Make Extra Cash by Renting Your Car
Put your car to work for you when you’re not using it.
You are now subscribed
Your newsletter sign-up was successful
Want to add more newsletters?
Delivered daily
Kiplinger Today
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more delivered daily. Smart money moves start here.
Sent five days a week
Kiplinger A Step Ahead
Get practical help to make better financial decisions in your everyday life, from spending to savings on top deals.
Delivered daily
Kiplinger Closing Bell
Get today's biggest financial and investing headlines delivered to your inbox every day the U.S. stock market is open.
Sent twice a week
Kiplinger Adviser Intel
Financial pros across the country share best practices and fresh tactics to preserve and grow your wealth.
Delivered weekly
Kiplinger Tax Tips
Trim your federal and state tax bills with practical tax-planning and tax-cutting strategies.
Sent twice a week
Kiplinger Retirement Tips
Your twice-a-week guide to planning and enjoying a financially secure and richly rewarding retirement
Sent bimonthly.
Kiplinger Adviser Angle
Insights for advisers, wealth managers and other financial professionals.
Sent twice a week
Kiplinger Investing Weekly
Your twice-a-week roundup of promising stocks, funds, companies and industries you should consider, ones you should avoid, and why.
Sent weekly for six weeks
Kiplinger Invest for Retirement
Your step-by-step six-part series on how to invest for retirement, from devising a successful strategy to exactly which investments to choose.
You may cringe at the thought of letting a casual friend, let alone a stranger, drive your car. But what if you could earn a few extra bucks by renting it out? Several car-sharing services facilitate such deals, putting you in touch with potential renters and providing insurance to protect against damages and liability.
RelayRides is the most widely available and versatile of the bunch. Its marketplace feature links you directly to people looking to rent for at least a day in more than 2,500 cities (although the company doesn’t operate in New York State). You can check up on potential renters, who have online profiles and are prescreened by the company.
Your car must be a 2005 model or newer and have fewer than 100,000 miles on the odometer. RelayRides recommends pricing based on demand in your city, but you can charge whatever you like. In the month of August, the average active user made more than $500 after RelayRides’ 25% cut to cover administrative fees and insurance, says Steven Webb, director of communications.
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
RelayRides isn’t as high-tech as better-known car-sharing services, such as Car2Go: You have to coordinate pickup and meet the renter to exchange keys. The company touts its $1 million primary liability insurance, but if your car is totaled, you’ll receive compensation only up to the actual cash value of your car. And unless you’ve taken “before” photos of your vehicle immediately prior to renting it, coverage excludes dings, dents or scratches less than 6 inches long.
-
Ask the Tax Editor: Federal Income Tax DeductionsAsk the Editor In this week's Ask the Editor Q&A, Joy Taylor answers questions on federal income tax deductions
-
States With No-Fault Car Insurance Laws (and How No-Fault Car Insurance Works)A breakdown of the confusing rules around no-fault car insurance in every state where it exists.
-
7 Frugal Habits to Keep Even When You're RichSome frugal habits are worth it, no matter what tax bracket you're in.
-
10 Things You Should Know About Buying a Car Today, Even if You've Bought BeforeIf buying a car is on your to-do list, and it's been a while since you went shopping for a new one, this guide will help avoid any nasty shocks in the showroom.
-
Get the Best Car Deal in Retirement: Here's the TrickPlanning on shopping for a new car this Labor Day weekend? Here’s how to haggle for a better price, even though you're retired.
-
Five Ways to Save on Vacation Rental PropertiesTravel Use these strategies to pay less for an apartment, condo or house when you travel.
-
How to Avoid Annoying Hotel Fees: Per Person, Parking and MoreTravel Here's how to avoid extra charges and make sure you don't get stuck paying for amenities that you don't use.
-
7 Gas-Saving Tips That Actually WorkThese are gas-saving tips that will actually work for you and your car this year.
-
Want to Lease an EV? The Tax Credit 'Loophole' for That Is Going Away SoonTax Credits If you are deciding whether to lease or buy an electric vehicle, here is what you need to know about how the EV lease tax credit works now that it will be eliminated under Trump's new tax law.
-
Car Buying in a Topsy-Turvy MarketYou need a new car? Good luck with that! What should you do? We've got some answers.
-
Watch Out for Flood-Damaged Cars from Hurricane IanBuying & Leasing a Car In the wake of Hurricane Ian, more flood-damaged cars may hit the market. Car prices may rise further because of increased demand as well.
