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Should I Rent My Car To Other People?

Short term renting has become a viable option for people who are looking for assistance in the cost of owning a vehicle. This is an option if you live in a large city where parking a car can be difficult and expensive. Renting your car out to someone else can be an easy way to recoup the cost of a parking space, higher insurance rates or registration fees. This service is called car sharing. junkyards near me

Car sharing has become more popular in the past few years. There are companies that hav e sprung up in large cities which make it easy and affordable to borrow a car for a few hours a day. There are also individuals who want to share their cars with other individuals. These are called peer to peer car sharing services. The owner of the car lists their car and the available hours on a website. When someone is looking to rent a car for some errands or a short trip, they can log on to the car sharing website and see what cars are available. Need a truck to move some furniture for the day? Log on to the website and search for the size truck you need.

If it’s available you can then contact the owner to arrange a pickup and return time.

Worried about renting your car out to strangers? It’s understandable. We have all been in a normal rental car that has been beat up by someone who has rented it in the past. In order to combat this rental car abuse, renters have to register for the car sharing service before they are allowed to rent anything. New renters are screened to ensure that they have a clean driving record. Penalties can be assessed to drivers who regularly return the cars late or dirty. The car owners can also leave feedback for all their renters. This will help the renter build a good reputation with future car owners if they need to rent a different kind of car. Responsible car renters with positive feedback usually have no problem renting a car from the service in the future.

This isn’t a get rich quick type of service. The owner usually will make a few dollars an hour letting someone else use their car for a few hours a day. Depending on demand, you can rent your car out as often as a request comes in or be more selective to when you rent. An SUV can rent for up to $9 an hour whereas a smaller, older sedan can be had for $5. On average, a car owner who shares his vehicle for only 10 hours a week can make an average of $250 dollars a month. In cities that charge you for a parking space like San Francisco or New York, car sharing can cover the cost of parking your car.

One drawback of this type of service is you have to be around to rent your car. If someone needs a car, and you aren’t available, you miss out on some income.

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