GM teams up with Lyft to offer drivers short-term rentals

Drive for Lyft without owning a car.

If you've been eyeing the ride sharing economy but your car isn't up to snuff Lyft and GM have teamed up to offer short-term rentals to would-be drivers. The Express Drive program is launching later this month in Chicago and will be launching shortly in Baltimore, Washington DC. and Boston.

The program will rent cars to Lyft drivers anywhere between one to eight weeks at a time. The cost of renting one of the Chevy Equinox crossovers will be based on how many trips the driver can secure. For less than 40 trips in a week, the cost will be $99 per week plus $.20 per mile. For more than 40 trips in a week, it costs only be $99 a week with no mileage fee. If the driver is able to pull off more than 65 trips in a single week, the weekly rate for the car will be waived.

The news comes only two months after GM invested $500 million in Lyft. The ride-share company has already teamed up with Hertz to offer short-term rentals. Now would-be drivers have an additional option.