When BC recently announced their decision to get on board with ride-sharing finally, it changed the game for ride-sharing companies like Uber and Lyft. Advocates of the ride-sharing companies rejoiced and lauded the economic benefits that this development would bring to drivers.
If you fancy a life of working on your terms and having complete control over your time, then you should consider driving for Lyft or Uber. Knowing how to go about signing up is crucial to making the best of this opportunity.
While both Uber and Lyft have different procedures, they have similar requirements that must be met to work with them. As a self-starter, you need to satisfy the following conditions:
While Lyft has set the minimum age limit for their drivers at 21, Uber has an age requirement that varies by province. However, both companies insist that you must be legally allowed to drive before you can come on board.
Residency and Screening Requirements
Both Uber and Lyft insist on a proof of residency, a fully registered and insured vehicle, and an online screening of your driving and criminal history. These are done to shield against the various horror stories that exist about drivers.
While not strictly required by the ride-sharing companies, it does help to do a little bit of driving around your province to familiarize yourself with the terrain. It is also a good idea to download the Lyft or Uber apps and get used to how rideshare and their ratings work. Additional factors can include things like your car’s cleanliness, water for passengers, and engaging in quality conversations with your passengers.
Required Driving Qualifications
Your driver’s license is all you need if you merely want to drive around Canada. However, driving for rideshare companies is a whole different kettle of fish. For example, in Toronto, you can drive for Uber or Lyft with a G class license, which is equivalent to the basic class 5 driver’s license. In Montreal, however, you would need a 4C Quebec driver’s license – with extra knowledge tests and a medical examination.
Different provinces seem to have their unique requirements as far as rideshare driving is concerned. You are advised to make the necessary inquiries so that you are well prepared to qualify with the exact requirements.
How Much Can You Expect to Make?
Do you fancy being your boss, setting your hours, or working on your terms? Whatever your reason for venturing into driving for Uber or Lyft, one thing is constant; you want to make money.
There’s no clear consensus about the exact amount that you stand to make. The very least that’s to be expected has been pegged at around minimum wage value ($11 US). In 2018, Uber published a report claiming that their drivers earn approximately $21 US per hour. Of course, both companies take about a 25% cut from each fare you collect.
You should also factor in certain ancillary expenses like insurance, car payments, vehicle upkeep, and gas. All these come into play when calculating the amount of profit, you stand to gain from being a driver.
What are the Vehicle Requirements for Drivers?
Just like the varying conditions that i9nflunce your driver’s license, the vehicle requirement also differs according to your particular province. Both Uber and Lyft insist on a 4-door vehicle for their drivers. The reason is simple since it would be potentially uncomfortable to have to flip a seat before passengers can get in.
The age of your vehicle is an essential factor that needs to be taken seriously. While your province influences your car’s age requirement, both companies insist on having vehicles that are not too old and are in good condition. They wouldn’t want old clunkers that break down on a whim, driving for them. They also insist on your car having a minimum of 5 seats, including the driver’s seat.
Looking for Affordable Uber Car Loans or Leases?
The rideshare companies aren’t picky about the ownership of the vehicles that work with them. There even created several solutions – Uber’s Xchange and Lyft’s Express Drive — that allow you to lease a car while driving for them. Unfortunately, these solutions are only available in the United States.
East coast financing has the perfect solution for Canadian drivers looking to lease cars for Uber and Lyft. We will help you find the ideal car to get you started on making a good profit while doing what you enjoy (driving).