Lyft: How to Calculate Your Fare

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Have you ever wondered how Lyft calculates their fares? Do you want to try to estimate your Lyft fare? There are a few key components that go into calculating and estimating a Lyft Fare, and we are here to explain each factor, as well as how they work together to create the Lyft pricing formula.

 

How is My Lyft Fare Calculated?

Your Lyft fare is first based on 4 main criteria:

  • Base (or initial) fare – A flat fee charged at the beginning of every ride
  • Cost per minute – How much you are charged for each minute you are inside the ride
  • Cost per mile – How much you are charged for each mile of the ride
  • Trust and Safety Fee – A flat fee to cover Lyft’s ‘operating costs’.

Here’s how Lyft uses the 4 main criteria above to calculate your fare:

Base Fare + (Cost per minute * time in ride) + (Cost per mile * ride distance) + Booking Fee = Your Fare

 

Other Key Factors in Determining Your Lyft Fare

There are a few more factors that influence your Lyft Fare that are not included in the 4 main criteria.

Tolls and Fees: Lyft requires all passengers to pay for any tunnel, bridge, or toll charges that are incurred during the course of the ride. These charges will be added to your fare total at the end of your trip.

Lyft Prime Time Pricing: Lyft Prime Time pricing is when Lyft rates increase to guarantee availability of cars. When the demand for rides cannot be met by the number of current Lyft drivers on the road, prices will increase. This, in turn, encourages more drivers to hit the road since they will make more money than usual (due to the increased Prime Time price). Lyft will always notify you before you request a ride if there is Prime Time pricing so you will never be caught off guard.

Your Lyft fare, with Prime Time pricing, is calculated by multiplying your total fare (before tolls) by the Prime Time price multiplier. For instance if the Prime Time amount is at 2x your total fare will be doubled, if the surge amount is 3x your total fare will be tripled.

Prime Time Pricing Example: If your total fare at the end of your trip is $15 and the Prime Time multiplier was 2x, your new total would be $30. Then Lyft would add on any incurred tolls.

Lyft Minimum Fare: To encourage drivers to pick up quick rides that will not yield much profit, Lyft sets a minimum fare for each service. This helps to justly reimburse drivers for short rides. If the combination of the above criteria results in your fare being lower than the minimum fare, you will be charged the minimum fare price instead. The minimum fare amount changes from city to city.

Minimum Fare Example: Say you are in a hurry and you decide to take a Lyft only two blocks down the street.  After your trip ends and you add up the four different Lyft fare factors (as shown above), you calculate that your fare should only be $2.98. But in your city, the minimum fare is $5, so you will be charged $5 instead of $2.98.

Lyft Maximum Base Fare: In some cities, there is also a maximum base amount that can be charged. This is designed for unusually long rides. The maximum base fare amount is as follows; $500 in New York City and New Jersey, $240 in Los Angeles, $200 for all other regions.

 

Lyft Fare Prices Vary Based on City & Car Service

The four main criteria factors that we outlined in section 1 (base fare, cost per minute, cost per mile, and booking fee) all vary from city-to-city, and across Lyft services (Lyft, LyftLine, and LyftPlus). To learn more about the differences between each Lyft car service visit this help page here.

Now that you understand all the factors that go into your Lyft Fare and how time-consuming it would be to calculate it on your iPhone calculator, try LyftFareFinder’s Fare Calculator! LyftFareFinder will calculate your Lyft fare using all of these factors with one easy click of a button. LyftFareFinder will even include real-time prime time pricing estimates and allows you to book your Lyft car straight through the site!

Happy Lyft-ing!

Introducing UberFareFinder, LyftFareFinder, and CurbFareFinder!

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The TaxiFareFinder team is extremely excited to announce the release of our three new rideshare based websites, UberFareFinder.com, LyftFareFinder.com, and CurbFareFinder.com. Each of these three new websites has been created with the same standards that we hold for TaxiFareFinder and have proven to give highly accurate fare estimates for the respective rideshare companies that they represent. On top of being able to give precise fare estimates that include real-time surge and prime time pricing, users are also able to hail their desired rideshare car directly from each Fare Finder website. Once a visitor finds a ride estimate he or she likes they can simply click on a “Request Service” button, where they will be taken directly to the designated rideshare companies’ website or mobile app to dispatch a car without entering any additional information!

We are thrilled to expand our technology into the rideshare space and we hope this family of Fare Finder calculators will help to bring transparency to the taxi and rideshare industry as well as help our fans to find the best deal. Try out the new Fare Finders today to learn which rideshare company is the best option for you.

To view the Press Release please click here.

 

To view a Text Only Press Release please see below.

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TAXIFAREFINDER EXTENDS FARE ESTIMATES TO UBER, LYFT, AND CURB

TaxiFareFinder.com, the leader in publishing taxi rates and information, has been a longtime favorite of travelers for their fare estimating tool. Now, the developer has extended its fare estimation to rideshare services, Uber, Lyft, and Curb. They are offered as three different websites, UberFareFinder.com, LyftFareFinder.com, and CurbFareFinder.com.

Boston, Massachusetts – March 15th, 2016 – Unleashed, LLC, the Boston based technology company best known for TaxiFareFinder.com, announced today the release of three rideshare based websites, UberFareFinder.com, LyftFareFinder.com, and CurbFareFinder.com. Each website is designed to introduce users to the respective rideshare services, rates, and fare estimates in a quick and user-friendly way.

Unleashed, LLC president Ippei Takahashi states, “With accurate fare estimates for Uber, Lyft, and Curb, our team at Unleashed hopes to bring further transparency to the travel industry.  It is our goal to equip travelers, so they can be informed, plan accordingly, and travel safely.”

The fare calculation support extends internationally and to virtually all cities Uber, Lyft, and Curb operate in. The sites are also capable of producing estimates for each companies’ different rides and services, such as varying vehicle types.

In order to get a fare estimate, users simply need to enter their “origin” and “destination” locations. The users can enter not only addresses, but also city names, landmarks, business names, zip codes, and coordinates (latitude and longitude). If the users do not have the exact location, the page can suggest locations through auto-completing fields.

For the benefit of those who immediately need a ride, the fare estimates displayed are in real-time, even taking into account Uber’s surge pricing and Lyft’s prime time rates. These warnings enable users to avoid unforeseen charges, choose the best ride option available, and be informed of the cost they will incur.

Once users have found an estimate and a service they are satisfied with, they can click on a “Request Service” button, where they will be taken directly to the designated rideshare companies’ website or mobile app to dispatch a car without entering any additional information.

The new Uber, Lyft, and Curb Fare Finder calculators will be an invaluable feature for those needing to research the cost of a trip before leaving home, or for those needing to verify their fare after the fact.

 

About Unleashed, LLC

Unleashed, LLC is a Boston based technology company that specializes in creating websites and smartphone applications to provide users with the information they need for daily decisions. The company is best known for creating the popular travel site TaxiFareFinder.com.  TaxiFareFinder, released in 2007, is an online resource for all things related to taxis and rideshares. TaxiFareFinder is best recognized for its groundbreaking, location based, taxi and rideshare fare calculators. With taxi and rideshare rates for more than 2,000 international locations, TaxiFareFinder is the proven, trusted trip companion for travelers around the world.