Is Getaround lucrative as a side job if tenants only pay an average of $8 per hour? It is feasible to earn a profit using Getaround, but there are a few tasks you must first complete.
What is getaround website and How To Earn From Getaround Website
Getaround is a car-sharing network that allows car owners to hire unused vehicles for individuals in their area.
It has over five million members who share and hire anything from trucks and vans to exotic and expensive vehicles in 300 locations across seven nations. Renters pay an hourly fee for automobile use, and owners may monetize their idle cars.
The entry is keyless, and you have complete control over when and how often you rent, making this a completely passive method to generate money with your automobile.
Owners generally charge $5 to $10 per hour, and the firm says that those who make money through Getaround earn thousands of dollars each year on average to earn on getaround.
Is Getaround.com genuine or a scam?
Getaround.com is a reputable business with a B rating from the Better Business Bureau. The app has a 3.8 out of 5-star rating on Google Play and a 4.8 rating on the Apple App Store.
An examination of Getaround’s BBB page, on the other hand, reveals a slew of consumer complaints. Some car owners complain that the firm takes too long to react to and handle concerns with damaged automobiles. A typical complaint among renters is being unjustly accused of causing damage to a car and being held responsible for the repairs.
While Getaround is one of the numerous respectable car-sharing firms, renters should be aware of the potential drawbacks and, where feasible, take extra security precautions to secure their cars.
Getaround.com Review: How to Earn Money by Renting my Car for free
Is Getaround lucrative as a side job if tenants only pay an average of $8 per hour? Several owners have said that you can make a profit. But before you can earn money with Getaround, you must first complete a few steps.
Step 1: Examine Getaround’s minimal system requirements to Earn Money Renting my car.
The requirements to share your car on Getaround, it must have at least four wheels, be 2010 or newer, have fewer than 125,000 miles, and seat no more than eight people. Because there is no professional safety inspection, you are responsible for ensuring that your vehicle satisfies the necessary safety requirements.
Getaround also gives insurance for trips, so there are no insurance, license, or driving record requirements necessary for owners other than those required by state law.
Still, some owners choose to change to more rideshare-friendly insurance companies for the best. John Frigo is a renter on Get around. He had the option of working from home. About six months ago, Frigo decided to start renting out his car on Getaround.
While the incidents during trips are covered by Getaround and don’t affect your insurance, some companies will still drop your coverage.
Step 2: List your car to earn money on getaround.
Once your car fulfills the basic listing and safety criteria, you are ready to list it on Getaround. Creating your listing is completely free, and there are no premium upgrade choices, placing everyone as an equal in their listing. You won’t have to compete with those who’ve paid for advertising.
You’ll input your car’s year and mileage, the ZIP Code for where you’ll be sharing your car, and instructions for renters on how to access and operate the vehicle, then select “Start earning.” A Getaround specialist will then call you to conclude your setup.
In the interim, snap images of your car based on Getaround’s suggested angles. You can post up to 12 images, and automobiles that use all 12 rent more readily than those that don’t.
Step 3: Install Getaround Connect to Make passive income with your car
Before you can start renting your vehicle, a Getaround professional will finalize your account setup and physically install Getaround Connect in your automobile.
This electronic gadget enables owners and renters to lock and open the doors of Getaround automobiles using the Getaround app. After a 90-day free trial, Getaround Connect costs a one-time price of $99 to install and $20 a month as long as your vehicle is active on Getaround.
Getaround Connect also maintains the position of your vehicle and has anti-theft technology that disables the car’s starter when not in use by the owner or a certified renter. While that’s the objective, the technology isn’t flawless.
Just ask Fred Phillips.
Phillips leased out his Ford Transit in San Francisco, CA, and since it was only one of a handful of cargo vans available in the region, he was able to earn roughly $1,000 per month after expenditures.
But in May 2020, the van, parked in a Getaround dedicated parking area, was stolen and unable to be recovered, despite having Getaround Connect installed.
“When I checked on the van, the app said it was parked in its parking location, but it was gone. That suggests the system was somehow bypassed, and the ignition interlock disabled,” Phillips said. “The app still displays it sitting in its parking space.”
Technology may be damaged or malfunction at any moment; therefore, it’s still your obligation to put your extra safeguards in place to secure your car.
Step 4: Understand your advantages to make big money renting out your car
Owners have various features that make renting their vehicle out on Getaround easy and lucrative. The most crucial is $1 million in insurance coverage on all active travels. This covers comprehensive, collision, and liability coverage.
And in addition to the keyless access for renters, owners and renters may use the conventional key or key fob to start the vehicle or select Enhanced Security to start the car straight from the Getaround app. They may also use the app to lock the starting after a journey.
Things to Consider Before You List Your Car on Getaround
A common concern among owners is Getaround’s lack of communication and delayed repair time when a renter damages their vehicle.
Fred Phillips experienced this as well. In addition to the theft, a separate renter backed his Transit into a post, costing thousands of dollars in damage to the van. He stated it was ultimately fixed, but it took two months.
Michael Lowe, CEO of Car Passionate, had a similar experience. One of his tenants got into a minor accident last year, and it took Getaround almost six weeks to repair it.
“While the auto repairs were covered, I was provided no compensation for the income loss sustained while out of action,” Lowe added, even though Getaround specifies that it pays a loss of use refund for damage caused by renters.
Lastly, most of the expenditures incurred during a rental are the responsibility of the renter or Getaround. Some fall on the owner upfront, including penalties or fines caused by tenants, accident repairs, and cleaning for overly unclean excursions.
These are repaid, but make sure you have the money beforehand to afford them.
Getaround vs. Turo vs. HyreCar, which is better to earn money renting out you car
Getaround isn’t the only car-sharing business out there, and it may not be the only one you use to make additional money. Getaround is more passive and provides unique features compared to other car-sharing services like Turo and HyreCar. First, it offers hourly car rentals and remote access to automobiles via the app.
Turo and HyreCar both require renters to pay a daily cost, and renters must meet the vehicle owner to pick up the keys.
Unfortunately, Getaround is only accessible in 300 cities, whereas Turo offers vehicles in over 5,500 cities. HyreCar also caters to Uber, Lyft, and delivery drivers. If you’re renting a car for the express goal of running a transportation-based side hustle, you’ll want to start there.
Getaround Review Summary: Proceed with Caution
While Getaround is a terrific method to generate passive money with your automobile, it does come with a few disadvantages, significantly if your car is damaged or stolen. If you’re worried about renting out your automobile but still want to put it to use, you have choices.
If you travel to work, you may be able to earn paid to advertise on your vehicle. You may also utilize your leisure time to generate money delivering groceries or food.
Find the side hustle that works for you and your automobile so you can generate money long-term.