Wednesday, October 26, 2011

Social Car Sharing Service

Facebook has reconnected far-flung friends and family, and LinkedIn gives people a way to stay in touch with professional contacts. A start-up in the bay area, Getaround hopes to convince car owners in the bay area to rent their vehicle when not in use to locals and visitors on hourly basis.

The idea was made possible by California’s new auto-insurance laws, which went into effect in January. Car owners may now rent out their vehicles without concern that an accident claim might affect their personal insurance policies. Under the new laws, vehicle and driver are fully covered by the policies of a car-sharing service during a rental.

As posted on GetAround's website "Cars are driven only 8% of the time, while potential drivers walk past block after block of underutilized cars. We are here to connect the dots... to help people get around."

Currently you can find a Telsa for $75 per hour and  a BMW Z3 for $6 per hour. Are you ready to rent out your personal car to recover your monthly installment payment?

Source: NYTime and Getaround


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