The partnership between General Motors and ride-hailing service Lyft will soon benefit drivers in Denver who can now rent a car on the cheap and use it for work.
The car-rental service, dubbed Lyft Express Drive, has been designed for Lyft drivers who don’t have their own vehicle or would prefer not to use it.
For about $135 or $180 a week, Lyft drivers can rent a 2016 model from the GM catalog and with it, receive unlimited mileage, routine maintenance and insurance. A $150 refundable deposit is also needed before owners can get behind the wheel.
What’s more, the rental rate for the vehicles falls to zero after the Lyft driver has completed between 63 and 84 rides (depending on the car).
The service launched in Chicago last year and is already operating in 16 U.S. cities.
“We are oversubscribed in every market,” says GM’s Stefan Cross. “The feedback we’re getting is the average car sits idle 90 percent of the time. These (Lyft Express) cars are driving 70 to 80 percent of the time.”