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Getaround App Review: Make $800/Mo Renting Your Car?

Getaround Review - Is It Legit?

What is Getaround?

Getaround is a peer-to-peer carsharing marketplace that allows car owners to rent out their vehicles to others. It operates in over 300 cities across the United States.

Getaround Sign Up

Here's how it works:

  • Car owners list their vehicles on the Getaround platform, setting their own availability, pricing and rules.
  • Renters browse available vehicles in their area through the Getaround website or mobile app.
  • Renters book and pay for vehicles instantly, usually by the hour or day.
  • Renters access the vehicles using Getaround's proprietary Connect technology installed in each car.
  • Car owners earn income from the rental fees paid by renters.

In essence, Getaround provides a way for car owners to generate extra income from cars that would otherwise sit idle, while renters get convenient access to vehicles on demand.

Getaround has been operating since 2010 and has become a leader in the peer-to-peer car sharing space. The company aims to provide an eco-friendly alternative to traditional car rentals and ownership. By facilitating shared access to vehicles, Getaround helps reduce overall car usage and emissions.

Payment Methods

Getaround offers several payment methods:

  • PayPal - Earnings are paid out to car owners' PayPal accounts every 15th of the month.
  • Direct deposit - For U.S. car owners, earnings can be deposited directly into a bank account.
  • Check - U.S. car owners can request earnings to be paid by check if thresholds are met.

There are no payout thresholds, so car owners receive earnings every pay period regardless of the amount. Payments are handled seamlessly through the platform. Funds become available within 3 business days after the end of each pay period.

Earning Potential

Income potential on Getaround varies quite a bit depending on factors like:

  • Vehicle type, age and condition
  • Pricing and availability set by the owner
  • Location and local demand for rentals
  • Owner's ability to market and optimize their listing

Some owners report earning over $800 per month, while others earn very little. Having a newer, high-demand vehicle in a busy metro area provides the best earning opportunity. The most successful car owners on Getaround tend to be those who are highly engaged in the platform - frequently updating availability, optimizing pricing, providing a great renter experience, and maintaining a high listing rating.

Getaround takes a 40% commission on rental earnings. Owners also pay a one-time $99 Connect installation fee and $20 monthly subscription. While the fees seem reasonable, it's important to factor them in when determining if Getaround will be profitable for you based on your earning potential.

Available Platforms

Getaround is accessible on:

  • Getaround website
  • iOS app
  • Android app

The apps and website provide the same functionality for browsing, booking, managing vehicles, messaging renters, etc. The platform is user-friendly and convenient to use on the go. The mobile apps have generally positive reviews in both the Apple App Store and Google Play Store.

How to Join

Becoming a Getaround car owner involves a few steps:

  1. Create an owner account
  2. List your vehicle by providing details, availability and pricing
  3. Get your vehicle inspected and approved
  4. Schedule Connect device installation (provided by Getaround)
  5. Complete your profile and publish your listing
  6. Respond to booking requests and earn income!

The approval and setup process takes about 1-2 weeks before you can start hosting rentals. Getaround will inspect your vehicle to ensure it meets their age, mileage and quality standards. The Connect device is installed to provide keyless access for renters and GPS tracking.

Once active, you'll want to provide the best possible listing details and photos to attract renters. Be sure to set a competitive price, especially when you're first getting started. You'll also need to commit to keeping your availability and calendar up to date so renters know when your vehicle is available.

Conclusion - Pros and Cons

Pros:

  • Provides extra income from an otherwise idle asset
  • Convenient online and app-based platform
  • No payout thresholds
  • Reasonable payment methods like PayPal and direct deposit
  • Getaround provides insurance coverage

Cons:

  • High competition in some markets
  • Earning potential varies greatly and is not guaranteed
  • Upfront and monthly fees
  • Need to meet vehicle requirements
  • Damage/excessive wear and tear risks

Summary

Overall, Getaround provides a legitimate opportunity to earn extra income by renting out your car when you aren't using it. However, success highly depends on your vehicle, location, and ability to market yourself.

The platform is easy to use, and the onboarding/approval process is relatively straightforward. But rentals and earnings are not guaranteed. If you go into it with realistic expectations, provide a great renter experience, and actively work to optimize your listing, you have a good chance of building up steady rental income over time.

Getaround is worth considering if you have an eligible vehicle and live in a busy metro area. Expect to invest some time and money upfront, and manage risks around wear and tear. With the right approach, many owners earn solid side income. But go in with a cautious and patient mindset until you start to get consistent rentals and good reviews.

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