Peer-to-Peer Car Rental: How It Work Works & What to Expect
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Are you tired of dealing with those "other" rental car companies?
Do you constantly need to argue with customer service to avoid outrageous fees or get a fair deal on your vehicle?
Do you feel as if you're treated as an outsider when renting from a traditional car rental company?
Do you want an easier way to get a fantastic deal on getting the best car you desire?
If any of this sounds like you, it may be time to start looking into peer-to-peer car rental options. Rather than going through the traditional car rental companies, you can connect with a local owner and rent their vehicle.
Sounds great, right? Keep reading to learn more about why you need to start looking into peer-to-peer car rental as soon as possible.
The gig economy is growing by leaps and bounds and has now expanded to giving car owners the ability to rent out their cars. The best way to explain p2p car sharing is to compare it to a similar service.
For example, Vrbo. On this app, property owners can rent out their homes as vacation rentals.
You set the rate, decide on rules, and communicate with your guests. A peer-to-peer car rental company allows you to rent cars from private owners instead of a house.
There are various car rental platforms that offer this service. For example, Turo.
When you rent out a car through one of these services, they provide the platform and the ability to purchase insurance. However, car owners are still required to hold private insurance.
Some companies even offer roadside assistance. Think of the platform being used as an intermediary.
They connect people with cars with people who want to rent cars. However, they don't provide vehicles, do maintenance, or pay for gas.
While there are a variety of p2p car rental apps, all of them work similarly. There might be some small differences based on the company you use, so it's important to find one that works well for you.
If you're a car owner, you will need to provide basic information when listing your car on a p2p car rental platform. Some of the information you will be required to provide includes:
It is up to you to approve potential renters.
If you're looking to rent a car from a person, you will browse the app to find the car you're interested in. You will then let the owner know how long you would like to rent it for and put in your request to book.
If the owner approves your request, your credit card will get charged. You will meet the owner to pick up the car at the arranged time. Once you're done, you return the car.
If you're renting a vehicle and damage it, you could be required to pay for damages to the vehicle. The owner of the car will work with the platform to determine if you're responsible for damages caused.
Why should you choose a peer-to-peer car rental versus a traditional car rental company? There are several benefits to going in this direction for your rental.
Traditional car rental companies have to worry about multiple expenses, including maintaining a fleet of vehicles. Because p2p car rental platforms do not have the same overhead costs, they can provide more affordable car rentals.
There are many factors that play into the exact cost of your rental, including the type of car you rent. However, on average, in 2021 traditional car rentals cost 81 dollars per day.
Platforms like Turo offer a range of options for vehicles, and while you might pay more for some vehicles, you can also find rentals as low as 25 dollars a day.
Have you ever gone to a traditional car rental company expecting one cost only to be hit with "hidden fees?" If you drive more than x number of miles, you get additional fees.
If you don't return the car with the same amount of gas, you get additional fees. If you're under the age of 25, you get additional fees.
With p2p car rentals, the pricing is transparent. If you're under the age of 25, some platforms will charge extra; however, some don't. However, the most important thing to note is that you will know what you're paying, and you don't have to worry about being hit with hidden fees.
When you're flying into town you don't necessarily want to worry about catching an Uber or Lyft. The good thing is you don't have to.
There are p2p car rental companies that offer airport access. These companies try to work with car owners who travel out of town frequently. The owner drops their car off at the airport, and this allows you to pick the car up there and use it while you travel.
Do you need a van? Or maybe you want to rent a truck for a day to haul some of your belongings? The good news is that p2p platforms often have a range of vehicles you can choose from.
If you feel like splurging and test driving the car of your dreams, you might be able to find it on a p2p car rental platform. However, if you just want a simple economy car that will get you from point A to point B, you'll find that as well.
There are a couple of drawbacks to peer-to-peer car rentals. These drawbacks apply to both the renter and the owner.
If you are determined to find a particular make and model, it might be more difficult. While you do get to select the vehicle, you drive, you are limited to what owners are offering their cars.
For vehicle owners, there is increased wear and tear and maintenance. As the owner, you're responsible for keeping your car clean and well-maintained. If your car is getting driven more, this means more oil changes and other maintenance services.
You do get paid, so you can budget maintenance from that. However, you also have to consider the fact that it will require extra time and energy to keep your car performing well.
As an owner, you need to consider insurance coverage when using a peer-to-peer car rental service. Some of the platforms offer some liability coverage; however, you still need to have your own state minimum insurance.
Some insurance policies are now being written to exclude coverage for peer-to-peer rentals and the use of the car for commercial purposes. It's important that you check with your insurance to see if they'll still cover your car if you rent it out. You might be required to upgrade to a commercial car insurance plan.
For people renting cars, you want to check and see if your insurance covers you when driving a peer-to-peer rental. All parties want to be sure they're covered in the event of an accident.
Are you considering a peer-to-peer car rental? You need to know how to find the best services. There are a few factors to keep in mind.
These include:
We have a few p2p car rental platforms you should look into when renting a car.
Turo is a safe app and offers a wide availability of cars. It is one of the best peer-to-peer car rental companies. Your price will generally run from 25 dollars a day and go up to 200 dollars or more per day if you're renting a specialty car. They offer cancellations for free up to 24 hours before your trip.
However, if you book late and your trip is less than 24 hours away, you have an hour to change your mind for free. After those time limits, there is a fee for canceling.
With Turo, you don't have to worry about the cleanliness of the car. They require the car owner to disinfect and clean their car between each trip. In addition, Turo offers a training course for owners from EPA, WHO, CDC, and car detailing experts to ensure vehicles get cleaned correctly.
Turo offers insurance options that aren't confusing, and they have a 24/7 roadside assistance policy.
If you are looking for a peer-to-peer car rental near you, consider booking a car with Getaround. The drawback to this platform is that it's limited in location. Currently, it only operates in around 20 large metro locations in the US.
Rentals start around 50 dollars a day, but Getaround does include a three percent booking fee. If you're under the age of 25, you might have to pay extra.
Getaround requires you to cancel more than 24 hours before your trip starts. If you cancel less than 24 hours before your trip, you will still need to pay a 50 percent fee for your trip rate.
This company also has COVID-19 policies in place for cleaning and disinfecting. Getaround offers insurance for rentals and 24/7 roadside and customer service.
Avail Car Sharing provides many options when it comes to car rentals. One of their more commonly available cars, a Toyota Prius, runs at a rate of about 90 dollars per day.
However, the car sharing program does offer full coverage through Allstate. This is an excellent company for younger drivers or people who want additional drives because they don't have extra fees.
In addition, Avail has a very lenient cancellation policy. If you cancel before your trip starts, you get a full refund.
However, if you cancel after, you only have to pay for the time used. Every car rented through the Avail platform needs to go through a 12-point sanitization checklist before and after each trip.
Avail is a smaller company, but if you're in a location where they operate, you can find downtown and airport locations.
This company was started in 2012 in France. If you're planning on traveling internationally, this could be the solution you need. Instead of paying to park your car at the airport during a trip, why not rent it out?
TravelCar provides the following:
Are you looking to get into the gig economy but don't have a vehicle that lives up to the standards required by companies like Uber or Lyft? This is where HyreCar comes into play.
They are a little different from other peer-to-peer car rental platforms. Instead of renting out cars to travelers, HyreCar rents out cars to people who want to drive for Uber, Lyft, or other delivery services.
Prices for cars through HyreCar do vary, and a background check is performed on renters. You also want to ensure that you're able to work enough to come out ahead.
However, reviews state the total cost can come out to around 50 dollars per day. If you're able to work enough to offset that cost, this could be a good option for you.Are you ready to hit the road?
A peer-to-peer car rental provides many benefits. Consider the options we listed above and rent your car today.
By choosing the right platform, you can get an affordable car rental and feel confident that the car has been cleaned and disinfected. Make sure that as you make your choice about what platform you want to use, you consider insurance.
Are you interested in learning more about the gig economy? Keep reading articles about how you can make extra cash as an Uber driver and more across our website.
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