Many people take out a car loan to facilitate the purchase of a car. The purchase of a (new) car involves a substantial amount and the vast majority of people need a loan to be able to pay this amount. A car loan offers a solution. If you need a car loan, you also have to deal with repayment and interest in addition to the usual car costs such as depreciation, road tax, insurance and fuel.
All in all, owning a car results in a considerable expense. But did you know that you can recoup a significant portion of these costs by sharing your car with others? The Dutch company Snappcar has developed a platform that brings car owners and people who need a car together. By registering with Snappcar as a landlord you can earn hundreds of US dollars every month.
Earning money with Snappcar
Snappcar has 200,000 private users who occasionally need a car. And that could be your car! The average car in the Netherlands stands still for 23 hours a day. With that in mind, it is not such a bad thing to share your car with others. But of course there must be something in return. With Snappcar you can! This Dutch platform makes it possible to earn money by sharing your car . By sharing your car through Snappcar you can earn hundreds of US dollars every month. And it is also good for the environment!
How it works? You indicate on Snappcar when your car is available and what the price per day is. Do you find that difficult to determine? You can base your price on the amounts that renters with a similar car charge. Or use the Snappcar license plate tool. They will then advise you on a realistic rental price. Determining the price per day must be done accurately. If you ask too little, you will leave money behind. Are you asking for the main prize? Then the users of Snappcar will most likely choose a different shared car.
At Snappcar you decide who you rent out to. You are therefore not obliged to accept all applications. You can use the handy review system when processing the applications for your car. Landlords leave assessments about the tenant with this system. This allows you to determine whether a tenant is reliable or not.
Conversely, tenants can also use the review system to rate the landlord. Lessors of a shared car with many positive reviews will attract more renters than a lessor who does not yet have any (positive) assessment. If you decide to start earning money by renting out your car through Snappcar, it is therefore important to collect good reviews as soon as possible. You do this by asking a reasonable rental price, offering good service (answering quickly) and ensuring a clean shared car.
Snappcar and your car insurance and no-claim
By renting out your car to others you run the risk of damage. Most car insurance policies do not cover the damage caused by car sharing. Snappcar has come up with a solution for this undesirable situation. Snappcar has taken out all-risk insurance for lessors. This concerns comprehensive insurance that covers your car up to its current market value with a maximum of € 90,000. This insurance acts as an extra layer on top of your own car insurance. This ensures that your no-claim discount is not affected in the event of damage.
Conclusion: is sharing your car via Snappcar a good way to make money?
All in all, the Snappcar platform is a bull's eye. People who occasionally need a car can rent a car from a private person for a reasonable price. For car owners who do not use their car all day, Snappcar is an ideal way to earn money. By sharing your car you can earn around € 6,000 annually. That is a nice contribution to the costs you incur as a car owner.
Isn't making money sharing your car for you? No worries! On the page ways to earn money you will find various other options.