job and once again we are way overcrowded with drivers and greater Orlando is probably one of the few markets that is I actually read it's the worst market to currently be driving in you can go from 200 day to 65 the next day those type of things did not happen to me up until the last 6weeks never before +gas is up so far eight and a half percent with no increase from the rideshare company 🎯
Because they only pay $0.56 per mile,that's not the case in most states,they pay over a dollar per mile,that will make a huge difference ⛔️⛔️⛔️⛔️⛔️⛔️⛔️⛔️⛔️
3:12 ive never ever had a Challenge Bonus in my 3 years of driving. ive had "Guaranteed earnings" a few times, like do 30 rides get a guaranteed $450 and all the streaks are now "streak zones" and those are usually $9 for a 3 ride streak.. and i live not too far from the bay area. bonuses are really rare for me. guess my city sucks
Thank you for your vids~ I am starting with Lyft Express this Monday. Lyft has no way to communicate with them so I'm trying to get info on TH-cam. I'm hearing that if you do 75 miles in a week you get a big discount & if you do over 100 you get additional discount. You are VERY high volume~ do you get a big discount on your rental? Also I'm in Las Vegas~ which city are you in? Thank you~
@@FutureRideshareMillionaire A program from Lyft where you can rent one of their cars if you do not have a qualifying car of your own (within 10yrs old, sedan, everything works). I did it for a week & it's just too expensive~ $300/wk. That plus gas and you have to do 50 rides before you even break even. No more discount for number of rides (that was during pandemic).
What about vehicle depreciation expense? It is one of the biggest expenses. Simply a 3 year old car with 150000 miles is worth much much less one with 36000 miles. It isn’t realized until trade in or sale, but must be considered when calculating real profit
I don't think in terms of depreciation because I don't plan to sell my car. I can make more money driving my car until the wheels fall off than I can selling my car. The way I do look at it is like this: If I paid $10k for my car (which I did) and I made $100k in a year, then I netted $90k on the car. The car will probably last me 3 years. So in year 2 and year 3, my expenses on the purchasing of a car are 0. However, I would still set about $10k in cash to buy my next car. Deprecation doesn't matter when you run your business this way which is the way I recommend.
I just did a quick analysis in my area. 2016 Electra with 47000 and another with 84000 has a price difference of about $1600. Multiple that by 2.5 to account for roughly 100k mile difference and value only changes by about $4k. Which means you can account for depreciation in short time if done correctly (not to mention tax deductions)
Why are you so attached to your car? You can always replace a car. Trade it in for a newer one. If something is making you money 💴 don’t worry to much about the “ depreciation” I’ve had 4 cars since I’ve been doing Uber for many years. Who cares. It’s part of the job. If you want to conserve your car for the next 10 years then you need a different job we’re you go to work and back home and to the super market. You have to get rid of the Scarcity mentality.
In my market, only a few days a week Lyft offers a $12-15 streak bonus. But no surge at all, ever. I make far more from Uber’s quest bonuses. Smaller market
I really wish I could try Uber but they won't approve me for it. I've found that if their are no bonuses in my market, it's still possible to make $500 it just requires much more time.
@@FutureRideshareMillionaire I drive a Yukon XL, I can only afford to do XL and Lux with a tank of gas costing me $90. Yesterday, on a Saturday I worked from 4pm to midnight and only made $110. That’s extremely slow. I made $600 on NYE and usually work 4 pm to 3:30 am. So I understand it’s a limit because of my choice to not do Lyft or Uber X. Does Lyft do surge pricing in your market?
Good information. Is Lyft still paying that well. I drive for both platforms and in my town Uber is king. But when Uber gets slow I go see what Lyft is up to and if it is active I drive Lyft
I worked 14 hours yesterday and made $420 without bonuses (I did get a few good hotspots). It's definitely not as strong as before, but if I put the effort in, it's still good money.
Yeah, sure. So the government allows us to write of 56 cents for every mile we drive. So if I drive 1000 miles and made $800, I can write off $560. That means I wouldn't owe taxes for $560. So $800 (how much I made) - $560 (tax write off) = $240 (the amount I would have to pay tax on).
Thanks for the tips, I have a Suburban and just started driving Lyft, it seems like I am averaging 25-30 per hour or 130 per weekday and 250 each Friday and 250 on Saturday based on 4-6 hour booked time. Any tips to optimize XLT?
If your suburban is black and 2017 or newer do only lux black and black suv ride… goin to be like 10 rides a day or less but you will make a lot of money with a little drive a day if your suburban is 2015 to 2016 do only xl and regular lux if your city don’t have lux rides I recommend to change your vehicle to a minivan or something like that or check your nearest city that have lux rides and go there
![BOWKYLION - วิงวอน (ex-change) [Official MV]](http://i.ytimg.com/vi/cLdnZWDaO-w/mqdefault.jpg)
One very important point that was left out is where you drive. If you drive in San Francisco, New York City, or Chicago you can easily make $100,000+ a year, but if you drive in a small to a medium-size city then you'll be lucky to make half that amount. I stopped driving for Lyft when they took away the long-distance pick-up premium (this is where, for instance, you go 22 minutes to pick someone up, the first 12 minutes of the trip you won't get paid for, but from 13 minutes to 22 minutes (9 minutes) you'll get paid for that 9-minute difference)). Plus, I wasn't happy when Lyft dropped our take of a $5 cancelation fee from $5 to $2. Also, when Lyft stopped doing Surges and went to "Power Zones", I went from daily surges to maybe 1 or 2 times a week seeing "Power Zones" pop up to make a bonus on each trip when in those zones. Lyft has gone downhill the last few years, it used to be my favorite platform to drive on.
Considering higher fuel and cost of living I don't envy him
And also he was online for 17 hours. That's 2 full time jobs in one day. I couldn't do it. Make that in 8 hours and I'll pay attention.
I'll do lyft next...I owe money for overcharged rental
very true,
I did like lyft when they came first, but earning is going down in Jacksonville Florida.
also, for 30 dollars ride, they pat me around 14 or 15 the most.
nobody tip low class people riders and they get mad thinking that I get paid 30 but lyft takes more than 50 percent
Yeah, I drive in Nashville and make about 300 a day
People are saying they rather be at work doing those hours. But being able to get on when you want & can get money out whenever can’t be beat! You just have to have a money grinder mindset to be successful on the ride-share platform & a lot of these people don’t from the comments I see 😅
You're the example of the type of people I want watching my content.
Carefully thought on video bro. So, my market is a high density, high volume "party city" with major conventions. There are between 3 to 5 busy late NIGHTS per week with light to heavy surging and 1 to 3 DAYS with light to heavy surging. Said all that to say that after 4 months of blood and sweat, I've managed highs of $1700/wk and lows of $1200/wk with full time driving (45 to 50 hrs/week). I'm willing to try something different as you suggest but so far cherry picking has been my strategy. You really got me thinking and I'll do some more experimenting.
My goodness, fellow. I started doing Lyft 4 months ago and naturally watched many videos about the platform. You hit a Grand Slam.with tnis video.THANKS !!!
My guy! thank you for the raw honesty. About to start being a Lyft driver and this helped so much
Did you start driving for Lyft? Just curious
Brother YOUR INFO is ON point! Keep BLESSING family! BLESSING WILL FOLLOW! Great WORK!
I generally don't go to Chicago because it's 40 miles away, but when a trip takes me there on a busy night, I make bank.
I live in Florida. I split my time either at Jacksonville, Saint Augustine, Daytona Beach or Orlando. Myself and also one of my buddies drive a Chevy traverse. Our goal every day is a minimum of $500 and just like you once a week we always have day in the 900s. Great video.
What areas are the best out of Jax. St Augustine. Daytona Beach or Orlando?
It's go by Market place not every market same all different
Armando is xl the best for rideshare in Orlando? How much can I average a day working 10 hours?
@@MARGINMAXED I would say roughly about $400. I do nothing special. I cherry pick the hell of the Orlando zone. All roads must be under 20 minutes. The second you go over 20 minutes uber start paying you based on a $30 an hour average. I only take rides that I make $2.00 a minute and less than five minutes away. Patience is the key.
I appreciate the response brother moving up near Disney area in about 10 months and need a flexible schedule so I plan on buying a new sienna hybrid and hustling up there for 50 hr weeks online
Totally doable I made 1k a handful of times on Saturdays with bonuses alone in around 10-12 hours and I have done what he did too when I worked full time but it's hard to maintain that spirit. I had a ford fiesta which I had bought for 3 thousand dollars and put additional 100000k to it didn't really cared for the car. Now I work with a subaru impreza I am only working part time but hitting 2-3 dollars a mile mainly because I drive only downtown area just short trips and maybe during the day some trips close buy if there is a nice quest out there otherwise only short trips with surge is king.
What market do you drive in? I’m envious. I’m in Sarasota, FL. It’s a smaller market
Nice. I got a 2019 subaru outback it gets 450 miles on a tank and I love it. Great in the snow I drive in Toronto and make pretty good coin.
Hey everyone this is top tier stuff it takes a few years to get to this level along with a lot of experimenting, driver endurance, right car, knowing your market, and a pac man mentality. When you get to this level its hard to do anything else other than start your own business. Because no job pays this type of money 3 to 6 hundred a day with pure freedom......
I also wanted to add with high gas prices and more drivers quitting rideshare. I want to thank you all because its more money for me and drivers like me that figured this game out. Damn i love this recession proof hustle
I can’t stand a negative, lack, poverty, employee mindset! ANYTHING IS POSSIBLE!!
Uhhh I make more than that a day my friend
No it doesn’t
Bullshit; bullshit; I can tell you that if someone makes 1000 dollar a day; then all engineers and phd's will be Lyft drivers; even with uber impossible to make a thousand unless someone and pay 800 dollars tip
I am so proud of you, I like your ambitions, and also your kindness to share what you have to us.
Caution!
A large portion of his income did not come from fares. It came from Streak,
Bonus, Ride Bonuses and fare guarantees. These are incentives Lyft and Uber have been offering in the pandemic to get drivers back on the road.
Now that the incentives have brought drivers back, in 2022, Lyft is eliminating most of this stuff. It will return to earning just the fare and on rare cases a tip.
In other words, it will soon be impossible for him to make anywhere near what he made in this video. In 2021, the bonuses represented most of my earnings.
I don't believe that it will be impossible for me to make $500 regardless of incentives.
As I stated in the video, it's usual for me to make $500 a day regardless of bonuses. On this particular day, I only made $18 in bonuses and $24 in streak bonuses. I was glad that this particular day didn't have a lot of streak bonuses because then I would have to deal with a lot of comments similar to yours :)
My ride earnings (fare) were $394 and my tips were $35 and, due to a mistake, I received a ride fare in cash.
Now, if you are referring to the almost $900 I made, I agree that I can not make that consistently. However, I can make $500 any day I want to, regardless of bonuses and I clearly expressed that in my video.
Here's a video of me making good money during the slow season: th-cam.com/video/Rlcwm_c53mk/w-d-xo.html
It doesn't matter how the money was earned while driving, what matters is what you earn during your shift
Incentives is part of the pay. Most jobs offer incentives. If your don't you need a better job.
@@gsarjos, it does matter how the money was earned, as the bonuses will be diminished in the coming months, as The Handsome Liberal stated. When I started, there was an incentive for me to go out between 5 and 7pm on a weekday, it was a 15 dollar 3 trip streak bonus, now that incentive is gone.
I have to say, you have a great video full of great content. You’re well spoken and knowledgeable on the different aspects of running you’re business. Wish more people were detail oriented as you are. I’m doing this rideshare thing as a side hustle. My main gig is my own business but do to the economy I am forced to explore other avenues of financial income streams. As a business owner already, I love your taxation system on mileage and tax payments etc. Great job! You are ready for something much bigger brother. Seriously, something much bigger. God bless you and keep the good up in the airwaves!🙏❤️🥊
Contrary to taking all rides, I find myself turning down rides that take my far away from the city center. Most often there are no rides back so that means a bunch of dead miles and wasted time trying to get back to the city. Upfront pricing helps me decline these requests.
yeah, i am NOT a fan of upfront pricing
I accept rides to the airport in the morning early.... knowing that incoming passengers have not yet landed. Then ride to the nearest homes 3 miles away - then set the Lyft ap to go home or work in a particular area, using the wider scope. In the afternoon I set the app to work a specific area. not more than 15 miles wide. I stay busy, make good money and take the last ride close to my home.
Speaking on the tax portion of lyft. I have a office with a lock on the door that i use only for lyft research and keeping tabs on expenses. this allows me to count off some electric and internet on taxes. also when I travel I look for cars that i plan to buy in the future. this allows me to count off all expenses that weekend I travel out of town.
I made 620 on Uber on Friday December 10 2021 between Temecula - San Bernardino because it was surging during Rolling Loud Southern California Festival in San Bernardino.
maaaann!!!, guys jus do the math.
yesterday I drove for 4 hours/ total rides earnings 62.54 $
now deduct: gas. gas per millage ( I used my odometer to see how many miles I drove) I drove 104 miles in the four hours. gas at @$ the gallon. ( my car makes 20 mpg )
deduct: wear and tear / pay taxes at the end of the year.
at the end of the day I think I am getting rip off by lyft and Uber.
everybody is different.
Yeah, 4 hours for $62 is on the low end for sure. What market are you in? Do you get bonuses at all?
What time did you drive?
I reside in West Palm Beach Florida and the earnings potential is not as great as it is in Miami or other major cities. I spent 8 hours online and barely made $75. I don’t agree it’s worth my time with the market I’m in
@@blkdevil20 I did a quick Google maps search. It says Miami is an hour from West Palm. Driving that hour to Miami isn't worth it? I'm assuming Miami is a better area than where I live in Charleston.
All these negative comments but i started driving 3 weeks ago and im netting about 1000-1200 per week. Why are yall even watching these videos if youre not a driver?! Oh, because youre considering becoming one right?! Go hard or go home. Unemployments always an option. Or further your studies and increase your employment value.
Oh hey fellow North Charleston Lyft driver I thought that map of the airport looked familiar lol
Great production quality and content I appreciate you sending this to me!
The human body not only isn't built for sitting (let alone for long periods of time) but it isn't built to drive almost 24/7 either. If you're getting ur rest that's great just know to make sure you're alert and attentive and not tired when you're driving since you're putting passengers lives at stake should something happen and ur reaction time gets cut short.
I personally drive a little everyday and part-time (about 4 hours) and take home $1,000 a week and am good knowing I make $52,000 a year. I'd rather make descent money and enjoy life instead of making lets say twice as much driving my life away.
52,000 a year isn't decent....
Just sounds like your bar is set too low for your life. To each his own I guess.
That's okay. Not everyone wants to live a mundane life.
You’d be surprised how well your body can adjust.
Coming from a truck driver that drives from Los Angeles to Dallas in 2 days flat. Make sure to drink ALOT of water, stop every few hours or so, and stretch to get the blood flowing. If you take your lunch stand, your body will appreciate it. Stay safe out there, guys, and be courteous to semi-trucks, please.
@@luisespin533 stay in the far right lane
wow thats a nice bonus ,wish they would do that in houston
I haven't seen it since mid pandemic. I had it for like 10 weeks straight. Didn't take advantage of it enough.
Incredible results!
Create a LLC put the vehicle under the business, apply for depreciation of the vehicle on your tax's. From there save the money to lease to purchase vehicle or etc. Put it under the business using a credit card to make the monthly payments, from there increase your credit score and save money. Calc miles and deduct them you can make more than the cars value. 100,000 miles * .40 = $40,000 not including depreciation.
bro Thanks so much for taking the time to actually make this video and explain some of the pros and cons of driving! im currently a new driver and ive already make over a 120 rides in one week! tonight is the night ill hit my $960 bonus! also im glad you debunked the theory of waiting at airports i thought myself that its a waste of time due to the fact you could of gotten 3 or 4 rides in with the time it takes to take that one passenger to the airport although some rides to the airport pays alot! God bless you bro!
I make $400 to $500 each day here in Los angeles without the streek bonuses 10 to 15 trips. I hold a class at LAX ON WEEKENDS. I have never worked 17 hours and never will. God Bless 😁😷
Lies
To make that money u need long rides From lax then u need to come back so u need more than 8hr a day to make that money there I work lax 2
Yeah. Why are you lying. There's no way. I smell bs.
Make sure you LYFT up these like buttons!
I am preparing for my ride share journey and this channel will be helpful. Thank you sir.
In the bay this is very possible! I drive like 2 hours in Frisco early in the morning 5 am, I make like $150 in two hours.
Frisco Texas?
@@seanpaul4101San Francisco
This is the most authentic Lyft video I've seen. Awesome content thanks for the detailed breakdown and providing a positive outlook,
Welcome to $4+++ ⛽ Thanks Joe!
first, great video. Eloquent, prepped, organized and dense with valuable info. Easily the best video I have seen on the topic of driving for Lyft and I have seen hundreds. Second, you work a lot man, wish I had your drive (no pun intended). Third, good job, great video. Was so good I wanted to tell you that twice.
Shiiiiit. I’m not driving 12 hours straight. Godspeed.
It gets easier! Plus, I enjoy driving. I wouldn't recommend this to someone who doesn't.
This is bay far the most informative lyft video I have watched now
I agree
It’s possible people you make as mutch as you want if you don’t like to work hard you won’t make $$ look out for bonuses and it all depends on your location also . Chicago is a great place ! Great video and thanks for the info
Bro thanks for this info I’m starting today and this was great to watch
You should be two weeks in now. How has it been?
I've got some more tips for you: th-cam.com/video/Rlcwm_c53mk/w-d-xo.html
You have to play around with the app and learn your most busiest times . + his key tip 😊 I know for a fact 15 rides a day gets me $150 max plus whatever tips come my way. And that doesn’t take me a full day at 5am Lyft is constantly going off . ( workers, medical transportation etc;)
I did 9 rides , about 3hours online with uber ended up with only 45 dollars 💔💔💔
@@fubub3595 you have to drive when is busy
@@fubub3595 that's 5 dollars a ride if you 6 stops in an hour you have $30+ . either you're going to slow or you're accepting low offers for high miles to travel
@@drehunnid3788 low offer ,i thought the rates are the same for everyone, only bonus can change depends on the day or how lu been in business
@@fubub3595 different rides can be different prices, an $8 ride vs a $12 ride for example
You are an inspiration I don’t know how you physically do it
I’m not a tax expert. But if you use the miles deduction you can’t not put any maintenance or gas or tolls. It’s one or the other.
You are right
Unless he's cheating the system and hasn't been caught
First , I thought you are not say the truth. After I watched full of your video and again ones , I understood what you say . And yes , I can tell to anyone, your video is say the truth and gives the advice, what is hard to find anywhere!!!! Thanks!
Tell them this video is the truth too! th-cam.com/video/Rlcwm_c53mk/w-d-xo.html
Awesome information
Thank you Triatan, this video is very helpful as I started with Lyft 2 weeks ago.
Great video! Love the improved production quality
Thanks! I've been working really hard on getting better each video. Ok glad it's showing!
thank you for such an amazing and detailed video.
No problem! I even have an updated version of this video with way more tips:
th-cam.com/video/Rlcwm_c53mk/w-d-xo.html
I’m about to start with Lyft.. Last thing to do is my Rideshare Inspection. Looking for vids like this. My head hurts after this video though lol.. #2muchmath
About to start doing Lyft. Love your videos. Question. Not that I plan to be driving 18 hr days, but about the 12 hr rule. I understand it can be broken if you take a 6hr break & then start again. BUT what if you just change ride share apps? Like drive for Lyft for 12hrs & then switch to Uber right after? Or is this rule applied across ALL apps? Thanks!
Uber doesn't communicate with Lyft about when you've been online with them so you can work 12 hrs with Lyft and switch to Uber. But I wouldn't advise it for you and everyone's safety on the road. That's dangerous. There's no reason to work 12 hrs, switch to another platform for 6 hrs, then go back to the other, without any sleep. I don't even think it's possible unless your on Meth... And if that's the case then someone will report you for strange behavior, accuse you of being intoxicated (bcz I'm sure you'll be delirious) & you'll get deactivated from the platform.
@@HKPerry-ml8to cool thanks. 👍🏼 I am also debating wether to buy a used vs new prius. Because of inflation, most used Priuses now in the years I want 2014-2017 cost almost as much as a new prius! $20k vs $25k! Plus the used one usually have upwards of 70-100k miles on them! So for only $5,000 more i can get a new prius with ZERO miles. I know about depreciation. That doesn’t concern me as I will be riding full full time and plan to make a lot of money over the next few years. Enough to cover the cost of the car with lots of profit. I know you can also rent out a car thru uber or lyft… but i prefer to own my own car.
Uber figures their 12-hour rule differently than Lyft does. Uber only counts the amount of time that you have a passenger in your vehicle towards the 12-hour rule, whereas Lyft counts the time you have the driver app online (the way it should be, in my opinion)
Uber count the time is you are online and you are moving your vehicle with or without a passenger… the better time to drive is from 4am until 9am if you are close to your house if one rides take far from your house stay until the app take you out
@@Regantdarcy check out the kia Niro is a hybrid you can get a average of 52mpg also dont have a cvt and you have 60k miles warranty bumper to bumper after that 100k miles warranty on the engine and transmission
Easily the best video on lyft. Thanks man.
Easily the best comment on my channel!
Nah, it's now the second best video. Here's the current best: th-cam.com/video/Rlcwm_c53mk/w-d-xo.html
Love to chat one-on-one. I've been a driver for 4 years. 2019 Lyft Driver of the Year for Customer Service in the Washington DC market.
How can we make this happen?
Would love to converse with you as well!
@@danielmisgana2672 maybe it's time I make a discord 🤔
@@FutureRideshareMillionaire I’d join, do it!
Lol no your not, I'm a sponsored driver for Sony and Uber with contacts through doordash, I know who's who
Very well explained 👍 Very good advise 👍
Really informative video, eloquently said and I learned a lot. Thumbs up 👍🏽!
great video, thanks
Thank you for watching and for commenting. Have you seen the video on Skeddy that I made? That'll help increase your earnings too.
Those new driver bonuses are great aren't they. Enjoy em while they last
I've been enjoying them for 3 years.
@@FutureRideshareMillionaire sounds about right.
Love bro🙏🏽
Question you said you start at 5am-5pm then 11pm-11am my question is after you done at 11 am do you go back at 5pm or wait to start at 5am again ???
At least you have a means to a end. I do it part time maybe one or two days a week. A lot of miles your putting on your car . Your video was very informative
who cares about miles if you're making 500 a day? you can easily just buy a new car making 3k a week
If you care about the mileage in your car… what are you doing viewing this video? If you drive full time you will put 300 to 400 miles a day 2k miles a week but is you drive a economical vehicle $35k or less if you make $2k a week that is $104k a year you can buy a new vehicle every year brand new but you can drive the same vehicle 2 or 3 years if you continue driving the same way each vehicle will make you $300k+
love this!!! Might get back into it!
It's a lie. Depends on where. Texas is slaw!!! I'm getting off this plat form and focus on something better and guarantee
Tristan, you gave me a tonne of interesting ideas to consider. I wish you the very best in achieving the zero debt goal you have set for yourself. I think that is a the best way to move forward.
Glad to have inspired! This might inspire you more: th-cam.com/video/Rlcwm_c53mk/w-d-xo.html
Thank you this was helpful.
That's awesome.
This was a really great video! Thank you!
This only works if someone works 18 hours a day 7 DAYS A WEEK. my other obligations won’t allow me to do that.
Scale it based on your obligations. Figure out how much money you can make per hour in your market and then figure out how many hours you can work.
Based on my numbers, if I could only work 20 hours, I know that's around $500. IF you can do 40 hours, it'll be around $1000.
If you work in Waikiki, you can get rides via queue, but that take a lot longer time for mostly short rides, unless you are heading to the airport. I also try to do one or two, but better to work outside of that tourist destination. I agree hanging at the airport queue, isn't always the best way to make money, especially during off times. But, during peak times, usually can make money.
Thank you for this very insightful video!!
Great info ty bro
YOUR LOCATION LOCATION LOCATION IS VERY IMPORTANT INFO, BRO!!
You left out a very important figure! Your LOCATION!!
Not everyone will make the same as you even in the same city! You have to be in the right market and the right vehicle and know your market to make that kind of money!
Are you driving only LyftX or do you also do XL, Lux, or Lux Black? Again, that's a very important detail you left out!
In addition look at the fees Lyft and Uber take from our earnings each year. Crazy we easily loose 50 to 65 percent of our earnings. It is good for a weekend side deal. But to go full metal jacket. That’s insanely crazy
I made $511 in one day with Uber very little boost maybe some $1 boost but mostly regular pay. Just put in the time and rest 6r break during the slow time in your city!
But is that gross profit or net, if it’s not net what is the net amount?
Very informative video. Thank you
Hey what camera are you using the camera quality is on point
I’ve been doing Lyft for almost a month. City size I believe is important. I live in a small midWestern city and by the way it looks, I can rake in 3-4K a month.
What city do you live in?
@@FutureRideshareMillionaire I live in Dayton, Ohio
@@Stevenimich Just looked at a map. You are surrounded by three other bigger cities. Have you tried driving in those cities? Cincinnati might be your best bet.
@@FutureRideshareMillionaire I’ve driven in Columbus, but not Cincinnati yet. What I like about Dayton is that it’s got a very active rider market. It’s small, but strong. The airport not crowded with Uber/Lyft drivers so the queue isn’t very big like Columbus or Cincinnati. The money I can make in a week is even more money or equal than I would get on the 1st or 15th of the month from my previous job and it was an awesome job that brought in 70-80K and as much as 110K depending on what I was doing (but I received bonuses a lot). I just decided to retire early and doing this Lyft stuff has been pretty fun for me so far and it’s been only a month.
Great explanation. TY.
Thank you so much great video very informative and thank you for the tips you share I’m new to Lyft and ready to start 😊
The hardest part is going online for the first time but I promise that once you do your first ride, all the nervousness will go away!
Checking back in, how has it been?
Remember when you are on your way to picking up a passenger and have them in your car until the trip is completed, if you wreck and cause the wreck it's $2,500 deductible.
I have an emergency fund.
Love this video, also want to know are you still making this dough today or did the rate go down? Also what market are you in? Thanks ! Just thinking of driving soon here in Canada as it opens up in our market
Good stuff. But how will you maintain that 120k per year? Are you really going to drive 18 hours per day forever? How long can one work so much and actually consider that a life? 8 hours a day is my max. I appreciate the info here and will use it!
18 hrs a day everyday is not gonna last
Hey man! Great video. Very informative. Like you, I am about to jump into ride sharing to pay down some debt. Got a ton of questions. But I’ll keep it brief. Do you mix apps? Like Lyft & Uber? As well as throw in some delivery apps to to mix it up? About the car, I am environmentally conscious & was gonna go electric(Nissan Leaf) but with a 200 mile range & 45 minute charge time, to pull & 800 mile day might be logistically impossible 😂 So going with a used Toyota Prius hybrid. Does Lyft limit the age of the car? I was thinking something btwn a 2011 & 2015. Is a dashcam a must? And if so any recommendations on model? Thanks man! ✌🏼
Its based on the market, so you have to look it up on uber/lyft in your area... Generally it doesn't make sense to mix the apps, you will get weekly bonuses with Lyft that require you to drive a certain amount of rides to get that bonus. Uber does a 3 day bonus for weekends and 4 day for weekdays. To maximize your hourly earnings you want to hit your Quest/bonuses. I do hit up ubereats once a while as well for a change of pace, and all you need to do is turn on your preferences. I've driven without a dashcam, but I don't drive during crazy hours on the weekends when you'll get someone that's going clubbing or going home from the club(That is the best time to earn though), I just don't want the headache/anxiety for 3 hrs of 30 plus per hour. Try the other apps like DoorDash, Lyft, Instacart, and see what you like more. Clientelle might be different between uber and Lyft. If you are close to an airport perhaps try going there and catching a ride a few times to see the earnings and difference between regular joes, and the professional/traveler. Check out rideshare professor for the dashcam, try it out with the leaf before purchasing a Prius, but with todays prices It's probably a smart investment that you could try flipping if gas goes to 6+...
Uber is paying $1 extra per ride if you have a ev but if you only have 200miles per charge don’t do longer rides the ones with 45+ minutes… if you can charge your vehicle in your house is a plus you can drive in the morning 4am to 9am then go to you house and go again 4pm to 10pm if you stay only local you can make like $200 in the morning and $200+ in the evening and only spend like $10 on electricity in your house a day
Great, quality information. Thank you.
17 hours working is not one day. It is really two days. So you made $430 in 8.5 hours. That's excellent. But what market do you live in?
I guess that means I have 14 days in my week 😋
I'm not sure what rule governs what constitutes as a work day, but I'm sure that everyone gets 365 days in a year and there's nothing you can do to change that.
If you're limiting yourself to 8.5 hours if work a day, then you're potentially limiting yourself.
I touched on this a little in the video...changing my mindset to how much I can make per day rather than how much I can make per hour has resulted in me making more money than I ever have. At some point, the goal will be to make the same or more money in less time. We have to break away from "normal" perceptions to get there.
I'm in the Charleston market.
@@FutureRideshareMillionaire thanks for letting me know where you are. I also achieved $800 in 17 hours. But 17 hours is not a normal work day is my point. It's really 2 days of normal work.
@@FutureRideshareMillionaire that was extremely helpful the question that you asked Lyft about if they offer bonuses tailored to driver behavior! I think this is the secret key to everything! Do you accept every ride even ones that are 18 or 22 minutes away?
Charleston where? SC? WV? MA?
Great video!
Usually the streak bonuses appear on a daily basis, today I noticed that I'm on platinum with points. I'm confused, can you give me some advice? Sorry I haven't had a chance to see the whole video. Thank you in advance.
I've noticed that being platinum gives you more bonuses and sometimes those bonuses are day by day.
You are forgetting something very basic in your daily costs calculations… Tires replacements or depreciation prorated as well as your VERY IMPORTANT Vehicle depreciation and car payment as well as your personal time cost.
Used cars hold no real value anyways
Hey man thanks your videos I'm planning to start lyft only on weekends Saturdays and Sundays to see how it will go plz I need advice
HOW IN ONE DAY!!!!! What city?
This video is 2 years old. Last year they had great bonus and ride challenges. Today, in Jan 2024 ride challenges, bonus and streaks are non-existent, at least in my market. They have become oversaturated with drivers and no longer need to entice anyone to drive since drivers will go out there anyway. Lyft is great if you want to drive sick medicaid patients home from the hospital. And if you think driving lyft Extra Comfort or Black will increase your pay, you be fooling yourself and sitting around for hours waiting for the lone Lyft black request. I used to have a car that qualified as Black and only got those requests during peak surge times, and I found out why. That was because on the lyft app when it is surging, the Black rides cost about the same as the standard Lyft so there is no difference for the passenger.
Hah! I was a lyft and uber driver too. I like it allot.
Great video bro thanks what car do you drive
I got into an accident a month ago and I haven't revealed the outcome yet. But I can tell you that I only qualify for base Uber and Lyft
I've been driving cabs for 20 years plus 4 years with with one of the rideshare companies I don't want to state which one, unfortunately I happen to work in one of the worst markets in the United States and you would think Orlando is fantastic but it is so overcrowded with drivers making $200 is only top driver status out here and I know all the cities that are Killin it making double and triple on a daily basis, but I get $200 in 8 hours and we go long stretches of time with no bonus streaks because there's too many drivers‼️😣
Same bro, I stay in Kissimmee I drive all the way to Altimonte spring rideshare around there I usually leave with 350. There’s good rides out there and around 8pm the rides are back to back non stop. Just be careful cause there’s some shitty long distance rides.
@@regularpaul8142 exactly make $44 going all the way out to Haines City getting no tip now you're basically 32mi from even Disneyland stuck in a dead zone
@@ramzdalastpharoah exactly, you would think being in the biggest tourist state we would make a lot more. My cousin drives all the way to Tampa/clear water and says he makes 3x more than he does in Orlando. I just can’t imagine driving 2 hrs just to drive 8 hrs then drive 2 hrs home.
The problem is with the greater Orlando area too many people have tasted that $300 and a 9 hour shift and decided to make it a full-time job and once again we are way overcrowded with drivers and greater Orlando is probably one of the few markets that is I actually read it's the worst market to currently be driving in you can go from 200 day to 65 the next day those type of things did not happen to me up until the last 6weeks never before +gas is up so far eight and a half percent with no increase from the rideshare company 🎯
Because they only pay $0.56 per mile,that's not the case in most states,they pay over a dollar per mile,that will make a huge difference ⛔️⛔️⛔️⛔️⛔️⛔️⛔️⛔️⛔️
3:12 ive never ever had a Challenge Bonus in my 3 years of driving. ive had "Guaranteed earnings" a few times, like do 30 rides get a guaranteed $450 and all the streaks are now "streak zones" and those are usually $9 for a 3 ride streak.. and i live not too far from the bay area. bonuses are really rare for me. guess my city sucks
Thank you for your vids~ I am starting with Lyft Express this Monday. Lyft has no way to communicate with them so I'm trying to get info on TH-cam. I'm hearing that if you do 75 miles in a week you get a big discount & if you do over 100 you get additional discount. You are VERY high volume~ do you get a big discount on your rental? Also I'm in Las Vegas~ which city are you in? Thank you~
I have not heard of LYFT express, what is it?
I'm in Charleston but Vegas is on my list of places to move to!
@@FutureRideshareMillionaire A program from Lyft where you can rent one of their cars if you do not have a qualifying car of your own (within 10yrs old, sedan, everything works). I did it for a week & it's just too expensive~ $300/wk. That plus gas and you have to do 50 rides before you even break even. No more discount for number of rides (that was during pandemic).
What about vehicle depreciation expense? It is one of the biggest expenses. Simply a 3 year old car with 150000 miles is worth much much less one with 36000 miles. It isn’t realized until trade in or sale, but must be considered when calculating real profit
Well don't sell your work vehicles
I don't think in terms of depreciation because I don't plan to sell my car.
I can make more money driving my car until the wheels fall off than I can selling my car.
The way I do look at it is like this:
If I paid $10k for my car (which I did) and I made $100k in a year, then I netted $90k on the car.
The car will probably last me 3 years.
So in year 2 and year 3, my expenses on the purchasing of a car are 0. However, I would still set about $10k in cash to buy my next car.
Deprecation doesn't matter when you run your business this way which is the way I recommend.
@@FutureRideshareMillionaire if you don’t have a vehicle at the moment would you recommend the rental program ?
I just did a quick analysis in my area. 2016 Electra with 47000 and another with 84000 has a price difference of about $1600. Multiple that by 2.5 to account for roughly 100k mile difference and value only changes by about $4k. Which means you can account for depreciation in short time if done correctly (not to mention tax deductions)
Why are you so attached to your car? You can always replace a car. Trade it in for a newer one. If something is making you money 💴 don’t worry to much about the “ depreciation” I’ve had 4 cars since I’ve been doing Uber for many years. Who cares. It’s part of the job. If you want to conserve your car for the next 10 years then you need a different job we’re you go to work and back home and to the super market. You have to get rid of the Scarcity mentality.
Is it better money for airport rather than small rides?
AirPort is good to start the day off but make sure you make pick ups on the way back to the airport
Very brilliant!
Great video
It all depends on the area you are and how bussy it is ,where I'm at I li e next to downtown that's where the busy area is and airport.
In my market, only a few days a week Lyft offers a $12-15 streak bonus. But no surge at all, ever. I make far more from Uber’s quest bonuses. Smaller market
I really wish I could try Uber but they won't approve me for it.
I've found that if their are no bonuses in my market, it's still possible to make $500 it just requires much more time.
@@FutureRideshareMillionaire I drive a Yukon XL, I can only afford to do XL and Lux with a tank of gas costing me $90. Yesterday, on a Saturday I worked from 4pm to midnight and only made $110. That’s extremely slow. I made $600 on NYE and usually work 4 pm to 3:30 am. So I understand it’s a limit because of my choice to not do Lyft or Uber X. Does Lyft do surge pricing in your market?
You can repeat streak bonuses too
Good information. Is Lyft still paying that well. I drive for both platforms and in my town Uber is king. But when Uber gets slow I go see what Lyft is up to and if it is active I drive Lyft
I worked 14 hours yesterday and made $420 without bonuses (I did get a few good hotspots).
It's definitely not as strong as before, but if I put the effort in, it's still good money.
I get confused at 7:50 can you explain this more?
Yeah, sure.
So the government allows us to write of 56 cents for every mile we drive.
So if I drive 1000 miles and made $800, I can write off $560. That means I wouldn't owe taxes for $560. So $800 (how much I made) - $560 (tax write off) = $240 (the amount I would have to pay tax on).
Thanks for the tips, I have a Suburban and just started driving Lyft, it seems like I am averaging 25-30 per hour or 130 per weekday and 250 each Friday and 250 on Saturday based on 4-6 hour booked time. Any tips to optimize XLT?
If your suburban is black and 2017 or newer do only lux black and black suv ride… goin to be like 10 rides a day or less but you will make a lot of money with a little drive a day if your suburban is 2015 to 2016 do only xl and regular lux if your city don’t have lux rides I recommend to change your vehicle to a minivan or something like that or check your nearest city that have lux rides and go there
@@jminaya90 Why the black color wtf? I'm gettin' a white color car.
@@JR-90 lyft want a black vehicle to do lux black/black suv… only has to be black outside
How do you track your expenses? And also the mileage?
Do you have lyft lux or black suv? How did you make 500 without incentives?