Peer-to-Peer Car-Sharing Services

by Emily Co 1

Introducing . . . another new wave of startups that will help you save on car rentals. Bay area companies like Getaround, RelayRides, and Spride Share, are providing a cheaper zipcar-like alternative, according to the New York Times. However, instead of renting cars from a company, you'll be able to get your car from an individual who has decided to rent his car out.

This online peer-to-peer lending service is a bonus for both parties, because as a car owner, you'll be able to earn money on the side when you're not using your car, and as a renter you might be able to fork out less if the stranger decides to charge a lower rate. This new trend in car lending has come about due to the new changes in California's auto law, which fully insures both drivers and owners who participate in car-sharing services. What do you think — is this a service you would use?