How to make $7k from your car: A Yourdrive user story

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We caught up with Yourdrive owner Cameron Wislang to find out how he's using Yourdrive as a platform to earn money by renting out his car.

When he first discovered Yourdrive, Cameron, 21, owned an ‘old dunger of a car’. He wanted to list it on the site, but wasn’t sure anyone would want to rent it, so he didn’t at first.

Fast-forward a year, and Cameron teamed up with a friend (ironically his friend doesn’t even drive, let alone hold a driver’s licence) to invest in a Nissan Wingroad for the sole purpose of earning money off the asset through listing it on Yourdrive.

They thought a station wagon would be in hot demand for road trips, and they were right. Since listing their wagon for rent, they’ve been making on average, $140/week. Cameron says they’ve nearly paid off the purchase price of the car (5K) and are on track to make over $7,200 a year from renting it out full-time on the platform.

The goal: Cameron and his wife are saving towards their first home, and the profit he makes from renting the car through Yourdrive will go towards the deposit.

“I have a separate account for money I make from the car to go into and build up over time. It’s one of the accounts I will use come time to buy,” says Cameron, who hopes to be a home owner by this time next year. 

Cameron has also used Yourdrive as a renter – he’s booked a variety of vehicles for different occasions, including road trips and also as extra cars for guests in Auckland for his wedding.

And the rewards of using Yourdrive don’t stop there. Cameron enjoys meeting people and getting positive feedback about the exchanges.

“People that have rented the car off me are so lovely. They are like-minded, they understand how the sharing community works – they get a deal and are happy with it. Most of the time our car gets rented to middle aged people, families and travellers from overseas.”

Cameron, who’s originally from Wellington, says while his standard arrangement is that renters meet him at his house in the Auckland suburb of Avondale to collect the keys and car, he’s been happy to meet them at the airport if they are looking for collection on arrival.

“Yourdrive covers insurance so I have nothing to worry about. The longest period the car’s been rented to one person was for six weeks straight. Others use it for shorter periods – once a family, who don’t own a car, rented it off me for two days to take one of their kids to a rugby tournament.”

Cameron owns another ‘city’ car which he uses to zip around Auckland and at times when he needs an extra vehicle for himself, his wife, family or friends he simply blocks out the car’s availability on Yourdrive.

You can check out Cameron's car on the site here.

If you've got a car that you'd like to rent out on Yourdrive, you can list it here.

Posted by Andrew Ford on 9th of January, 2018