Earn Income by Renting Your Car to Strangers

In Europe and the United States, many carpooling services are adding a peer-to-peer car rental option. People can now rent out their car to strangers that might need a car to use because they are traveling or they are having car issues. The people that rent out their cars make money from the rental which can help cover the cost of owning and maintaining their own car.

To rent a car on a “peer-to-peer” basis in Europe, it is about $30 a day. In the U.S., it is roughly $60 for ten hours. The type of car you are renting determines the price so luxury cars can command a higher price. You can also charge a long-term fee if the person is renting for several days to a week instead of a daily or hourly rate. People who own two cars especially find this to be a good option because they don’t always need to drive their second car but they do need the money to care for it.

21852109 - car dealer offering car keys to a hand

In Austria, Belgium, Germany, and Spain about 38,000 cars are listed for rent with one million registered users searching for a car to rent. The United Sates has several thousand cars listed as of now. It is believed that this concept will be worth billions by 2024 because it is faster, cheaper, and more convenient for people searching.

This concept has only grown since it was originally started and it is still taking off. Before registering your car as an available rental, make sure your car is meeting all of the standards of a safe, well-maintained car.

Permaplate provides a range of automotive protection programs, ranging from theft protection to paint protection film. Consider taking advantage of these protections for your car if you choose to participate in a peer-to-peer rental option.

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