HyreCar has a great concept, in theory. The online platform connects people who want to drive for rideshare companies like Uber or Lyft, but don’t have a qualifying car, with car owners who are looking to rent out a vehicle they don’t use often.
However, when looking at the cost of rent, insurance, and fees for using HyreCar, it doesn’t seem that a rideshare driver would have much left in their pocket if they only drive occasionally.
If HyreCar is something you are considering, learn the details in our HyreCar review.
Rent a Car to Drive for Uber, Lyft, or Delivery
- Rent a qualified car for any rideshare or delivery service
- Commitment-free with no long-term contracts
- Available for daily, weekly or monthly rentals
- Key takeaways
- HyreCar: Is it worth it?
- What is HyreCar?
- How much can you earn with HyreCar?
- How to make more money with HyreCar
- How to get started with HyreCar
- Renting out a vehicle with HyreCar
- Alternatives to HyreCar: Turo and Lyft Express Drive
- How to stay safe while renting from HyreCar
- FAQs about HyreCar
- HyreCar review: Bottom line
- HyreCar connects rideshare and food delivery drivers who need a car with car owners who want to rent out their car to make extra money.
- HyreCar offers a good way for car owners to earn passive income renting their cars.
- HyreCar requires drivers renting the vehicles to carry mandatory insurance, which adds to the cost of the car rental.
- HyreCar also charges drivers a 15% service fee on rentals.
- Discounts are available for longer rentals of seven days or more.
HyreCar: Is it worth it?
What is HyreCar?
HyreCar is a car-sharing marketplace that connects car owners with rideshare and food delivery drivers for companies like Uber, Lyft, and DoorDash. With the HyreCar platform, car owners can rent out their vehicles to people who want to earn money as a rideshare or food delivery driver. Drivers who rent from HyreCar might not own their own car or have a car that doesn’t meet the qualifications for Uber or Lyft.
HyreCar is a legitimate company. It was founded in 2014 and went public in 2021. Headquartered in Los Angeles, HyreCar operates in all 50 U.S. states. The service has the most extensive presence in major cities like Atlanta, Chicago, Dallas, Miami, New York, and Washington D.C.
HyreCar has a B rating with the Better Business Bureau (BBB) and a 3.4 out of 5 rating on Trustpilot with over 2,000 reviews.
How much can you earn with HyreCar?
Rideshare drivers can make good money. According to the Ride Share Guy website, Uber drivers can earn up to $50 per hour, depending on their location, but most drivers make $15 to $20 an hour. The cost of renting a vehicle from HyreCar for your rideshare gig will cut into your earnings.
The least expensive vehicle for rent on the HyreCar website costs about $35 to $40 daily. You’ll also get charged an additional $17.95 per day for insurance plus a 15% transaction fee on the daily rental cost. The platform does offer discounts for longer rentals. For a seven-day rental, you’ll receive 3% off the rental price, and 5% off for 30-day rentals.
For example, if you rent one of the cheaper HyreCar vehicles for seven days. The total rental cost would be $422.37.
Here’s the breakdown:
|Rental price $38 per day x 7 days||$266.00|
|Transaction fee (15%)||$38.70|
|Insurance fee ($17.95 x 7 days)||$125.65|
If you are lucky enough to be making $50 per hour, you’d have to drive over nine hours to earn more than what you have to pay for the car rental.
Being an Uber or Lyft driver is not the best side hustle if you are renting a car through HyreCar to drive less than 10 hours a week. HyreCar is a better option for rideshare and delivery drivers who drive full-time (more than 35 hours per week).
HyreCar insurance coverage is mandatory, so you can’t opt out of it and use your own insurance to save on the cost of your car rental. The insurance covers your use of the vehicle when you aren’t driving for a rideshare company like Uber or Lyft. Rideshare companies have their own rideshare insurance policies that provide coverage while you are actively driving for the service.
How to make more money with HyreCar
If you use the HyreCar rental service for your rideshare business, you'll want to maximize your earnings so you have a considerable profit after you pay the HyreCar fees. Driving full-time for a rideshare or food delivery service can help you earn a decent income, even given the HyreCar rental fees. Here are a few other things you can do to make more money with HyreCar:
- Drive for multiple services. Rideshare drivers are independent contractors. That means although you may drive for Uber or Lyft, you aren’t an employee of those companies. You're self-employed, so you can work for multiple services to help make more money. Many Uber drivers also drive for Lyft. During rideshare slow times, you can even use your HyreCar to deliver food or groceries for DoorDash or Uber Eats.
- Pick a HyreCar with a lower rental cost. HyreCar has many options for vehicles to rent on its platform. Choosing a Mercedes or Chevy Suburban will cost you more to rent, reducing what you take home after expenses.
- Provide snacks and conversation for passengers. Rideshare drivers can also make money from customer tips. You are more likely to get tipped by your customers if you provide a pleasant experience on their ride with you. Offer them a bottle of water and discuss how their day is going.
- Drive during times of high demand. The best fares you can make as a rideshare driver are when you drive during periods of high demand. For example, if you live in a college town, many people are likely to be looking for rides on days when there’s a home football game.
How to get started with HyreCar
Here’s how HyreCar works: To rent a car from HyreCar, you must be at least 21 years old and have a valid U.S. driver’s license and Social Security number. Drivers ages 21 to 24 must have at least one year of driving experience, while drivers aged 25 and over have to have at least three months of driving experience.
You sign up as a driver at hyrecar.com. You’ll be required to complete a free one-time background check which takes about 48 hours turnaround time. This background check looks at your motor vehicle record and confirms that you have a clean criminal record.
Once you are approved, HyreCar will provide you with forms for insurance, registration, and inspections that you can give to the rideshare or food delivery company you are working with.
The final step is to meet with the vehicle owner, get the keys, and then you’re ready to start making money.
WarningIf you are driving in Arizona, California, Maryland, New York, or Nevada, you will be required to submit a $99 security deposit to HyreCar. That deposit will be refunded to you 48 hours after you drop off the vehicle in the same condition you received it.
Renting out a vehicle with HyreCar
Car owners can earn up to $720 a month renting their vehicle to rideshare drivers through the HyreCar platform. You create a listing with the car’s description and photos and then set the price for the rental. HyreCar vets the drivers requesting to rent your vehicle to ensure they have a clean driving record and no criminal history.
Once the driver’s rental request is approved, you arrange to meet them and hand over the keys to your vehicle.
Car owners are required to carry their own personal car insurance for their vehicles. HyreCar also provides several protection plans that include liability insurance, physical damage coverage, and additional coverages for cleaning, gas, mileage, impound fees, and lost or stolen keys.
How much you make renting out your vehicle with HyreCar depends on the Protection Plan level you choose. With the “Basic” plan, car owners earn 85% of the rental fee, and HyreCar gets 15%. With the top coverage “Premium Plus” plan, car owners make 70% of the rental fee, and HyreCar takes 30%.
HyreCar requires that vehicles rented through its platform have functioning GPS devices. Cars without a GPS tracker won’t be covered by HyreCar’s Protection Plans.
Alternatives to HyreCar: Turo and Lyft Express Drive
There are alternatives to HyreCar, including Turo and Lyft Express Drive.
Turo is a car-sharing marketplace. Unlike HyreCar, which focuses specifically on car rentals for rideshare and food delivery drivers, Turo is available for anyone who needs to rent a car. Most renters on the Turo platform are looking for a car for a weekend getaway, not a rideshare gig. Turo has a similar concept to that of Airbnb, where people rent vehicles from car owners rather than car rental companies.
Learn more in our Turo review.
Like HyreCar, Lyft Express Drive provides vehicles to rideshare drivers who don’t have their own set of wheels. However, Lyft Express Drive differs from HyreCar in that it gets its cars through a partnership with Hertz Car Rental and Flexdrive rather than independent car owners.
Learn more about Lyft Express Drive.
How to stay safe while renting from HyreCar
When you rent a car with HyreCar, you pay for additional insurance to protect you if anything unexpected should happen. However, you should take other precautions to keep yourself safe from incurring any additional fees.
Thoroughly inspect the vehicle upon pickup. Make sure to check the car for any major dings, dents, scratches, or other damages. You should also take pictures of any damage you see in case it comes up when you return the car.
Keep track of your mileage. HyreCar vehicles all have daily mileage limits that the car owners set. If you exceed the limit, then HyreCar will charge you a fee of $0.25 per mile over the limit.
Act and drive responsibly. You should keep the rental vehicle clean and the gas tank full. It's also important to drive according to the posted speed limits and follow other rules of the road. Otherwise, you’ll be liable to pay for any traffic tickets, lost keys, fuel, cleaning, or other expenses. In the states where drivers are required to pay a $99 security deposit, the cost of these expenses will be deducted from your deposit.
FAQs about HyreCar
Is renting your car on HyreCar worth it?
If you have a vehicle that isn’t getting used very often, renting it on HyreCar may be worth checking out. You could make anywhere from $30 to over $100 per day for renting it through HyreCar to a rideshare driver. HyreCar will take a chunk of your earnings — between 15% and 30% — but the money you earn renting a car you don’t use can be a good source of passive income.
Does HyreCar take care of the car while it’s rented?
HyreCar provides Protection Plans for car owners to ensure that their rental car is taken care of. The Protection Plans include $1 million in third-party liability coverage, up to $50,000 in physical damage coverage, cleaning reimbursement, gas reimbursement, and more.
How much you can make renting your car through HyreCar depends on what level of Protection Plan you choose. There are four Protection Plan levels: Basic, Standard, Premium, and Premium Plus. The higher-level plan provides more protection but will also cut into your income more because HyreCar takes a larger percentage.
How do you contact HyreCar’s customer support line?
You can reach HyreCar at phone number 888-688-6769 or by using live chat on the HyreCar website.
How much will it cost me to rent a car on HyreCar?
If you are renting a car on the HyreCar rental platform, it will cost you between $30 and $100 per day for the rental fee, plus $17.95 per day for insurance, and a 15% transaction fee. So renting a car for $30 a day for 14 days would cost you about $734.
HyreCar offers discounts for longer rental periods. Rentals for seven days or more receive 3% off, and 30-day rentals get 5% off.
HyreCar review: Bottom line
If you want to join the gig economy and contract with rideshare companies like Uber and Lyft or food delivery services like DoorDash but don’t have a car, HyreCar is there to help you. HyreCar matches carless rideshare drivers with car owners who are looking to earn passive income by renting their cars. However, using HyreCar costs quite a bit in fees and insurance, so unless you’re planning to work full-time hours, renting from HyreCar is probably not the best idea.
For car owners with a set of wheels they don’t use often, HyreCar offers a good way to earn passive income by renting your vehicle. But owners should remember that by renting a car to a HyreCar driver their vehicle is going to get heavier use than if they rented to someone for personal use.