Forget spending time finding a side gig or second job to earn extra cash: Your parked car can earn you passive income whenever you don’t need to drive it. Unlike those working in the gig economy for ridesharing companies, you don’t need to spend any time behind the wheel or interacting with third parties to earn money sharing your car. We’ll dig into how car sharing works, what you can expect to earn and how companies like Avail are making the process incredibly simple for car owners.
How much money can you make car sharing?
The amount of money you make sharing your car depends on several factors, including your car’s size, how long you’re able to share it and how often it’s booked during the sharing period. With Avail car sharing, you’ll earn $20 per day when your car is borrowed if you have a standard car, mid-size SUV or van. Those who share a large SUV will earn $25 per day.
So what if your vehicle isn’t borrowed during the period you list it to be shared? Avail pays out guaranteed earnings of $50 per week. Then, if your vehicle is borrowed more often than not, you’ll be able to make more than $50 per week of passive income.
There are other benefits to sharing as well. For example, your car gets to park for free in the Avail lot during its sharing period — a great perk for street parkers — and will be returned to you refueled, inspected and cleaned, both inside and out. Avail prescreens all drivers and protects your vehicle with Allstate insurance so you can sit back and earn worry-free.
5 reasons to share your car
If easy money isn’t convincing enough, here are a few additional reasons to consider car sharing as your source of passive income:
- No investment required. All you need is a car with an automatic transmission that’s less than 10 years old, has fewer than 125,000 miles and is free of visible damage or maintenance issues. Of course, there can’t be any open recalls on the vehicle, and you must have valid, up-to-date registration and insurance coverage that meets your state minimum requirement.
- No disruptions to your workday or routine. With car sharing, all you need to do is remove personal items from your vehicle and then drop it off with the keys. Your “work” stops there. Avail will take care of everything else, including bookings, key hand-off, cleaning, refueling, post-trip inspections and payouts. Avail uses a secure key box to facilitate key exchange between car owners and borrowers, so you never need to meet up with anyone in person to share your car.
- Car sharing happens on your schedule. If you’re staycationing, vacationing or just don’t need to drive for a week or more, then you can share your car and make money. You set the sharing schedule that works best for you.
- Quick payment. Avail will pay you after the end of each booking as soon as your car is returned. You can transfer your earnings to your bank account immediately or let it accumulate for one big payday. Payment potential is pretty transparent, so you’ll know what to expect each time your car is borrowed.
- Vehicle protection and customer support. When you leave your car with Avail, it’s safe. We take precautions to secure it from the inside out, such as equipping it with a monitoring device and protecting it with Allstate insurance coverage. You’ll also have access to 24/7 customer support should any questions arise.
How to share your car with Avail
Getting started is simple. First, verify your car’s eligibility. We have a few requirements your car must meet in order to be accepted for sharing. Once you confirm that your car meets our qualifications, you’ll need to create an account with Avail and answer some questions about your car to get it approved for sharing. Then, you’ll define your sharing details by selecting a location to list your car from, as well as start and end dates that span at least 5 consecutive days.
When your sharing period begins, you’ll just need to remove personal possessions from your car and drop it off with your keys at the Avail lot or garage you selected. Then just kick up your feet and get paid. How simple is that?