Do you spend hundreds of dollars a month on a car that sits idle for most of the week? You’re not alone. The RACV estimates that running a small car in Sydney’s inner suburbs sets you back around $145 a week. You’ll pay a bit less if you don’t drive it every day, but the bulk of the cost is what you spend just to own a car: the depreciation, rego, insurance, servicing and repairs.
Rent out your car with Car Next Door, and turn it from a drain on your wallet into a money-maker.
One of Car Next Door’s top-earning owners (let’s call her Jane) made $560 by renting out her car last month. We’re talking profit – $560 is what she took home after the cost of the fuel and any additional wear and tear from the car-sharing usage is taken into account.
Now Jane has the use of her car whenever she needs it, and an extra $560 in her pocket at the end of the month. Plus, she’s helped the environment and her community. Nice work, Jane!
So while Jane’s neighbour (let’s call him Tom) borrows Jane’s car on Sunday afternoon to take his grandma to enjoy the springtime display at the National Camellia Gardens, Jane has time to think about how she’ll spend her new-found car-sharing cash.
She might scroll through Kiva’s website and make a micro-loan to help a group of Iraqi women set up a home-based business. Or blow it all on a killer frock. Or a gorgeous, head-turning new saffron-yellow bicycle. She could throw a party. Or maybe take her mum out for a special high tea in the city.
Or if Jane’s the type who prefers to save for a rainy day, she could squirrel her car-sharing earnings away each month in a high-interest savings account and end up with over $6,800 in a year’s time.
Whatever Jane does with the money, it’s sure to be more rewarding than spending it on a car that’s not earning its keep.
How much could I make if I rent my car out?
Jane gets a particularly good return from her car because it’s a fairly new, automatic, well-maintained car in a good location and it is available a lot of the time.
The amount that you could make if your rent out your car through Car Next Door varies depending on what kind of car you have, how often it is available, where it is parked, and how enthusiastically you market it to your local community (with our help, of course).
An owner of an automatic car with good availability at weekends earns between $140 and $900 in a month from car-sharing through Car Next Door.
Think you might like to rent out your car, but want to find out more about it?