Would You Rent your Car to a Stranger?

Rent Sign image

How many hours per day do you actually use your car? If the answer is not many (such as just getting to and from work), you may be able to use your car to make money. According to a CNN Money report, people are renting their vehicles to those in need of a temporary vehicle, and covering them for up to $1 million. Relayrides.com is one of many sites popping up offering this service.

Would you rent out your car? Some things to consider:

The article explains that only minor problems have arisen in the featured driver’s renting process. He drives a BMW 5-series, which he chooses to rent out for $75 per day or $15 per hour. Not bad for doing no work. But when money-making schemes seem too good to be true, they probably are. I worry that the driver would not have it back on time, which would negate my whole purpose for owning my own car—the sheer convenience. I would worry that people would spill things and try to hide it, only for me to discover much later. Finally, as the article suggests, what happens when someone gets into a fatal wreck and subsequent lawsuit—all in your vehicle? Are you responsible? Click here to read the full story about renting your car.