This Guide Will Show You How To Rent Out Your Car
According to, a study by Auto Rental News, the industry's revenue has experienced unprecedented growth. "Overall revenues of $28.1 Billion in 2021--a 21% increase over the pandemic years of 2020" is the result. This was the biggest growth in the rental car industry's history. Private vehicle owners are now exploring ways to rent their cars out to share the revenue.
Global Workplace Analytics reports that "the number of people working remotely has increased 159%" since 2009. This equates to roughly 26% of America's workforce or approximately 4.2 million workers. This leaves millions of cars in the garage or driveway and potentially more income for those who log in from home.
The average cost of owning and driving a car continues to rise and rental car prices continue to rise. This makes the idea of renting a car more appealing. That's where car-sharing businesses come in. The modern alternative to traditional car rental is the car-sharing company. This allows people to rent their cars. Renters get a car without having to commit to a long-term, expensive purchase. Car owners can also enjoy a supplementary income. Continue reading to find out more about renting your car and how to ship it to renters across the U.S.
What is the cost of renting a car?
The amount you make renting your car out depends on many factors. Are you located in an area that is densely populated and has many potential renters? Do you rent out a special vehicle such as a vintage collector car, or an off-road vehicle? These details will affect your rental payout as well as the company through which you rent.
Many car-sharing companies offer online calculators and estimates that will help you estimate the amount of profit you could make from renting your car. HyreCar estimates that renting your car can earn you about $9,000 per year. This is a good profit for a car that may otherwise be sitting in a garage getting rusty.
Is it safe for you to rent your car?
Although lending your car to someone you don't know might seem risky it is possible. Car-sharing companies offer comprehensive coverage and inspection plans that will ensure your car is safe. There are many options available, with some providing full Allstate coverage, while others offer multiple protection packages. No matter what service you choose, your car is insured against theft and damage. Before you rent your car out to someone else, make sure you read all the fine print.
What are some of the most popular car-sharing services?
Many car owners are making the most of their underused and unused vehicles, much like Airbnb property owners. The digital marketplace makes this possible. Peer-to-peer vehicle rental is gaining popularity. This allows people to list or rent vehicles from others and create new websites and apps.
Signing up for a car-sharing company is a good way to start. Provide all information about your vehicle. Renters can then view the listing and contact you to book a car. You will need to ensure that your car is in good condition before you list it. You should also document the car's condition before you rent it out to someone else. Take note of any dents or scratches.
Here are some popular sites where you can list your vehicle for rent:
- Get the best deal
- Get Around
Renters are increasingly turning to car-sharing services
Names like Hertz, Enterprise Rent-A-Car, and Avis are all common names when people think about car rental companies. These rental companies have been around for decades. They share many similarities, including large fleets of cars, regulations, and fees. Due to the high prices, limited options, and lack of flexibility offered by these rental companies, people are increasingly turning to car-sharing services.
Drivers who are looking for an affordable and easy alternative to traditional car rental agencies can use car-sharing services. This modern car rental solution is increasingly popular with drivers who need a vehicle while their own vehicle is being repaired, as well as gig workers such DoorDash and Uber drivers. These services offer many advantages, making them a desirable alternative. These are the reasons car-sharing services are displacing traditional rental agencies:
More unique options
Car rental companies will typically only offer a limited selection of vehicles. Most cars on-lot are also very generic. Car sharing allows drivers to interact directly with owners of rare and specific vehicles.
Renters who are looking to rent a Corvette will find it easier to connect with someone renting it through a car-sharing company than they would with a rental company.
Do you own a classic car that you need to transport it? Move Car can safely ship classic and exotic cars.
Lower cost and fewer regulations
Avail and Turo are car-sharing companies that promote transparency and open pricing. This helps to keep travel costs low and makes it easy to book last minute. This is a great option for those who are planning spontaneous trips or have unpredictable schedules. These services remove certain barriers that can make it difficult for some people to rent vehicles. Avail makes car sharing easier for anyone looking for a ride.
There is less waiting in line
The cars that are booked through Getaround will be at their destination pre-arranged by the vehicle owners so that drivers can pick up the keys and get on the road. The car owners can drop their vehicles off before they pick them up, and renters are free to skip the line at rental desks.
How to rent a car from a rented place
You can choose to let the renter drive, walk, or use public transport to pick up your car. This might not be the best way to hand over your vehicle. It's possible to arrange a meetup at a central location for you and your renter. This will ensure that neither party needs to travel far and that it is safer to meet in public spaces than in private addresses. You could also park the car in a storage facility, and let renters pick it up by leaving the keys in the lockbox. You should change the lock combination after each renter if you do this.
An auto transporter is a great way to deliver your vehicle to customers in remote areas. Continue reading to learn more about car shipping.
Send your car to renters
It can be difficult to get your car to potential renters who may live all across your state or country. A professional vehicle shipping company is recommended if you have a potential renter who's interested in renting your car. They will get it there quickly and safely. Learn how you can choose the best auto shipping agency, and then prepare for car transportation success.
Move Car is the U.S. leader in auto transport. Their mission is to deliver a 5-star experience for every customer. Move Car has a wide network of carriers that can ship your car anywhere in the U.S. so you can rest assured your vehicle will arrive on time and safely. Get an instant quote for your car shipment. Or, call us to speak with a vehicle shipping advisor.