GM Will Rent Cars To Lyft Drivers For $99/Week

If you were wondering what General Motors planned to do with its $500 million investment in ride-sharing service Lyft, you might have an answer; or at least part of one. The carmaker will now rent out Chevy Equinox SUVs to prospective drivers who lack the all-important piece of the ride-sharing puzzle: a set of wheels. 

Dubbed Express Drive – the service which will launch in Chicago at the end of the month, with Boston, Baltimore, Washington D.C., and other cities joining the lineup later this year – is described by Lyft as a “flexible, all-inclusive rental program” aimed at providing drivers with affordable rates.

The rental fees for the SUVs, which includes insurance and maintenance, start at $99 per week. However, Lyft says if a driver provides more than 65 rides per week, the fee is waived.

If you drive fewer than 40 trips a week, renters will be subject to the $99 per week fee, plus $0.20 per mile; more than 40 rides but less than 65 will cost $99/week. The rentals can be arranged for one to as many as eight weeks.

Drivers who already have a vehicle can also participate in Express Drive.

Lyft says the program was created as a response to the high number of people who apply to be drivers but lack a qualifying vehicle. For example, the company says 60,000 Chicago residents applied to drive last year, but didn’t make the cut because they had no car.