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Lyft lowering rates to 43.5 cents a mile in Florida & Vegas

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Uberserge
1040 Rider Driver
 Posted 1 month ago

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Good old pink mustache Lyft, lowering rates to 43.5 cents a mile while IRS deduction is 58 cents. Pretty soon they'll ask us to pay them to drive for them. Bring on AB5! The evil must be stopped. 

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    MickDorsey
    95 Driver
     1 month ago

    OMFG.

    Sergio, great job on comparing this to the per mile IRS deduction.  That REALLY puts it into perspective.  Whatever they do to justify or calculate the IRS's mileage rules should be pulled up and compared against how Lyft justifies their own rates.

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      OP 1040 Rider Driver
       1 month ago

      They don't care, they've oversaturated market to such extent that even if 20% quit they know they'll have more than enough new blood to suck on. Bring on AB5!

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    bobshmob
    50 Driver Driver
     1 month ago

    LOL re: pretty soon they will ask us to pay to drive for them. I wouldn't put it past them. They will find some sneaky way to make it seem like it is worth it. Perhaps a "special driver badge" for $29.99 a month that gives you certain advantages over other drivers but when you do the math you actually lose money. Yep, I bet that will happen.

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      OP 1040 Rider Driver
       1 month ago

      Uber used to have medallions, pure money maker a few years ago, it's coming full circle but now UBER owns the medallions.

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    RedANT
    1062 Rider Driver
     1 month ago

    The rideshare companies don't care how cuts affect drivers as long as they continue to have an overabundance of drivers willing to work at those crap rates.  Don't agree with it?  Stop driving Lyft and move to Uber.  If everyone stood up and walked away at the same time, they'd backtrack as fast as they did with the stupid ass Taco Bell "taco mode" idea. 

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      OP 1040 Rider Driver
       1 month ago

      Uber can't be too far behind. Lyft used to follow UBER now Lyft is taking the lead in many areas. I guess as long as they habe fresh blood to suck on, they'll keep bringing it.

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    Jpeckvip
    24 Rider Driver
     1 month ago

    That not counting the 25% commision that lyft takes either! 

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      OP 1040 Rider Driver
       1 month ago

      25% on a good day

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    JonHogan
    84 Driver
     1 month ago

    So you lose 4.5 cents every mile you drive.  Seriously, why would anyone work in Florida and Vegas?

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      Jpeckvip
      24 Rider Driver
       1 month ago

      That’s not even counting the Lyft’s 25% commision either! 

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      OP 1040 Rider Driver
       1 month ago

      Good question, that's the brow lift taking advantage of desperate people. It's more like 14 and a half cents loss a mile

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        Jpeckvip
        24 Rider Driver
         1 month ago

        That’s not counting the 25% commision lyft take either! 

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    jcgreen79
    164 Rider
     1 month ago

    Bump. 

    You should put that IRS deduction in the title of the topic.

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    DaveJMatthews
    59
     1 month ago

    Wouldn't this be illegal in some ways? The rates being lower than the Federally approved per mile rate?  I guess it all matters on what's agreed upon, huh?

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    Wes
    1572 Rider Driver
     1 month ago

    But they increased the per minute rate considerably as I understand it and ARE paying you from the time you accept the ping.  So now you DO get paid to go pick the passenger up, correct?

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      OP 1040 Rider Driver
       1 month ago

      I've done specific spreadsheet analysis, it's a cut in driver pay. In North Dakota, where all the pickups are far away, it's beneficial for the driver, in major cities where Lyft gets the majority of their business, like Los Angeles or San Francisco, it's a major cut to the tune of 20%. Take a look at these rates, the driver doesn't get paid for miles and minutes It's a flat pickup rate.


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      OP 1040 Rider Driver
       1 month ago

      Not sure if you're a driver for either platform but do you think the time bump makes up for the 50% in mileage rates? Take a look at your rides and run a simple spreadsheet, you'll see what kind of hit you'll suffer.

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    wraiththe
    190 Driver
     1 month ago
    It is hard to believe... Sounds like complete insanity.
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    KarinaWakaba
    12 Rider
     1 month ago

    IRS rate is supposed to be how much it costs to operate the vehicle in terms of fuel, wear and tear, maintenance fees, etc. 

    ...and it does NOT consider for the time incurred by the driver.

    If Lyft is really only offering this much, every ride will be at a loss.

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      RedANT
      1062 Rider Driver
       1 month ago

      The IRS rate is based on business vehicles, like semis and large commercial vans and box trucks that get under 10 mpg.  Using that to figure out driver expenses is useless. FWIW, my average cost to operate my vehicle is approx 30 cents per mile.  

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      OP 1040 Rider Driver
       1 month ago

      Yes for the driver, most rides are at a loss with these rates. Not for Lyft or Uber though. Take a look at the rate cards I posted for Vegas and Phoenix, unconscionable!