Your car's income depends on a number of factors, but there are a few things you can do to maximise your earnings. The biggest ones to focus on are availability, pricing, attracting repeat Borrowers, and marketing.
This is key to earnings. While there are bookings occurring throughout the week, weekends are certainly when cars are in peak demand. Most borrowers make the booking within an hour of needing the car, so keeping it available for last-minute weekend bookings really helps. If you block out even a short period during the middle of the day, that will likely rule out a booking for the whole day, if not the whole weekend. This is why the Fair Availability Policy requires that your car be available for the full day, at least half of the weekdays and weekend days each month.
In other words
Keeping your car available for bookings as much as possible is the key to maximising your earnings.
Pricing is also really important. If there is a car in your area that's a few years newer than yours but priced the same, it will likely be the more popular choice. Staying competitive could make all the difference. If you're not sure what to charge, check out this pricing guide or get in touch with us.
Attracting repeat Borrowers
Keeping your car clean and personalising it with useful bits and bobs like a car phone holder and/or charger, will help to attract repeat Borrowers. It's also important to make sure your car, and key are in place and ready to go whenever your car is available for Borrowers. If a Borrower gets stood up because your car or keys aren't ready for their booking it's unlikely they'll book your car again.
We will market your car through online marketing and PR. There is plenty you can do too:
- Word of mouth - telling your friends, family and neighbours about Car Next Door could really help build a local car-sharing community. Make sure you also share your personal invite code - if someone signs up with your code they'll get $15 credit to try us out, and you'll get $15 credit on your account if they do!
- A great profile - your car's profile is what Borrowers see when looking for a car and choosing which to book. Writing a fun and interesting description, highlighting your car's best features and using a clear and eye-catching photo will help it stand out and attract bookings. See this blog post for tips on creating a perfect profile for your car.
Tracking your earnings over time
You can see your car's earnings for this month, last month, this financial year, and all time in the stats dashboard. Log in to the website and go to Cars > Manage car > Stats.
Interested in renting out your car? Get your car earning money for you now!
List your car on Car Next Door