Renting Out My Car – Our Top 5 Tips
Ever wondered, ‘can I rent my car out?’ but just never got around to it? It’s easier than you think… You can rent your car out hassle-free, and make hundreds of pounds per month doing so!
Whether you’re looking to share your car just a couple of days, a week, or the majority of the time, why not look into it as a viable and convenient option to create a passive income stream! Don’t know how to get started? You’ve come to the right place - here are our top 5 tips on how to rent your car out.
Can I rent my car out?
In most cases, yes, but there are a few important things you need to have in place before renting out your car legally, safely, and confidently. First, you must be the legal owner of the vehicle and ensure you’ve got all your paperwork in place before listing.
Your car must also be road legal. This means it needs to be correctly taxed, have a valid MOT, and be in a safe, roadworthy condition. Any warning lights, worn tyres, or unresolved mechanical issues should be addressed before allowing someone else to drive your car.
Insurance is also required. Even though some platforms provide specialist insurance, your underlying policy is still required. You’ll find more on specific Hiyacar eligibility below.
How can I rent out my car?
So, how exactly do you rent out your car online? First, you’ll have to sign up for a car hire platform, like us! If you meet all of the criteria set out below, then you’ve passed the first stage.
Then it’s time to complete any verification steps that are required, while also checking documentation such as your driving licence, for example.
After this, you’ll need to complete a profile, depending on the platform you’re using. This is a great opportunity to show users who you are and to put a face to the name, so people can see who they’re renting a car from.
Once you’ve submitted your listing, you can take and upload pictures of your vehicle to get people interested. You can also change your pricing and set the car’s availability too.
Where can I rent out my car?
The best thing is that you can rent out your car online! Platforms, like Hiyacar, act as a marketplace that connects owners with drivers who need short-term access to a vehicle.
Using a platform comes with its advantages too. Many provide specialist insurance, identity checks for drivers, secure payment handling, and customer support in case something goes wrong. This significantly reduces risk and admin tasks for you as the car owner.
Different platforms might focus on different use cases, for example, some specialising in hourly rentals, and others in daily or long-term bookings.
Tip 1: Be eligible and insured
If you’re looking to rent your car out, then you first need to make sure it’s eligible and insured. Different platforms may have different requirements, but for your car to be listed on the Hiyacar platform, it must meet the following criteria:
- it must be under 15 years old
- it can only be up to insurance group 31
- have a current value of under £60,000
- it can have a maximum of 9 seats
This allows us to facilitate the majority of cars (apart from commercial vehicles such as vans, classic cars and supercars).
Your car also must be taxed, MOT’ed & Insured - which you can also check via the previous links. You must also check, before hiring it out, that it is mechanically functioning so our mutual customer, the driver, feels safe in your car and doesn’t have any issues during their Hiya!
Hiyacar also provides bespoke car sharing insurance, which will override yours during a booking; however, your car must always be insured. Find out more about how our insurance works.
Tip 2: Have breakdown cover ready
As Hiyacar’s bespoke car sharing insurance doesn’t cover wear and tear, mechanical, electrical, electronic or computer faults, failures, breakdowns, breakages or malfunctions or damage to tyres (caused by braking, punctures, cuts or bursts etc), it is essential to have your own breakdown cover. This is so if a renter happened to experience an issue, then having active breakdown cover means a professional can be out to help with the problem quickly and safely.
This is something that’s often overlooked, but it’s one of the most important things to have in place when renting your car out.
Tip 3: Price your car competitively
Setting the right price can make a huge difference to how often your car gets booked. Too high, and your listing could get ignored. Too low, and you could miss out on earnings. A good starting point is to look at similar cars in your area and consider factors such as make, model, age, mileage, and features. It’s also worth factoring in:
- Local demand (urban areas often perform better)
- Weekday vs weekend pricing
- Seasonal peaks such as holidays or major events
Some owners find that adjusting prices over time helps maximise both bookings and income. Competitive pricing, especially when you’re new, can help you get that first rental booking!
Tip 4: Get your car clean and ready for customers!
Drivers take notice of the care you’ve taken of your vehicle, and a number of bookings through the Hiyacar platform are made to use the cars to take to events such as weddings, birthdays and family gatherings… would you want to turn up to one of these in a dirty car?
For your listing, regardless of which platform you choose to rent your car out on, you’re going to need some lovely high-quality images of it looking its best, so as to really sell your car to the potential driver!
Tip 5: Keep availability and communication clear
Cars that are easy to book tend to perform better. It’s the convenience of needing a car, and getting one straight away. Make sure your availability is kept up to date and reflects when the car is genuinely free to be used, because cancellations or last-minute changes can negatively impact reviews and future bookings.
Clear communication is equally important. Think about it this way: if someone is deciding between your listing and another, and asks the same question of you and the other owner, but they respond ahead of you, it could mean yours is out of the running. Responding as quickly as possible to booking requests or messages can reassure the owner that they’re dealing with a reliable owner.
Choose a rental platform and get started!
The answer to, ‘can I rent my car out?’ is yes, and ‘but with which platform?’ Obviously, we’re going to say, Hiyacar! But we have good reason. You can earn up to £650 per month renting out your car through us, sign up is free, and there’s no subscription fee to have your car listed on our site.
Our proactive, supportive owner’s team will help you get your car listed, provide you with an Owner’s Pack with promotional materials, to help you get as many bookings as possible, with no subscription fees for listing your car!
So, why not get started - begin renting out your car now, to get an estimated earnings figure and continue by uploading images of your vehicle and its availability!
Whatever question you might have, contact us today to get an answer from our incredible team.
