Make your car make some money

Converted to taking public transit from your apartment to your San Francisco workplace? Still have a car? Want to make your car make money while you aren’t using it?

Now there’s an easy way to do so with a new car sharing service that uses the vehicles of private individuals. If you aren’t using your vehicle, it’s an easy way to make some cash.

The business is called Getaway from Getaround. The only catch is that you have to make your vehicle available to the service for a minimum of six months – you can’t just lend it to them for a week while you’re on vacation or taking the bus to work.

This service is currently in beta testing while the company works out the bugs (we’re assuming that they’re testing for things like financial viability, interest levels, and whether the private party auto option works). San Francisco is among the test markets, and for those who are struggling with car storage for a vehicle they aren’t using anyway, this could be a great option.

Here’s the pitch:

Of course, there are some risks here too. Your car could end up rented to a crazy person who crashes it into a lamppost or a cyclist or leaves it unlocked with the keys in down on Market Street. Bye bye, car. Not sure how your vehicle insurance company would handle such a claim, but they probably wouldn’t be pleased. Getaway, of course, requires all the renters of their loaned vehicles to pay for or provide supplemental rental insurance, just like any car rental agency.

A few users who have already tried out Getaway report success – and seem to really like the additional income.

Conversely, if you’re looking for a car to use around the city for just a few hours, Getaround may be your solution. They have reasonable rates, easy access to vehicles and you don’t have to go through the hassle of dealing with a traditional airport-bound rental agency.

Have you used the service, either as a car lender or customer? If so, what did you think?