And thereís definitely a market for short-term car rentals. Thatís because a lot of young people and urban residents donít own cars, snd public transportation isnít right for everything, whether youíre bringing home a load of furniture, or taking a scenic drive.
One car-sharing company is called RelayRides. It already has 20,000 members across North America. If you want to rent out your ride, all you do is sign up, post a picture of your car, and set a price. Say, $10 an hour, or $50 for all day.
The company checks the driving records of potential renters. And once theyíve been approved, they come to you, and you just hand your keys over. 65% of the fee is automatically deposited in your account. The rest goes to the company, and for insurance.
The company uses GMís OnStar system, which tracks loaner cars via GPS to protect against theft, and offers 24/7 roadside assistance.
If youíre interested, their website is RelayRides.com, or do a web search for ďcar-sharingĒ in your area.