Earn extra cash by renting your car

In these financial times, anything you can do to earn a little extra cash is probably worth considering. swimming pool, RVsor a private car.

If you don’t drive or move it often, your car may provide passive income instead of collecting dust while losing value in your driveway or garage. There is: Iit is recommended to Drive at least once every 2-3 weeks Charge batteries, move fluids, increase tire pressure and minimize damage to the elements.

There are some car-sharing services that make it relatively easy to list and rent out your car when it’s not in use. We’ll show you how to make money with your car.

Choose a car sharing service

there is some car sharing services Similar to Airbnb, it allows people to book online and provides a portion of the user’s payment. As well as various protections for car owners.

• Turo: Turo is a peer-to-peer service that offers car rentals in all 50 states, plus the UK and Canada.Cars described as Turomast meet specific requirements, under 130,000 miles, clean titles, under 12, etc. The host vehicle protection plan is selected (the lower the take home percentage, the lower the deductible or no deductible. It also improves coverage for wear and tear and liability).

• Moving: Getaround is similar to Turo, which operates in 20 states. Vehicle he must be less than 10 years old and mileage he must be less than 125,000 miles. do not meet those requirements You may be subject to review. Getaround keeps 40% of the trip payment, and hosts are charged both a $99 setup fee and a $20 monthly fee. Part of Getaround’s model is power hosting, a type of small business for people who own multiple cars (up to a full fleet) available for rent.
• Hi-le car: HyreCar connects private owners with delivery drivers and gig workers who do not have vehicles covered by Lyft, Uber, or other services. clearly, your Vehicles must meet these standards, which vary from company to company. Respond to driver requests and coordinate document verification and key exchange. Receive 75% to 85% of the rental fee. which protection plan you want HyreCar will also reimburse the cost of cleaning.
• use: Avail connects drivers to vehicles at 15 airports in the US (and also offers transportation in downtown Denver and Chicago). The car must be 2013 or newer and the mileage he must be less than 125,000 miles.most cars Earn $20 per day, a large SUV is $25 a day. Avail handles all communication with the driver, so all you have to do is drop the car.

If you’re not sure which service to choose, consider the services available in your city, the extent of insurance offered, the ease of logistics (do you need to exchange keys, communicate with the renter, etc.? ) should be considered. ), the amount of user support provided in case of driver issues, and the amount of revenue earned per rental.

Calculate how much you can earn

What you do with renting a car obviously depends on a lot of things. For one, if you have monthly car payments, your profit will be lower. If you own the car outright, it’s all cash. It also depends on how often you book the car, how much you pay for the service, and other costs associated with the vehicle. ( Annual cost of owning and operating a car Very different. )

Turo is calculator tool This shows the average annual return for different vehicles in different cities with different values ​​and loan payments. This tool assumes the vehicle has been rented for at least 7 days. 3 or more days per month Moon.Earnings for cars with a suggested retail price in Atlanta between $10,000 and $30,000 obtain For example, from just over $6,000 to over $13,000.

Consider all risks

Obviously, leaving your car with a stranger is not without risks. If you care about how you drive your car or how your passengers treat the interior, car sharing probably isn’t for you. We cannot control whether or not it will occur and to what extent.

Your vehicle will increase mileage and wear, although it is generally a good idea to drive your vehicle rather than idling. Plus, if you’re in a pinch and need a car, it may not be available.