easyCar Club – Top Five Tips On How To Make Money From Your Car – Sharing Economy

Sharing Economy – With the rise of Airbnb and apps like JustPark, thousands of us are entrusting our belongings to others and reaping the rewards. It seems that anything you can own, you can share – and make some extra cash in the process. So, how do you make money from your car? 

So which of your belongings could you use to make money from?

Well, it seems that women are the biggest earners when it comes to renting out our cars – women are 30% more successful than men and make 7% more on average.

Despite this, women are actually three times less likely to rent their cars out than men! There’s huge untapped potential for women to make thousands from vehicles that on average sit unused for 96% of the time.

So how can you make the most out of sharing your car?

First impressions count 

It might seem obvious, but don’t dismiss the importance of keeping your car clean, polished and in good condition. Renters might make a few allowances for their fellow members, but will still be quick to judge messy interiors or breakdowns.

Trust your neighbour

Have an appropriate mindset about your car – trust that others will use it responsibly and remember that you’re joining a community of like-minded individuals.

If you’re nervous, stay in regular contact with renters to ensure they understand the process and are aware of the details of the car, which will help to establish a friendly and trustful relationship. 

Be realistic in your valuations

One of your biggest unique selling points will be competitive pricing – renters will save an average of 20% on peer-to-peer bookings versus traditional car rental companies. So make sure you’re aware of industry rates and carefully consider your price points to encourage bookings and reviews from the outset. 

Flexibility is a virtue 

While many car rental firms are restricted by office hours, the beauty of peer-to-peer car hire is that it cuts out the middleman and allows for flexibility to fit around a renter’s schedule. Use that to your advantage and increase your bookings by allowing for pick-ups and drop-offs outside of standard depot hours.

Market yourself 

You never know who around you is planning a trip over the weekend, so make sure you let your friends, colleagues and social groups know the car is available. For maximum exposure, you can also turn to social media – why not tweet positive feedback or share a link to your car profile?

Lucy Tittle, Community Manager at easyCar Club, UK’s largest peer-to-peer sharing car rental platform.