Content of the material
- The Basics
- Fees & Costs
- Unique Features
- Final Verdict: Our Choice
- What is Turo?
- How Turo Works
- Pros and Cons of Turo
- Pros of Turo
- Cons of Turo
- Turo’s cancellation policy is as follows:
- Tips For Renting Out Your Car
- The Basics
- Fees & Costs
- Unique Features
- Turo Basics
- What Is Turo?
- Reasons to Choose Turo
- Reasons to Skip Turo
- HyreCars Insurance
- Download courses and learn on the go
With hourly and daily car rentals available, Getaround is a convenient option for people who need to locate and rent a vehicle. Currently, Getaround is only available in select cities including Boston, Chicago, Los Angeles, Miami, Philadelphia, Portland, San Francisco, and Washington D.C. For the average renter, Getaround provides an easy experience.
Here are some of the basic things you need to know about Getaround:
- Rentals are offered daily or hourly.
- You use the Getaround app to locate and unlock the vehicle.
- There are no membership fees.
- Insurance fees are included in the rental costs.
To be eligible to rent a car with Getaround, renters must:
- Be 19 years of age or older. (For specialty cars like Tesla, you’ll need to be 25 or older.)
- Have no major violations in the last seven years, including alcohol- and drug-related incidences or reckless driving charges.
- Have no more than two driving violations or accidents in the past three years.
- If 21 or younger, have a completely clean driving record.
Individuals can browse a list of rentals using the Getaround app and filter them based on criteria. Once you’ve chosen a vehicle, you send a request to book the car. After the owner has approved your request, you can proceed to the pickup location and soon be on your way.
Fees & Costs
Most Getaround vehicles are priced by the hour and are available to renters for anywhere from one hour to several days or weeks. These rentals typically cost around $5-8 per hour with a 3 percent booking fee of the trip price. You must also pay for fuel and return the car with the same amount of fuel that it had when you picked it up.
Additional fees for renting with Getaround include:
- One-Time License Fee: A one-time license fee of $10 is required for a DMV check.
- First-Time Security Deposit: $150 deposit, which is held until the end of your first trip.
- Mileage Fee: A maximum of 200 miles/day is included with your rental price, with $.50 charged for every mile over this allotted mileage.
- Cancellation Fee: There is no fee if you cancel less than one hour after booking or more than 24 hours before your trip begins. Otherwise, the cancellation fee is 50 percent of the trip price.
- Late Return Fee: $50 per hour
- Fuel Replacement Fee: Cost of fuel + $15 fuel fee
- Tolls or Tickets: Cost of toll + $1.50 toll fee; Cost of citation + $25 citation fee
Drivers under the age of 25 are also required to pay fees to account for increased insurance costs. These fees vary based on age and can be anywhere from 75 percent to 5 percent of the trip price.
There are two unique features that set Getaround apart from other peer-to-peer car rental services: hourly car rentals and the ability to access vehicles through the app. While most services require the renter to pay a daily rate, Getaround allows renters to use the vehicle on an hourly basis, making it ideal for those who only need to rent a car for a short period of time.
Getaround also allows renters to access the vehicles they are renting using the Getaround app. Most other services require renters to meet the car owner and pick up the keys, which can be inconvenient if both parties can’t find an agreeable time and place. With Getaround, getting access to the vehicle is quick and simple with no need to coordinate schedules.
Final Verdict: Our Choice
Choosing between HyreCar and Turo comes down to what your overall purpose is.
HyreCar is your solution when you want to hire your car out to business-minded individuals who will turn around and earn incomes via Lyft, Uber, Postmates, or other such services.
If you think you’d rather stick to renting your vehicle out to people looking to take a weekend trip or use the car for other personal purposes, then Turo is your choice.
What is Turo?
Turo is a revolutionary car-sharing marketplace. Here, people can get comfortable rental cars from local owners in the US, UK, and Canada.
The company aims to make rental profits easy for car owners by eliminating the hassles involved with traditional car renting.
With Turo, it’s easy to sign up and begin the process. Along with that, the company ensures thorough renter scrutiny so that you know your car is in safe hands.
Here’s an overview of how Turo works for further insight.
How Turo Works
First of all, whether you want to rent out your car or want a rental car through Turo, you’ll need to be at least 21. If you fulfill the age requirement, you can sign up on the platform using your Google or Facebook account.
During the signing up process, the company asks for your identity verification and other essential details. After that, you can easily book a car for yourself by providing your travel and location specifications.
As an owner, you will get a notification when the company receives a request for your car. You will get up to eight hours to respond to the information.
Also, you can choose the meeting point if you don’t want the renter to reach your residence and hand your car over. This helps protect your privacy.
Turo rents its cars out on an hourly basis. The renter will have to specify the hours he’ll need your vehicle for. Believe it or not, the owner gets to set his rate for his car.
Most importantly, you can completely customize your owner profile. Along with setting an hourly rate for your car, you can set your mileage limits, and you can choose whether you’ll deliver your vehicle yourself, or have it collected.
You can even mark a certain distance radius where you can deliver easily. Also, you can charge renters for delivery.
Pros and Cons of Turo
Turo is a legit, accessible platform with a straightforward renting policy to ensure a reasonable profit rate for owners. However, there are some benefits and drawbacks to the platform that you should know before going for it.
Pros of Turo
- All types, from sports to luxury cars, are available
- Easy to find local renters and owners
- User intuitive website
Cons of Turo
- Insurance and security is not as efficient as traditional rental companies
- There are lots of hidden costs in the form of protection, gas, and delivery fees
Turo’s cancellation policy is as follows:
Turo offers either free refunds or a portion of the cost depending on how soon you cancel your rental after booking.
Tips For Renting Out Your Car
As you may already have learned, renting out your car can make you a tidy sum of cash.
Here are some more tips to ensure you maximize your profits while minimizing your risks.
- If you’re still paying for your car, talk to your lender first. You might have been interested in renting your car because it can help you make your car payments, but your lender might take issue with that and may even repossess your car. Clear your plans with them first.
- Invest in making your listing attractive. Take multiple photos of your (clean!) car from different angles, mention special features, and set a competitive price.
- Inspect and take photos of your car before and after every trip. In case your car gets into an accident or somehow damaged during a trip, it pays to have documentation. Your insurance company will ask for this as well as the car-sharing companies you’re working with. Make sure the entire exterior and interior are documented, from the condition of the tires and engine to the dashboard.
- Read through all the terms and conditions carefully. This should be an obvious thing, but this is worth drilling in: always read the fine print. No matter which car-sharing service you sign up with, you need to be fully informed about what you’re getting into. Most importantly, you need to be clear about what the coverage is in case your vehicle gets damaged, totaled, or stolen.
HyreCar is a peer-to-peer vehicle rental service designed specifically for Uber, Lyft, and other on-demand delivery drivers. With no contracts, sign-up fees, or waiting, HyreCar is an excellent option for rideshare drivers that don’t want to use their personal vehicle or those who don’t have a vehicle but want to make some extra cash as a driver for Uber or Lyft.
Renters who want to access a vehicle for rideshare services through HyreCar must:
- Be at least 21 years of age.
- Have a valid U.S. driver license and social security number with at least one year of driving experience.
- Have a good motor vehicle record with no recent accidents, no major violations in the last three years, and no more than two recent moving violations.
- Have a clean criminal record including no felonies, no violent crimes, no major theft, and no major substance abuse.
After you register with HyreCar, you must complete a background check before browsing and applying for cars in your area. Once you are approved for a rental, you will receive insurance in your name, registration in the car owner’s name, and an inspection form. Drivers will contact the car owner to arrange pick up.
Fees & Costs
There is no set price for HyreCar rental vehicles. However, prices typically range from $25-$40 per day. Drivers benefit from discounts on longer rentals, which typically go for about $200 per week. All rentals include insurance, which costs $10 per day. If you don’t use a credit card to rent the vehicle, then a $200 security deposit will be held on your debit card.
Unlike other peer-to-peer car rental services, HyreCar was designed with rideshare drivers in mind. One of the greatest benefits of HyreCar is the fixed costs. The company builds wear-and-tear costs into the rental price. This makes adding up total costs much easier for rideshare drivers than if they used their own vehicles.
HyreCar is also a very flexible service; you only pay for a vehicle when you need it. While other leasing programs through Uber and Lyft require minimum weekly payments, you can easily rent a vehicle on HyreCar for the day and return it if you don’t like driving it or need to take a break from rideshare services.
Now how does Turo differ?
Here is some basic information on Turo.
What Is Turo?
Unlike HyreCar, Turo car rental operates more like a traditional car rental company.
People renting your vehicle on Turo are typically using it for a weekend getaway or some other conventional reason for renting a car.
Related: How Does Turo Work for Car Renters and Hosts?
Reasons to Choose Turo
Turo is a popular peer-to-peer carsharing app.
Almost 15 million people already know about it and use it.
You have a built-in audience ready to rent your car.
You do not have to use Turo’s suggested rate.
The app allows you to select your desired rate to charge renters.
Three are five Turo insurance options.
These are liability insurance coverage plans offered via Liberty Mutual.
The company also does a background check on all drivers before they can rent from you.
Reasons to Skip Turo
Although Turo is available in over 5,500 cities throughout the United Kingdom, United States, and Canada, you can’t use it in New York.
You must choose to use Turo exclusively.
The company doesn’t allow you to rent with any other carsharing app.
HyreCar’s insurance policy for drivers is pretty straightforward and is included in the cost of the rental. It covers you when you’re driving your rental vehicle on the way to pick up, or after dropping off, passengers, but not when passengers are in the car. This is very similar to most ridesharing and delivery insurance policies. Here are the basics:
- HyreCar’s Insurance Coverage is only provided for the Driver while renting a vehicle through HyreCar. By renting a car through our platform, Driver’s agree to use the vehicle to drive for a TNC. The amount that the Driver is liable to pay out of their own pocket for Physical Damage (other than interior damage) for the rented car is contractually limited to a contingency fee up to $1,000.
- Insurance begins and ends at the start and end time of your rental. If you extend your rental, you’ll want to make sure your insurance coverage gets extended as well.
- Uber or Lyft’s own rideshare insurance policies override HyreCar’s policy when you have passengers in the car.
- Vehicle owners are required to have personal auto insurance at the state minimum.
For owners, HyreCar Protection provides a variety of coverage options through its insurance partner(s) to give Owner’s the flexibility to conveniently choose coverage levels they would like to receive while their vehicle(s) are rented out on the HyreCar platform. These plans include liability insurance, physical damage responsibility, and additional services like tickets and tolls.
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