Vans are the most profitable cars on Car Next Door, so if you're looking to maximise your income renting out a van is a great way to do that. To maximise your profit, rent out an older automatic van that's in good mechanical condition.
On average, vans earn around $600 a month and are the most consistently high-earning cars on Car Next Door. This figure is the average monthly income for a van that's available at least 50% of the time. It's the owner's income after we take our commission. You'll still have costs for running your van, but many of these may be tax deductible.
If you’re thinking of renting out a van, you can maximise your income by choosing one that is:
- Automatic - automatic vans earn about 50% more than manual vans
- Worth under $15,000 - a workhorse is fine, as long as it’s solid and reliable
- Not too new - age has very little impact on earnings for a van; they earn just as much if they’re 10-12 years old as a new van
- Mechanically sound and in good working order
- Available for bookings at least 30% of the time (but the more the better)
As vans are mostly used for practical purposes like moving house or picking up furniture, they don’t need to be new or fancy. Most borrowers need a van to get the job done, so as long as your van is reliable and easy to drive it should be very popular.
How much work is required?
Renting out a van doesn’t take too much time so can provide a great return on investment. You’ll need to:
- Check on your van at least once every 10 days
- Take it for a quick drive once a month to make sure it’s running well
- Report any issues to us ASAP
- Keep it serviced and maintained regularly
- Keep it reasonably clean
You can rent out more than one car at a time, so you could try renting out a few vans as a way of making extra income.