Can you rent your unused vehicle?
A less expensive way to become an entrepreneur.
Have you been working from home? Do you have one or more extra vehicles? What if you could make money off that unused car sitting in the driveway? To be fair, automobiles were not made to sit. They were made to be driven. Now you could sell it, or maybe you could let someone else drive it. Instead of selling it and getting a lump sum, take that money in increments. Rent it out. If you have a second or third vehicle, this makes even more sense.
A few months back, I had an employee who mentioned to me that he was going to be doing some repairs to his vehicle. So I told him that he could rent my spare vehicle out while doing so. It was nothing crazy, he offered $150 per week. I quickly accepted. He ended up with the vehicle for two weeks and I ended up with and extra $300 dollars.
This could actually be a pretty profitable business for many of you. If you own your vehicle then its even more profitable. As long as the vehicle is in good condition there wont be much overhead either. Obviously, depending on how many vehicles you have or want to dedicate for this, your income will vary. You can rent out personal and even commercial vehicles.
There are plenty of dedicated websites to get started with. Turo and Getaround are a couple of the more popular sites to check out. These types of services are not as popular in some areas as others. I would check each company to see how popular they are in your area. Read all the fine print before doing this, there are legal and insurance considerations to this as well. Keep in mind that you are starting a business, so these considerations should cross your mind anyway.
Now there are some requirements the vehicle must meet in order to be eligible. Age, mileage, and title status all go into eligibility. Each company will be slightly different from another, so be sure to check with them. Most people won’t want to rent a hunk of junk, so make sure to have the car checked over before letting someone take it on a trip.
Here is Turo’s requirements for vehicles:
Vehicles we accept
All vehicles must meet Turo's list of universal requirements. They must also meet specific requirements set for the US…
If you have a vehicle that is begging you to be driven, this could be an easy way to start, or expand your entrepreneurial lifestyle. Start with one and continually build an entire fleet, or maybe you just want to earn some extra cash for vacation this year. Either way, this is a good source of income while you're cozied up on the couch. There aren’t many other businesses you could start this easy, so you may just want to find an extra car soon.