Sharing cars with friends and neighbours, also referred to as ‘peer-to-peer rental’ is now easier than ever, supported by new insurance products together with apps and websites where individuals can list their cars as available to hire when not in use. As well as benefiting the person hiring the car with access to transport, the car owner will receive a fee for lending their car which covers the costs incurred during the hire but can also act as a source of extra income – think of it as an ‘AirBnB’ service for cars.
Technology now allows identity verification and car condition checks through your phone so that both the car owner and renter can feel comfortable in the knowledge that the process is safe and reliable and can also make use of keyless access to unlock the car meaning the owner doesn’t have to lift a finger. For further reassurance, some apps can now monitor how the car is being driven in terms of speed and smoothness to encourage good renter behaviour while fully comprehensive insurance and breakdown cover tend to be offered as standard, providing peace of mind to both the owner and renter.
Listings of car share operators in the local area can be found through the below CoMoUK website: