Why do Uber and Lyft customers use rideshare? To “get around,” of course! Maybe that’s what the people behind the innovative transportation business Getaround had in mind when they named the company. In the past, Getaround has been seen as a potential rival for Uber and Lyft, but things have changed. We’d say it’s a new way to be a gig driver, except you’re not always the one doing the driving when you work with this app.
Getaround has been in business since 2009. It’s recently attracted a lot of attention because it has just let loose with a public offering via a SPAC (Special Purpose Acquisition Company). From the gig driver’s perspective, the influx of funding from the deal can’t be a bad thing, especially if you’re looking for a sweet side gig in the rideshare game.
We thought we’d take a look at how this company works, and what’s in it for rideshare drivers and others who might want to give Getaround a try. Here’s what we’ll examine:
- Rideshare driver news: Does Getaround compete with Uber and Lyft?
- How Getaround works
- Uber driver news: Getaround rents to Uber drivers!
- Uber driver tips and Lyft driver advice: The pros and cons of listing or driving with Getaround
Rideshare driver news: Does Getaround compete with Uber and Lyft?
There have probably been plenty of times when you’ve posed the long list of Uber vs. Lyft questions. Which is higher, Uber driver pay or Lyft driver pay? Which is more popular? Where can I get the best bonuses? Which one has the better rewards program? There are more, but let’s get back to the comparison to Getaround.
With few exceptions, it doesn’t often occur to us to ask whether there are any Uber competitors or Lyft competitors. The two biggest rideshare companies have done a stellar job of cornering the market in most major metro areas. Now, though, with Getaround’s public offering, more people are getting curious about how the company works, how it differs from Uber and Lyft, and how it can help rideshare drivers and others make money.
Let’s be clear. Getaround could be a rival of Uber and Lyft in some ways, but in general it’s too different to be in direct competition. Most rideshare passengers call a car when they want to get from one place to another. Many times, it’s because they don’t want to drive their own vehicles. Maybe it will be too much of a pain to park where they’re going, or they want to have a few drinks while they’re out, while still keeping themselves and others who might be on the road safe.
Getaround has a whole different thing going on. Like Uber and Lyft, Getaround works on an app. However, that’s where the similarities end. With Getaround, an individual who might ordinarily be a passenger for an Uber driver or Lyft driver does all the driving! They’ll also have to be willing to park the car where they’re going; and before they get there, they’ll need to meet some pretty strict requirements to qualify to rent through Getaround.
This business model attracts a whole different kind of customer. While it might remove some rideshare runs, such as trips for groceries or home goods, it probably won’t make much of a dent in rideshare business involving airport and other travel traffic, rides to events, or trips home from a night out on the town.
Still, there are opportunities to make money with Getaround. In addition to renting your own car, you can rent Getaround cars so you can drive with Uber. This is sounding more and more like a great opportunity to score some extra scratch. Let’s look at the details.
How Getaround works
As you can see already, Getaround isn’t really a ridesharing business. It’s a car-sharing business. Getaround lets people rent cars on a short-term basis, whether it’s to run errands or take a ride out into the country for the day. Getaround has also partnered with Uber, to offer cars Uber drivers can rent! The customer picks up the car at its “home” location, unlocks and starts it with the app, and uses the car for a few hours, or a whole day.
Where do the cars come from? That’s where Getaround gets interesting for people who want to add some padding onto their rideshare driver pay. You can create a business of your own by renting your car out to Getaround users!
How is this done, and is it worth it for you? We’ll give you the facts so you can weigh the pros and cons. Then you can make your own determination.
Let’s begin by seeing what it takes, and what you get when you offer your car to be rented through Getaround, and how much Getaround pays.
What it takes:
- You’ll definitely need a car to share, and that car will have to be in a location where Getaround operates. Use a vehicle you already own, or buy one just to offer through Getaround. Your car will need to
- be a model year 2007 or newer
- have an odometer reading of 200,000 miles or less
- have no more than 10 passenger seats
- have at least 4 wheels and be a private passenger vehicle
- not be any of these ineligible vehicles: all models from BMW, Infiniti, Maserati, Mercedes, Tesla, Porsche, Bently, Chevrolet Camaro, Chevrolet Corvette, Dodge Challenger, Dodge Charger, Ford Mustang
- be shown in photos that all 4 sides have no prior or existing damage
- have a clean title, not a salvage/repair title
- Comply with Getaround’s standards involving owner documentation, cleanliness, and ongoing monitoring. You can learn more about these requirements in this Getaround post,
What you get:
- Paid! Once your car is accepted and available as a rental, you’ll collect money each time a Getaround guest chooses it.
- Regular disbursements. You’ll get paid monthly through your PayPal account.
- A dashboard-based information center that shows how your car(s) perform(s).
- The ability to adjust your price and change it from the one recommended by Getaround’s algorithms.
- Feedback from Getaround on how likely the price you set is to attract customers.
- Predictive pricing that adjusts your price based on customer demand and car availability.
How much Getaround pays:
Just like so many transportation-related gigs, your profits as a Getaround host will vary based on supply and demand. There is a minimum earnings figure of $5 per hour. Remember, though, that your car must be rented in order to receive that fee. On top of that, Getaround takes 40% of the fee you charge to offer your car for rent.
You’ll want to optimize your earning potential by refining your car’s listing and spreading the word that it’s available for hire. Read this Getaround help listing for more suggestions.
If you’re thinking about renting your car on an occasional basis, you’ll want to be aware that Getaround charges fees for listing your car(s). There is a $99 connect fee per car, and then there is a schedule of monthly subscription fees, based on the number of cars you list, that you can see in this Getaround help article. These fees can make or break your profitability, depending on how frequently your car(s) will be available to rent.
Based on all these variables, it’s difficult to say exactly how much Getaround pays. According to this post on Medium, Getaround told the blogger that he could expect to earn $500 per month if his car was available half the time, and around $1000 per month if he made it available all the time. This number doesn’t take into account the various expenses the driver incurred.
The car and the host who divulged the potential earnings quoted to him are in the City of San Francisco. You’ll have to gauge how different demand, and costs for parking, might be in your area to get a better estimate. Or you could contact Getaround to ask what potential earnings might look like for your car, based on the amount of time it can be available and where you’re located.
If you do decide to make your vehicle available for rent through Getaround, you can also benefit from their Friend Referral Bonuses Program. They’ll give you a referral link that you can distribute to friends and people you’d like to invite to join you on Getaround. Each time one of them signs up to rent their vehicle, you’ll receive $20. Lots of gig workers leverage referral links to turn them into extra income, and if you apply yourself it’s not too hard to be really successful.
On top of all that, there’s even more you can do with Getaround, now that the company has officially partnered with Uber.
Uber driver news: Getaround rents to Uber drivers!
Now in select cities you can use Getaround vehicles to drive with Uber and Uber Eats. So far the cities include Boston, San Francisco Bay Area, Washington, D.C., Atlanta, Denver, Los Angeles, Portland, Philadelphia, San Diego, Seattle, and Atlanta.
Uber’s partnership with Getaround allows for lower-cost rentals, starting at $4 per hour. Also, Uber drivers receive insurance coverage, unlimited mileage, 24/7 support, and roadside assistance with their Getaround rentals.
Naturally, you’ll need to meet the requirements of all Getaround guests, including
- being 19 years of age or older, except in LA/Orange County where you must be 22. Drivers with an International license must be 25.
- having a clean driving record.
- knowing that you will be continually monitored by Getaround to retain eligibility.
The full list of qualifications for Getaround guests is in this post. As you’ll be able to see, they are no more stringent than the requirements you must meet to drive for Uber.
Now,what if you’d like to rent your car to Uber drivers? That’s very doable, too. The vehicle must meet Uber’s requirements for your area. It must also
- be located in one of Getaround’s drive with Uber cities
- be already live on the Getaround app
- have 4 doors
- meet the vehicle age restrictions
- be registered with Getaround as a drive for Uber-eligible vehicle
Note that the car and document requirements will vary from one market to the next. Check this Getaround help article to find out more about eligibility requirements in your area. Once you are sure your car is eligible, you can proceed by registering it with the drive for Uber section in the Getaround app.
Just a piece of Lyft advice: the drive for Uber feature within Getaround is, at this point, for Uber drivers only. You’ll have to look for other options to rent a car for driving for Lyft. But you can list your car for Uber driver rental, whether you drive for Uber or not.
Uber driver tips and Lyft driver advice: The pros and cons of listing or driving with Getaround
We want to make sure you get some sound and concise information about the pros and cons of using Getaround, so here’s the deal:
Hosting on Getaround
On the plus side:
- You set your own pay, within reason.
- You make money without driving.
- You have the potential to make bonus money with referrals.
- You save on gas.
- Your insurance is covered.
The minuses:
- You can’t control who can drive your car.
- You won’t have access to the vehicle you’re offering for rent.
- You won’t get tips.
- You have to wait to be paid, once a month.
- You must use PayPal in order to be paid by Getaround.
Using Getaround to drive for Uber
On the plus side:
- No worries about wear and tear on your personal vehicle.
- Other family members can use your car while you’re driving.
- Uber-worthy insurance, customer service, and roadside assistance are included.
- You might be able to drive a car for Uber that’s nicer than the one you own.
The minuses:
- Renting for Uber isn’t available in a lot of markets.
- You will have to pay for your fuel.
- You have to pay to access the car through the app.
- You’re susceptible to late fees for late returns.
- You’ll have to get rides to and from the car’s spot.
- You’ll have to get used to a different car’s controls and features each time you drive.
Based on the pluses and minuses, and how available Getaround is in your area, you’re now equipped to decide whether it’s right for you. Keep watching Getaround, too. Because they’re going public, they might develop plans for more extensive or additional programs.
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