Car sharing: how to make money

The 21st century has seen advancements in almost every area – a statement that’s never truer than in the sharing economy. Particularly in the car sharing sector.

The ability to rent a car and its overall concept has been around since the dawn of the car. However, car sharing is something very different to your traditional rental platform; it being the ability to pay for the use of a car that is owned by a private individual, while they’re not using it. The benefits of which, for those paying to use the car, are quite clear. The biggest benefit being that paying to use someone else’s car eliminates any ownership costs such as tax, MOTs and servicing etc. Not to mention the initial outlay to purchase it. Essentially saving them money.

But what about those that DO need to own a car? Say they require it often enough that it works out more cost effective to own one than to ‘share’ one when it’s required. Or, consider those that own more than one car. You can only use one car at a time and, whether you have one car or three, there are always times in which the car isn’t in use and it’s sat on the drive or on the roadside costing you money.

This is where the opportunity to make some money comes in.

Peer-to-peer platforms like hiyacar allow private owners to rent out their cars to other people while they’re not using it. Cars can even be rented from as little time as one hour! Making it super convenient if your car happens to be sitting unused. Whether you’ve owned your car for years or you’ve just bought your first car, you’ll probably agree that car ownership can be very expensive. Instead of leaving your car sitting around doing nothing, you could be earning up to £800 a month by partnering with a peer-to-peer platform to turn your car into an asset that pays for itself. It can even be parked right back where you left it, equalling a seamless and hassle-free rental experience.

How do you get involved?

It couldn’t be easier to list your car for hire and start making some extra £££s. Take peer-to-peer platform hiyacar as an example. It’s been designed with both the people who are renting the cars, as well as the people who are renting their cars out, in mind, equalling a convenient and hassle-free ethos. All you have to do is go to the website and list your car. If you’d like your car to be keyless, so you don’t have to be there for every key handover, hiyacar can come out to you to collect the spare key fob in order to create your own unique QuickStart box, which they’ll then install for free within two weeks to enable your car to start making you money. This technology means you’ll never have the hassle of waiting around for someone to collect the keys and offers added security from its built-in GPS software. You even have the added security that drivers registered with hiyacar are vetted and DVLA-verified so you don’t need to worry whose hands your car is in. The free-to -download hiyacar app (for iPhone iOS and Android) allows you to keep track of who’s driving your car and how much you’ve earned.