HyreCar Audit 2021: How Much You Can Earn Renting Your Car?

During the last year, the HyreCar project has made great progress. We’ve released the first version of our platform, which allows you to rent your car out to others. In this post, we will analyse the price of rental car in cities all around the world, and also show how you can earn money renting out your car.

In the 21st century, the automobile is becoming more of a luxury item. Fewer and fewer people own cars, and those who do own them rarely drive them. In fact, some analysts predict that within the next 50 years, the average age of a car owner will be 60.

Hyrecar lets you rent your car to delivery drivers through Lyft, Uber, and other platforms. You can put your car up for sale and arrange rentals to earn up to $12,000 a year. Hyrecar also offers car owners up to $25,000 in insurance coverage.

For

• Earn up to $12,000 a year.
• Flexibility in rental planning
• Payments within 2 or 3 days
• Insurance coverage up to $25,000

Cons

• High competitiveness
• Do you need a pick up and drop off contact

The best delivery driver jobs

Doordash

DoorDash gives you the ability to keep 100% of your customers’ tips.

You have the freedom to choose the orders you want to take.

Instacart

Earn up to $20 per hour (no minimum hours required)

Bonus: You can earn $3 for each 5-star award.

Weekly payments – plus immediate payment options

Postmates

Work to your own schedule – use your day as you see fit.

Earn at least $4 per order, plus tips from customers.

Earn up to $1,500 per week without much experience.

What is HyreCar?

Hyrecar is a marketplace for car sharing. The goal is to help local car owners generate additional income. The principle of the platform is simple. You can rent out your personal car to drivers like Uber, Lyft and delivery drivers.

The platform has been around since 2014, and although it is based in Los Angeles, it operates in 50 states. Hyrecar has built a solid reputation in the industry since its inception. This includes an excellent rating on the Trustpilot website.

How can I earn money with HyreCar?

HyreCar strives to make the car rental process as simple as possible.

Step 1 – Create a list

The first step to making money with Hyrecar is to create an ad for your car. As with any platform, you need to have an attractive ad that stands out in the crowd.

It’s worth taking the time to build a good list. This includes creating a solid description and high quality photos.

To create an advertisement, you must specify the following:

• Basic information about your vehicle
• your address
• Confirmation of registration
• Proof of valid insurance
• Your rental price
• A 19-point inspection – which your mechanic can perform on-site to document the safety of your vehicle.

The more information you provide, the better your chances of attracting potential tenants.

Step 2- Select security plan

Hyrecar offers several levels of protection to give vehicle owners peace of mind. The amount of coverage you choose will affect your potential earnings.

There is a premium protection plan and a basic protection plan. Under the basic plan, you get $25,000 for property damage. In addition, all drivers must return the vehicle with a full tank of gasoline.

Step 3- Rent a car

Once you are approved as a Hyrecar owner, you should begin to take an interest in your car. You need to get your car ready for a rental.

Your vehicle should be clean and well maintained to minimize the risk of negative comments. You should also take photos of the exterior, interior and mileage of your car.

You can record mileage allowances for rentals. The preset maximum is 250 miles per day. Hyrecar provides protection if the driver exceeds the maximum mileage. Drivers are charged $0.25 per mile over the established limit.

Once you have found a driver who is happy with the rental, you can meet up with him and hand over the keys.

Step 4 – Collect and pay

When the driver returns the vehicle, he or she should check it for signs of damage. You can then confirm the disembarkation and the rental period ends.

Hyrecar generally schedules payments within two to three business days of the end of the rental agreement. You can also track sales and deferred payments on the website or app through the owner’s dashboard.

How much do you earn at HyreCar?

According to Hyrecar reports, most car owners on the platform earn up to $12,000 a year. Your exact earnings depend on your vehicle.

Remember, you can save between 75% and 85% on the cost of your booking, depending on the type of coverage you choose.

What are the requirements for HyreCar?

Since most vehicles are used for Lyft, Uber and other delivery services, requirements may vary.

General:

• The vehicle must be less than 15 years old
• Have four doors
• Passing a vehicle inspection
• No cosmetic damage.

How does the HyreCar insurance work?

Hyrecar offers drivers insurance, but through a third party insurer. If you find any damage to the Vehicle after the rental, you must report it to Hyrecar.

The driver is obliged to report any damage. However, if the driver has not reported the damage, you have up to 24 hours after the vehicle is returned to you to file a claim for the rental period.

Once you have submitted your claim, Hyrecar will assign a representative to handle your case and guide you through the claim process. It usually takes two to eight weeks to investigate the claims and reach a settlement.

How do I register for HyreCar?

You can register for free as a car owner. You can post an ad for a car for sale and it only takes a few minutes. When you get to the site, you will be asked to describe your vehicle and upload some documents for verification.

These include:

• Vehicle registration
• Driving Licence
• Car Insurance
• Clean photos of the interior and exterior of the vehicle
• 19-point control

It is important to describe your car correctly and to use high quality photos of the vehicle.

HyreCar eligible costs

In addition to HyreCar’s commission, there are other costs to consider.

You should think about the wear and tear on your vehicle. Depreciation is higher because your car has more miles on the clock.

You will still have to pay all of your car expenses, as usual, including insurance, maintenance, inspections, etc.

How can I earn more with HyreCar?

Tip 1- Create an attractive profile

If you want to attract tenants, you need to show the best profile. Be sure to use high-quality photos and a short, simple description that explains exactly why drivers should rent your car.

Tip 2 – Check the local market

If you want to position your vehicle to attract Hyrecar drivers, you need to research your local market. You should not price your vehicle too high, or you may not realize until a few weeks later that you made a mistake and lost customers.

Tip 3- Network

Hyrecar is very competitive, but that doesn’t mean you have to treat other owners like lapdogs. In fact, many owners have a sense of camaraderie. So you may be pleasantly surprised when you contact owners who have a large number of bookings. They can give you advice on how to earn more.

Tip 4- Keep your vehicle in order

Make it a habit to keep your vehicle in good condition and clean. You’ve probably tried to make your car look as good as possible for your profile pictures, so you don’t want drivers to be disappointed when they take delivery of it.

Tip 5- Build relationships

While no one expects Hyrecar drivers to be best friends, you can connect with them.

Introduce yourself and tell about your expectations. This will ensure that both you and the driver are satisfied before the rental agreement is made.

Advantages and disadvantages of HyreCar

Professional

• Flexibility: You can determine the hours your car is available for rental and when you need it.
• Defense: The Hyrecar policy for drivers covers vehicle damage up to $25,000 and liability up to $300,000.
• Excellent customer service: Support is readily available and of a high standard.

Cons

• Arrangements for pick-up and drop-off : As the owner, you must coordinate arrival and departure. This can be tricky because you have to be there for each of them.
• Strong competition: Hyrecar is a very competitive market. So you need an ad that stands out in the crowd to generate interest.
• Questionable comments on Hyrecar: Some complaints and reviews about Hyrecar report problems such as cars being damaged or stolen after ads are placed. Fortunately, this is the exception rather than the rule.

HyreCar alternatives

HyreCar vs Turo

The main difference between Hyrecar and Turo is that Turo offers more protection. It provides coverage up to $125,000. However, you must give the distribution center a larger share of the rent (up to 40%).

Another big difference is that Hyrecar is more focused on drivers who want to earn an income. That way, your vehicle is used for deliveries and not for speeding around town.

HyreCar vs Fair

The show can only be seen in major cities in the US. In addition, it is usually higher for long-term rentals. This platform is also available at local car dealers. It is possible to rent a car as a private person, but it is not as easy as with Hyrecar.

HyreCar vs Getaround

The main difference between Hyrecar and Getaround is that Getaround has developed its own technology. Getaround Connect allows renters to unlock the car from their phone, so you don’t have to arrange a pickup in person.

However, this comes at a price. The startup cost is $99, and you have to pay $20 per month for a subscription.

Brief description

• Make money when you are not using your vehicle.
• Set your own rules for the framework
• Create a passive income
• Offers impressive insurance coverage

Is it worthwhile renting a car from HyreCar?

If you’re looking for a way to generate extra income and your car is sitting in your driveway most of the week, Hyrecar might be a good option.

Of course, before you make a decision, you should carefully consider your insurance options and potential rental costs.{“@context”:”https://schema.org”,”@type”:”FAQPage”,”mainEntity”:[{“@type”:”Question”,”name”:”How much can you make renting your car on HyreCar?”,”acceptedAnswer”:{“@type”:”Answer”,”text”:” HyreCar is a peer-to-peer car rental marketplace. We provide a platform to connect car owners with people who need a car. The car owners are paid for their time and effort, and the people who need a car are able to find a car for a fraction of the cost.”}},{“@type”:”Question”,”name”:”How does HyreCar make money?”,”acceptedAnswer”:{“@type”:”Answer”,”text”:” HyreCar is a peer-to-peer marketplace that connects car owners with people who need rides. HyreCar charges a commission on each ride.”}},{“@type”:”Question”,”name”:”How long does it take to get approved for HyreCar?”,”acceptedAnswer”:{“@type”:”Answer”,”text”:” It takes about 2-3 weeks to get approved for HyreCar.”}}]}

Frequently Asked Questions

How much can you make renting your car on HyreCar?

HyreCar is a peer-to-peer car rental marketplace. We provide a platform to connect car owners with people who need a car. The car owners are paid for their time and effort, and the people who need a car are able to find a car for a fraction of the cost.

How does HyreCar make money?

HyreCar is a peer-to-peer marketplace that connects car owners with people who need rides. HyreCar charges a commission on each ride.

How long does it take to get approved for HyreCar?

It takes about 2-3 weeks to get approved for HyreCar.