DriveMyCar has joined with RACV, Victoria’s largest member organisation, to allow more people to rent a better car for less money. Not already an RACV member? No problem, when you rent a car you will receive free RACV membership. Rent out your car with DriveMyCar
Did you know it’s possible to earn extra money from your car when you’re not using it? If you’ve got a car that you feel you don’t drive often enough, then you may as well make money from it by joining the private car rental revolution. Whether you want to make some extra income to put towards car repayments or to just put aside for a rainy day, you can do so with DriveMyCar.
As an owner, you’re in the driver’s seat. You choose how often you rent your out for; whether it’s for two days or a month is entirely up to you! Depending on what you choose to do, it’s possible to earn up to $1,000 per month.
Why rent my car out?
DriveMyCar is a smart way to earn money from your car when you’re not using it. Whether you’re going on a holiday, finding it difficult to sell your car or simply not using it enough, you can list it on DriveMyCar and have it make money for you.
We find verified and trustworthy renters, manage all payments, perform a credit check and obtain a security deposit. All payments from renters are collected by us and deposited straight into your bank account.
We also draw up a formal rental agreement with comprehensive terms and conditions so that both renters and owners are on the same page and understand their obligations. Your car is also covered by a DriveMyCar Motor Fleet Insurance policy during rental, giving you peace of mind.
Qualifying criteria
DriveMyCar aims to provide excellent vehicles to renters at affordable prices. To maintain the overall quality of the DriveMyCar fleet, vehicles must meet our minimum requirements.
Your car must be:
- Up to 15 years old car
- Less than 150,000 kilometres
- Pricing when new under $75,000
- Well maintained with up-to-date servicing
- Registered with appropriate CTP insurance
- Vehicle must be available for rental periods of at least seven consecutive days
Who can hire my car?
Because trust and security is paramount, every renter on DriveMyCar goes through a comprehensive verification process. Our aim is to create a community of trusted people, so they can all reap the rewards of car sharing. To reach this goal, we’ve created a range of features to make sure renting your car out is as safe and secure as possible.
We use PeerPass, an industry-leading identity, information and security product. This technology enables DriveMyCar to provide a safe and reliable environment for renters and owners.
For your peace of mind, every renter:
- Has their ID verified – their Australian driver’s licence, passport, and other government-issued documents.
- Undergoes a credit check before being given access to vehicles
- Has the opportunity to connect their social media accounts to their profile to further verify their identity and online presence
So if you’re wondering, ‘Who can hire my ride?’ Only renters who have passed our trust and verification process can.
You can earn at least $2,500 over 12 months. Guaranteed.
For a limited time, if you list your car and meet a few basic criteria you will earn at least $2,500 over 12 months. Guaranteed.
If you:
- Have a car less than 6 years old
- Live within 15km of of the Sydney CBD or 10km of Melbourne CBD
You could already be eligible for our $2,500 earning guarantee.
How much can I earn?
Earn between $350 and $1,750 per month... or more
We calculate the amount you earn from renting your car according to its market value. For example, if your car is worth $24,000 you could earn $840 per month or $10,080 per year, that’s a return of 42% if rented for a year.
Try the Rental Calculator below to see how much you can earn from your car.
Next Steps
List your car
Before you can start renting, you will first need to create a listing for your vehicle.
Renters want to drive cars that are ideally suited to their needs and are well-cared for. Use the car listing to ‘sell’ the advantages of your car and attract more renters. Cars with good-quality photos are more likely to receive rental requests, and be realistic about your pricing expectations.
Are you willing to deliver your car to the renter? Tell them where you are happy to deliver to. Do you want to offer extra free kilometres? Any special inclusions can be included on your car profile page.
Respond and manage your booking requests
Once your listing has passed all the necessary checks, your car will be listed and available to rent from DriveMyCar.com.au
When a renter is interested in renting your car you will be sent a booking request. You choose who you rent your car to, when to rent it, and for how much. You can view feedback about renters’ previous transactions to find out more about them.
Handover and Return
You've approved the booking, now what?
Once we have completed ID and credit checks and confirmed that payment has been received you can liaise with the renter to confirm a handover time and location. We provide a handover checklist and inspection report to record details of the condition of the car at the start and end of the rental. You are also encouraged to take photographs confirming the condition of the vehicle. Make sure your vehicle is cleaned before handover and has a full tank of fuel. The renter is also required to do the same at the time of return.
Servicing and registration
As the owner, you are responsible for maintaining your car, including tyres, and ensuring that it is regularly serviced and well-maintained. We can help arrange discounted servicing through our nationwide service agents. You are also responsible for ensuring that the vehicle registration and appropriate CTP is current.
Insurance for accident & theft
While your car is being rented it is covered by the DriveMyCar Motor Fleet Policy, which provides coverage for accidents and theft. The insurance cost is included in the price paid by the renter. In the event of an accident, we will help manage the claims process to get your car back on the road as quickly as possible.Full details of the policy can be found in the My Account section of the website.
LEARN MOREDon’t have time to handle customers, renters or paperwork? We can do it for you!
If you are going overseas or don't have time to hand over your car to renters, you can enrol in our Manage My Car service and we will look after your car for you. We conduct handovers with renters, arrange servicing and provide secure storage if your car is not being rented.
LEARN MORERoadside assistance
Your car is covered by 24/7 roadside assistance while it is being rented. You can rent out your car worry-free knowing that when it’s on the road, it’s still being looked after.
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