If you meet our income guarantee criteria, we guarantee you'll earn at least $2,000 in your first 12 months of renting out your car, or we'll pay you the difference.
To remain eligible for the income guarantee, car owners must ensure that their cars meet certain criteria throughout the Guarantee Period. If you meet all the following criteria for your first full year on Car Next Door, we guarantee that you will earn $2,000 in your first 12 months or we'll pay you the difference.
The Guarantee Period starts on the first day of the calendar month after a car is first made available for bookings, and lasts for 12 months.
To be eligible for the guarantee, a car must, for the duration of the Guarantee Period:
- Be 6 years old or less (based on the year of manufacture);
- Have fewer than than 150,000 km on the odometer;
- Be located in one of our high-demand suburbs of Sydney, Melbourne or Brisbane;
- Be available for members (not including you or your additional drivers) to book from midnight to midnight at least 5 weekend days and 13 weekdays of each full calendar month during the Guarantee Period;
- Stay priced at the rate recommended by Car Next Door;
- Be available for verified Borrowers above the age of 21 to book;
- Be made available (in the homezone, with the lockbox and key accessible) for every booking (except where this is not possible due to the actions of another borrower);
- Not receive negative (“thumbs down”) ratings from borrowers for more than five percent of bookings;
- Meet the car eligibility criteria as set out in clause 4 of the Owner Supplement; and
- Have the full suite of Car Next Door stickers on the car
The Owner must also comply with their obligations under the Owner Supplement, act in good faith and not do anything that is intended to, or likely to have the effect of, reducing their car’s bookings (for example, but not limited to, asking borrowers to cancel a booking or intentionally making it difficult for borrowers to access or enjoy the use of the car).
Applying for the guarantee
There's no need to apply for the guarantee. As long as your car meets the conditions, it will automatically be offered to you when your car is listed on Car Next Door. If you have any questions or would like to confirm whether you have been offered the guarantee, please get in touch.
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