Hello and welcome to lesson 2 of module 3. In this lesson we will take a look at the “perks” for both major ridesharing companies and how you can take advantage of them best.
Whether you finished the previous lesson or are just jumping in, make sure to review commonly used terms and phrases that may be used in this lesson.
What Perks Can Do For You
Ahh, perks. Just hearing that word makes peoples’ ears perk up (pun totally intended there.) But what is a perk in terms of ridesharing?
A rideshare perk is an extra service, discount or form of compensation that make spending your time contributing to a company or cause an even sweeter deal.
Unfortunately, rideshare driving for Lyft and Uber don’t offer normal company benefits such as health care, 401K, and other investment potentials. However, there is a plethora of other things you can get from joining forces with either platform.
That being said each company offers various discounts and incentives to reach pre determined levels of accomplishment. How do you get these perks exactly? You drive!
These bonuses usually are dished out to drivers who maintain a specific acceptance rate, specific monthly ride rate or driver rating score. Let’s get started!
Lyft Driver Incentives
Lyft follows a tier based incentive called the “Accelerate Program”. this essentially means that which rewards, if any are dished out are based on how involved the driver is in their work.
The more rides you complete each month, the more perks you will be eligible for. The program is divided up into three tiers:
Silver Tier
This is the one that every driver starts out at. As a starting point it is fairly generous. Silver status qualifies you for a plethora of different awards, such as:
Tax support – As a Lyft driver, you have the option to buy software from Intuit at a discounted price. This is great for people who find themselves yanking their hair out every tax season. Worry no more!
Roadside assistance – Drivers also qualify for a discount on roadside assistance from Allstate, for when your car breaks down on the job or off.
Cell phone discounts – A discount from Verizon for Lyft drivers means you can really save on your cell bill every month. Given that you need a smartphone in order to drive, this pushes the costs of being a rideshare driver down for you. Thanks Lyft!
Retirement benefits – Though Lyft doesn’t offer a 401K, they do have a partnership with Honest Dollar. Honest Dollar is an investment company that offers packaged portfolios based on a profile you create after answering some questions. Their parent company is Goldman Sachs.
Fuel rewards – This one is perhaps the most useful right out of the starting gate. Silver-tier Lyft drivers save $.03 per gallon on gas purchased from participating Shell stations. If you’re gonna fuel up to drive, you may as well save while doing so!
Gold Tier
Gold tier is the mid-level of the Accelerate program. Drivers are automatically placed into this level when they give more than 20 rides per month with Lyft. This tier has all the rewards of the pervious one, but with some more added.
Increased fuel rewards – This incentive bonus scales as you progress through higher tiers. Now you will save $.05 per gallon on gas purchased from participating Shell stations, instead of $.03. Cheaper gas, means more drives and more money.
Maintenance discounts – This includes things like tires, fluids, tune-ups, and more.
Rotating bonuses -Lyft offers thousands of discount from partnered business’. The list is huge and changes constantly. This includes discounts for things like gym memberships, movie tickets, food, retail purchases, and more.
Platinum Tier
This is the crème de la crème of Lyft’s reward program. It also takes a bit of dedication to reach. You have to give a minimum of 199 rides per month in order to qualify for this. However, if you’re driving for Lyft almost every day this should be easily attainable. Rewards from previous tiers stack. The extras in platinum tier include:
Roadside assistance – Unlike the silver tier offer, you now can get roadside assistance absolutely free of charge. Lyft fronts the bill on all your emergency roadside needs.
Further increased fuel rewards – Now you’re going to save $.07 per gallon from Shell! In the right circumstances this could make it even cheaper than Costco gas! Ride on and earn more money!
These reward tiers are tracked on a monthly basis. So keep your ride count high to maintain the incentives you want.
Uber Driver Rewards
Uber also has a rewards program that it’s drivers can qualify for. They describe their program as “A customized reward program for partners, designed to help you grow your business, reduce your operating costs, and stay healthy.”
The main difference is that they do not break rewards down based on an accomplishment tier. All active drivers with a 100% acceptance rate qualify for these perks.
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