Renting out your car to traditional rental car companies is no longer the best side hustle for people with idle or unused cars.
After all, most of these companies charge high fees, have poor customer service, and don’t take care of your car.
Fortunately, online car-sharing marketplaces have become popular in recent years, allowing owners to bypass care rental companies, directly communicate with drivers, and earn more.
However, how does car-sharing work, and how do you get started?
If you’re ready to become a car rental owner and earn extra money, this guide provides insights on car sharing and lists the five best platforms you can try.
- Best Car Rental by Owner at a Glance
- An Overview of Car Rental by Owner
- The Best Car Rental by Owner at a Glance
- Features to Look for In a Car Rental by Owner
- Best Car Rental by Owner: Our Top 3 Options [Ranked & Reviewed]
- Notable Mentions: Other Car Rentals by Owner to Check Out
- Other Companies Relevant to Car Rental by Owner
- Frequently Asked Questions
- Wrapping Up
Best Car Rental by Owner at a Glance
For your convenience, here’s a quick summary of the top car rentals by owner.
- Turo: Our Pick
- Getaround: Runner-Up
- HyreCar: Also Great
- Avail: Best Airport Car-Sharing Platform
- Outdoorsy: Best RV Rental
An Overview of Car Rental by Owner
If you want to learn more about this side hustle opportunity, here are a few things about online car rentals.
What is Car Rental by Owner?
Car rentals directly by the owners, also dubbed the Airbnb of car renting, allow them to communicate and negotiate with buyers without needing a rental car company or agent.
As a result, the owners will be the ones to set the arranged time and location and hand off the keys to the renter.
Why Are Car Rentals by Owner Important?
This type of car rental is cheaper for many drivers because it eliminates or significantly reduces the fee from rental car companies, making them more affordable.
It means more profit for car owners since car-sharing platforms offer fewer commissions and more bonuses.
Plus, the sharing economy encourages eco-friendly means to travel or commute.
Do I Need a Car Rental by Owner?
If you’re not using your vehicle, directly renting your car to others makes a profitable passive income.
It’s also an excellent idea if you have an idle or unused vehicle and don’t want it to go to waste.
The Best Car Rental by Owner at a Glance
If you’ve decided to rent a car to others, here are some of our top picks in these specific markets.
What is the Best Car Rental by Owner?
The best car rental by the owner is Turo.
Unlike a traditional rental car company, Turo offers an online car rental marketplace with flexible arrangements, decent profits, delivery options, and ideal car insurance.
What is the Most Profitable Car Rental by Owner?
The most profitable car rental by the owner is Getaround.
Getaround is an online car-sharing platform that allows you to earn over $1,000 monthly, plus possible bonuses.
Features to Look for In a Car Rental by Owner
Before joining a car rental business, consider the following factors to find good car-sharing companies.
1. Car Protection
What policies does a rental car company offer to protect your car from damage, especially in the event of an accident?
Always look at what the company’s insurance covers and other ways the platform can protect your car from theft, accidents, and damages caused by the driver or external factors.
2. Rental Fees
Check if the platform includes commission or additional fees for every booking. Most companies take a cut of your earnings to cover your insurance and other services, like delivery and cleaning, if any.
How much will you earn from renting out personal cars? Most platforms allow you to set rental car prices, but they offer a guide to help you give a fair but profitable price.
Check if a platform’s price guide is competitive with other platforms or against industry rates.
Learn about a platform’s process, and see how much control you have regarding the number, type, and price of cars you can list.
Some platforms have strict requirements, like accepting cars made in specific years and having driven for a certain number of miles.
5. Customer Support
Online rental car companies often offer 24/7 support. If you can, test them out, and see if they’re responsive and helpful with your concern.
Best Car Rental by Owner: Our Top 3 Options [Ranked & Reviewed]
After scouring online car rental platforms, the following car-sharing companies top our list of the best car rentals by owner.
1. Turo — Our Pick
Turo provides a large online rental car marketplace to anyone who wants to rent a private car or rent out their vehicle.
Also, the Turo app is one of the best gig apps for owners who want to monitor their car rentals and communicate with guests seamlessly.
Key Features of Turo
The Turo platform enables you to monitor and communicate with guests. Here are some key features of the app.
- Delivery Options: The platform offers various car delivery options, including home delivery, airport delivery, and custom meetup locations.
- Car Location: Guests can use the user-friendly app to locate a car. Similarly, you can also use it to track its location before and after a trip.
- Unlocking a Car: If you’re away, guests can check in your car and open it via the app. The app will prompt guests to document the car’s exterior and interior to ensure the host’s car’s condition.
- Insurance Protection: You can choose from five plans that provide a $750,000 insurance policy.
- 24/7 Customer Support: Get a support team to assist your guests during emergencies, help with your concerns, and offer coaching to grow your side hustle.
Pros of Turo
Here are the perks of using the Turo app.
- Pre-Screened Customers: Only guests that passed Turo’s pre-screening can rent cars on the app, ensuring your security and your car’s safety.
- Scalable Opportunity: You have control over how many cars you want to share and if you want to reinvest your profits or cash out.
- Flexible Arrangement: Turo doesn’t have quotas and shifts, meaning you can make people rent your car whenever you’d like, whether at home or on the go.
Cons of Turo
Consider the challenges that come with trying Turo.
- Cleaning: The Turo host must be the one to clean and maintain their rides. You must allot time and effort to make your car clean and presentable.
- Safety Concerns: Despite Turo’s pre-screening and other security measures, there’s still concern over theft and accidents.
- Commission Fee: Turo takes a 15% to 40% cut for each booking, depending on your insurance protection plan.
According to Turo, the hosts’ average annual income for one car is $10,516.
Conclusion: Should You Choose Turo?
Turo is a reliable and profitable peer-to-peer car-sharing marketplace with over 14 million car renters.
It’s perfect for people who want to make passive income by renting their car, monitor transactions via an app, and have control and flexibility over their car-sharing side hustle.
2. Getaround — Runner-Up
The platform accepts all car models that pass their requirements.
Key Features of Getaround
The following features provide a seamless way to rent out your car.
- Getaround Connect: Getaround installs this software in your car, allowing guests to unlock it via phone and provide insights regarding the car’s information, trips, and security.
- Predictive Pricing: A pricing algorithm adjusts your car rate based on demand and factors like the day of the week, trip duration, car location, and more.
- Premium Parking: Enjoy a dedicated parking spot for your car, enabling guests to access and rent cars easier.
- Insurance Protection: Receive a total limit of $1 million for liability. It applies to each booking and covers liability, collision, and comprehensive damages.
- Dedicated Account Managers: Have 24/7 assistance from a dedicated staff, and get personalized support once your fleet grows.
Pros of Getaround
Check out the top three perks of using Getaround.
- Various Bonuses: Hosts enjoy extra income through an onboarding bonus, referral bonus, and a $500 bonus for hosting electric vehicles.
- Hefty Insurance Protection: The allotted insurance per car is quite significant, giving hosts peace of mind as they rent out their cars.
- Host Resources: The platform offers various resources to prepare you for your peer car-sharing journey.
Cons of Getaround
Consider the following cons before joining the platform.
- Various Fees: Getaround charges several fees to hosts, such as a one-time Getaround Connect setup fee, a monthly Connect subscription, tax, and a host cancellation fee.
- Strict Requirements: Cars must meet specific specs to be eligible for car rental, including being at least a 2007 model, having less than 200,000 miles, and being in good physical and mechanical condition.
- One Payment Method: The platform only pays via PayPal. This may be convenient and secure for some, but others might prefer a different payment method.
Getaround states that a new car model can earn $1,000 or more monthly. You can earn up to $1,200 for listing a new car and a $200 bonus for a successful referral.
Conclusion: Should You Choose Getaround?
Getaround is an excellent peer-to-peer car rental platform for any car owner with a full-time job who wants to supplement their income with this passive side hustle.
Consider this platform if you prefer comprehensive insurance and various ways to earn bonuses.
3. HyreCar — Also Great
HyreCar is one of the rental car companies that allow you to rent out your car for a delivery service like DoorDash or a ride-hailing platform like Uber.
They also help businesses with fleets scale their operations across 50 states, especially Atlanta, Chicago, Houston, Dallas, and more.
Key Features of HyreCar
Explore the five main features of using HyreCar as a host.
- Customized Marketing: A car owner with a fleet business receives supplemental marketing to target HyreCar drivers in the marketplace.
- GPS Tracking: HyreCar requires all vehicles to have a GPS tracker installed to monitor their movement, especially during accidents.
- Dedicated Claims Specialist: HyreCar business partners work with an assigned claim adjuster to speed up the process and act as a contact person.
- Upgraded Dashboard: Partners get an upgraded fleet management dashboard to add multiple locations and control employee permission levels.
- Flexible Insurance Protection: Each HyreCar insurance plan has liability coverage of $1 million and up to $50,000 in physical damage protection.
Pros of HyreCar
See the benefits of trying HyreCar.
- Long-term Car Rentals: Hosts experience long-term success on the platform compared to other car-sharing companies.
- Vetted Drivers: The platform conducts thorough background checks on the drivers to ensure they can drive your car.
- Scalable Business: HyreCar offers a program to help you scale your fleet and maximize your earnings.
Cons of HyreCar
Consider the following downsides before joining HyreCar.
- Strict Requirements: Besides meeting the vehicle requirements for HyreCar, you must also comply with Uber or other ride-hailing platforms’ specifications.
- Owner Fees: HyreCar gets a 15% to 25% commission on a car’s listed price, depending on the owner’s chosen protection plan.
- Hassle Car Pickup or Delivery: HyreCar doesn’t have designated parking for cars, meaning you must coordinate with the driver where to find your car or if you must deliver it to them.
According to HyreCar, car owners make over $720 monthly or up to $9,000 annually.
Conclusion: Should You Choose HyreCar?
Consider signing up for HyreCar if you’re a car owner who doesn’t mind renting out their car to drivers doing gigs for Uber, Lyft, or DoorDash.
The high volume of delivery and ride-hailing drivers means more opportunities to earn income using your car.
Notable Mentions: Other Car Rentals by Owner to Check Out
Explore more rent-a-car platforms with the following runners-up.
4. Avail — Best Airport Car-Sharing Platform
Avail, previously called Drift, is one of the peer-to-peer car-sharing platforms enabling anyone to rent out their cars.
Unlike others, the company only caters to specific airports and apartment complexes in Texas, Illinois, Washington, Utah, Colorado, and Arizona.
Some of the airport locations you can find Avail include Denver International (DEN), Dallas Love Field (DAL), and Salt Lake City Internation (SLC), among many others.
Why is Avail a Great Option?
Avail takes care of fleet management, from car wash to payments. They also handle pickups and drop-offs of the renters, allowing you to make passive income without managing bookings.
Regarding the Avail car rental business insurance, a car’s owner receives up to $1 million of comprehensive coverage with no deductibles.
Lastly, Avail offers free parking for shared cars, allowing you to get a good spot for free and earn money passively while you’re away.
Drawbacks to Avail
According to reviews, some car sharers experienced car damage and car theft.
Other hosts and drivers also find it difficult to communicate with the support team, as email is the only communication channel available.
Some hosts say that they unknowingly get charged for the toll fees.
Avail states that you can earn an average of $20 per day for a standard sedan, mid-sized vehicle, or van. Meanwhile, large vehicles can generate around $25 per day.
5. Outdoorsy — Best RV Rental
Outdoorsy provides a free, professional platform for peer-to-peer car rental, specifically for vans and RVs.
You can start a transportation business with one van or RV, attracting campers and vacationers. Their popular rental destinations include Los Angeles, Seattle, Austin, New York, and Honolulu.
Why is Outdoorsy a Great Option?
Outdoorsy offers vehicle owners various perks, such as having control over their prices and rental schedule. The platform also provides insurance coverage of up to $1 million and free roadside assistance.
The company also conducts comprehensive verification to ensure your vehicle is in safe hands.
Regarding payment, Outdoorsy pays within 24 to 48 hours after the vehicle departs.
Drawbacks to Outdoorsy
Outdoorsy mostly caters to recreational rental vehicles like camper vans, motor homes, or camping buses. As a result, it’s not a side hustle opportunity for everyone.
Also, if you have an RV to rent out, remember you need to take out your belongings and make them hospitable to your guests, which could take time, money, and effort.
Outdoorsy claims you can earn over $50,000 yearly on the platform.
Meanwhile, their 2022 RV Travel Trends Report reveals that the average RV rental rate per night was $153 in 2021, and the prices remain the same as of writing.
Other Companies Relevant to Car Rental by Owner
If you liked this article, consider learning more about other side income opportunities. Here are a few suggestions.
- Best Gig Apps: Discover the nine best apps that offer great gigs, from ride-hailing apps to online teaching apps.
- Passive Income Apps: Save time and energy as you make money effortlessly on the side.
- Best Survey Apps: Turn your opinions into extra bucks by answering various surveys from the best apps.
Frequently Asked Questions
Have more questions in mind? See the answers to the most common questions about renting cars online.
Is There an App Like Airbnb but for Cars?
Yes, Turo and Getaround have similar concepts to Airbnb, where an owner turns their private vehicle into a rental car.
How Much Do Car Rental Hosts Make?
Car rental companies often allow you to set your price, but a host can make around $200 to $2,000 monthly. Factors affecting your earnings include your car model, condition, and location.
Turning your vehicle into a rental car offers an excellent way to make extra money at home or away.
Consider listing your car at Turo if you want a secure and profitable platform. It’s a well-rounded company offering decent rates and insurance, car delivery options, and flexible arrangements.
Meanwhile, check out Getaround if you prefer premium parking, more bonuses, and considerable insurance protection.
Regardless of your chosen platform, grab this gig economy opportunity today and earn extra income tomorrow.