For most people, renting a car out is about offsetting their car’s costs, while still being able to drive it when they want to. If making a profit is your driving motivation, or you’re looking to buy a car and want one that will earn as much as possible while it’s rented out, this data on average earnings will be helpful.
The highest earning cars in the Car Next Door fleet are vans, located within 5 kilometres of the city. Other cars are also in demand - the biggest factor affecting earnings is how much of the time the car is available for bookings.
For all of the data presented in this article, we have looked at cars that:
- are available at least 30% of the days each month
- have been rented out on Car Next Door for at least one month
Top earning car types
- People mover
We have not seen any trends towards particular makes or models.
Median monthly earnings by car type
Other factors that impact on earnings
Aside from car type, there are several other factors that impact on earnings. The relevant combination of these factors will have a big impact on your car’s earning potential.
Due to the consistent high demand for vans, these factors have less impact on van earnings than they do on car and ute earnings. For all the graphs below, we’ve presented the data separately for vans to provide a more accurate picture of how the various factors impact on median earnings across the Car Next Door fleet.
Availability is the number 1 factor impacting on earnings. There is a definite trend between availability and earnings. The more available your car is, the more bookings it will get and the more money it will earn.
Cars and utes: Median monthly earnings by availability
Vans: Median monthly earnings by availability
New cars (under 3 years old) are popular and earn more - but there’s not a lot of difference between a 5 year old and 12 year old car’s earnings. Older cars are great to rent out, as long as they are well kept and in good mechanical condition.
Age isn’t really an issue for vans: they earn just as much if they’re 10 or 12 years old as if they’re new.
Cars and utes: Median monthly earnings by year of car
Vans: Median monthly earnings by year of van
Borrowers are not able to borrow manual cars unless they are experienced manual drivers, so manual cars get fewer bookings. Automatic cars earn around 46% more than manual cars, and automatic vans earn over 100% more than manual vans.
Cars and utes: Median monthly earnings by transmission
Vans: Median monthly earnings by transmission
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