First Peer-To-Peer Car Loaning Networks Launched
There are already four companies on the West Coast that operate the peer-to-peer car model. Basically, motorists that own more than one car, or those that just want to make a little extra cash, can rent their cars out by the hour, day or week. Renters are able to purchase separate liability insurance plans, so the owners of Getaround have their bases fully covered.
The company already has a website setup, and its already getting decent traffic. The idea of car owners offering consumers an inexpensive and convenient way of renting vehicles poses a serious threat to major car rental companies. Renters don’t have to put down a sizable deposit and they don’t need to sit through annoying upsells. Consumers can even seek out the oldest, most banged up clunkers that they can find in order to save money. Getaround proves that all car renters aren’t trying to drive in style. For some people, autos are an extension of their beings, but for many others they are simply a way to get around.
Drivers that use this service do have an incentive to be courteous, helpful and truthful. Every time a car is rented, both parties are able to leave feedback. So if a renter is two hours late returning the car and doesn’t bother to give the owner a heads up, everyone in the network will be aware. For about $10 an hour you can rent a car that isn’t brand new, but it will run well and get you to your destination.