Getaround : Rent your car, make money, be happy [app]

Getaround iPhone app makes renting your car easier and convenient. Best thing is, you can make money out of it.

In the lifetime of a private car, even if is driven for 3 hours a day, the car is sitting idle for 21 hours of the day. Which means it is being used only for 13% of the time. If extrapolate it for a year, that percentage would come further down. One pay a large tranche of money for an object which is used only 10% of the time. In addition to the huge upfront payment in buying the car, it sucks out a lot of money throughout its lifecycle. Is there a way out of this? Not buying a car is always the best option but we might have the second best option for you – Getaround.

Getaround is a car-sharing service which will allow you to make money out of your car’s idle time, which is like 90%. With a getaround car kit installed in your car, and an app on your iPhone, the p2p car rental awkwardness can be handled seamlessly. All with just your smartphone. Getaround car kit combines GPS+WiFi+keyless remote technology.

Owners, at all times, will have complete control over the car. They will set the pricing and availability. They can also track the cars location and usage. The cars will be covered by Getaround’s insurance. One of the biggest fears in renting out cars to strangers is the potential abuse. With an additional insurance coverage, the fears will be appeased but not completely gone. People renting out Tesla Roadster’s on Getaround should hardly come as a surprise.

A prominent factor in getting any radical idea getting off the ground is to assuage people’s fears about temporary parting with their personal things. With the car kit, additional insurance and the iPhone app, Getaround has gotten around all the hygiene factors. No wonder it has won the TechCrunch Disrupt award.

There is a silent yet strong movement to move towards a renting economy, an anti-thesis for the ownership economy. From empty space in your home to your car, renting seems to be an excellent choice. AirBnB which roped in Ashton Kutcher as its recent investors has taken p2p rentals to new heights. Getaround is a logical extension and probably a much needed one. If someone has dared to rent a living space to  a stranger, they wouldn’t mind renting their car out. After all, the place you live is more personal than the car you drive.

Now your car could really be an asset. Don’t just own it. Rent it.

Links : iTunes app | Getaround | Image