Has the thought of becoming an Uber or Lyft driver ever crossed your mind? Has that thought then been immediately scrapped because you have no car? HyreCar understands and is offering a possible solution to your problem.
What is HyreCar?
In a nutshell, HyreCar is the Airbnb of the ridesharing world.
HyreCar is a startup whose main goal is to bridge the gap between carsharing and ridesharing by offering short-term vehicle lease options.
Their idea revolves around connecting car owners with individuals who wish to rent out their vehicles at a daily rate to earn money working for rideshare companies such as Uber or Lyft.
This idea creates a revenue source for both car owners and rideshare drivers.
The startup was founded in 2014. The co-founders are Abhi Arora and Andy Bansal
HyreCar is not the pioneer of the idea to connect car owners with individuals who wish to rent out their vehicles. As with many ideas in this industry, Uber got there first. Their program was called Uber's Vehicle Solutions.
Uber's Vehicle Solutions Program
Under this program, Uber created Xchange Leasing a separate arm of the company to connect potential Uber drivers with vehicles.
Future Uber drivers could lease vehicles for a thirty-day minimum.The lease came with unlimited mileage and a few additional costs. There was also the option of a maintenance program which offered an oil change and tire rotation every 5,000 miles and a cabin air filter replacement every 25,000 miles.
Uber is no longer in the car leasing business as of October 17, 2017. The reason - the vehicle loss rate. Uber had estimated a cost for this. Upon analysis, however, the actual cost was 18 times more than they estimated.
Uber has pursued varied options of the vehicle solutions program.
They partnered with Enterprise Rent-A-Car in certain cities to offer weekly leases. The leases start at $225 a week plus taxes and fees. At last check, this program is still up and running.
In Boston, they partnered with Zipcar to offer hourly leases. The leases start at $12 an hour and there is a monthly membership fee of $7. At last check, this program is still up and running.
There was also a similar partnership in Chicago with E-Rive. Leases are available by shift. There are three shifts. 4 am - 11am, 12 pm - 7 pm and 8 pm - 3 am.
With E-Rive, a gas vehicle is $30.50 per shift and an electric vehicle is $37.90 per shift. There is a weekend/holiday surcharge of $5.50 a shift. All charges include taxes and insurance. At last check, this program is still up and running.
How HyreCar Works
Following are the steps to using HyreCar as a driver.
Step 1- Create a HyreCar account either by signing up via Facebook, Google or email. Your rideshare status will be verified (plus a background check) prior to you receiving approval to join HyreCar.
Step 2 - Search for a vehicle. Vehicle availability is indicated by location and date so these are your search parameters.
Step 3 - If you find a vehicle you desire, click on the ' book now' button to request it. Vehicles are either available to book immediately or within 24 hours.
Step 4 - Arrange with the car owner when you can pick up the car. Prior to the pick up, you will need to download the insurance, registration, and vehicle inspection information. These should be uploaded to your ridesharing portal.
Step 5 - Pick up and drive the car after confirming the damage waiver and presenting your license.
Step 6 - At the end of your agreed lease duration, drop the car back to its owner with a full tank of gas. Do a final walk around to ensure no damage that needs to be reported prior to handing over the keys.
Following are the steps to follow to be able to use HyreCar as an owner.
Step 1 - Create a HyreCar account either by signing up via Facebook, Google or email.
Step 2 - Get your vehicle inspected then upload your registration information along with good quality pictures of the car.
Step 3 - You'll be contacted when a driver wants to rent your car. If your car is not available as an 'instant book,' you have 24 hours to either confirm or deny the request.
Step 4 - If you confirm the use of your car, arrange a drop off location and pick up time with the driver.
Step 5 - When the driver arrives, confirm the current condition of the car and note the gas and mileage and confirm pick up on the app.
Step 6 - Set and confirm where your car should be dropped off and the time. When the driver arrives, do a walk around to confirm condition at the time of return.
The following is a snapshot of HyreCar's liability/damage protection policy.
HyreCar offers limited insurance to both drivers and owners at the time of booking.
Per HyreCar, " all vehicle rentals include approved insurance at a cost of $10 per day."
The insurance policy is standard for the industry It includes liability insurance capped at $300,000 and physical damage insurance capped at $25,000. Physical damage claims are subject to a $2,500 deductible on the drivers part.
Owners are required to maintain their own personal insurance at all times and cannot use HyreCar's insurance to obtain a vehicle plate or to annually renew a sticker or meet any other state vehicle operation requirements
HyreCar Roadside Assistance
Roadside assistance is available as follows.
Monday to Saturday from 6 am to 11:30 pm. On Sunday it's from 9 am to 3 pm. During these hours, drivers will call the company's support line for assistance.
After business hours, the owner is responsible for providing assistance. If they are not available the driver is responsible for getting assistance and should maintain receipts for anything they pay for.
To use roadside assistance, the leased vehicle must be active in the HyreCar system and have current insurance. Tow truck distances are capped at 30 miles from pick up to drop off.
More information on this and other polices is available here.
Some the cities where HyreCar is currently available are Los Angeles, Chicago, New York, Atlanta, San Francisco, Washington, Dallas, Philadelphia, San Antonio and San Diego.
HyreCar indicates that San Francisco, Dallas, Atlanta and Los Angeles are some of their most popular cities.
Benefits of HyreCar for Drivers
The benefits are few.
- The car can be used to check out whether ride sharing is for you without incurring excessive expenses. This includes finding out which type of car is best suited for ride sharing
- If your car is temporarily out of commission either for service or other reason a HyreCar can tide you over.
In summary, HyreCar only provides temporary benefits and should therefore only be used as a temporary solution.
The benefit for owners is simply that it can provide a passive source of income.