The baby boomers gained their sense of independence by driving to the cinema, to the mall, and speeding up on highways. However, according to FastCompany, millennials are rather skeptical about the benefits of owning a car, as they contribute to traffic congestion and environmental harm. In fact, with app jobs such as GetAround, or Snappcar more and more people choose peer-to-peer sharing platforms over car ownership.
At the same time, the demand for drivers is as big as ever, with apps such as Uber and Lyft gaining massive popularity. The fact that many gig-drivers don’t actually own cars brings car renting to the fore – it is now cheaper for drivers to rent cars, whether they want to make extra money with Uber or simply go on holiday. Thus, if you own a car, renting it out when you don’t use it will bring substantial money to your pocket. In short, if peer-to-peer sharing wasn’t economically viable in the past, the landscape has surely changed.
So, what should you do if you want to *make money by renting out your car? Well, it depends on where you live. Pick a region:
1. United States and the rise of Getaround
“We believe in a world where every car is a shared car”, the CEO of Getaround told Forbes. But what does GetAround actually do? Simply put, the platform helps car owners in the US rent out their cars when they’re not using them, at a cheaper price then at a rental car counter, thus offering a bit of help to their community.
It is good to know that listing a car with Getaround isn’t totally free: most cars should have installed a special device, called the Getaround Connect. It allows people unlock the car without the key, but with the app. However, the installation runs $99 and then car owners have to pay $20 a month to cover the costs of the monitor. If you prefer the traditional hand-in-hand key transfer, you can always opt for Turo in the case you own a car, or Riders Share if you want to share your motorcycle with the biking community in your city!
2. United Kingdom: Kerb, Hiyacar
In UK there are many options to rent your car, but also parking spot! Indeed,parking is one of the most dysfunctional parts of UK’s infrastructure, and a huge contributor to CO2 emissions in city centres worldwide. According to Anthony Eskinazi, founder and CEO of JustPark, cars that circle for a space can be responsible for up to 30% of congestion, and generate a staggering 5,000 extra miles travelled per parking space per year.
If you live in the UK, JustPark and Kerb are the most popular two options if you own a parking spot and want to make it available to your neighbours whenever you’re driving. You can also choose to carpool with Hiyacar and offer the empty seats in your car to other travellers going the same direction. As trains are quite expensive in the UK, many travellers choose to hop in someone else’s car, split the costs of gas, and turn a long, boring journey intro a quick, friendly trip!
3. Europe and beyond: GoCarShare, Drivy, Snappcar, Share Your Ride
Driving from France to Germany? Or maybe from Prague to Bucharest? There are car sharing communities that bring together all of Europe! GoCarShare is a popular app around Europe. You simply list the place you’re headed to, and travellers going the same way will book your seats. Similarly, in Sweden, SnappCar will allow you to drive customers both out and inside the city. Find other people going to work from your neighbourhood, share the car and split the costs!
And if you just want to rent out your car for a couple of hours or days, then Drivy is your call anywhere in Europe! Or, let’s say you live a bit further away in Australia? No worries, you can make money with Share Your Ride and many other apps.
Rent your car and your parking spot now, choose to carpool and earn money while building a greener a world. Check all the companies in your city and start sharing and earning now!