Uber is the pioneer technology-based ridesharing platform that connects passengers with pre-registered drivers via the Uber app. The Uber business model is designed to empower entrepreneurs who want to register on the Uber app as an Uber driver or partner. With its global presence, Uber has a large network of cars listed on the platform. Also, anyone with driving expertise and a car that meets the company’s requirements can register as an Uber partner or driver.
However, you do not have to own a car to enroll on the Uber platform. If you are considering getting a car for your Uber business, there are a couple of ways to go about this. Getting a car for your Uber business requires some financial commitment. There are also some risks involved. The options available for getting a car to use on the Uber platform depends on your budget and how flexible you want to be as an Uber driver. Depending on your preferences, here are a few options for getting a car for your Uber business.
Buying a Vehicle
Buying a car will mean making 100 percent payment before owning the car. This option is a huge financial commitment and deciding on the type of car depends on the Uber service you wish to offer and your budget. It is important to note that Uber has various services which require different types of vehicles. You should decide on which of the services you are interested in before buying a car. Your car will be rejected if it has major cosmetic damage or it is salvaged (was involved in a major accident and had to be fixed with parts from other vehicles or rebuilt). There might be some extra requirements (besides the general) depending on the type of Uber service you choose.
Many people tend to invest in a new car before driving professionally with Uber. This isn’t a bad idea if you have the funds. However, if you want to buy a car for your Uber business, it is important to know that you will have to bear the cost of car related expenses like fuel, car maintenance, insurance costs, car depreciation, Uber royalties and other maintenance related expenses.
Uber Rental Options
These Uber rental car options were created to help intending and existing Uber drivers. To apply for these rental options, you should know that you have to first sign up to become an Uber driver. Please see Uber rental car options below:
Uber -Enterprise Rental
Uber in partnership with Enterprise is offering weekly rentals to drivers at $210/week and a non-refundable $40 quick start fee. Drivers are given a minimum rental of 1 week and if both Enterprise and Uber approve of you, you get to keep the vehicle for longer. There is no mileage cap and vehicle maintenance is done by vehicle manufacturer. You can visit here to learn more about this option.
Drivers have access to cars like Toyota Corolla, Nissan Sentra, Hyundai Elantra, Chevy Cruze, Ford Focus, Dodge Dart, and Honda Civic.
Uber-Hertz Rental Partnership
This option was born out of the Hertz-Uber Deal. This also provides rental solutions for drivers who need it. Drivers in Los Angeles will be allowed to rent cars from certain off-airport Hertz locations. The deal could be expanded to other areas in the United States and as time goes on, may become a country-wide partnership.
Hertz has made it known that the cars can be used by Uber drivers at any time – whether it’s for personal or rideshare business. Hertz reached a similar agreement with Lyft in 2015 and that partnership saw Lyft drivers in Las Vegas and Denver renting cars from Hertz to use for their businesses.
- Drivers have to pay $180/week, taxes and fees inclusive
- Drivers have to pay a $250 refundable deposit.
- Unlimited mileage
- Maintenance costs are covered by Hertz.
- Drivers have 7 days minimum, 28 days max.
HyreCar is a vehicle rental market, designed for all on-demand services. With this service, you get BMWs, Prius, and Minivans which are mainly put up by private car owners who want to earn money with their cars when they aren’t driving it. This is a note to drivers who want to keep earning money even when they are not driving Uber passengers themselves.
This service allows drivers to switch between Uber services by renting different types of cars probably to test the different Uber services or to use in certain areas where they are more requests under that service. You can subscribe to the daily, weekly, or monthly plan and terms like rates and mileageare largely controlled by the car owner.
This option is available for drivers in South Africa. Uber’s partnership with Wesbank in South Africa has proven to be an avenue for Uber drivers to become entrepreneurs. Simply, this strategic partnership allows Uber drivers who do not qualify for traditional loans to obtain a full vehicle maintenance lease issued by Wesbank at discount rates.
For exisiting Uber drivers
Instead of focusing on the driver’s credit ratings, drivers will be approved for the vehicle leasing program based on their record with Uber and their earnings. Any driver who has been on the Uber platform for a while can get the chance to be their own boss.
For new drivers
Car rentals companies will also be offering those interested in joining the Uber platform a chance to rent approved cars to use on the platform. According to Wesbank, drivers can have access to short term rentals from the following car rental companies: Hertz, Europcar, Pace and Fleet Data Technologies. This offer is available until the driver has built a record and the earnings required to be approved for the Uber Wesbank Vehicle leasing program.
Driving for Fleet Owners
You can have more than one car registered on the Uber platform; this will qualify you as an Uber fleet owner. You can have more than one car registered on the Uber platform; this will qualify you as an Uber fleet owner. Uber fleet owners have vehicles registered on the Uber platform but do not drive for Uber. Rather, Uber drivers can indicate interest to drive for Uber fleet owners. Sign up to become an Uber driver and Uber will link you with a fleet owner. This way, you do not bear the responsibilities that come with owning a car and all you do is drive and get paid by the Uber fleet owner.
Our Uberkits were crafted with the Uber partner program and Uber drivers in mind. For Uber Drivers and Entrepreneurs who are looking to do proper due diligence before acquiring a car and want to assess the profitability of Uber as a business whether as a one man business (a sole Uber driver), or as an Entrepreneur with multiple Uber cars in his/her fleet, then you might just need to check out either of our Uber Kits at the top right of the linked pages below:
The Uberkits provide a vast amount of professionally vetted information and business analysis that will help you run a successful uber business.