Published: Wed, October 17, 2018
Markets | By Otis Pena

Lyft launches monthly subscription service to lure vehicle owners

Lyft launches monthly subscription service to lure vehicle owners

That $300 per month will cover 30 rides over the course of the month, as long as those rides are valued at $15.

The big picture: Lyft's new subscription plan is a solid value for frequent users although notably, unused rides don't roll over to the next month. If your rides typically cost between $10 to $15, you're saving money - you'll be less likely to use Lyft's rival if you know you're getting a better deal.

Ride-hailing service Lyft has rolled out a subscription plan nationwide that gives heavy users a potential savings on rides. Lyft applies a 5 percent surcharge to any rides beyond the monthly allotment of 30. With it, folks who know they use Lyft frequently can pay $300 per month, which will set a specific per-ride price throughout the stretch of time, and avoid having to pay for each individual ride.

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Lyft's ride-sharing rival Uber is also testing a monthly option called Ride Pass, which offers discounts on eligible rides by paying a one-time activation fee. Starting today, passengers can subscribe to the plan.

Lyft says the plan is valid for rides taken anywhere in the U.S. where the company operates, and that everyone should have access to the plan before the end of the week. If any of your first 30 rides go over $15, you'll have to pay the difference. At $300 per month, though, it might feel like an obligation to use the service every single day.

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