Last Updated on: November 3rd, 2016
Here’s Lyft’s new driver sign up bonus offer: Get a $300 bonus. Apply now, and reap the benefits right away: Get an extra $3 for every ride you give in your first 30 days, up to $300. See Terms.
One of the reasons we love Lyft is its transparency when it comes to how much a referring driver and new driver gets upon signing up. They used to have a dynamic table on their website where you could see at a glance what each city currently offers for bonuses. That page is now gone and is replaced with conditions for the referral rewards for drivers. There are no bonus amount or city listed anywhere on the page. See example of the bonus structure table they used to have and the one we rave about!
So today, we get an email from Lyft about a new way of receiving the sign up bonus without going through the usual give XX amount of rides in 30 days and we’ll give you XX amount of money. SO instead of a lump sum payout, Lyft is giving away an extra $3.00 per ride bonus on the new driver’s daily ride income on its first 30 days, capped at $300.00. (The per ride bonus may vary depending on your city.)
Interested to start driving? Use referral code: MAE398950 to get the sign up bonus offered in your city. Want passenger ride credit instead? Use referral code: werideshare for $20-$50 ride credits. New passenger sign up only.
If you do the math, it is as a matter of fact a 100 ride requirement for 30 days in order to get the $300.00 reward. We would have preferred 50 ride requirement at least, to get $6.00 extra for every ride. Regardless, it is still a very good deal especially for those new drivers who are ambivalent about ridesharing. Over the course of two years since becoming Lyft drivers, we have referred a lot of new drivers and to our dismay, only 2 out 10 referrals actually finish the required number to qualify for the bonus amount.
We reached out and asked why they stopped driving but didn’t get any response. Our take is, once you start driving, just commit to the goal of reaching the required rides and then QUIT after. Why would one quit halfway through getting the bonus?! It doesn’t seem logical and practical to us… Unless, they got a really bad ride experience or they got into a bad accident, the rest could have been forged on.
Imagine you are required to do 100 rides to get $500.00 and for whatever reason, you couldn’t finish and only do 70 rides thereby forfeiting your bonus because the 30 days lapsed. We referred one person who did just that! What a real bummer!! With the new bonus scheme, that person would have been compensated $350.00 for her efforts for giving 70 rides x $5.00 even though he/she did not complete 100 rides.
So the new bonus scheme is perfect for those new drivers out there who are all about TESTING the waters first. You can dip, and decide if you want to swim full on. Meanwhile, you are already getting something extra while testing…
Would be drivers, we encourage you to reach out to us about anything! We have resources here for you to get started. Ask any rideshare questions and we’ll do our best to give you solutions and practical, no-nonsense advice! We love being on the road and you could be a part of that growing community…
Keep safe out there.
Be smart. Get a referral code before signing up. Here’s why you need one…