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Car Sharing: Getaround Enables You To Make Money Renting Out Your Car


Startup Getaround, a peer-to-peer car sharing service, has just raised $13.9 million in funding to expand the business and roll out a new product called Getaway. If you rarely use your car or it’s sitting at your parents house while you’re up at college, this might be a great way to get some use out of it and make some cash.

According to CEO Sam Zaid, some 95% of cars don’t get used 22 hours of the day, so the goal of the startup is to make use of them for users who need a car but don’t have one. Since the start of the company in 2011, more than 10,000 users have signed up in Portland, Austin, San Francisco, and San Diego.

The company is taking these efforts a step further with Getaway, which will allow those who rent out their vehicles to have Getaround handle all the rental details for them. It can get time-consuming to handle scheduling on your own, so if you want to do this but don’t want to deal with the stress of managing who is in your car and when, Getaway will make it even easier and take care of it for you.

According to Zaid, cars must be available for at least six months and car owners are guaranteed to make at least $1,000 each during the first three months, potentially more. Cars are chosen for the program based on the type of car, the location, and the likelihood of it getting rented. They will be available 24/7 in secured lots.

Each car will have a Getaround Carkit installed, which makes it easy to rent a car. The kit has GPS to track usage and provide security protection, even allowing renters to open cars through a mobile app.

Would you use a service like this or offer your car for rent for a little extra cash? I’d love to do it if it came to Detroit, it would be one step closer to my goal of not owning a car.

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