Does the idea of renting your car out to your neighbour terrify you? The good news is there is now plenty of companies to help rent your spare, or unused car to earn some extra cash. Renting your car out locally has never been easier and safer, companies such as Zipcar, City Car Club, Easy Car Club are helping motorists utilize their unused cars.
Renting your car the easy way
These flourishing companies have caught on to the fact that some people's cars are just sitting in their garages do nothing. Now people have the opportunity to lend their cars out to a growing demand of motorists and earn some extra cash. Hiring cars from a rental company is expensive and often problematic, so it is natural that these new car clubs are finding their way onto the market.
When joining these companies you can set the rental price, although there are guidelines. You can decide what date and time your car would be available, and you do have the freedom to reject offers as well. There are guidelines to be adhered to and this means you must be the owner of the car, registered keeper with the DVLA, and is not a company or lease car.
There are certain criteria to follow and every company holds their rules. To register your car, it needs to be a specific age, there will be an insurance group recommendation with rating guide, car replacement with maximum value, limited mileage, zero modifications, valid car tax, MOT and proof of insurance. Depending upon the company some stipulations and be less or more.
Signing up to rent a car is a simple process and don't worry, every car is fully inspected for road worthiness. Furthermore, all cars are rented out with fully comprehensive car insurance; no claims discount protected and free RAC roadside assistance and recovery.
If you are looking to renting your car out, or borrow one yourself, these companies take all the guess work out of handling money, vetting, licence checks, deposits, forgeries and other unforeseen issues. Given that more and more of these companies are popping up, always check your chosen company in mind thoroughly.
One company that stands out to me is Easy Car Club. They are backed by Stelios and PROfounders Capital; they make joining and renting your car worry-free, there is no membership and recruitment is free. They offer free RAC roadside assistance, recovery and MOT when you join.
Some things to look out for are:
The company's reputation?
How many members to they have?
Are they supported by anybody and if so who are they?
How long have they been established?
Are there any hidden costs?
Minimum weekly or monthly rental?
What is the cost to join?
Is there a membership program?