Car sharing

How to earn £550 with your car every month

What is car sharing?

Car sharing enables car owners to safely rent out their vehicles to nearby renters in exchange for money. Think of it like an Airbnb for cars. It’s a great way to make your car work for you whenever it’s not in use. By renting out your car or van, you can help members of your community get to where they need to be. Car sharing also helps reduce CO2 emissions by decreasing the demand for more cars on our roads. With driver telematics to support safer driving and contactless car collection, renting out your car has never been easier.

What is keyless technology?

Karshare’s technology allows approved renters to book, locate and access your car without you having to lift a finger, for a hassle-free, contactless rental. Our technology comprises a small black module, which is installed in every vehicle on our platform and acts as a virtual key. The installation is non-invasive, discreet and simply hooks up to your OBD2 port. The whole process is managed by Karshare. All you need to do is select a date and time for a member of our team to collect your spare car key, which is used to build the keyless module. We have an approved partner who carries this out for Karshare. Don’t worry if you don’t have a second key, we can help you source one from a reputable company – 40% of our owners to date have used this service.

After collecting your car key and sending the finished module back to you, we will arrange an installation date that should take no more than 30 minutes and will mark the final step before you’re ready to share!

Karshare’s keyless technology uses facial recognition to securely authenticate renters when unlocking your car. Our leading technology also tracks every renter’s driving behaviour to ensure safe driving and records mileage and fuel levels so you don’t have to. These telematics allow us to keep an eye on speed, acceleration, braking and the car’s location, so you can be confident your car is always being driven with care. We also use smart data to instantly credit your account in the event of over-mileage or under-fuelling by a renter.

How do I share my car?

Once we have completed the installation process in your vehicle and your details have been onboarded to our platform, you will be asked to set your rental price and select the dates and times you want to make it available for each month. The more available your car is, the more money you will earn. All vehicles on Karshare are instantly bookable, so renters can see which cars are available in real time.

If a renter books your car, you will be notified via email and the Karshare app with all the details, including your earnings.

Before your first rental, the Karshare team will provide you with a sanitisation kit to help manage the cleanliness of the car before rental. Renters will use the same kit to clean again at the end of each rental. We ask that both owners and renters please follow our current Covid-19 cleaning instructions so everyone can enjoy a clean car experience.

The renter will be required to complete a condition report before the start of their rental to indicate the state of the vehicle. This is done by submitting a series of photographs of the vehicle on the Karshare app, which can then be compared to the condition report taken at the end of the rental. If we notice any discrepancies, we will notify you.

How much can I earn through car sharing?

Car owners on Karshare earn up to £550 a month through rentals, based on 18 days a month. Owners retain 70% of the rental fee and will always be paid for any missing fuel or excess mileage. On top of the rental fee (car price), renters pay a daily insurance fee, which is transferred directly to the insurer.

How does insurance work?

Our insurance partner, QBE, provides fully comprehensive insurance during the full rental period (pick up to drop off) with a replacement value of up to £50,000. Renters on Karshare are required to complete DVLA checks and pass our eligibility requirements, indicating that they are reliable drivers.

If a renter has an accident while driving your car, you will be fully covered. Karshare will cover the cost for all repairs. If your car needs to be taken away to be repaired, we will provide you with a courtesy car so you are not left without a vehicle.

In the event of a speeding ticket or parking violation that occurred during a rental, we ask that you notify our team as soon as possible so we can transfer the fine onto the renter. If a renter breaks down during their rental, we provide RAC roadside assistance. At Karshare we handle every incident on a case-by-case basis and our friendly customer support team is always on standby to help.

Is my car eligible for sharing?

To share your vehicle on Karshare, it needs to:

  • Be less than 13 years old
  • Have less than 100,000 miles on the clock
  • Have comprehensive insurance and a valid MOT and Tax
  • Be a UK registered vehicle
  • Recommended availability at 15 days a month (incl. 6 weekend days)
  • ABI group below 45

Karshare is now open to car owners in Bristol, Manchester, London, Coventry and Birmingham. To start sharing your car, visit https://karshare.com/car-sharing/ or book in a live demo or call with a member of our team by emailing help@karshare.com