Renting your own car! How Simple it looks and how complicated it becomes? The thought that definitely crossed your mind. Having a car is an investment, maintaining it is an expense but earning from it is the delight and it’s practically possible. No Kidding! In this article, I will step by step guide you how you can rent out your car and earn bucks.
We all know the drawbacks when registering your cars with the Cab aggregators like Uber, Lyft, Ola. The inaccessibility of cab drivers, maintenance of the car, the fuel & distance check and to achieve daily ride target. All these results in a cumbersome situation & shade away the bright side of our investment.
So, for all those busy personnel who are unable to find time to drive a cab or want to live a peaceful life at home, the better option is to rent out your car by listing on to the marketplace where active travelers are seeking for a local car.
How this Works?
Simple, as it looks! You have a functional car. Register that on the Service provider websites(different for every country which I have mentioned below). After listing your car on the website and certain quality checks, you will get a mail regarding your car submission and it’s availability. Registering successfully, you will soon get requests depending on your location or city you live in. The prospective person will come at your pick up location to get the keys. When the trip will over, you can get your car delivered at your desired venue(home, office, gym). So, no hassle, & no getting anywhere.
How(& how much) you will earn?
The only thing that matters is the money that gets into our pocket, Right! And I’m very confident you will definitely get a handsome amount with this. The service provider will take an advance amount from the travelers. After deducting their commission(20% or 30% typically), you will get the wholesome of money into your bank account.
Also, before you accept the offer, you will get the completed details to whom your car is rented and the final payoff amount, so that you can choose if it suits you.
How much will you get depends on the below-listed factors
- Car Brand
- Condition of the Car
- Market Value of the car(which will be provided by the platforms listed below)
- Number of the days the car is rented
- Time of the year when the car is rented
Why you should invest in Renting out your car?
- Complete Cover against Theft and Physical Damage
- Car Insurance
- Holistic Background check of the Travelers
- Refiling the complete car fuel
- GPS tracking so that you can know where your car is
- It’s free to register and list your car
So, now the most important and crucial part is to know the trusted platforms which will have all of the above factors and can get you the maximum ROI. Mentions below are the best car service provider that are available in different countries. Go on and find yours!
In case your country is not mentioned above, you can go for global service provider and one of the best in the Industry. Turo.com has a pool of Worldwide car owners that provides an ease of renting a car and at the same time earning money from an unused asset.
Tips for your Safe Earning
- Take a complete video of the inside and outside of the car in case any damage occurs while traveling.
- Have a nice handshake with your fellow renters so that you know the type of people your car is rented to.
- Check the car’s dashboard and trunk if you have left something that belongs to your family.
- You know your car mileage. Have a quick look of the overall distance before and after renting your car.
I hope this article has covered almost every aspect that you need to know to rent out your car and earn money. Please share your opinions in the comments section below and do let us know if you have faced any issues in car renting. We all are scared if someone uses our stuff(in this case, car), but to make money out of it, we need to be smart, be practical and think positively of the financial freedom that can be achieved by renting the car.