Top 10 Saving Tips to Save Money on Lyft

Lyft is your go-to ride service if you need to get to school, work, run errands, or need a safe driver for a night of fun. Lyft connects riders with drivers in their area to get them where they want to go.

If you want to sign up for Lyft, you’ll need to set up an account with your mobile device. After you’ve completed that process, you can choose to ride anywhere and match with a driver who can take you there.  

After confirming your location, a screen will pop up and give you information on how long it will be until your driver arrives. You’ll receive a notification when your driver is about to get to your location. Once your driver pulls up, you’re able to hop-in and take a safe drive to the destination of your choice.

While the rides might seem cheap, they can put a severe dent in your wallet. If you’re unsure how to get the best deals on Lyft, you could be wasting money. Check out our top tips to save money on Lyft, so you don’t have to spend a ton of money on your next ride.

1. Sign up for a Chase Sapphire Reserve Card To Receive a Free Lyft Pink Membership

If you sign up for a Chase Sapphire Reserve card, you’ll receive some incredible perks, such as a year of complimentary Lyft Pink Service. This membership program allows you to receive special discounts on rides and priority when you order in high-demand areas. While it usually costs $19.99 a month to use, you’ll receive it for free with a Chase Sapphire Card.

2. Understand the Differences Between Fares

If you’re going to order a Lyft ride, you’re going to notice a bunch of different ride options available to you when you set your destination. Knowing the difference between the rides and only pick the one you actually need can save you some serious money. Here are the typical rides you will see in your Lyft application

  • Lyft: This ride can fit up to three passengers. It’s often a smaller-sized car with four doors.
  • Lux: Like the Lyft ride, the Lux can fit up to three passengers. Your car will be either an SUV or a higher-end Sedan. The vehicle will have leather-like or leather seats. This is considered a luxury experience but is more expensive than a regular Lyft fare.
  • Lux Black: This car can fit up to three people and is defined as a super high-end SUV or sedan. This includes cars such as Lexus, Cadillac, or BMW. Black exteriors and leather seats are required for these types of rides.
  • Lyft XL: This vehicle is large enough to accommodate up to five passengers instead of the standard three-passenger cars. They are more expensive but can hold more people.
  • Lux Black XL: Similar to the Lyft XL, these cars can hold up to five passengers. The vehicles are high-end SUVs or sedans and include car brands like Cadillacs, Lexus, or BMW.
  • Lyft Shared Rides: Shared rides can accommodate up to two people. You will incur additional stops or pickups along your ride path. However, this is typically the least expensive ride.

3. Sign Up Using a Discount Code

Before you take your first ride or even create an account, make sure you’re using a Lyft discount code to save a ton of money. If you’re looking for ways to save money either as an existing rider, or a new rider, you need to keep an eye on Koopy’s Lyft coupon page. Bookmark the link to refer back to this page to find fantastic discount codes quickly. 

You can either receive up to $10 off your first ride, or you can save up to $25 off your first three rides. This allows you to choose how you want to use your promo code.

When you create an account, you’ll be able to add the promo code by clicking on the menu icon and tapping the rewards button. From there, you’ll need to click on the button that says “Enter Promo Code” and add the discount code in that box. Once you’re finished, the discount will be automatically applied to your account.

4. Send Ride Referrals to Friends

If you live in or near certain cities, you could recommend the Lyft app to users who don’t have it yet and receive money off your next ride. If they have already taken their first ride, they will be unable to use your referral code.

If you want to refer a new rider, open your application and tap the “Get $5 Free” tab from the main menu. The app will give you a unique referral code you can share with your friends.

You won’t receive your credits right away. Lyft will not give you the $5 discount until your friends take their first ride. If they don’t use the credit within the first 14 days, it will likely expire. Encourage your referrals to use the credit right away, so you can save money off your next ride.

5. Choose Shared Lyft Rides to Save Money

The most inexpensive way to take a ride with Lyft is to ride in one of their shared rides. With Lyft’s shared rides, you’re matched up with other passengers that are headed in the same general direction as you and pay a fraction of the cost of a regular Lyft ride. If you have more than two people in your riding party, you will not be able to use the shared ride service. You’ll need to order a regular Lyft instead.

It’s important to note that it may take additional time to get to your destination as there will be extra pickup and drop-offs along the way. Do not choose this option if you don’t have flexibility with the time you need to arrive at your location.

6. Avoid Surge Pricing

If your area contains many people trying to order a Lyft ride at one time, Lyft will typically raise their ride fares, known as surge pricing, to attract more drivers to log onto their platform. While you’ll always be able to find a driver during those busy times, you’ll be paying up to three times as much for your ride. If you don’t have to leave your location immediately, consider waiting until the surge ends and prices drop, which is typically between 20-40 minutes.

7. Compare Prices With Other Ride-Sharing Services

Lyft might not always be your cheapest option. Before accepting a ride with the Lyft platform, compare the pricing to other popular ride applications, such as Uber.

To compare the fares, open up both applications and type in the same destination as your end location.

You’ll receive fares from both platforms and will be able to choose the best option to save you the most money. If you’re going to use Uber instead, make sure to check out our top Uber savings tips.

8. Avoid Holiday Rides with Lyft

Lyft is known to raise its prices around busier times of the year. If you’re thinking of using Lyft for a ride on Memorial Day, Fourth of July, or even on New Year’s Eve, think again. The price is going to be more expensive during those holidays. If you want to save some extra money, don’t waste your cash riding with Lyft on those busy days.

9. Invest in a Lyft Smart Savings Plan

If you’re looking for a way to take rides that won’t break the budget, consider signing up for Lyft’s Smart Savings Plan. You’ll need to sign up through the application to be a part of the savings plan. The plan costs $15 a month and will let you take unlimited rides within your city limits.If you take less than 34 rides in one month, you will want to sign up for this plan. If you need more rides than that per month, this would not be a suitable option.

10. Sign Up to Be a Lyft Driver

Did you know you could drive around in your own car and make extra cash? Lyft drivers are able to work around their schedule and make some money fast. If you want to save money on your future rides, consider working for Lyft.

They will even let you rent out a car if you don’t own one. When you’re ready to cash out your earnings, you can either have them transferred to your bank account or use them towards future Lyft services.

Spend Less on Lyft With Our Top Tips

After you’ve read through our countless tips to save money on Lyft, it’s time to use them to start saving on your next ride. Make sure that you’re never paying for a full-time ride again with Lyft. 

Did any of these savings tips work for you? Let us know in the comments below what your favorite tip was.

Laura is an experienced copywriter and a contributor from San Diego who enjoys creating a better world through writing. In her free time, you can find her playing with her three puppies, working out, or surfing at the beach.

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