Peer to peer car sharing is a great way to get the most out of a vehicle that sits in the driveway for much of the time you own it. While you have to pay for insurance and car maintenance every single day that you own the vehicle, it often sits in the parking lot at work or at home unless you’re commuting. That’s a lot of idle time that can be put to good use. There are benefits for both car renters and owners when it comes to car sharing.
How Does it Work?
Car sharing is when an owner places the availability of their vehicle for rental on a site like myrentandshare.com and renters can pay to use the car for as little as one hour. The owner of the car is paid for the car share, and the renter has a vehicle for running errands when a cab or riding the bus isn’t an option. With the use of GPS tracking, many car owners are experiencing peace of mind when they are renting out their vehicle. Previously, a car owner might be wary of renting out their vehicle to a stranger, but with GPS, the owner will always be able to track their car.
Monetary Benefits to Car Share
The monthly insurance costs, maintenance of the vehicle and repairs when it breaks down make owning a car a liability for some people. They might not be able to afford the parking fees if they live in a populated city too. Renting a vehicle from a rental agency can cost hundreds in fees, and they don’t offer hourly rentals like a car share does. Depending on the type of vehicle and the car owner’s desired fees, renting a car for an hour can cost an average of $10 per hour. For renters who need a car infrequently, that’s a huge savings over owning a vehicle.
When an owner’s car sits for hours at a time in their work parking lot, in front of their home in the evening, that’s time that the car could be making the owner some extra cash. The owner could be making an extra $10 per hour instead of letting the car sit idle at work. It’s like having a raise of $10 per hour in the owner’s work paycheck. It can cover the costs of insurance or maintenance.
Availability of Local Vehicles
A person who needs to rent a vehicle can often find one in their area. In some parts of the country, people might bike to work in great weather. For 10 or 11 months out of the year, they can bike where they need to go, but there might be times the weather is too harsh for bike riding. With car sharing, the renter can find a car within their immediate area instead of having to ride to a rental agency.
Peer to peer car sharing is a safer possibility now because of the advances in things like GPS tracking for the vehicles.