OK, so you want to make a little (or a lot) of extra cash by driving for ride sharing services like Uber or Lyft, but don’t have a vehicle of your own to actually do so?
Eh, don’t worry about that.
At least not anymore, as Hertz rental cars announced last week an agreement with both ride sharing services to make their vehicles available to potential drivers at an affordable price.
Hertz will start its test program with Lyft in Los Angeles and San Francisco, with an expansion expected afterwards. Lyft already has a similar program running in Las Vegas and Denver.
Hertz’s Uber deal will start in Los Angeles but is expected to expand to other markets as (or if) it proves successful.
It was unclear how much the cars would actually cost the drivers per day or week, according to CNN Money, but the announcement boosted Hertz’s stock by about 5 percent after it was released.
Hertz said that it would mainly be offering cars that are “rotating out” of its rental fleet, which means that drivers would be able to rent older vehicles.
The deal appears similar to the one Uber has forged with Enterprise, which allows Uber drivers to rent an Enterprise vehicle for $210 a month.
Hertz has had a tough time of it lately, with its stock dropping more than 40 percent over the past year due to competition and other factors, which has led the car rental giant to begin paring costs.
So any announcement that causes its stock to rise is good news for its investors.
It also appears to be good news for potential Uber or Lyft drivers who maybe wanted to try driving for either of the ride-sharing services but didn’t have a vehicle they could use to do so until now.
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