Lyft announces $299 subscription plan, but you won't get unlimited rides

Lyft is launching a subscription service, but you need to read the fine print. Lyft is launching a subscription service, but you need to read the fine print. Photo: Angela Weiss / AFP / Getty Images Photo: Angela Weiss / AFP / Getty Images Image 1 of / 35 Caption Close Lyft announces $299 subscription plan, but you won't get unlimited rides 1 / 35 Back to Gallery

Lyft is hoping to lock in some regular riders with a new subscription plan.

The San Francisco-based company announced what they are calling the "All-Access Plan" in a blog post Tuesday.

"Passengers pay up front every 30 days to lock in a set price for their rides. Starting today, passengers can subscribe to the plan. It will be available to everyone in the U.S. by the end of the week," read the announcement.

The plan includes up to 30 rides valued at $15 or less each. Plan holders have to pay any cost over $15, and unused rides will not carry over to the next period of the plan.

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So, someone taking 30 rides at $15 could potentially save $150 over that time. However, if you take rides that are less expensive, or you fail to use all 30 rides, you could come closer to break even or even potentially cost yourself money by signing up for the subscription.

RELATED: Study blames much of increased SF congestion on ride-hailing

Lyft launched in 2012, and quickly grew to service hundreds of U.S. cities, though it still trails rival Uber in terms of global ride-haling footprint.

As The Chronicle reports, a new study from the San Francisco County Transportation Authority sheds light on the potential impact of Lyft and Uber on city congestion. Researchers suggest that roughly half of the increased traffic seen in San Francisco in 2016 as compared to 2010 could be attributed to ride-haling services.