A new iPhone application allows owners of car to share their car with others and potentially generate thousands of dollars each year in rental income.
The new peer-to-peer Getaround carpooling service aims to make use of the 250 million personal vehicles to the United States who are sitting the idling average of 22 hours each day. The company and its app allows owners of car to "a-idle" their cars and offset the cost of ownership of the vehicle by sharing with others.
For the service to work, users install a Getaround can in their vehicle that combines GPS, Wi - Fi and a remote technology without the key. The app then a allows users entire transactions, including booking, pay for and unlocking, cars with nothing else than their iPhone.
On average, homeowners can save about $2,000 each year for each hour a day their car is leased. Members can also rent someone's car for as little as $3 an hour and can keep per hour, day or week.
"Getaround frees the people the burden of the possession of a car by idling, expensive and assets underutilized into something that can generate income, and the Getaround can and smartphone technology safe and accessible to all carpool""," Getaround founder and CEO Sam Zaid said in a news release.
To help security, Getaround allows car owners maintain complete control over their cars by setting the price and availability. The owners also have the option to approve each lease application individually. They can also monitor and track the vehicle to ensure that the vehicle is used correctly.
In addition, cars are covered by insurance premium provided by Getaround and Berkshire Hathaway, so if something goes wrong, the insurance will cover it.
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