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Why Car Owners Should Avoid Listing on Getaround

Getaround is a social car sharing service that allows regular car owners to rent out their cars to other people. Getaround focuses more on hourly rentals and 1-2 day rentals compared to Turo that generally focuses on longer term rentals, from a few days to a week. Getaround competes with Turo as a social car sharing rental platform and also with Zipcar as an hourly car rental service. Getaround is a mixture of Zipcar and Turo.

Below is Getaround’s description:

Social car sharing: Rent cars by the hour from people around you. Start renting out yours today and earn cash.

Getaround works well in cities that have high cost of car ownership or cities that do not have sufficient parking in residential areas. The high cost of car ownership prevents people from owning cars and forcing them to use public transportation, Uber/Lyft, or car rentals. Getaround is targeting hourly rentals and competes with Zipcar. Getaround hourly rates are a fraction of the hourly rates on Zipcar, but Getaround doesn’t offer free gas.

Getaround uses a device called Connect that can locate the vehicle and remotely lock/unlock the car. The Connect Device relies on cellular and GPS signals in order to function so if the car is underground, the car may not be unlocked with the Connect Device. I have an outdoor parking spot so this isn’t a concern for me. This device allows for renters to rent a car without the owner being present, which is great for owners who don’t have the time to meet every single renter, especially when they are at work.

The downside of the Connect device is that it needs to be hard-wired to the car and costs $20 a month as a subscription fee and a $99 installation fee. Car owners cannot have a car listed on Getaround without this connect device.

How Do Drivers List Their Car on Getaround?

Signing up for Getaround is easy. You go to their website and sign up as a renter first. You will need to use your Facebook account to signup and log into Getaround, which I don’t personally like, especially with the recent privacy issues surrounding Facebook.

Once you sign up as a renter, you can go into the Cars tab and click List a car. You will have to fill out some information about the car though the various menus. Once you finished, you will have to schedule a time for your car to be picked up by Getaround to have the Connect device installed. The installation process should only take two days, but some owners have stated that it took weeks for them to get their car back. If you are constantly renting out your car on Turo, block off a week for the Connect installation.

What Are the Owner Settings on Getaround?

The types of settings available to Getaround car owners varies from market to market. Here are all the settings you can change:

Why Car Owners Should Avoid Listing on Getaround

Below are the various reasons why car owners should avoid listing on Getaround:

The only good thing about Getaround is the Connect device. It makes it much easier for car owners to rent out their car without being present for pickup and dropoff. Car owners still need to see the car before or after the rental to inspect for physical damage to the vehicle. However, every rental I had was a financial loss for me so I rather have the car sitting doing nothing than renting it out. I didn’t finance my cars so I don’t have loan payments to make. I don’t need my revenue to be at a certain level so I rather not earn money than earn a little money while depreciating my car.

I used to think that any rental is better than no rental but after calculating the numbers for my Getaround rentals, no rental is better than any rental on Getaround. I can’t recommend anyone sign up for Getaround. It is much better to have your car parked than having it listed on Getaround. There is very little monetary incentive for anyone to rent their cars on Turo. In some markets, Getaround have promotions that may be lucrative but without it, avoid Getaround at all costs.

My little Getaround experiment is finished and I’m sticking with Turo from now on.

What are your experience with Getaround?

There seems to be plenty of people listing their cars on Getaround so it must be profitable for some people. What are your experiences? Do a lot of renters reach the mileage limits?

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