The Sharing Economy: How to Put Your Car To Work

THE SHARING ECONOMY: HOW TO PUT YOUR CAR TO WORK Are the costs of owning your car outweighing the joys of it? Why not put your car to work for you? HOW TO TO TAKE PART IN THE RIDESHARING ECONOMY UBER LYFT RELAYRIDES GETAROUND Drive others around Drive others around Rent out a car you Rent out a car to in a vehicle you rent, with any vehicle that has your name on its insurance policy. own to other drivers. other drivers. lease, or own. CUT - How much of drivers' profits the ridesharing service gets. 28% 20% 25% 40% Uber Lyft RelayRides GetAround UBER REQUIREMENTS UBERX (BASIC) 21 Age 21+ iPhone 4s or newer; 4-door Vehicle Year 2000+ Vehicle must Photo of current Name on Android 2013 or pass mechanical/ safety inspection vehicle insurance card newer registration In-state Vehicle In-state driver's Licensed driver Vehicle must Pass a Pass a 7-year driving record for 1+ years have in-state background check insurance license plates check ADDITIONAL REQUIREMENTS UBERXL UBERPLUS Seat at least 6 Minivan or SUV Seat up to 4 Leather interior Entry-level luxury sedan Year 2007+ Name on passengers passengers and 4 doors the vehicle's insurance policy UBER BLACK AND UBER SUV Year 2012+ Luxury vehicle Commercial May be required registration & vehicle to have an airport permit (varies by city) insurance WHAT WILL GET YOU REJECTED A DUI or DWI in the last 7 years A criminal history Vehicle with a salvage title LYFT REQUIREMENTS 21 Age 21+ iPhone 4 or 4-door Vehicle Year 2003+ Vehicle must Must have in-state newer running ioS7+; Android have current insurance registration running 4.0+ Name on In-state Licensed driver Vehicle must Pass a Pass a background check the vehicle's driver's license for 1+ years have in-state "Welcome Ride" insurance policy plates check WHAT WILL GET YOU REJECTED A DUI or DWI in the last 7 years A criminal history Vehicle with a salvage title More than 3 moving violations (traffic light violations, accidents, etc.) in the last 3 years A major driving violation (reckless driving, driving on a suspended license, etc.) in the past 3 years RELAYRIDES REQUIREMENTS 21 25 If under age 25, ability to demonstrate 2 years of U.S. licensed driving history Age 21+ Must own a mobile Year 2005+ Vehicle must have phone in your name that can be verified via text message fewer than 100,000 miles on it Vehicle must Valid personal Vehicle must Must have Vehicle must comply be registered under your name a current (non-temporary) driver's license have a value of insurance on with all safety, up to $75,000 the vehicle operation and maintenance laws WHAT WILL GET YOU REJECTED A vehicle that does not meet legal inspection requirements Manual transmission vehicle GETAROUND REQUIREMENTS May need to submit documented proof of last major service performed on vehicle Vehicle cannot have Schedule and record regular maintenance as recommended by the vehicle manufacturer Year 2005+ Vehicle must have Vehicle must Vehicle must have a value of up to $75,000 have 4 wheels and seat no more had its engine altered for greater fewer than 125,000 miles on it than 8 passengers performance WHAT WILL GET YOU REJECTED A vehicle that does not meet legal inspection requirements RELAYRIDES will cover your listed vehicle with its $1 million liability policy INSURANCE CONSIDERATIONS during each rental. In most cases, you need to make sure If your car is extensively damaged by a RelayRides renter, the renter may also be responsible for paying the actual cash value of the vehicle. your name is on the vehicle's insurance policy, and that your policy meets the GETAROUND also ensures every rental car up to $1 million. They also provide roadside assistance and a 24/7 helpdesk. minimum state requirements. FUTURE OF RIDESHARING INDUSTRY While the future of ridesharing is uncertain, it seems likely that it will continue to grow. THIS GROWTH WILL BE INFLUENCED BY: Further technological A seamless connection of integrations and open source data sharing public transit and ridesharing services Further development of "casual carpooling" programs, Supportive governmental policies that promote ridesharing as a way to decrease energy consumption where ridesharing meetup It's also likely we'll see "ridematch aggregators" in the future; websites that search all ridesharing databases for you, much like travel deal websites now. OPonv TM Pony Parts SOURCES: UBER | LYFT | RELAYRIDES | GETAROUND http://www.ridesharingdriver.com/uber-driver-requirements-qualify !!