A Price Comparison Between HyreCar / Hertz / Enterprise / Maven / Xchange Leasing

Getting access to a qualifying car is one of the biggest hurdles to getting started as a ride share driver. Today we’ve partnered with Hyrecar to bring you some information about the cost differences between the major available rental and leasing services. Even if you already have a car, you may need to temporarily rent or lease one in the future if your primary car has to be taken out of action for some reason. 

There are plenty of people who have a driver’s license and would like to work for Uber or Lyft, but not everyone has a car. Fortunately, there are a large number of companies that offer cars for rent. The problem is choosing the most suitable company with the most favorable terms.

The number of ridesharing companies that offer rentals is significantly growing which is why it may be hard to choose one that is right for you.

Among vehicle solutions for ridesharing companies like Uber and Lyft in the US, there are Enterprise, Hertz, Maven (General Motors’ project), Xchange leasing (Uber’s project), and HyreCar. These car rental companies are all similar in one way: they operate in the US and provide cars for driving with Uber or Lyft. However, their terms of agreement, specifications, and prices vary.

As you see below, we have made both a price and a non-price comparison to make it easier for you to choose a company that fits your needs and budget.

Price Comparison

In this section, we will compare what the common payments and fees are for each rental company. It includes the initial fees, weekly fees, refundable deposit fees, and weekly vehicle rental fees.

These charges greatly vary because they will depend on the specific vehicle you choose to drive and your location. To learn more precise information regarding costs, you should sign-up on the car-rental websites and look over the pricing information provided to you for your particular area and car specifications.

Refundable deposit fee and Initial fees

You pay a deposit when you make a reservation and wait until you pick up your rental vehicle. Consider what these companies charge.

• Hyrecar: $200 refundable deposit + $29.99 background check fee
• Hertz: $20
• Enterprise: $350
• Maven: See below
• Xchange Leasing: $250

Maven requires a deposit of either $50, or the amount of the rental (whichever is higher). Xchange leasing has no refundable deposit. Hertz and Enterprise have the same cost of $250 while HyreCar is $50 lower.

Weekly vehicle rental fee

Every driver who rents a car for five days or longer should pay a weekly vehicle rental fee. Consider what each company charges.

• Hyrecar: $180 – $250 depending on car model
• Hertz: $180 + additional fees
• Enterprise: $245
• Maven: $150 – $250
• Xchange: From $120

Prices here will be contingent on the car model. Xchange leasing has the lowest starting price at $120. Mavens’ prices start at $150, Hertz asks for $180, and HyreCar’s prices start at $180.

Non-Price Comparison

Prices here will be contingent on the car model. Xchange leasing has the lowest starting price at $120. Mavens’ prices start at $150, Hertz asks for $180, and HyreCar’s prices start at $180.

We considered that it is worth it to compare these companies by other parameters (not only price) for you to have a fuller picture of the advantages and disadvantages of working with each organization.

Here we compare the options of working for Uber and Lyft, areas where the companies operate, minimum rental periods, and driver’s minimum age requirements.

The next point of comparison is the likelihood of becoming an Uber or Lyft driver. Not all companies from this list will give you the opportunity to drive for the company you want.

Can you become a driver for Uber, Lyft or both variants?

Hertz, and Maven provide you with two variants: work for Uber or Lyft. However, be aware that Hertz and Maven only recently started their Uber program which is why they do not yet have a presence in very many cities. With HyreCar you can drive for any on-demand service, i.e. Caviar, Postmates, DoorDash etc.

Let’s take a look at the cities and states where you can rent a car with the help of these rental companies.

Areas where the companies operate:

Minimum rental period

The minimum rental period is the shortest amount of time for which you can rent a car.

• Hyrecar: 2 days
• Hertz: 1 week
• Enterprise: 1 week
• Maven: 6 weeks
• Xchange: 6 weeks (4 weeks, must give 2 weeks notice to return)

HyreCar is leading in this comparison as you can rent a car for two days and return it without any losses. For other companies, you not only have to rent an automobile for 1 or 6 weeks, but you will also pay weekly fees even if you do not want or need it anymore.

Driver’s minimum age requirement

It is also crucial to know at what age you are eligible to drive with some companies.

• Hyrecar: 21
• Hertz: 25
• Enterprise: 25
• Maven: 25
• Xchange leasing: 25

HyreCar and Hertz have the lowest driving age requirement, while other companies require their drivers to be at least 25 years of age or older.

Overview

When choosing the most suitable car rental company, you should start with comparing rental prices for the companies present in your area.

Here you should analyze:

• Initial fee
• Deposit fee
• Weekly vehicle rental fee and any other additional fees

At the same time, you should also consider multiple non-pricing factors and requirements:

• Whether or not you can drive for Uber or Lyft
• What their minimal rental period is
• In which areas the companies operate
• Whether you are eligible to rent a car or not

Please note that not all rental expenses are described here. For most companies, you will likely pay additional taxes and fees. For example, Xchange leasing also asks for a disposition fee which costs $250. Furthermore, you may need monthly insurance which can cost from $100 – $300 depending on the company. Also, do not forget to incorporate gas expenses into your overall calculations. Once you have considered everything, you will have a greater understanding of which company to choose for your particular needs.