Tuesday, October 26, 2021

Lyft Decreased Fares to Compete with Uber

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Lyft recently decreased its fare by up to 20% in many cities.  This was due to a $250 million increase in funding from investors.  I use Uber quite often, but only used Lyft once.  My impression of Lyft was that it is a friendlier Uber, but probably less professional than Uber.  Lyft was also a bit more expensive than Uber at the time, but now that rates have decreased, I wanted to compare both of the current rates now that Lyft decreased fares to compete with Uber.

Uber in Los Angeles currently costs:

  • $1.61 base fare
  • $1.25 per mile
  • $0.29 per minute

Lyft in Los Angeles now costs:

  • $1.00 base fare
  • $1.00 trust and safety fee
  • $1.25 per mile
  • $0.29 per minute

Cheaper Lyft Prices in Los Angeles Now

Cheaper Lyft Prices in Los Angeles Now

As you can see, Lyft and Uber have the same per mile and per minute cost.  However, Uber has a $0.29 less base fare than Lyft.  I really think this difference is immaterial between Lyft and Uber.  However, one practical situation I faced was when Uber had surge pricing of 3.0X!  I checked Lyft and it had 2X surge pricing (+100% tip).  In this case, Lyft was cheaper than Uber.  It’s a good practice to check both apps to see which one will have a lower surge pricing in high-demand times. 

I use both Lyft and Uber, but I think it all matters on preference.  Do you want to be social and talk to the driver? Choose Lyft.  Do you want get from point A to point B without talking to anyone? Choose Uber.  From my experience, Lyft drivers are usually the young and hip generation and Uber drivers are immigrants who have been here for a few years.  Nonetheless, both Lyft and Uber get me from point A to point B.

It doesn’t hurt to get some free credit for yourself from both Uber and Lyft.  My Uber link will earn you $20 free credit and the Lyft link will earn you $25 free credit.

Uber Sign Up Link ($20 free credit)

Lyft Sign Up Link ($25 free credit)

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Joseph Browns
Joseph Browns has been writing since he was a child and in addition to being a writer and professional writer, Joseph is also a web developer. His mother was also a very talented writer, and because Wool had the potential to be a writer from a background, his wife Allen also greatly encouraged his success, and he is now a financial graduate, and he chose to share his knowledge with the public by writing in the field of finance.

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