This is how to make over $700 every month from renting out your car.
►Get $5 on Acorns Investing App when you use my invite a Free Stock on Robinhood when you use my invite Get a Free Stock on WeBull when you make a deposit of ANY amount(Valued up to $1400): you own a car and you don’t rent it out you are missing out on a huge source of income! The three major companies in the US car sharing market: Turo, Getaround, HyreCar that make it easier than ever to access a vehicle when and where you need it with peer-to-peer car rental services. Each service has its own set of benefits and drawbacks.
Turo is the largest of the three companies. It is available in almost all U.S. cities as well as Canada, the United Kingdom, and Germany. The average Turo car owner earns $706 per month by simply sharing their car whenever they are not using it. With Turo you’re covered with up to $1 million in liability insurance coverage from Liberty Mutual secured through Turo Insurance Agency. Also, you can pick from a range of physical damage protection plans, each with a different level of contractual reimbursement from Turo in the unlikely event your car is damaged, stolen, or vandalized during a trip. In order to rent out your car on Turo, you must be 21 or older to list a vehicle in the US, Canada, and Germany and 25 or older to list a vehicle in the UK.
Next up is Getaround. Getaround is a convenient option for people who need to locate and rent a vehicle for either hourly or daily car rentals available. Currently, Getaround is only available in select cities including Boston, Chicago, Los Angeles, Miami, Philadelphia, Portland, San Francisco, and Washington D.C. The way it works is you submit your info to get approved. Then Getaround will install your Connect® device which enables renters to access your vehicle. When you set your car’s availability and publish the description page, your car is ready to go. Simple! The great thing about Getaround is that it allows renters to access the vehicles they are renting using the Getaround app. Most other services require renters to meet the car owner and pick up the keys, which can be inconvenient if both parties can’t find an agreeable time and place. With Getaround, getting access to the vehicle is quick and simple with no need to coordinate schedules.
And last up is HyreCar. HyreCar is a peer-to-peer vehicle rental service designed specifically for Uber, Lyft, and other on-demand delivery drivers. There are no contracts, sign-up fees, or waiting, and HyreCar is an excellent option for ride share drivers that don’t want to use their personal vehicle or those who don’t have a vehicle but want to make some extra cash as a driver for Uber or Lyft. The average car owner on HyreCar makes $12,000 per year. The way it works is you list your car for a daily price similar to Airbnb and people can reserve it for a day. The company builds wear-and-tear costs into the rental price. This makes adding up total costs much easier for ride share drivers than if they used their own vehicles.
Making $706 a month is very doable with anyone of these apps and its actually really very easy to register as a car owner. If you are worried about security don’t be! All of these companies offer insurance and throughly vet each driver. Some common requirements for Turo, Getaround, and HyreCar are that the renters need to have a completely clean driving record...
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