Rent your own car to earn additional income

If ever you needed to buy an everyday car but knew already it would only serve you from time to time…If you ever kept wondering if it was worth it, then the solution might be, first, to buy it, then to rent it to individuals. The question remains in which car to invest to make the best of its P2P rental? The choice of your vehicle will greatly affect the profitability of the rental. Do not panic, we tell you everything in this article…

WHY RENT YOUR OWN CAR?
First and foremost, it is legitimate to wonder if renting a car to private individuals is a good thing. The answer is absolutely! Owning a car is expensive, it is even the second largest household spending in most European countries. It is therefore a good thing to be able to reduce its costs by offering it to individuals so they can rent it when you don’t use it. If you are afraid that it could be damaged do not panic since, for instance, and like most websites specialized in private car hire, drivy.co.uk has its own insurance that covers potential risks and expenses. As a bonus you will make beautiful encounters as well!

THE BEST VALUE FOR MONEY CAR
To optimize your private car rental, forget about the 16-valve Subaru that’s making you crazy. Without a doubt, it is the small city cars that represent the best value for money. These are the most requested cars; they represent 60% of peer to peer rentals. You will have no trouble finding a good second-hand vehicle, one that’s not too expensive and that will get rented very easily. By second-hand car, we mean a small city vehicle that has no more than 70 000 km on the counter, is in good condition and costs about 6 000 €. We know of many who wanted to sell their cars but rented them instead. These vehicles have already made them more money than if they had sold them and continue to do so.

GASOLINE OR DIESEL?
It’s well-known that beyond 15 000 km per year it is better to choose a diesel car. It was true until not long ago, but the trend is changing. There are several reasons for this: the price of gasoline is rather low, the new petrol engines are becoming more economical, the ecological impact of diesel and the possibility of a revaluation of the diesel price. In addition, the low operating cost and the lower purchase price represent a real interest.

A guide to private car rental
Steps for renting out your own car