RelayRides blogger Amanda L. Grossman sheds light on the biggest mistake that car owners make that is costing them money every month.
The role that cars play in our lives has changed dramatically since the 1950s. For starters, Americans are commuting today more than they ever used to. Cars have become almost a second home to some who may spend 3+ hours per day in one. Another big change to car ownership has been the increase in costs involved. It costs a lot more now to purchase a car, maintain it through repairs (which are ever-increasing due to high commute times), and to keep it legal through registrations and testing.
Just as the role of cars in our lives has changed, so should the rules of traditional car ownership. No longer do you need to shoulder the entire cost of a vehicle that sits idle 92% of the time. And car-sharing/public transportation has become a reprieve for people stuck in long commutes (at least you can sleep and read, right?).
Not taking advantage of this new car-sharing economy by renting out idle vehicles is, quite honestly, the biggest mistake that car owners are making. Given all this I have to ask you: why are you still not renting your vehicle out?
Make Cash on an Idle, Depreciating Asset
Maybe you’re unaware of the asset that you have sitting in your driveway. Yes, it’s depreciating in value each day, from when you drove it off the car lot, to long after it’s paid off. But you can mitigate that. With the sharing economy, you can actually make up some of the costs of your car ownership as well as some of the value you’ve lost by renting it out on RelayRides.com. Renters average $250/month, which could help you pay your car loan off early, or could fund a passion of yours.
Protect Yourself and Your Asset
Not only does RelayRides screen each potential renter of your vehicle before the person gets to you – including a look into driving history and other verifications – but you also can approve/deny rental requests at will. On top of this, you’re protected against physical damage up to the actual cash value of your vehicle with RelayRides’ $1,000,000 liability insurance policy that is in effect during each rental period of your car.
Decrease the Environmental Impact of a Commuting Nation
Commuting has gotten out of control in the United States. Not only does it take a toll on the drivers who lose precious time of their lives to driving the same highway strip 5 days a week, but it also adds a lot of smog to cities and surrounding areas. By offering your vehicle for rent to peers as a form of alternative transportation, you are keeping unnecessary cars off the road. According to the Federal Highway Administration, the number of vehicles on the road has been increasing by an estimated 3.69 million each year since 1960. The less vehicles being purchased, the less smog will occur because of a decrease in traffic. Also, people who car share tend to use public transportation, so you are making this a continuing, viable option for them. So, what are you waiting for? Set up an account today with RelayRides!