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Relay Rides – Really Cool Way to Make Some Extra Money With Extra Car Sharing

Written by Steve Rhode

An article about the new feature of Realy Rides really intrigued me. Starting soon owners of GM vehicles with Onstar will be able to remotely rent out their cars by the hour using a smartphone app.

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Rely Rides launched in 2010 but has been spreading it’s wings across the country. And now that the investment division of General Motors has purchased in to Rely Rides and entirely new market has opened up for available cars.

The concept is simple and brilliant. Owners of vehicles that want to turn the sitting lump of metal into cash can post the availability of the vehicle on the Rely Rides site. People that want to rent can find a local personally owned vehicle to rent by the hour.

Right about now you might be thinking about the same thing I did, what about the insurance issue. It seems Relay Rides solved that issue. Through Relay Rides both renters and owners are covered with their provided coverage. And let’s not forget the included roadside assistance.

Tell you what, I actually wish I had an extra car so I could rent it out.

Relay Rides makes it’s Benjamin’s by taking a cut of the rental action and keep 40 percent of the rental fee. That means the owners get the lions share, at 60 percent. But the 40 percent Rely Rides takes covers the insurance coverage, so you don’t need to worry about setting that up.

Rely Rides also claims it screen potential renters to filter out those with bad driving records or unconfirmed identities. Kicking the wannabes to the curb, so to speak.

About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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