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Peer-to-Peer Car Sharing Services Reviewed: RelayRides and Getaround

Known by a variety of different names, such as car sharing or neighbourhood car sharing, peer-to-peer car sharing is a relatively new concept. If you have an idle car sitting on your drive and would like to earn some extra cash, or if you'd like to hire a car in your neighbourhood for a fraction of the cost that you'd be charged at your local rental agency, RelayRides and Getaround have a solution for you. RelayRides is ideally suited to owners wishing to make a few extra dollars each month, but who would prefer to keep their car parked on their drive between rentals. RelayRides has a much wider network of cars available than Getaround and is a good solution for those that travel often, or need to travel out of state or further (i.e. Canada). Getaround is a good choice for owners looking to make serious money, as their cars will be moved by Getaround operatives to a popular spot in town for maximum business. Getaround also provides excellent security measures in the form of their driver vetting services and its free carkit, which owners can opt to have installed.
Covered in this report
RelayRides is a company that offers peer-to-peer car rentals and sharing services. The website invites car owners to have their car rented by others through their website. The website encourages users to have their cars rented for a short time. The car owners can set their prices on how much they wa... read more...
⌊ Best coupon: Get $10 off your first rental
Ask a question about RelayRides
View 1 coupons for RelayRides
RelayRides overview on Knoji
RelayRides — Best Features
Nationwide database of cars and renters are able to travel out of state
Owners can hire their car out for as much or as little time as they wish
Best for: Renters looking to book a car immediately and owners who wish to choose where their car can be hired from
Best deal: Get $10 off your first rental - [activate coupon]
Getaround provides a peer-to-peer car-sharing marketplace that enables car owners to rent their cars to other people who needs those cars for specific reasons on a daily or hourly basis. They enable car owners to rent out their underutilized vehicles to a community of trusted drivers. Some of the c... read more...
⌊ Best coupon: $25 Off First Rental
Ask a question about Getaround
View 1 coupons for Getaround
Getaround overview on Knoji
Getaround — Best Features
Free Carkit can be installed offering keyless entry and remote engine immobilization
Cars can be rented via iPhone, without the hassles of lines and paperwork
Best for: Owners serious about hiring their cars out for six months or more and who'd like to make in excess of $300 per month
Best deal: $25 Off First Rental - [activate coupon]
Review

I Want to Rent My Car Out - How Does it Work?

RelayRides Owners:

At RelayRides you can list your car online in a matter of minutes. All that is required is a brief description and a few photographs. When potential reservation requests for your vehicle become available, RelayRides will send an email or SMS and they will provide information that can help you to decide whether to accept or refuse the rental. Potential rental customers have their telephone number vetted and will not have any major violations on their record or more than 2 minor violations in the past 3 years.  Owners are encouraged to ask for Facebook or LinkedIn profiles, so they can get an idea of who they are doing business with. Customers who have used RelayRides before will have a ‘rental profile’ and a rating, which can give owners a bit more reassurance.

Owners are encouraged to meet the renter before the hire, to check their ID and hand over the car keys. Owners can also pay to have a device enabled car, such as ‘OnStar’ which means that the keys can be left in the car and it can only be unlocked via a mobile app – there are added benefits to this such as theft protection and remote engine shutdown. 

RelayRides Renters:

RelayRides has thousands of cars on its website for renters to browse through, with a useful search facility that filters car by type, features and previous rental feedback. When it’s time for you to pick up your rental, you either meet the owner who will hand over the keys or unlock the door via mobile app if there’s one installed. No additional insurance is needed and RelayRides provides 24/7 roadside assistance if the worst should happen. Renters are required to replace all the fuel they’ve used at the end of their trip and that’s all there is to it!

Getaround Owners

At Getaround, owners also have a quick sign-up process and requests for car rentals are sent via email and SMS.  These can be approved or denied by the owner once their insurance policy number, vehicle identification number and 4 photos of their vehicle have been uploaded. Rental customers are vetted by the DMV or their driver record and this is cross networked through social sites such as Facebook or the Credit Bureau for security. Owners can opt to have a free ‘Carkit’ installed in their vehicle for extra security, which will enable remote access without keys, GPS tracking, tamper detection and the option of an engine immobilizer.

Getaround Renters

Getaround have an easy search facility for renters which enables them to filter through cars by location, type, features, and body style. Some owners provide a quick response rate on their vehicle, which increases the chance of a successful rental. Getaway differs to RelayRides, in that it uses a ‘request’ based system and renters can request up to 5 cars at once, in the hopes of achieving a rental. The first owner to accept the rental request will win the business. This means that when the renter pays his/her fee, they face more uncertainty to the outcome of their rental. Getaway does have a facility which allows for instant rentals, but on a much reduced scale. 

Verdict? 

Whilst RelayRides have a wider network of cars available, making them a better choice for renters, Getaround have more impressive vetting facilities and a free carkit, which means their security measures/devices are better for owners. 

Pros and Cons

RelayRides Pros:

  • Owners can earn up to $1000 per month
  • Insurance is included for rentals ($1,000,000 liability policy)
  • Owners can name their hourly hire price and vet potential customers (Driver record check and credit card screening provided)
  • Owners choose when their car can be hired and approve/deny each request
  • Renters can book and confirm their first choice of car easily
  • Membership is free
  • Monthly payment for owners by cheque
  • Owners get 60% of what renters pay
  • Around the clock customer support available
  • Rating system for hirers provides future owners with valuable information
  • Nationwide network of cars
  • Availability response often within 3 hours or less
  • Can sign up with Facebook
  • Convenient – renters can find a car that’s within walking distance in their neighbourhood

Cons:

  • Income from rentals may be taxable
  • Owners need to verify themselves via a cell phone
  • Owners need vehicles registered on or after 1990 and have less than 120,000 miles
  • Cars which have a market value of over $50,000 are not acceptable
  • Need to be over 21 to participate
  • Owners need to buy cars with ‘OnStar’ installed for keyless rental and additional safety features

Getaway Pros:

  • Owners have a dedicated contact for customer service
  • Owners can name their hourly price
  • A $1000 guarantee for net earnings at the end of your first 3 months (limited offer)
  • A++ Insurance through Berkshire Hathaway is included to the value of $1,000,000
  • Car can be outfitted with a free ‘Carkit’ containing GPS usage tracking, tamper detection and an optional engine immobilization feature
  • All cars that are fitted with the Carkit have the Getaround iPhone app, which means owners do not need to hand over their keys
  • Getaway inspect and clean your car every two weeks – they also help facilitate maintenance issues
  • Monthly payment by check or PayPal, which includes an activity report showing revenues and expenses
  • Each renter is vetted by the DMV or their driving record and this is crossed checked through social identity sites such as Facebook, the credit bureau and an additional 16 points of reference if needed
  • 24/7 Roadside assistance is provided by the National Automobile Club
  • Rating system for renters
  • Cars can be rented via iPhone

Cons:

  • Website not as easy to navigate as RelayRides
  • Car needs to be available for a minimum of 6 months
  • Your car doesn’t remain in your drive but is picked up and moved to a central location
  • Cars listed on Getaway have to be registered in 1995 or newer and have less than 150,000 miles
  • Cars which have a market value of over $50,000 are not acceptable
  • Vehicles must be registered in California, Oregon, Texas, or Illinois
  • Cars may not be driven out of state unless they have the consent of the owner and Getaround
  • Income may be taxable
  • Need to be over 19 to participate

Verdict? Whilst the Getaround website is not as easy to navigate as RelayRides and information can be hard to come by, Getaround do offer a great number of services for the owner who wants their car to be hired out and provide a serious second income. As Getaround is still in Beta mode, it isn't widely available yet, but given time Getaround will be a serious contender  in the car sharing market. 

Rental Fees – How Much Can I Earn?

RelayRides:

  • Owners earn 60% of the reservation fee
  • 100% with regards to excess mileage charges
  • 50% of any fines that are levied against your vehicle in respect of policy violation such as smoking, late return etc
  • Towing fees, parking tickets or fines will be reimbursed in full 

Getaround:

  • Owners earn 60% of the rental fee they set
  • Renters are responsible for all toll payments, parking tickets and traffic violation fines
  • If renters fail to fill the gas tank to the level before rental, they will incur a gas fee

The Verdict? Whilst there appears to be more potential for earnings at RelayRides, owners stand to make more money using Getaround due to the fact that they move their car to a central location.The fact that RelayRides have expanded nationwide, however, will make them appeal to a broader market. 

Insurance – Are You Covered?

Owners

RelayRides insure your car for up to $1,000,000 under a liability insurance policy that protects owners against claims from third parties for either injury or property damage. Your car is also protected against physical damage, losses in the case of collisions as well as fire and theft.

The Getaround insurance policy is set to match the coverage provided by the owners insurance and it begins at a minimum of $105,000 up to a maximum of $1,000,000. Owners are protected against collision damage, theft, fire, vandalism, weather damage and any other damage that may happen to the vehicle in case of an accident.

Renters

RelayRides provide supplemental insurance for renters in the form of $300,000 liability cover as well as secondary comprehensive/collision coverage up to the cash value of the vehicle. Providing renters haven’t violated the terms of use or engaged in prohibitive uses (i.e. Smoking) they are only liable for $500 ‘out of pocket’ expenses once their personal insurance source has been exhausted. RelayRides will also provide an attorney to represent both owners and renters in connection with third party liability claims.

At Getaway, renters have a $500 deductible excess and are obliged to pay for any minor damage that may occur during the rental. If it is found that renters are uninsured or underinsured they provide limits of $30,000 per person and $60,000 per accident.

  • In Oregon and Texas PIP mandatory insurance is provided
  • Medical payments coverage arising from car accidents is also covered to a maximum of $1,000
  • Personal belongings are not covered

The Verdict? This battle is won by RelayRides as they offer impressive supplemental insurance to renters and also have nationwide coverage which includes driving within Canada.

Conclusion

If you're an owner and you're lucky enough to live in one of Getaround's operating states, then you stand to make more money using their services - providing you're willing to give up your car for 6 months of the year. For the owner looking to rent their car out infrequently (i.e. weekends only) and renters looking for more options and choice throughout the U.S. then RelayRides offer a better solution.

Additional Information
RelayRides
RelayRides Coupon: Get $10 off your first rental - Activate
RelayRides Coupon Code: 26738RF2S04 - $10 Driving Credit for New Renters - Activate
Getaround
Getaround Coupon Code: FIRST - $25 Off First Rental - Activate
Getaround Coupon: Current Promotions - Check Site
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I think Getaround is better for owners.

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