Lyft will pay you $550 to ditch your car for a month

Lyft is raising the stakes in its mission to dominate all modes of transportation in major cities. Starting in August, the ride-hailing company will offer 100 residents of Chicago $550 each in credit to Lyft and several other mobility services if they ditch their personal vehicles for a month. It’s a bold, if slightly gimmicky, way to highlight the high costs associated with car ownership, while also promoting cheaper alternatives of getting around.

To be sure, Lyft isn’t handing over $550 checks to people and then sending them on their way. The money will come with strings attached. Those who accept the challenge to put away their car keys for 30 days will get $300 in Lyft shared ride credit (for use in carpool trips only), $45 for a...

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