How Much is Lyft Rental Car Deposit?

How much is Lyft rental car deposit through Lyft Express Drive program? You may already know that through Lyft app, we can rent a car with some refundable deposit and even earn some deposit when you rent a car and drive for Lyft. Lyft Express Drive is a program that offer people to rent a vehicle across United State.

To start rent a car from this application, you have to sign up to make an account on their application. That’s why, below we are going to list step by step on how to rent a car and deposit your cash on Lyft app.

How much is Lyft rental car deposit and what are the requirements?

You need to spend around $250 to $350 per week to rent a car through Lyft and they also might charge additional cost for maintenance, gas, insurance and roadside assistance. And how much is Lyft rental car deposit returned to you? Refundable deposit around $150 can be returned once you return the car in the same condition when you picked it up.

In addition, some requirements are needed when you plan to rent a car with Lyft such as:

• To be able to rent a car and drive it, you should be at least 25 years old.
• You should have clean driving history record and have a valid driver license
• You have to pass their background check before you star to rent and drive their car
• You need to return the car in the same condition when you picked it up at the drop-off location.

Currently, Lyft has partnering with both Flexdrive and Hertz for their car rental provider. You can rent a car to get earnings with ride-sharing or you can also ride the rental car for personal use. Some benefits of using Lyft to rent a car:

• You can choose from wide range of car types; it starts around $250 per week for midsize sedan to around $350 per week for an electric car. Of course, the price can be higher if you rent larger size of car or rent it for more than a week. However, Lyft offers flexible pricing plans which can be set up according to your budget. All the prices already include standard maintenance, insurance as well as roadside assistance.
• The minimum rental period is 7 days and it is renewable every week so you do not need to make long term contract periods. Just set how long you are going to rent the car at least for 7 days, decide your own schedule and after your contract is done, you can return the car and your deposit will be returned.
• Lyft only offers the latest car models from 2018 or newer so you will get high quality and modern vehicles with fuel efficiency including electric and hybrid cars.
• You can collect earnings by applying as Lyft driver with your own car or rental car through Lyft. The passengers who are going to share ride with you will pay through the app and at the end of the ride, you will get some deposit from the ride fees. Your money will be deposited each week into your Express Drive rental account.

Some important notes regarding the refundable deposit

To rent a car with Lyft application, you need to deposit some cash in your Express Drive account.  How much is Lyft rental car deposit is already mentioned above and you will pay the deposit right after you make a reservation. The amount of the deposit will show up on the app and if there is additional cost, the app will charge it via the application as well.

Here are some important notes which you need to know regarding the refundable deposit:

1. Lyft accept both debit and credit cards for rental deposit, but they don’t accept cards like Google Play or Apple Pay. To check the status of your deposit money, you can go to their Rental Deposit menu by clicking ‘Your Vehicles’ tab. The page will show Express Drive Rental menu and just tab ‘See Details’ so you can see the amount of your deposit.
2. The deposit can be returned with several conditions such as:

• You are not pass driver’s requirement or background check
• You cancel your reservation before you pick up the car
• You return the rental car in the same condition just like when you pick it up

3. Once the deposit is already returned, check again your deposit status. If you didn’t receive your deposit yet then ask their customer service or just wait. It is because it needs about 3 weeks to process the refundable deposit so you might need to be patient.
4. If you have additional cost caused by damages or tolls then the app will charge it via the app.
5. If you submit yourself as Lyft driver to earn some money, then they will charge the rental cost from your earnings. For example, if in a week you can collect $500 and the rental car cost you about $200, then you will receive $300 by the end of the week.
6. Rental costs won’t be exactly the same each week, especially when you rent a car more than 7 days. Lyft rental car provider will calculate your weekly price based on several things like weekly rate, damage waiver, tolls and mileage. If there are other fees like refueling, deep cleaning or you lost the car keys then they will be charged from your deposit.

What if your earnings cannot cover all the costs you make during your rental period? Then the app will charge your debit or credit cards. And if you cannot be able to pay the rest of your rental car, then it is better to just return the vehicle on the drop of location to avoid any consequences.

And to view your weekly cost, you can check on ‘See Weekly Breakdown’ menu. That’s why we always suggest people to always deposit more money than the required amount in case some additional charged is needed. Hope this information regarding how much is Lyft rental car deposit you need to pay help you to prepare the right amount of money.