Short answer:

Car Next Door takes a commission on your car's earnings. The percentage of commission we take varies depending on which sharing plan you choose: Instant Keys or Key Handover.

Instant Keys

If you're on our Instant Keys plan ($60/month, using a lockbox), when a Borrower uses your car, you receive

  • 50% of the first $240 of time-based income your car earns each month, and 75% of the time-based income after that. 'Time-based' income means the amount your car earns per hour or day. You can set your own hourly and daily rates.
  • 13, 25 or 37 cents per kilometre that the Borrower drives, depending on the distance rate your choose. Car Next Door gets 8 cents per kilometre. A GPS unit in the car records the number of kilometres travelled by Borrowers.

For example, if your car made $500 in time income and traveled 100 kilometres in a month, you would be paid:

  Your income
Total $340
50% of the first $240 of time income $120
75% of rest of the time income $195
$0.25 x 100 $25

This example is based on a car with a distance rate of 33c/km (25c/km paid to the owner).

Key Handover

If you're on our Key Handover plan (no monthly fee, meet the Borrowers to hand over keys), when a Borrower uses your car, you receive

  • 60% of all time-based income your car earns. 'Time-based' income means the amount your car earns per hour or day. You can set your own hourly and daily rates.
  • 13, 25 or 37 cents per kilometre that the Borrower drives, depending on the distance rate your choose. Car Next Door gets 8 cents per kilometre. Distance is tracked manually – Borrowers enter the odometer reading at the start and end of their trip, and we ask you to confirm these readings after the trip as ended.

For example, if your car made $500 in time income and traveled 100 kilometres in a month, you would be paid:

  Your income
Total $325
60% of time income  $300
$0.25 x 100 $25

This example is based on a car with a distance rate of 33c/km (25c/km paid to the owner).

If you have more than one car listed on the platform, the same fees and commissions apply to each car.

Related articles

Why Car Next Door takes a share of your income
Membership fees for renting out your car
How much income your car could earn

Get your car earning for you now.
List your car on the Car Next Door platform

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Comments

2 comments
  • It's probably better to have some eg of what your trying to say above because it is rather hard for me to understand without seeing some eg of say a monthly income breakdown

  • Detail exactly when the $60 per month is deducted. In the above example is it taken out from my resulting income or the initial income?
    For example my car earns $120, you keep a 50% then hand over $60 of which I then have to pay for the monthly fee? or does my car earn $120 and the $60 monthly fee is taken out then you keep 50% which is $30 and I get the remaining $30.

    Also I read the article on what the commission fee is for, which seems to cover everything, so what is the membership fee for?

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