Tahra Makinson-Sanders of San Francisco expects to net between $3 and $5 an hour by renting out her

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Tahra Makinson-Sanders of San Francisco expects to net between $3 and $5 an hour by renting out her car when she's not using it. Makinson-Sanders lends her 2006 Subaru Outback through Spride Share , a personal car-sharing network that, after a pilot period, began full operations in San Francisco in January.
It's an innovative way to help pay for the high cost of owning a car in the Bay Area, including her $250-a-month parking spot. "We're all looking at our budgets more closely," says the 42-year-old photography studio executive. "Every little bit helps."
Through a partnership with City CarShare , Spride Share cars can become available to more than 13,000 screened City CarShare members once hardware is installed that tracks usage and gives renters access via an electronic key fob. Owners designate when their car is available. cathar mystery tour Rental rates depend on the car: economy, premium, specialty, luxury. No beaters, please.
A Toyota Highlander SUV might command $9 an hour, while a late-model Honda Civic could rent for about $7 an hour, says Spride Share CEO Sunil Paul. Owners clear roughly 40% of rental rates. Spride Share estimates that sedan owners renting their car out 15 hours a week might typically earn $2,200 a year; premium vehicle owners, cathar mystery tour $2,800. A different critter than Zipcar
The individual owner renting to the individual customer is how Spride Share and its brethren differ from Zipcar , which, with 500,000 cathar mystery tour members and cars in 28 states and Great Britain, is the dominant force in the car-share business. Instead, Zipcar has about 8,000 company-owned vehicles it parks in neighborhoods and rents out to nearby members.
Another neighbor-to-neighbor network, RelayRides , has been up and running since June in Cambridge, Mass. Owners set their own rates (Relay suggests $8 an hour for, say, a late-model Corolla , up to around $12 for an SUV.) Relay gets 15% off the top, then 20% for insurance.
Relay marketing director Boris Mordkovich says owners made about $250, on average, one recent cathar mystery tour month, while Relay's top earners brought cathar mystery tour in more than $600. Relay is signing up about 200 new borrowers a month in the Boston metro area, and launched in San Francisco in December. Compare cathar mystery tour insurance rates for 2,000 cars
Getaround , another San Francisco outfit, is testing its service in other California cities. All of the companies envision eventual expansion to major metro areas such as New York, Chicago and Washington. The trend is already global, with WhipCar operating in London and Communauto in Canada. Insurance is key
The essential ingredient in a peer-to-peer rental fleet is the proper insurance. Spride, cathar mystery tour RelayRides and Getaround provide supplemental insurance -- through national carriers -- that covers cathar mystery tour the car and owner in case of an accident, up to $1 million per incident with RelayRides and Spride Share. Renters are covered, cathar mystery tour too, after a $500 deductible.
In most cases, you don't even have to own your vehicle outright, meaning loan-free, to rent it out. Most lenders don't object, although lease agreements occasionally nix subleasing. And, yes, the income generated is taxable. Is it for you?
Of course, you have to get over the fear of lending your car to strangers. But renters who become members cathar mystery tour of the car-sharing network are screened, and their driving histories are checked. Penalties are assessed if cars come back late or dirty. Feedback systems allow owners and borrowers to rate other borrowers. Still, some car owners choose to rent only to friends and family.
Drivers mostly run errands: picking someone up at the airport, or making runs to Ikea, Costco or a grocery store, cathar mystery tour says Mordkovich. "I like the idea that my car might get used more often by people who can't afford a car," says Spride Share car owner Makinson-Sanders. cathar mystery tour And a little extra in her own piggy bank doesn't hurt.
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If you want to give people ideas on how to make a little extra money in a struggling economy, don't suggest something that can possbily leave them in financial hot water. Advise that they sell their blood or have neighborhood garage sales or something... NEVER suggest that they rent out their personal auto!
51      3 Replies ( 0 ) Hide replies cathar mystery tour Report Spam Previous replies     Write a reply... J Michael S Feb 12, 2011 4:50PM Hmmm?!? Rent someone my $35,000 car for $8/hr... I don't think so.      43      1 Replies ( 0 ) Hide replies Report Spam Previous replies cathar mystery tour     Write a reply... sail753 Feb 13, 2011 1:06AM
This is an ill informed and unresearched article. DON'T do it! Your insurance company will deny the coverage and drop you if an accident should occur. Sure, the $1 million policy provided by the car sharing company may sound enough but it is not when there's a fatality or someone ends up being paralized. Your coverage then comes in but since it will be denied, guess who will be receiving a letter from the personal injury cathar mystery tour lawyer? Last, so you loan out your car to earn how much? $600-$1000 a year.
I usually reserve personal attacks but cannot do so since this is a effing article. Can't believe Kiplinger even puts this out there. STUPIDITY will land your personal **** in jeoapardy!      43      2 Replies ( 0 ) Hide replies Report Spam Previous replies     Write a reply... j-d-6-1-9 May 4, 2011 8:53AM Dumb, dumb, dumb idea. The simple fact that the total miles on any particular vehicle are finite makes this a dumb idea, why put unnecessary miles on your personal vehicle? You're just going to be in the market for another vehicle that much sooner. Then you have the insurance issue. News flash, even if these companies did offer supplemental insurance, you're personal insurance carrier would drop you in a second if they found out what you were doing. Figures, a moronic concept like this would have taken root in the Bay Area, land of the pseudo intellectuals.      39      3 Replies cathar mystery tour ( 0 ) Hide replies Report Spam Previous replies     Write a reply... SLOW ED 36 May 4, 2011 4:20AM i spent over $50,000 on my Lincoln Nav. i wish someone would offer to rent it for $3 to $5 per hour. i would probably slap their face... Ask yourself what happens if this person kills someone ..with your car? gets parking tickets...(you won't see the tickets until you go to register the car).. red light cameras.. $1 million is not a lot of money for a life... you could lose everything for $3 to $5 bucks an hour?? this is why you have hertz, avis , enterprise .. rent a wreck ..etc....go there you cheap bastards...      38      3 Replies ( 0 ) Hide replies Report Spam Previous replies     Write a reply... chickey6 cathar mystery tour May 4, 2011 8:51AM I find it VERY hard to believe that a car owner would be willing to take on such huge risk like this for $8.00/hr. I agree with some viewer's comments " advising people to do this is completely irresponsible"      34      1 Replies ( 0 ) Hide replies Report Spam Previous replies     Write a reply... blerina81 Feb 9, 2011 12:33PM I work for an insurance company and I can tell you this is a horrible idea, first of all your vehicle is being used for business purposes therefore any claims arising out of this would be denied, also if your insurance company found out you were letting cathar mystery tour other people drive your car for a fee they will drop you like a hotcake because you're supposed to disclose all drivers on your policy. Lesson is don't listen to this article unless you want to be walking everywhere because no insurance company will cover you once your coverage has been dropped.      40      8 Replies ( 0 ) Hide replies Report Spam Previous replies     Write a reply... harley47920 May 4, 2011 8:07AM
Here's cathar mystery tour an interesting cathar mystery tour idea to line your pockets. Someone, cathar mystery tour rent out your vehicle and when something happens and the insurance policy doesn't cover the damages, then file suit against the author, or whoever is responsible for running this idiotic article.
cathar mystery tour Perhaps this will stop this article from being run all the time... IDIOTS.      35      3 Replies ( 0 ) Hide replies Report Spam Previous replies     Write a reply... cathar mystery tour chuck farley May 4, 2011 5:06AM sure....ima rent your car, squeal the tires, ebrake a 360, probly go off roading rather its a suv or not. and im definately gonna smoke cigs and dubbies in it. all for around 10 an hour hahaha.      28      1 Replies ( 0 ) Hide replies Report Spam Previous replies     Write a reply... JustAnotherObserver Apr 10, 2011 9:08AM Natasha...with all due respect, bull...if 1 car is driven 100 miles or 10 cars are driven 10 miles each the result or impact (pollutions emitted) is basically cathar mystery tour the same (depending on each car of course), how does this possibly "save the environment" cathar mystery tour (in fact, people who normally take city transportation will now be driving cars so even more gas will be burned thus resulting in just the opposite of what you just stated). That is like saying you shower at your neighbor's house to attempt to save electric by using less hot water...your bill may be lower but theirs is higher and the same amount of electric is used....maybe you should rethink that knowledge stateme