Maybe you’re tired of the traditional car rental services nickel and diming you, or maybe you just want to drive something different for a few days–whatever the reason, peer to peer car rental services are definitely having a moment. But how can you hop on the peer to peer car rental trend, and will it save you money?
We took a look at two of the most popular peer to peer car rental apps, Turo and GetAround, to see how easy and affordable these car rental alternatives are. Read on to learn more about what renting a car might look like in the 21st century! After all, you don’t have anything better to do while you wait three hours for your rideshare car to arrive, right?
What Is Peer to Peer Car Rental?
To figure out why peer to peer car rental is so revolutionary, it’s important to understand how renting a car usually works.
Typically, you would go through a car rental company, with a large group of available cars called a fleet. You could use a car rental app, select a vehicle and, in theory, show up to drive it away. Because the companies are large and determined to fulfill rentals, their stated inventory doesn’t always match what’s actually on the lot, leaving many drivers stranded.
When the bigger companies do have cars on the lot, they can charge a premium due to that pesky principle of “supply and demand.” Think about how much you were willing to pay to take that rideshare home at 3:00 AM. Desperation leads many stressed travelers to shell out, and the large companies keep profiting.
With peer to peer car rental, you’re not dealing with a major company or middle man – you’re dealing directly with a car owner. Usually, that human being has one car to rent, and it’s either available or it isn’t. There are no surprises or upcharges involved because the transaction is simple and straightforward.
Turo Vs GetAround
Two of the leading peer to peer car rental apps are Turo and GetAround. Both apps serve a very different purpose, however. While Turo is more like a traditional car rental service, GetAround is more like a rideshare alternative.
The Turo App
The Turo App is your traditional car rental experience with a little bit more customization and humanity. Rather than relying on customers to come to a specific rental location to pick up a car, customers can request something akin to concierge service. Renters can drop cars off at your home, hotel, or another specific rendevous point.
Customers also have more control over the specific car they request. Many drivers are using the app to test-drive electric or hybrid vehicles to help them decide if they’re ready to make the switch. Others are looking to spend a few days with luxury wheels without breaking the bank.
Typically, Turo cars are for rentals that last longer than a few hours. Liberty Mutual insures cars rented through the app.
The GetAround App
While Turo is essential a car rental app, GetAround is more like a car borrowing app. Users can book a car for the length of a single errand without having to pay for an entire day. This makes it more like an alternative to your rideshare app, though longer rentals are possible.
This app is available only in specific cities, and the majority are large metropolitan areas. It’s a solution for city dwellers who can’t afford a car – or who simply don’t have a parking spot that makes owning one practical or convenient.
The cities serviced by the GetAround app include San Francisco and Los Angeles, both known as being cities where cars aren’t optional. The app makes it possible for you to make living in these places a little bit more practical.
But Does It Save You Money?
If you are savvy, these services can save you money. Unlike traditional car rental services, cars on these apps can be older. If you’re not looking for the hottest new vehicle on the road, you can rent for cheaper with more amenities.
Sometimes it’s car ownership that’s expensive. Between the gas, the parking spot, and the upkeep, owning the car yourself just isn’t affordable or practical. Peer to peer rental can be a less expensive alternative and leaves the maintenance with the lender.
Perhaps even more impressive than savings are the earnings. By offering your own vehicle on the app, you can make a passive income using a car you already own. If you have two cars, you don’t even need to give up your wheels to rake in the dough.
To save money as a lender, you might consider looking into the Treads app.
Treads is a subscription-style service that takes care of your car maintenance for you. It ensures that tires get the care they need, which keeps everyone safe and happy. A team will come to you to rotate, repair, or even replace your tires with the best tires for your particular vehicle.
Stop Waiting for Your Rideshare!
Peer to peer car rental apps are catching on because they allow individuals to take their transportation into their own hands. Renters can leverage vehicles they already own, and users can hit the road on their own schedule. Because it’s all done through an app, the entire process is easy, efficient, and safe.
The process only gets easier and safer when renters maintain their tires using an app like Treads. Visit our homepage and take a look at our subscription plans and request early access. Treads can’t wait to keep you rolling while you count your extra cash!