Getaround is a leading, digital vehicle-sharing marketplace that provides communities an affordable alternative for owning a car. It was established in San Francisco, California where the headquarters is based. The establishment was in 2009, and as of 2019, the company had recorded a massive amount of 5 million users after it celebrated 10 years of its existence.
Getaround competes with existing vehicle rental businesses by providing customers with reduced rates and more rental flexibility.
This is a very unique and legal way for vehicle owners to make some extra money. Even when they are still at the workplace, they could get others to rent their car and get paid for it. If you are planning to travel out of town for the weekend, you can rent it out too and make some money.
For people who don’t want or need to own a car yet, it’s a great way to get to use various types and models of cars. If you can’t afford to own a particular model of a car, you can simply rent it on Getaround and have the experience of owning it!
Getaround’s Operation Method
The Getaround algorithm connects car owners with those interested in renting a car. Owners would feel in command of their car even when they are not in it thanks to the connect system.
They can leave the keys locked in the car, unlock it remotely when the driver arrives and give instructions regarding where to find the key.
Renters could borrow your car for an hour, a few days, or even an entire week dependent on how long they rented it.
Across America and some other major countries of the world, the service of Getaround is now being enjoyed.
Vehicle requirements before it can be listed on Getaround
As a car owner, you can’t just list any car on Getaround and it will be accepted. There are requirements every car has to meet up with. The requirements are enumerated below:
- The car must be of a recent model, 2008 or newer is recommended.
- It must have four wheels as motorcycles and tricycles are not allowed.
- The odometer reading must not be up to 125,000 miles.
- It must be a small vehicle manager i.e., less than 8 passengers at a time.
If your vehicle meets the requirements above, then you can get it listed on Getaround. Before listing your car for rental, it is essential you read through the terms and conditions.
There are also requirements for renters as the safety of the car is essential. These requirements include:
- Renters’ age should be minimum of 19 years old
- Possess a 5-year clean sheet from drug or alcohol abuse or any related violation
- At most 2 driving accidents in the past 3 years
- Driver’s license must be at least 2 years old.
- When making your first reservation, you must pass an immediate driving record check.
Creating your first listing
Creating your listing can be done easily by following these steps:
- Pick a username for the car. This username will be used to advertise it.
- Choose a location so renters can know where to pick up and return your vehicle.
- Create a calendar to specify when your car will be available. Always ensure that your availability calendar is accurate. If you have to cancel a booking trip, you will be asked to pay a fee.
- Write a description of your vehicle. This is where you can talk about the extra features of your car e.g., a sunroof, moonroof, Bluetooth, leather seats, automatic transmission, or a four-wheel drive…
- Create detailed instructions regarding how to pick up the car and how it should be returned.
- Provide some pictures of your car. The pictures should show both the interior and exterior of your car.
How much can you get made from sharing your car on Getaround?
You shouldn’t worry about setting a price for rental on Getaround as the service recommends a price for you. The rent rate is mostly between $5 and $12 every hour, depending on the type and model of your car and the city you live.
After creating your listing, your rate will be determined based on the info you provided during the listing. A tesla owner is likely to earn more than the owner of a 2010 corolla.
The recommended rate given to you is enough to keep you relevant in the market. Your rate can also vary based on the demand in your area. As demand increases, the rate also shoots up. When there is a lower demand, the rate is lower.
Conclusion:
You don’t have a say in how much you make every hour, but how much you make overall is totally up to you because you get to rent out your car for as many hours as you want.
40% of the fees go to Getaround for the use and maintenance of the service. This means you can only earn 60% of the rental rate as a car owner. This simply means that if you list your car at $10 per hour, you will earn $6 per hour.
Frequently Asked Questions
- Is Getaround safe?
Yes, it is. The algorithm of their connect is integrated with the DMV and they have records of the driver in real-time. The renters’ identities are verified before they can be allowed to rent a car. There are requirements they must meet if they wish to rent your car as well. Also, there is insurance on your car if it gets damaged while the renter is driving it.
- Who pays for fuel?
The driver of the vehicle buys fuel during their trip. The vehicle fuel level must not be lower than the level it was when they rented it.
