Have you ever asked yourself, “How do I rent out my car in order to earn extra income?” Car Flo has the answer. Car Flo is a successful carsharing marketplace that will help you rent your car online to local rideshare drivers. This is also known as car sharing. They connect owners like you with people who don’t own or don’t want to use their own vehicle when becoming a Lyft or Uber driver.
Advantages of Renting Out Your Car
Let’s say you have an extra car that you don’t drive very much. Right now, it’s sitting in your garage, in your driveway, or parked out on the street. Instead of letting it accumulate dust, why not put it to use so you accumulate some cash and make a potential rideshare driver’s life a whole lot easier? Here are two reasons why renting out a personally owned vehicle is a win-win for owners and potential drivers:
- Earning cool cash while sitting back and letting your car do the work.
- You can make over $1,000 a month by renting out your personal vehicle to a rideshare driver. Sweet, huh? In fact, average car owners who list their vehicle for rent through Car Flo can earn up to $12,000 a year.
- The number of Uber and Lyft drivers is growing every day. Especially as more and more independent contractors join the on-demand economy. Many of these independent contractors want to become a rideshare driver. The more rideshare drivers there are, the more demand there is for quality cars like yours
2. Car owners enjoy low risk when renting their cars to drivers.
- Insurance: Let’s play “Jeopardy!” The answer is: What does Car Flo provide to car owners like you at no extra cost? The question is: What is rideshare insurance? Yup, Car Flo offers you comprehensive, industry-leading rideshare insurance when you list your car with us for rental. We’re talking insurance that meets and often surpasses state insurance requirements. And your vehicle is also protected by Uber insurance coverage and Lyft insurance coverage while the renter of your car is driving for either Uber or Lyft.
- Extensive background checks: All of Car Flo Car’s renters go through an extensive screening process and a background check before they can rent a vehicle. This assures you that only conscientious drivers will get behind the wheel of your personal car.
- Incentives to drive safely: When someone rents your car from Car Flo, they’re renting it to use as a rideshare driver. So it’s in their best interest to keep your car clean, neat, and in the best condition possible. Reckless driving can lead to an accident, which will keep your car and its driver off the road. And rideshare drivers can’t earn money if they don’t have a car to drive.
- Longer rental periods: Renters can easily extend the length of their rental period through their Car Flo driver dashboard. This means they keep your car longer, which in turn, continues to “drive up” your profits!
How to Rent Your Car Out
Renting your car out with Car Flo is as easy as ABC. See for yourself.
- Visit carflo.co and enter your information.
- Describe your vehicle’s condition and fill in pertinent information such as year, make, VIN number, and model. Really describe why your car would make a great vehicle for car sharing.
- Take several sharp, clear interior and exterior pictures of your vehicle, then upload them along with your vehicle registration and Uber/Lyft 19 point inspection documents.
Car listing tips:
- While they aren’t mandatory, the inspections for Uber/Lyft and a basic 19-point inspection look extremely good to drivers, as they won’t have to get them done themselves individually. Owners who get these inspections done get their vehicles rented 87% more often than those that don’t!
- We recommend getting your Uber/Lyft and basic 19 point inspections done before you list your car. That way, drivers can rent your car immediately instead of waiting for the inspections to be done.
- Decide on a pickup location and a Weekly rental price. We recommend looking at other listings in your area for your kind of car, just to see what the going rates are. Rental prices average about $300-600 per week
- Car Flo market place: Our simple to use marketplace is where most of our drivers find vehicles like yours to rent. Log on and view the drivers in your area that need cars, or the specific type of car that you’re listing.
- Driver invitation system: Car Flo makes it possible for you to invite potential renters to see your car by using our driver invitation system tool. Log in, then use the tool to search for drivers and invite them to apply for your vehicle.
- Reaching out: If you don’t feel like sending out rental invitations, there’s an additional option for owners to search for drivers and reach out to them personally. Owners can pay a small fee to see a driver’s personal contact information. Then, an owner like you can reach out to a potential driver that you feel may be interested in a vehicle like yours. It’s a very personal way of doing business.
Finalizing the transaction
Once a driver has applied to rent your car, the approval, and soon, the money making process begins. Here’s what to do after you approve a driver’s request:
- Upload your vehicle registration ASAP: Having this uploaded previously or as soon as you’ve given approval to a renter will really speed up the rental process.
- Fill out a damages list: Be as absolutely thorough as possible so there are no surprises when the driver brings your car back. List the location and details of every little ding and scrape, if there are any.
- After submitting the damages list: The car’s insurance will be uploaded to the Car Flo site within 24 hours before the rental period. Both you and the driver will receive an email verifying that the rideshare insurance has been uploaded and is available for viewing.
- Set up the time/place: Once a booking is confirmed, contact the driver to set up a mutually convenient pickup time and location. Some owners actually deliver their car to the renter, but that’s totally optional.
- Safety first: If you don’t feel comfortable having a renter come to your house to pick up the car, arrange a meeting at a public place, like a busy supermarket parking lot.
- Inspection: When the driver gets there, both of you can inspect the vehicle for damages, to make sure the imperfections you listed online match what’s actually on the car.
- Confirmation: Both you and the driver will confirm the pickup on the Car Flo app. It’s important that you emphasize to the driver that they have to do this ASAP. Try to get this done before you hand over the keys.
- Insurance will begin: Insurance begins once the pickup is confirmed by both parties.
The Dropoff/Returning the Car
- The driver is notified: The renter of your car will be automatically notified 24 hours before your vehicle is due to be returned to you. If the driver wants to extend the rental, and you’re OK with it, he/she can do that through the Car Flo dashboard. That’s more money in your pocket!
- Time of drop off: Agree on a mutually convenient drop off time and place. Again, use your discretion as you where you want to meet.
- Confirm drop off: Just like with the pickup, both driver and the owner will confirm the drop off on the Car Flo site.
Making money renting your car out in 2019 is easy with Car Flo. Just give them a call to fast track the entire process: 516-650-8604
The driver demand for Uber/Lyft is incredible. If you own a good quality vehicle that you don’t use, why not rent it out and make some extra cash? Pay off some bills, go out for some nice meals, take the vacation you’ve been putting off, it’s totally up to you! You’ll also help a rideshare driver who needs a vehicle to start working and earning money as well. Car Flo will answer any questions you might have and help you start the process of becoming a car sharer.