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Lyft has quickly become a popular name in the rideshare community. It is definitely grown into a profitable business and can be especially profitable to newcomers by way of their signup bonuses. While Lyft may not be as busy as Uber, you have the opportunity to make more with tips and higher fees. It should be noted that Uber also gives a bonus of $500 but only if you’ve driven for Lyft first so what is there to think about? Go with Lyft first.


How Does It Work?


Sign up on Lyft’s website. If there are no problems encountered with your application, vehicle or background check you could feasibly be on the road and working in about a week. Customer support is available but not always real helpful, just so you are aware.


Now, before you get to work on that application look for the sign-up bonus link first. This link will lead you to the application and determine whether or not you’re eligible for a bonus and if so, how much. It’s important to begin with the promotion link as you cannot go back and ask for the bonus after the fact, you can’t call or email and there is no petition or appeals process. You snooze, you lose so do your research!


What Types of Bonuses Are Available?


There are two. First is the Standard Sign-Up Bonus. This requires another driver provide you with a referral code and after you’ve completed a certain number of rides within a specific time period (30 or 50 days), you and the driver who referred you will get the same bonus. You’ll want to check the bonus rates for your city to see what you’re entitled to. The bonus is in addition to the salary you’ve made for that period of time but keep in mind the bonus will be taxed. Once you become a driver you will get your own referral code link to share with other new drivers and that can mean more bonuses for you!


The second is available only in select markets and can be the most difficult bonus to get. It also carries some conditions. This bonus basically guarantees you a set hourly rate. If you do not drive the hours to meet the requirement, Lyft will make up the difference. Keep these things in mind: you must drive in a city that this bonus is offered, make sure you follow the application link in a Lyft advertisement and understand this particular bonus will be subject to Lyft commission fees. Unless you’re an experienced Uber or other rideshare company driver, this probably isn’t the best option for you.


Whatever bonus you choose, make sure to find and follow the correct link so you are insured you actually get the bonus.  Do your homework before signing up!

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