How to rent your car to others for over $9,000/year

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Rent out your car on HyreCar: the complete guide

Want to make a cool $9,000 this year? HyreCar will rent your car to rideshare and delivery drivers who are in need of a vehicle or don’t have a qualifying vehicle.

If you’ve ever asked yourself, “How do I rent out my car in order to earn extra income?” HyreCar has the answer. We’re leaders in the carsharing space and will help you rent your car online to local rideshare and delivery drivers.

Advantages of renting out your car

Similar to listing your space on Airbnb, you can make tons of cash renting out your spare car. Let’s say you have an extra car that you don’t drive very much. Right now, it’s sitting in your garage, in your driveway, or parked out on the street. Instead of letting it accumulate dust, why not put it to use so you accumulate some cash and make a potential gig worker’s life a whole lot easier? Here are two reasons why renting out a personally owned vehicle is a win-win for owners and potential drivers:

1. Earning cash while sitting back and letting your car do the work.

• You can make over $720 a month by renting out your personal vehicle to a gig worker. Sweet, huh? In fact, average car owners who list their vehicle for rent through HyreCar can earn up to $9,000 a year.
• The number of rideshare and delivery drivers is growing every day as more and more independent contractors join the on-demand economy. The more gig workers there are, the more demand there is for quality cars like yours.

Actual earnings from car owner’s dashboard:

• You’ll get paid fast! HyreCar features a secure payment system, so you’re always paid on time. You start earning as soon as you approve a renter’s application, and your money gets transferred to your bank account as soon as the approved renter picks up your car. Cha-Ching!
• Insurance: HyreCar offers you comprehensive, industry-leading insurance when you list your car with us for rental. Your vehicle is also protected by the gig service insurance coverage while the renter of your car is driving for either Uber, Lyft, DoorDash or any other gig service.
  • For more info on rideshare insurance check out our best rideshare insurance options for Uber and Lyft drivers blog article.
  • We give you the option to choose from a range of protection plans, each with a different level of coverage from HyreCar in the unlikely event your car is damaged, stolen, or vandalized during a rental. The choice is yours – opt in for a premium protection offering or take home more cash with the basic plan.
    • We’ve also partnered with Sedgwick to allow our vehicle partners to enjoy an expedited claims process.

Low risk

• Extensive background checks: All of HyreCar’s renters go through an extensive screening process and a background check before they can rent a vehicle. This assures you that only conscientious drivers will get behind the wheel of your car.
• Incentives to drive safely: When someone rents your car from HyreCar, they’re renting it to use as a rideshare or delivery driver. So it’s in their best interest to keep your car clean, neat, and in the best condition possible. Reckless driving can lead to an accident, which will keep your car and its driver off the road.
• Longer rental periods: Renters can easily extend the length of their rental period through the HyreCar Driver App. This means they keep your car longer, which in turn, continues to “drive up” your profits!

Note* If you haven’t seen it yet, check out our animated video describing our service:

Process: how to rent your car out

(Hint: It’s easy, but first you need to list your car first.)

We’re also really proud of how simple we’ve made the “make money renting your car” process. We’re sure you’ll agree: it’s free, quick and easy.

Listing your vehicle

• Once you’ve signed up as an owner, upload your vehicle documents that HyreCar requires (e.g. registration, insurance, driver’s license, and 19-point inspection)
• Take several sharp, clear interior and exterior pictures of your vehicle
• Really describe why your car would make a great vehicle for car sharing. It’s also good to list the different types of services for which your car qualifies.

Once you’ve listed your vehicle on the HyreCar platform, you should consider using Neighbor to rent out the (now) empty space in your garage or driveway.

You can earn an additional $100-300 every month renting out your empty space! It’s a real no brainer for any car owner on the platform looking for extra passive income.

Get paid for your extra space today:

Car listing tips:

• While they aren’t mandatory in some states, the inspections for Uber/Lyft and a basic 19-point inspection look extremely good to drivers, as they won’t have to get them done themselves individually. Owners who get these inspections done get their vehicles rented 87% more often than those that don’t!
  • If you need assistance getting the 19 point inspection done, check out Rideshare Mechanic. This service conducts a video vehicle inspection, which eliminates the inconvenient process of going to a Jiffy Lube or local mechanic. No more getting stuck in traffic, wasting money on gas, or dealing with a mechanic who wants to upsell you on other parts. Their cost is comparable to your local mechanic, and you don’t pay unless your car passes the inspection.

Get your vehicles inspected quickly and efficiently:

• We recommend getting your Uber/Lyft and basic 19 point inspections done before you list your car. That way, drivers can rent your car immediately instead of waiting for the inspections to be done.
• Decide on a pickup location and a daily rental price. We recommend looking at other listings in your area for your kind of car, just to see what the going rates are. Rental prices average about $30-45 per day.
• HyreCar lists cars in all 50 states, so you qualify no matter what state you live in.
• Once your car listing has been verified by our team, visit your owner dashboard and click “My cars”. Boom. Your car is now listed and ready to be rented!

Making Money: Actually Renting Your Vehicle Out

We’ve got some tips to help you find drivers who might want to rent your car and to let potential drivers know that your car is now available to them. So what are you waiting for? Let’s show you how to earn money with your car!

Finding drivers

• HyreCar has created a matchmaking algorithm that sends automated messages with your vehicles to the best drivers in your area. You can have more marketplace visibility as a HyreCar For Business customer. Learn more HERE.

Finalizing the transaction

Once a driver has applied to rent your car, the approval, and soon, the money making process begins. Here’s what to do after you approve a driver’s request:

The pickup

• Set up the time/place: Once a booking is confirmed, contact the driver to set up a mutually convenient pickup time and location. Some owners actually deliver their car to the renter, but that’s totally optional.
• Safety first: If you don’t feel comfortable having a renter come to your house to pick up the car, arrange a meeting at a public place, like a busy supermarket parking lot.
• Inspection: When the driver gets there, both of you can inspect the vehicle for damages, to make sure the imperfections you listed online match what’s actually on the car.
• Confirmation: Both you and the driver will confirm the pickup on the HyreCar marketplace. It’s important that you emphasize to the driver that they have to do this ASAP. Try to get this done before you hand over the keys.
• Insurance will begin: Insurance begins once the pickup is confirmed by both parties.

The drop-off/returning the car

• The driver is notified: The renter of your car will be automatically notified 24 hours before your vehicle is due to be returned to you. If the driver wants to extend the rental, and you’re OK with it, he/she can do that through the HyreCar Driver App. That’s more money in your pocket!
• Take pictures: This will help you in the event of filing a claim.
• Time of drop off: Agree on a mutually convenient drop off time and place. Again, use your discretion as to where you want to meet.
• Confirm drop off: Just like with the pickup, both driver and the owner will need to confirm the drop off via the Driver App or owner dashboard

Final thoughts

The driver demand for rideshare and delivery gigs is incredible. If you own a good quality vehicle that you don’t use, why not rent it out and make some extra cash? Pay off some bills, go out for some nice meals, take the vacation you’ve been putting off, it’s totally up to you! You’ll also help a rideshare or delivery driver who needs a vehicle to start working and earning money as well. HyreCar is here to answer any questions you might have and to help you start the process of renting out your car. We’re willing to help you earn some passive income, are you ready to take it?

For any additional information, including our FAQ, please visit us at https://hyrecar.com/ or find us on Twitter @HyreCar.

Happy renting!

– Team HyreCar

Disclaimer
Actual earnings may differ and depend on factors like number of deliveries completed, time of day, location, and expenses. Hourly pay is calculated using average Dasher payouts while on a delivery (from the time you accept an order until the time you drop it off) over a 90 day period and includes compensation from peak pay, tips, and other incentives.