Are you looking for the best places to rent your car? Here is the complete collection of the best places that will help you to rent your car and make extra money.
If you’ve got a car that you barely use, then you need to consider renting out your car in order to make some extra money. It is similar to renting out your room. All you need to do is give your car on rent for a few hours and earn some money.
Nowadays, there are a few platforms available that will help you with renting out your car to reliable people in order to make extra money. There are lots of people available that will pay you a nice amount of money for using your car for a few hours.
By renting out your car, you’ll be able to have some benefits such as:
- Renting out your car can help you offset the expense.
- It can help you make some money that you can use for savings.
- It can help you to buy small stuff that you need in your home.
- It can help you to pay your tiny bills.
There are several options available for renting out your car. Because of that, you need to pick the best platforms that are genuine and provide security for your car.
So, let’s see which are the best places to rent your car.
The Best Places to Rent Your Car Online
Here are some places to rent your car online. You need to choose one platform that works for you.
Turo is one of the best places to rent your car in order to earn an average of $706 per month. It’s the world’s largest car-sharing marketplace that will allow you to list your car for rent. It is available in the USA, Canada, and the UK.
The listing process is super simple and takes about 10 minutes. The most important thing is no signup charges and monthly fees. To list your car, you need to signup with this platform and describe your car & upload some photos of your car.
Also, you’ll be able to lay your own ground rules and customize when your car is available. Moreover, you can set your own daily price or let Turo automatically adjust your price to maximize your earnings.
When a guest books your car, you’ll have to confirm where and how to hand over the keys. You’ll get paid via direct deposit within three days after each trip. You can earn between 60% to 85% of the trip price. Your earnings will depend on the vehicle protection plan that you choose.
Moreover, with each protection plan, you’ve covered with up to $750,000 in liability insurance coverage from Liberty Mutual secured through Turo Insurance Agency as well as physical damage protection.
GetAround is an online car-sharing service that allows drivers to rent cars. According to their platform, the average owner makes $1,000s per year. Moreover, all the trips will be covered with insurance and 24/7 customer support.
To get started, you need to create an account by completing a form. After that, the company will reach out to you in order to get your GetAround connect device installed. It will help you to lock and unlock your car straight from the app. After setting up everything, you’ll be able to rent your car.
GetAround will pay you on a monthly basis and GetAround will take 40% of your rental earnings. Also, you can refer your friends to rent their cars so that you can earn $200 instantly.
HyreCar comes up with an innovative idea that helps Uber or Lyft drivers to rent a car. When you use this platform to rent your car, your car will be used by Uber or Lyft drivers. According to HyreCar, the average car owners make $14,000 per year by renting out their cars through HyreCar.
To list your car, you need to signup as a car owner. It’ll take a few minutes to list your car. All you need to do is describe your car, upload some photos of your car, vehicle registration, and Uber/Lyft inspection documents. That’s it, you’ve listed your car for rent without fees and commitments.
When anyone requests to rent your car, you’ll be notified. You need to confirm the application as soon as possible because applications expire after 24 hours. As drivers books multiple vehicles at a time to increase their chances to get a car, you need to approve the application first to earn money. Before handing over the keys, you need to verify all the documents of your vehicle.
You have to coordinate where and when you’ll be meeting the driver to hand over the keys. Insurance is generated 24 hours before pick-up unless an early pick-up request is submitted. Also, you need to verify the driver’s driving license, walk around the car, and check the fuel and mileage. HyreCar covers you under their industry-leading rideshare insurance.
When the rental is over, coordinate a pick-up time and location. Make sure everything is in the right order before completing the handover. So, use this platform to rent your car and make some money that can cover your car expenses.
Do you want to make some extra money by parking your car at the airport while traveling? TravelCar will help you to make some money while you are on travel and your car at the airport parking. You’ll be able to park your car at the airport, train station, seaport, and city center for free.
TravelCar will rent out your car to other travelers to use while you’re on travel. In return, you’ll get free parking and you’ll earn up to $100 for every mile driven in your car. Also, your car will receive a free car wash. You don’t have to think about your car security. You’ll get $1 million in liability insurance and coverage against physical damage and stealing. The best thing about this platform is that even if your car doesn’t rent by anyone, still you’ll get free parking for up to 7 days.
Therefore, use this platform to park your car for free and make some extra money. Moreover, if you don’t want to rent your car, you can use this platform to pay the lowest airport parking rates.
Avail is another company that will allow you to park your car at their parking lot and make money while traveling. When you park your car at the Avail parking lot, your car can be rented by other travelers that need your car.
However, your car needs to be matched with their requirements such as:
- Cars must be 2010 or newer
- Have under 125k miles
- Be free of interior or exterior damage and maintenance issues
Your earnings will depend on the class of your vehicle or car such as:
- Standard, Mid-Size, and Van owners will earn $20 per day.
- Large SUV owners will earn $25 per day.
Also, you don’t have to worry about your car security. Your car will be covered up to $1 million in Insurance from Allstate, along with roadside assistance and 24/7 customer support.
You’ll be paid via the Avail app at the end of each trip. After that, you can transfer your earnings to your bank account. Another best thing about this platform is that even if your car is not borrowed, still you’ll receive free parking and a car wash.
More Ways to Make Money With Your Car
Here are a couple of ways to make money by using your car. Hopefully, by using these two ways, you’ll be able to make some money with your car.
Uber is one of the best places that you can use in order to make money by using your car. You can become a driver for Uber. It is available in major countries.
Here are the requirements to become a driver for Uber:
- Meet the minimum age to drive in your city
- Have at least one year of driving experience
- Clear a background check
- Driving license
- National identity card (NIC)
- Vehicle registration
- Vehicle tax token
- Vehicle insurance
- Vehicle certificate of fitness
To signup, you need to do a few things such as submit documents & photos, provide information for a background check, and find out if your car is eligible, or get a car. After that, you can sign your agreement online and add a vehicle to your account. Next, you need to activate your account by bringing your car to a local activation center.
You’ll be able to choose when and how often you drive. Moreover, you’ll be able to choose how and when you want to cash out. So, use this platform to become a driver for Uber and make money while doing so.
Lyft is another platform that will help you to become a driver for them and make money using your car. Here are a few requirements to become a driver for Lyft (Requirements vary across cities):
- Meet the age requirement for your region
- Have a smartphone
- Pass an online DMV and background check
To get started, you need to apply to drive. After that, you have to download and install the Lyft app (Available on Apple Store & Google Play). Next, accept rides and start earning. You’ll be able to cash out instantly with Express Pay.
How much can you make by renting your car?
It totally depends on a few things such as where you live and the demand for your vehicle or car. Also, which platform you are using. For example, if you use Turo, then you will earn between 60%-85% of the total trip price. That means if you list your car for $30 per day, then you’ll earn between $19.5 and $25.5.
Are there any risks by renting out your car?
Of course, there are huge risks to renting out your car. However, if you choose the best places to rent your car, then there are no risks. Rental companies are aware of your hesitation. For that reason, companies provide insurance coverage up to $1 million and give you physical damage protection. That means if anything happens with your car, the rental company will pay the price.
Note: If you have any questions regarding renting out your car, then ask me in the comment section.
There are several ways available to make money by using your car. All you need to do is choose the best platform to make some extra money.
If you’re not interested in renting out your car, then you can use other ways to make money online. Nowadays, there are several ways to make extra money instead of renting out your car.