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If you own a car and don’t use it 100% of the time, how about earning some money with it?

I’VE SEEN CAR-SHARE COOPERATIVES. There’s one where I live. For a set price (like $500) I can buy into the coop to become a member, making me a part owner of all the vehicles. I then have access to “rent” any number of cars in the fleet. That’s a great concept, but not that much different than a normal car rental place, like Budget, I think. There’s still an inventory of vehicles that need to be managed and maintained by an organization.

What I think is cool about RelayRides is that the vehicles are already owned by people. These are cars and trucks that would otherwise just be sitting there when their owners aren’t using them. In other words, the demand for a vehicle by a “renter” in this situation doesn’t lead to a car being added to the road.

Car owners who offer their vehicles for rent have the security of being able to choose who rents their car. Renters build reputations by being reviewed by owners. In addition to community review, to join as a renter one needs to pass a screening process. (Learn how it all works here.)

This is community; it’s about people helping each other out. The owner provides a car to the renter, the renter helps the owner pay for their car.

Here’s another plus: With Labor Day coming up and rental vehicles at a premium, it’s another option to consider to get yourself on the road.

[Note: This post is sponsored by the good folks at RelayRides, whose service we gladly endorse.]

Financial Savvy

 

About The Author

Carlo Alcos

Carlo is the Dean of Education at MatadorU and a Managing Editor at Matador. Like him on Facebook and follow him on Twitter. He lives in Nelson, British Columbia.

  • The Travel Chica

    I am trying out the car-free lifestyle, so I will have to look into RelayRides.

  • autonetzer.de Carsharing

    Whoooop ;) We like your little movie-clip! Keep rolling!

  • Sean Buehler

    Awesome idea, until someone partakes in a bit of “extracurricular” activities in your backseat.

    • Carlo Alcos

      Hey, more love to go around, nothing wrong with that :)

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