On Thursday, both Uber and Lyft reached agreements with Hertz to supply drivers with vehicles that the rental company is looking to rotate out of their fleet. Mid-sized cars for Lyft and Uber drivers will rent for $180 a week, including all mileage and insurance costs while compact vehicles will go for $165. Apparently the vehicles will be in good condition and “well-maintained”.
“We believe renting to ride-sharing drivers will be more profitable than selling these vehicles, but that’s something that we’re going to learn in the first year of this supply agreement. We consider this agreement to be largely complementary to our car-rental business, and it enables us to leverage our fleet and distribution infrastructure to participate in the dramatic growth in the ride sharing, or e-hailing.”