Are you looking to earn extra cash, but you have limited time? Consider joining the Getaround online community marketplace and enter the gig economy. The platform attracts vehicle owners in need of making extra cash from renting out their cars. The platform is excellent for connecting renters and car owners for a fee.
But, how much can you make on Getaround? We will answer this question and explain how you can make money by simply signing up on the platform and providing relevant details about your vehicle. This article will include pros and cons of using Getaround and tips to make more money on the platform.
What Is Getaround?
Getaround is a car-sharing service company that connects car owners to people looking to rent cars. The digital car-sharing marketplace offers people a suitable alternative to car ownership and public transit. Whether you are starting a business that needs a car or you own a garage full of cars, Getaround will offer you the right opportunities to expand and earn a stable income.
Sam Zaid, Jessica Scorpio, and Elliot Kroo founded this car-sharing company in September 2009 in San Francisco, California. Currently, Getaround has over 550 employees with numerous operation centers. You can find its services available in the US and in different places around the world.
By 2019, the car service app had over five million users with 20,000 connected cars. In the same year, Getaround acquired Drivy, a top rental car company, for $380 million. The company suffered a financial setback in 2020 that led to a layoff of 150 staff members. However, the company is still operational and attracts car owners and renters worldwide.
How Does Getaround Work?
The online marketplace for cars allows people to share their cars immediately with car renters. You can check through the Getaround search address to find out if it’s operational in your area. If you are a renter, you can access the car and unlock it without meeting the car owner. You can host, find, book, or unlock a vehicle near you using the Getaround Connect mobile application.
Once you upload your driver’s license, you can receive the verification to drive any car. There are no membership fees. Through the application, you can view all different types of cars and only pay for the time slot you will be using the car. Once you’ve selected your vehicle, you can pick up the car at the agreed location, and use the Getaround application to unlock the car.
How Much Can You Actually Make on Getaround?
Getaround indicates you can make hundreds of dollars a month during peak demand hours, but there are no exact figures available. Getaround drivers earn a minimum of $5 each hour, but the hourly rate depends on the model and year of the car. You determine the set price of renting the car. Expect Getaround to take 40 percent of the amount you set.
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Once you put your car on the marketplace, the company sets a trip price at a recommended rate. They take into account the model, make, and year of the car. They also look into the marketplace demand for the car and location. It is recommended that car owners take the price recommended by Getaround. However, you can adjust the set price to increase your earnings.
The Pros and Cons of Working on Getaround
If you don’t use your car often, renting it out may be a good idea for additional income. Just like any remote work, Getaround comes with advantages and disadvantages. Below we curated a list of a couple of pros and cons of working on Getaround to help you decide if it’s the best option for you.
Pros of Working on Getaround
- Insurance Coverage. Getaround provides car renters with primary insurance. Before receiving the insurance, Getaround ensures that the drivers have a clean driving record. The level of insurance is relatively comprehensive. It covers liability, theft, collision, and other protections.
- Extra Income. Instead of leaving your car in a parking lot for days on end, you can choose to rent it out and set an hourly or daily rate. To ensure owners are well-compensated, the company only allows 200 miles per day. A trip extension beyond the trip mileage allotment will involve an extra cost.
- Flexible Hours. Getaround does not limit its drivers to any particular time of operation. As the car owner, you can select the most convenient times to rent out your car to interested parties. You can customize the availability to suit your needs and provide only hourly rentals or allow long-term rentals.
- Set Your Own Rules. Getaround features a section where car owners can dictate the rules car renters need to observe. You can easily enforce parameters to ensure your car gets back in good condition. You should indicate whether you allow pets or smoking in your car. This information is pertinent for renters.
- Minimal Involvement. The car service platform allows you to wait for relevant parties to reach out to you. Unlike part-time jobs, you do not have to commit your own personal time or efforts towards this service. The renter will pick the car from the location indicated. You will not need to be involved until you pick it up from the set location.
Cons of Working on Getaround
- Availability. As much as Getaround car service has a global reach, it’s not available in every city. Therefore before signing up, check whether the service is available in your city.
- Overall Dismissal. Often car owners complain about car renters not giving back the car at an agreed time. Some renters do not adhere to the rules or guidelines you set, and there is a risk of getting a late return or late payment with your car in worse condition. Getaround has severe repercussions for renters who don’t observe the timelines or regulations provided.
- General Wear and Tear. Lending out your car will definitely result in general wear of the car. The more often you rent out your car, the more the mileage increases. Despite the car renter returning the car on time and with a full tank of gas, you will still have to take your car for servicing. Frequent visits to the mechanic are the norm for Getaround car owners.
- Difficult Insurers. Check with your insurance provider to see if you can list your car on the online marketplace. Some providers do not encourage car owners to issue out their cars and can even deny coverage.
- Low Demand. Just like any other car service provider, Getaround also suffers from the occasional low season. As a car owner, you are not guaranteed that you will get someone to rent out your car. Sometimes the year your car was made and model number effects the demand you will receive.
How to Become a Getaround Host
Looking for additional ways to make money in a saturated market can be a daunting process. This is why joining the Getaround online marketplace might prove an enjoyable experience. This service allows you to earn passive income with minimal involvement. Below we will show you a step-by-step process of becoming a Getaround driver.
The first step to becoming a Getaround host is listing your car on the car-sharing marketplace. It will require you to provide basic information about your vehicle, such as the make and model. You can also opt to submit a down payment to start off the process.
2. Manage Your Details
You can enter information in the calendar and indicate availability. For example, you may be working from home and only wish to rent your car out on business days, or only a couple times a month. It’s also important to maintain your vehicle(s) and rely on Getaround technology to keep tabs on the car’s performance.
3. Start Renting
You can begin accepting orders from guests once you issue the proper documentation and pass the eligibility requirements. The onboarding team will assist you in creating your car profile on Getaround Connect to give you the best chance of experiencing lots of demand. You’ll receive an itemized trip receipt and a payment receipt for each rental to help you keep track of your records.
How to Make More Money on Getaround
The car’s monthly income and total rental orders are based on a few factors. Location, price, availability, and car details affect your earnings. This is why we curated a list of tips to help you make more money on Getaround.
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One of the major considerations to optimize your earnings is by giving a detailed description of the car. For instance, you can mention if your car has all-wheel drive. If your car has in-car navigation or an infotainment system, include that.
Some car owners also include roof racks, bike racks, or child seats to properly advertise their cars. Car renters also check if the car has a phone mount or BlueTooth functionality. Having an emergency kit in your car is an added advantage.
You should give detailed instructions on your expectations. Once Getaround lists your car on the online marketplace, you are expected to issue further directives on accessing and operating the car. The instructions are only provided to the guest once they sign up to use your car.
Include whether you would prefer valet parking or a lockbox. You should also offer recommendations on the best parking spot. If you have municipal parking information or parking tickets, you should indicate. Refueling is another important aspect. Indicate which type of fuel the car uses to avoid damage to your car.
It’s important that you have an updated calendar to inform the guests when your car will be available. This is important to ensure that there are no last-minute cancellations that result in a cancellation fee. The higher the availability of the car, the higher your earnings.
You can research a popular Getaround spot for guests to pick up your car. If you choose a designated area, guests will have an easier time picking up your car since it’s easy to find. Another important factor to consider is maintenance. Renters prefer a clean and well-maintained car. A presentable car will attract potential renters. It’s also a great way to demonstrate your expectations.
Referrals and Reviews
The best way to get your car rented on the platform is by referrals. Word of mouth can be effective in getting the word around about your services. You can use your social media accounts to gain traction. You can also send a personal invite link to your contacts.
Always ensure you meet the guest’s expectations by providing a car that matches the photos displayed. A well-maintained car will attract positive reviews. A positive Getaround review will attract more renters.
Is Working on Getaround Worth It?
Yes, working on Getaround is worth it. Often side hustles require the concerned parties to be active participants. Through this application, you can earn passively by simply registering your details and waiting for a notification. Getaround is an excellent platform for people juggling many roles who don’t need a car at all times.
Making Money on Getaround FAQ
Getaround connect is the device that facilitates drivers to unlock cars using the Getaround application. The device allows drivers to access the car without necessarily having to exchange keys with the owner. You can simply enter the car from any location.
Getaround requires all users to abide by their eligibility requirements. To rent a car you must not have any major driving violations for the past three years, be at least 19 years old, and agree to periodic monitoring of your driving record.
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The daily mileage limit is 200 miles. If the driver exceeds the standard mileage limit, they must pay additional fees. Therefore the host will receive a reimbursement.
The host must provide evidence of the last service done. They should also provide a car with a model year of 2007 or more recent. The company will also check if the car has more than 125,000 miles, has less than ten seats, or is altered for performance. Your car must meet all safety requirements provided by the company.
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