Is car sharing right for you and your vehicle?

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As our cities develop and the transport landscape changes, more of us are using public transport or ridesharing services to get where we want when we want, leaving our cars sitting unused! Already, our cars are used less than 5% of the time. Cars are expensive not only to run but to own too so, why not put this idle asset to work when you're not using it?

Listing your car on Yourdrive is a great way to make the most out of your car! You can use it whenever you need, however, it can be used by others, earning you cash, when it’d usually be sitting idle.

Yourdrive provides a safe and easy way to share your car with others. Insurance is included in all rentals so there’s no risk involved and all renters are background checked before being approved to rent. Additionally, our support team are there to assist the renter if anything goes wrong or if you have questions or concerns. You just sit back, relax and earn.

If you’ve got a car gathering dust and are interested in joining the car sharing community then work your way through the following questions to find out if car sharing is right for you!

 

How often do you use your car?

If you use your car daily, it’s unlikely there is much room other people to use it too! Yourdrive is perfect for spare cars that are only used occasionally or vehicles that are only used or a few days a week. 

If you're a heavy car user, consider how you could make your car more available. Get an understanding of transport options available to you and figure out how many of the car trips you make could be substituted for public transport (ie bus, train, ferry etc), shared transport (ie uber, zoomy etc), or active modes transport (ie cycling, walking etc). 

The Yourdrive platform has built-in tools to help owners manage their vehicle's availability easily. If you require the car yourself, simply block the period car is not available using the vehicle calendar.

 

Where do you live?

You can certainly find success on Yourdrive from any location, but you’re likely to get more bookings if you’re near a main city centre or transport hub. 

If you’re not in an easily accessible location, consider offering a drop off service (for an extra fee) to make your listing more attractive!

 

How available are you?

Most of our owners manage their vehicle listing in addition to working a full-time job but, they also tend to have some flexibility with their schedule. It takes some time and energy to respond to incoming enquiries and requests, coordinate and facilitate drop-offs and pick-ups, and get the vehicle in rental ready condition (clean, tidy and fueled).

Being available in the mornings and evenings of weekdays and weekends is sufficient but, you the more available you are, the more attractive your listing is.

The Yourdrive platform has built-in settings and tools to help owners manage their vehicle/s easily alongside their busy schedule. You can block off dates when you're not around using the vehicle calendar and set a minimum lead time for bookings in booking preferences. These will ensure you only get trip requests you can accommodate.

 

What type of vehicle do you have and what condition is it in?

Yourdrive has no requirements for vehicle age, make, model, mileage etc, however, it’s worth being mindful that mechanical faults are not covered under Yourdrive’s insurance and the likelihood of these increases with older and more heavily used vehicles.

Regardless of the vehicle specs, it’s important to keep the car in good condition so your renters are safe and comfortable. As a Yourdrive owner, you'll need to keep your vehicle clean and tidy, take it in for regular servicing, and stay on top of repairs.

 

How connected are you?

Are you the kind of person who is glued to their mobile phone? While it’d be unrealistic to expect owners to be available 24/7, being contactable for renters and able to respond quickly to booking requests and renter enquiries is important. Owners receive emails and txt messages notifying them of new requests, confirmed bookings, cancellations etc.

An owner's delay in response to booking requests is measured and factored into their rating which impacts listing attractiveness. 

 

Do you want to offset the costs of car ownership?

The costs of car ownership far exceed the purchase price but, it can be easy to lose track of exactly how much you're spending on your car!

The costs of car ownership are broken down into two types – fixed and variable.

Fixed costs are the costs that don’t change with vehicle use - you still pay these even while your vehicle is parked in the garage! These include: Car payments (+ any interest), Insurance, Registration, Warrant of Fitness, and Depreciation.

Variable costs reflect all the consumables associated with running a vehicle. These include: Fuel (annual mileage x fuel price), Tyres, Maintenance, Repairs, and Parking (daily cost x number of days). 

In addition to the costs related to your car, you're likely to have at least some spending on public transport (ie busses, trains, ferries etc), and shared transport services (ie uber, zoomy etc) so, factor these in too. 

Work out how much you spend on transport each year to get an idea of how much you'd like to make through car sharing to 'break even'. If your high car ownership related costs aren't worth the benefit you get from owning the vehicle, consider selling it and living a car-free life. Find out more about what this might look like and cost here

 

Hundreds of Kiwis are already safely sharing their cars through Yourdrive.
If you have a vehicle that sounds perfect for sharing, join the Yourdrive community to start earning.

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Posted by Kezia Lynch on 12th of October, 2018