Is your car just sitting in your home garage? Have you thought that maybe you might put it to some good use when you don’t need to use it?
Wouldn’t it be a fantastic thing if you could hire it out, making some good side bucks?
If your answer is yes, HyreCar might be what you are looking for.
Lucky for you, I’m going to share with you in this post why HyreCar is an excellent option for you to make that extra income.
What is HyreCar?
HyreCar is a marketplace designed for car sharing. Car owners rent out their cars out to Uber, Lyft, and other companies like Grubhub, Instacart, Doordash, Postmates, etc.
Based in Los Angeles and established in 2014, HyreCar makes money from transaction fees charged.
They also make money from insurance fees, referrals, late rental fees, and motor vehicle record fees. There are also other forms of charges to drivers in different situations.
Private car owners will list their vehicles for rent on HyreCar, and rideshare drivers or potential renters can rent the car.
HyreCar has a ton of car choices you can make: from a simple Hyundai to a Mercedes E-Class. But in most cases, most car listings are for economy cars that are best suited for rideshare and gas mileage.
Is HyreCar Legit?
For a platform like HyreCar to work, there are measures to ensure accurate listings and adequate insurance. They handle issues about drivers and car owners well. Trust has to exist.
HyreCar inventory consists purely of individually owned cars, and most of them usually have been inspected by Lyft/Uber. The inspection takes place before they rent out the cars on the platform.
If the car you require has not received approval for Lyft/Uber, you would need to take it for Uber inspection or your mechanic.
You would then be required to submit the inspection paperwork for addition to your profile (Uber approves in a few hours).
HyreCar makes an effort to call the owners of all the new listings to ensure they are not a scam or fraudulent listings.
How do I know this is true? I tested it by listing a Ford Fiesta and used false information and a fake photo sourced online.
They called the following day for verification that I didn’t make that information up. I was not allowed to rent out my false listing.
That is how serious they are.
How HyreCar works
HyreCar works differently for both drivers and car owners. Drivers will access the site and search for available vehicles. They then choose the car that best suits their needs.
On the other hand, car owners will provide their car specifications when making a listing on HyreCar. They will also offer good-quality exterior and interior photos.
The details help the drivers in making informed decisions before renting.
For Drivers – HyreCar will charge a transaction fee and insurance fee for the drivers who will use the listed cars. Drivers can make a car selection from the thousands of car models available on the platform.
HyreCar claims that its car rental service is affordable because it is competitive and offers good quality vehicles at the lowest prices.
For Car Owners – Car owners who are interested in making money with HyreCar can choose how much they want to charge in a day. They can also choose to give discounts for the clients who rent their cars for long periods. In a nutshell, the car owner will set the terms of how they want their cars rented out.
HyreCar vehicle requirements
When making a listing of your car on HyreCar, the requirements depend on the state you are in or if the driver plans to drive for Lyft, Uber, or any other ride-share platforms.
Our review discovered the following requirements when you wish to drive for Lyft or Uber in all the states.
Also, the requirements will vary following your location. You will need to check out a more comprehensive list from HyreCar.
- Driver’s photo
- A car inspection form
- Car Insurance
- Car registration
- Driver’s license
- The car should be 2003 or newer with 5-8 seats and four doors.
Uber will accept either official or temporary registration documents.
The car you present does not need registration in your name. All cars need to have an insurance policy in line with state and local laws.
- The car needs to be 15 years old or newer and with four doors. It should have no branding for commercial purposes or cosmetic damage.
- The car must also pass a car inspection.
HyreCar Driver Requirements
The driver requirements give direction to get rid of the rogue drivers from representing HyreCar.
The requirements vary depending on the platform the driver is driving for. All drivers must have an age limit of over 21 years.
They must have a driver’s license for at least one year accompanied by a clean record. The drivers should also have a valid insurance cover and a recent model of a smartphone.
If you submit all the requirements and pass, you will need to undergo a background check courtesy of HyreCar. They will do it before you enroll on the platform you wish to drive for.
Pros of HyreCar
Driver Flexibility – HyreCar gives the drivers room to sample other rideshare platforms before limiting them to Uber or Lyft. It provides the drivers to select what best fits them in the long run.
Fixed Costs – HyreCar will give you a fixed cost while factoring in the car wear and tear. This will make your costing easier, and thus, you understand your income and expenditure.
No Commitment – While other rideshare platforms will subject you to a penalty if you break the lease duration, with HyreCar, it is different. You can break the agreement on a day when you need to take a break.
Customer Service – The customer service offered is good. They are friendly, knowledgeable, and responsive to questions. You can call them on 888-688-6769.
Cons of HyreCar
Here are some of the most concerning red flags we discovered about HyreCar that you need to know about.
Not a Good Long-term Job – The overheads that come with the platform would demand that you work overtime to break even. The costs incurred are so much more in comparison to other leasing options.
Vehicle Mileage Limit – Vehicles on HyreCar have mileage limits of about 150 to 300 in a day. This would mean the drivers who wish to work more will be affected.
Car Pick Up and Drop Off – As a driver, you will have to figure out cost-effective ways to pick and drop off the vehicle in a bid to minimize downtime and save.
How to sign up for HyreCar
The signing up pages for both the drivers and car owners are on the HyreCar Website.
Signing Up as a Driver
Once you sign up on the website, choosing a car to rent is easy. Here’s a step by step process:
Select the car that suits your needs, then click “Book Now” above the photo of the car you are interested in to start the renting process.
Input the dates of the period you will use the car. The minimum period is two days. If you use it for more than that, then you will need to agree with the owner.
Book between 5 to 10 cars to increase your chances of getting one as some choices will be unavailable.
Once you make your car choice, fill out the payment information and, using your debit card pay $200, which is refundable. HyreCar will hold the money in your account.
HyreCar will then perform a background check, and it takes just a few hours.
Once HyreCar has approved you, upload the documents you will receive on the Lyft or Uber account.
For more information, read the HyreCar vehicle owner guide.
Signing Up as a Car Owner
The vehicle owner will list their cars for free on HyreCar. Once you have signed up, describe your car and upload the documents that need to be verified.
The documents are:
- Visible photos of the interior and exterior
- Uber/Lyft documents
- Driver’s License
- Vehicle Insurance
- Car registration
Here is what you need to do:
- Describe your car well. Convince the drivers why your car is the best choice.
- Study the market before you price so that you can get the best price to use.
- Take care of your car. Ensure it is in good condition.
Read the comprehensive guide by HyreCar about renting a car for further information.
How to Increase your earning with HyreCar
There are six ways to increase your earnings as a driver with HyreCar:
1. Get trained – Take driver training courses to discover ways of earning more with HyreCar.
2. Keep your rating high – Keep your customers content with your service. When you keep a pleasant service, you increase your chances of earning more.
3. Delivery Apps – Engage yourself with food delivery apps when ride requests are scarce. This is an excellent way to earn that extra buck.
4. Maintain your car – A clean, well-maintained, and safe car is crucial in the business.
5. Be smart about the insurance policy – The less you spend on your policy, the better your profits will be.
6. Increase the tips – Offer your passengers excellent service, and that way, you increase your chances of receiving tips.
HyreCar Costs to Consider
You can break HyreCar revenues into the following:
- 15% from car owner fees per week
- Insurance catered for by the drivers
- 10% paid to HyreCar by drivers from their weekly income
A driver is also required to make a $200 deposit which is in their account. HyreCar also makes money from insurance fees, referrals, late rental fees, and motor vehicle record fees.
How Does HyreCar Insurance Work?
The HyreCar Insurance Policy serves as the primary insurance only when the driver picks up a car from the owner or when he has a rideshare application. The insurance policy only applies in the United States.
While on a trip, you have to go through the Transportation Network Company for coverage if you get an accident. Lyft has a $2,500 deductible, and Uber has $1,000.
There are three HyreCar competitors:
1. Turo vs. HyreCar – Turo is a worldwide company. It gives you a wide range of cars with a price range of between $30 and $128 in a day. Sign Up for Turo
2. Lyft Express Drive vs. HyreCar – With Lyft Express Drive, you will pay a non-refundable starter fee and a refundable security deposit. The payments will include insurance and maintenance. Sign Up as a Lyft Driver then get a vehicle using Lyft Express Drive
3. Hertz vs. HyreCar – The difference between these two is that you can only drive for Lyft or Uber with Hertz but not the two of them. For $214 and $219 in a week, you get the following:
- 24 hours and 365 days of assistance on the roadside
- Car damage protection
- Unlimited miles for personal use or Uber
- Standard maintenance and liability protection included
Who is HyreCar Best For?
1. Delivery drivers whose cars have broken down. If your vehicle needs repair, you can use HyreCar to keep earning with Lyft or Uber if they are the main source of income.
2. Drivers are interested in trying out various platforms. If rideshare is a hustle you want to try out, then HyreCar will help you test the waters before you commit. You also get to try out different cars at a time.
It is good to have HyreCar as an option in case you have an accident or a break-down.
Being able to get a car will keep you on the road and still earning. However, you would need only to use it for a short period because the overheads are too high.
Also, the HyreCar platform is much more streamlined in comparison to other options we’ve come across.
You will get all the information you need before you book the new rideshare car.
Frequently Asked Questions
How Much Do You Make With HyreCar?
So, how much does HyreCar pay? Averagely, Uber drivers will earn up to $19 per hour. On the other hand, Lyft drivers will earn $11.77 per hour.
Note that HyreCar will deduct service and insurance fees from your earnings.
Can I Use HyreCar for Personal Use?
Yes, you can use HyreCar for personal use.
Does HyreCar Require a Deposit?
Yes, HyreCar requires you to make a deposit. Once you have settled on the car of your choice, fill out the payment information and, using your debit card pay $200, which is refundable. HyreCar will hold the money in your account.
Hi, I’m Andia.
An expert personal finance & investment writer and blogger. I help people like you turn your spare time into $1000 per month or more outside of your day job.
I’ll help you identify proven side hustle ideas you can take action right away and make six figures working from home or whenever your schedule allows.