DollarBreak is reader-supported, when you sign up through links on this post, we may receive compensation. Disclosure.
Getaround is an online car sharing platform that enables you to rent out your vehicle when you are not using it to earn some extra cash. The company has been around since 2009 and currently has over 9 million users. The platform offers numerous benefits for car owners, including free insurance and contactless sharing. There is also 24/7 support for hosts and you can earn up to $6000 per year.
Getaround is an online car-sharing company that connects car owners who are not using their vehicles with renters who want to borrow their cars. The platform allows users who are not actively using their cars to make money by renting them to other people.
Getaround uses an algorithm that matches a car owner who wants to rent out the car with renters who want to borrow a vehicle. Car owners can set a duration for how long they want to rent out their vehicles. Renters can also browse the available cars on the app to find a vehicle that meets their needs.
As a vehicle owner, you can leave your keys locked in your vehicle. When a renter wants to borrow your car, the app will inform them of where they can pick up the car.
The app also provides a variety of different protection systems, including:
And many more
During a rental, a vehicle owner can track the location of their vehicle. After a successful rental, renters and vehicle owners can exchange feedback.
How Much Can You Make With Getaround?
Getaround uses automated pricing technology to help car sharers price their cars in a way that can maximize their earnings. The minimum hourly charge for cars on Getaround is $5. In some areas, you can also choose how much you want to charge.
When you rent out your car on Getaround, your earnings will depend on different factors, such as the type of vehicle you own and the demand in your area. The platform also enables you to view your estimated earnings for each month based on the current and upcoming reservations for your vehicle.
However, note that the platform charges car sharers a 40% fee to cover their insurance and other costs.
Who is Getaround Best for?
If you do not use your vehicle constantly throughout the day, you can rent it out on Getaround to make money fast. Doing so can also be a source of passive income since you do not need to do anything actively. Thus, Getaround is best for anyone who wants to create a source of passive income with their vehicle when they are not using it.
You can set up the app to automatically rent out your car whenever you are not using it. If someone chooses to rent your vehicle, you will make money from the rental.
Getaround Benefits: What Does Getaround Offer?
When you first start renting out your car with Getaround, a representative from the company will visit you to take some images of your vehicle to list on the platform. The representative will also install Getaround Connect on your car.
Getaround Connect is a security system that will help to keep car renters accountable throughout the rental period. The system enables you to track your vehicle using your smartphone while someone is renting it. In extreme cases, you can also use the system to disable your car so that a renter cannot continue using it.
However, note that you will need to pay a $99 installation fee and a $20 monthly fee to use the Connect system. There is a five-day grace period, during which you can uninstall the Connect system without paying any fees.
Insurance and Mileage
Getaround provides all its car sharers and renters with 24/7 roadside assistance for flat tires, breakdowns, and accidents. Car sharers also enjoy comprehensive collision and liability insurance of up to $1 million for their vehicles.
The platform also has a daily mileage limit of 200 miles for all vehicles. If a renter borrows your car and drives more than 200 miles in a single day, you will enjoy additional earnings from mileage fees.
Getaround performs a driving-record check on all renters before allowing them to borrow a car. The platform is integrated with DMV systems, and driver records are checked automatically in real-time for each potential renter.
The company will cross-check every driving record with social media profiles, the credit bureau, and at least sixteen other reference points before allowing a renter to rent a car. Moreover, if a renter gets a fine or citation while they are driving, they will also be responsible for it.
Before a renter can rent a car, a renter must also meet some requirements, including:
Having a driving license for at least two years.
No DUIs or drug offenses in the last seven years.
No more than two at-fault accidents or minor violations in the last three years.
Thus, when you rent out your car on the platform, you can rest assured that you are renting to a safe driver.
Moreover, the Connect system also ensures that all rentals on the platform are contactless. This system enables you to rent out your car without meeting the renter physically, saving you time and costs.
Getaround also offers referral bonuses to its users. You can earn additional cash either for referring new guests as a host or referring new hosts.
You can refer new guests using your unique referral link up to four times per month. You will earn $20 for each guest you invite to the platform who completes at least one trip. If you refer a new host, you will earn $200 when their car becomes available for rental on the Getaround website.
You will receive your referral bonuses via a credit to your Getaround account, which you can subsequently withdraw.
Before you can rent out your car on Getaround, there are some requirements that you will need to meet. The vehicle you want to rent out on the platform must be a 2005 or newer model, and it must have less than 125,000 miles on it.
Apart from these requirements, you can rent out almost any vehicle on Getaround. You can visit the company’s website to apply for an account as a car sharer and see if your car qualifies for rentals.
Getaround Costs to Consider
As a Getaround car sharer, there are not many costs that you will need to consider. One of the main costs that you will incur is the $99 one-time installation fee and $20 monthly fee for the Connect system. Apart from that, the platform deducts all other fees directly from your earnings.
However, since you still own the vehicle, you will be responsible for maintenance fees. Since your vehicle will be driven more frequently, you may need to pay for maintenance more regularly.
Getaround also deducts 40% of your rental earnings as a commission fee.
Getaround Payout Terms and Options
The platform only supports one payment option. As a car sharer on Getaround, you will receive your earnings via PayPal. There is no minimum threshold for payouts from Getaround, and the payment process is automatic.
The platform makes payments once per month, on the 15th of each month. You will receive payment for all the rentals completed in the previous month.
Getaround is a legitimate platform that you can use to rent out your vehicle when you are not actively using it. It enables vehicle owners to build a reliable source of passive income, and the platform has received mostly positive reviews from users.
Many reviewers praised the platform for having an easy-to-use user interface and website. Users were also satisfied with Getaround’s convenient process for renting out their cars and regular payment schedule.
However, the company has received some negative reviews and complaints from users. These reviews were mostly from car renters who were unsatisfied with the quality of the cars they rented. Thus, you are likely to have a positive experience with the website as a car sharer.
What Are the Getaround Pros & Cons?
You can turn your vehicle into a passive income stream to earn up to $10,000 per year.
Car sharers enjoy up to $1 million in comprehensive liability and collision insurance for their vehicles.
The Getaround algorithm automatically sets a price to help you maximize your rental earnings.
Getaround provides 24/7 support for car sharers if they encounter issues when renting out their cars.
You may incur additional maintenance costs since your vehicle is being used more regularly.
You may occasionally encounter bad renters who cause damage to your car or dirty it.
How Good is Getaround Support and Knowledge Base?
Getaround offers comprehensive resources and a help center for car sharers and renters on the platform. If you have any questions about how to use the app to rent out your car, you can access the website to find an answer.
Getaround also provides 24/7 host support. Thus, you can contact a support representative at any time of the day if you encounter issues when renting out your car on the platform.
Getaround Review Verdict: is Getaround Worth It?
Getaround is one of the best peer-to-peer car-sharing services that you can use to rent out your car. The platform provides many features that can benefit car sharers, including $1 million in insurance coverage and 24/7 support.
Moreover, the platform’s algorithm automatically helps you to set the hourly rate for your vehicle, enabling you to maximize your rental earnings. Nonetheless, you will earn at least $5 per hour in rental fees, although the actual figure may be higher. Getaround Connect also enables car sharers to track and control their vehicles during a rental.
Overall, Getaround offers a great way for you to convert your vehicle into a source of passive income when you are not using it.
How to Start Earning With Getaround?
Here are some steps that you can follow to start earning money by sharing your car on Getaround.
Once you register for an account, you will need to indicate that you want to list a car. You will also need to confirm that your car has no more than 125,000 miles on it and provide other basic information about your vehicle.
You will also need to verify your information by signing into your Facebook account.
Step 2: Set Up Your Rental Listing
You will then need to set up your car-sharing listing by providing a name for your car listing. You will also be given a link that you can share to promote your vehicle. In addition, you will also need to provide the address which renters can pick up your car from.
Step 3: Choose Rental Timings and Rates
After setting up your rental listing, you can then choose when you want to rent out your car. You can designate specific hours to rent out your car, and can also set entire days as blackout periods.
In some cities, the platform also allows you to choose how much you want to charge a renter to borrow your car. If your city supports this feature, you can set an hourly price for your listing.
Unlike Getaround, DoorDash is a food delivery platform that offers gig economy jobs. You can join DoorDash as a food delivery driver to complete gig-type jobs and make money. Your job as a delivery driver would be to transport food from a restaurant to a customer’s address.
On average, you can earn between $15 to $25 per hour with DoorDash. You can also schedule shifts up to seven days in advance.
Thus, it is not possible to use DoorDash to earn a passive income. Nonetheless, if you want to make money fast, DoorDash is one of the best gig job apps that you can join.
Grubhub is an alternative gig economy platform that you can use if you want to find gig worker jobs. the platform enables you to earn around $12 per hour plus tips by delivering food from restaurants to customers.
In addition, it also enables delivery drivers to withdraw their earnings every day. In contrast, Getaround only pays car sharers once every month. Thus, if you want to make money fast, Grubhub can be a good alternative platform to Getaround that you can consider.
GoPuff is an on-demand grocery delivery service that customers can use to order groceries to their homes. The platform enables you to find gig jobs online, and you can complete grocery deliveries to earn money.
In addition, you can also earn up to $21 per hour and work on a flexible schedule. This means that you can easily work for GoPuff to earn some extra income in addition to your main job.
The company aims to provide people who need cars to live and work with safe, convenient, and affordable access to these cars. Getaround has been around since 2009, and the platform now operates in over 950 cities around the world.
Getaround also features an app for users to book or rent out their cars from their mobile phones.
Can I use Getaround for Uber?
If you do not own a vehicle but want to drive with Uber, you can use Getaround to rent a vehicle in your area instantly. This would enable you to start driving with Uber without having to pay any upfront vehicle fees.
How long does it take to get verified on Getaround?
On average, most new accounts on Getaround are verified within 24 hours after you submit the necessary documents.
After you submit the necessary documents, Getaround will let you know if you need to submit additional documents or when your profile is verified.
How do I contact Getaround?
If you have any issues, you can contact the Getaround customer service team using the mobile app at any time. To submit a support request, tap on the Help button in the top left menu.
The Help menu allows you to access FAQs to find the answer to your question. If you cannot find the answer to your question, you can submit a ticket to the company for further assistance.
How does gas work with Getaround?
Getaround requires renters to return the vehicles that they rent with the same level of fuel as when they rented them. If a renter does not do so, the platform may charge them additional fees for gas costs.
Do you have to have Facebook to use Getaround?
Having a Facebook account is a requirement to use Getaround. The platform uses Facebook to authenticate users, and not having a Facebook account would prevent a user from being able to share their car or rent a car.
Lorraine has had a successful career in the financial industry with a variety of roles such as senior executive and national coordinator.
From saving money to starting your next side gig, Lorraine's advice and strategies can prove valuable for anyone seeking to improve their financial well-being.
The content on dollarbreak.com is for informational and educational purposes only and cannot replace any professional financial advice.