Australia’s first and largest peer-to-peer car rental service, DriveMyCar, has called an end to the white hatchbacks plaguing city streets, today unveiling a revamped website that allows car renters to choose from a Fiat 500 to a BMW X5 at up to half the cost of traditional car rental.
DriveMyCar is the successful sharing economy platform that allows individuals and companies to rent out their own cars for anywhere between 7 and 365 days. Car owners have made more than $4.3 million renting their cars to other people through the platform, providing car rentals that are far cheaper for travellers, workers or anyone who needs a car for a week or more.
DriveMyCar (formerly DriveMyCar Rentals) officially relaunched today with a new website and name, making it easier for people to rent cars in three simple steps, on any device, while offering a better ratings and review system for car owners and renters.
Since 2010, DriveMyCar’s peer-to-peer platform has facilitated more than 4000 rentals, and today has a fleet of more than 300 cars and nearly 11,000 renters using the platform.
Cars can be rented on DriveMyCar for as low as $23.10 per day, with an average cost of $37 per day, covering a diverse fleet of cars that range from a Hyundai Elantra to a Mercedes C200 or BMW Z4.
Because DriveMyCar doesn’t have a car fleet of its own, it is up to 62 per cent cheaper than traditional car rental firms. Those in need of a car for the long term can save significant money or even trade up from a hatchback to a luxury sedan or sportscar.
“We’ve seen the sharing economy really begin to thrive in recent years, with services that allow people to rent out their homes, their driveways, their tools or their time and skills,” said Chris Noone, CEO of DriveMyCar.
“DriveMyCar is the sharing marketplace for the thousands of second or third cars that sit in driveways for weeks or months at a time. We have owners who go on long-term travels and choose to rent their cars through us instead of selling them, giving them an income to help fund their travel and save the hassle of buying car when they return.”
With 35 per cent of all Sydney households having two cars, there are a significant number of households across Australia that have more cars than they need. DriveMyCar allows people to offset some or all of the fixed costs of owning their car, or simply make some extra cash when they’re not it.
Jeff Folland, a Sydney resident, has used DriveMyCar Rentals for nearly five years to rent out multiple cars, making between $800 and $1100 per month.
“I have complete peace of mind knowing my car is in safe hands and that it’s going to come back in great condition,” he said. “I’m a motoring enthusiast, so at one point I had four cars in my garage. Since I had the cars listed on Drive My Car Rentals, I was still able to enjoy driving them around when they weren’t rented out, and keep up with my car repayments at the same time.
“I’ve had a whole range of people from all walks of life rent out my cars — anyone from international students who are here for a short period of time and don’t want to buy a car, to a gentleman who needed a transition car while he waited for his Porsche to get shipped from overseas.”