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 we have a Fair Availability Policy for cars on the Instant Keys Plus+ and legacy $60/month plan..
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 the recommended rates on the rates page in your car profile. These recommendations are based on a range of factors, including your car's body type, location, age and transmission. You can also search for cars in your area and see what other owners are charging.
You can increase your income by charging peak rates for weekends and holiday periods, and attract long bookings by offering multi-day booking discounts. Read more about peak rates and multi-day booking discounts.
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 - it can be applied five times every month. 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 too!
- 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.
- Extra promotion - We do digital and offline advertising for Car Next Door and your car, but if you've got some extra time, there are plenty of ways you can help spread the word to your local community. Find out what marketing we do and how you can help.
Tracking your earnings over time
You can see your car's earnings for this month, last month, this financial year, last 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