Don't Drive Your Car Much? Earn Money by Renting It Out Online

Times are tight. Inflation might be easing, but prices are still high, and side hustles have become a way of life for many Americans. One potentially easy way to make extra money could be sitting quietly in your garage right now. Online services let you rent out your car to other drivers when you're not using it.

Renting your car online could be a quick way to make extra money on the side, and you really don't have to do anything extra in your day-to-day life. Just make sure it's not your primary car that you need to use daily for commuting to work or other essential trips.

We'll tell you how you can get started renting out your car, and about how much money you can make doing it. For additional ways to make extra cash, check out six more side hustles.

Which websites let you rent out your car?

Renting out your car sort of works like renting houses or apartments on Airbnb. Turo, HyreCar, Getaround and Avail are currently the biggest online rental services where you can list your vehicle.

Turo: Started as RelayRides in Boston in 2010, this peer-to-peer car-sharing company is now available in all 50 states. If someone's visiting your area and needs a car for the week or weekend, your car could be an option if you list it on Turo. 

You can opt for your renter to pick up your car from a designated spot or you can bring it to them. You'll get paid between 60% to 90% of the trip cost (the rest goes to Turo), depending on the protection plan you choose.

HyreCar: With HyreCar, car owners rent out their vehicles to rideshare and delivery drivers who need cars for their gigs. For instance, if someone doesn't have a qualifying vehicle to be an Uber driver, they could rent your car for the weekend. 

When someone requests your car, HyreCar sends you an application you then need to approve. Your earnings for the rental depend on the car protection plan you choose. You can receive between 75% to 85% commission with HyreCar.

Getaround: Like Turo, Getaround is a peer-to-peer car-sharing company. However, be aware that Getaround charges a 40% commission on all trips booked, and you'll have to pay a one-time fee of $99 to get started. You'll also be charged a monthly $20 connection fee for your car.

Avail: With Avail, you drop your car off at an airport and the car-sharing company takes care of the rest. Once a vehicle is rented, owners get a fixed amount each day, between $20 and $25 depending on the vehicle. 

 

Note that the requirements for renting out your vehicle vary by each company.

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