Convenience, comfort and accessibility come in handy with car ownership but what if we told you - your car can be a source of generating income for you as well? Car ownership in Singapore is an expensive affair, but if you are someone who already owns one or are planning to buy one - a car sharing platform is bound to help you cover the costs involved.
What Is Car Sharing?
Car sharing refers to when you choose to rent out your car or rent a car through a peer-to-peer car rental app for a period of time. Unlike taxis or ride-sharing brands, car sharing gives the person renting the car the freedom to drive it car on their own with a third-party company organizing these rentals. To share your car, all you have to do is list your car on a car sharing platform in Singapore like Drive lah, which lets your car make bank even while you sleep.
Advantages Of Renting Out Your Car
Insurance payments, fuel costs, repair and maintenance costs, road taxes and a few other expenses will always be recurring for all car owners in Singapore. Apart from the initial costs involved with car ownership, the per month costs for owning a Honda Jazz as we had calculated in our blog on "The real cost of owning a car v/s car sharing in Singapore" sums up to roughly SGD 1316.86. This however will vary based on your car usage, road tax as per your car's engine capacity, car park charges, loan instalments and other such factors. Sharing your car, however, can give you the freedom from having to bear these costs from your own pocket.
Here is how sharing a car can benefit you:
Passive income: The primary benefit remains that your car can make you money without you actually having to invest any time in it. Once listed on a car rental app for sharing your car, you can manage bookings worry-free and your car and bring in earnings without any additional supervision required.
Keeping the engine going: Your car's battery could die or the tires could go flat or there could be rust in your car parts if your car is left around lying idle for a very long time. When you rent out your car, the car is mobile even when you aren't using it which ensures that the car is in a mobile condition.
No need to pay for a driver: Since the cars from peer-to-peer car sharing platforms are driven by individuals themselves, you don't need to hire a driver to let your car earn for you. Individuals can choose to pick up and drop off their car on their own rather than having to worry about getting the car delivered to a particular location.
Contribution to greener living: More cars being rented out means lesser individuals looking to own a car. This helps in reducing the carbon footprint as well as pollution and carbon dioxide emissions. With fewer cars, the roads aren't too congested as individuals will rent only when necessary rather than driving around (just for fun).
Hosting Your Car: How Does Car Sharing In Singapore Work?
To host your car on a car rental app or car sharing platform in Singapore, here are the steps you need to follow:
Check for the eligibility of your car. Some car sharing platforms tend to have policies wherein your car shouldn't be older than a certain number of years or shouldn't have been driven more than a particular number of kilometres.
Once you see that you tick all the criteria for listing your car, you then need to register on the platform to list your car.
Add in all the details and essential documents. From car model to bank account details for accepting payment, everything needs to be mentioned for you to start sharing your car.
Users looking to rent a car in Singapore would most definitely want to see the pictures of your car. Take pictures of a clean and well-kept car.
Add all features such as the number of seats, transmission, fuel type and other relevant details.
Decide on rules such as whether pets are allowed, smoking is allowed, mileage per day, etc.
You then need to set the availability of your car. Some users might be looking to opt for hourly car rental in Singapore while others would want to go for long term car rental in Singapore. You can choose if you want to rent your car for a few hours, or a few days or want to allow just 1 day car rental in Singapore.
All necessary details added, you now need to decide the rental rate for your car. If you are wondering how much your car can earn, you can check that here with Drive lah's earnings calculator.
Once listed, it's now time to wait for booking requests. Accept as per your convenience anytime.
Become A Host: Car Sharing In Singapore With Drive Lah
Drive lah is Singapore's largest peer-to-peer car sharing platform that lets hosts like you connect with users looking for car rentals in Singapore. We are the only car sharing platform approved by LTA where car owners can rent out their cars in Singapore. Hosting your car on Drive lah is free, all you have to do is sign up on our platform and fill in the required details. A simple and secure way to let your car earn for you, Drive lah gives you complete flexibility and freedom to decide the rental rate, rules for renting your car and its availability. See the video below to know how you earn by sharing your car on the best car sharing platform in Singapore:
Set Up Your Account In Less Than 10 Minutes With Drive lah
The process to complete registration on Drive lah is extremely easy and quick provided that you have all necessary documents in place. To start earning, follow this easy process:
Visit https://www.drivelah.sg/ .
Click on the "Join now" button on the top right corner and register with your email address.
Get your phone number and email address verified.
Help the guests to have a face to the person they are renting a car from by adding your profile picture. https://www.pexels.com/photo/smiling-woman-sitting-inside-car-1399282/
Press the "list your car" option at the top right corner.
Enter details by following the instructions given on each page. The sections are as follows:
Location: Since guests want to rent nearby cars, the location that you add will be the pick-up point for those guests who wish to rent your car.
About: Add all the basic details about your car as well as a description to help guests make an informed decision when renting your car. You'll also be required to add details such as car model, registration number, nearest MRT/Bus stop, etc.
Car features: Seats, transmission, fuel type, availability of aux input, Bluetooth, cruise control, child seat, sunroof, GPS and other such features that your car has can be added in this section.
Car rules: You can choose if pets are allowed, smoking is allowed, the car can be driven to Malaysia and if the car isn't suitable for kids. You can also add the mileage allowed per day. In case you want to add any specific instructions, you can type them here as well.
Pricing: You can set a regular price for your car and add a peak price as well which will be shown during all public holidays in Singapore. You can also choose to give an option for long-term rental of your car in this section.
Promotions: Adding discounts will encourage guests to book your car.
Pictures: Click photos of your car to let the guests know how your car looks from the outside and inside as well.
Insurance: When on a Drive lah trip, your car will be comprehensively insured. In case you have an ongoing private insurance policy, add details of the same as well.
Availability: Add the dates for the availability of your car for rent.
Easy access: You get an option to choose whether you want to enable instant bookings and home delivery and pick-up.
Verification: For host verification, you'll need to add a copy of your NRIC/FIN.
Payouts: Details for processing the payment to your bank account post the trip has ended.
7. With all the relevant details filled in, our team verifies all the data. Only then can guests rent out your car.
8. Once your details are verified, all you have to do now is, wait for booking requests to come in and accept them according to your convenience.
9. You will receive the payment for the trip within 3-5 days of the trip in the bank account you have added details of.
Some Questions We Have Been Frequently Asked
Here are a few queries that others like you who have listed their car before on Drive lah have had. Read on to find answers to some of the frequent questions we have been asked:
How much money will I make by hosting my car on Drive lah?
Your earnings are dependent on the availability of your car for rent. The more the number of days you rent your car out for, the more will be your earnings. On average, hosts can easily make SGD 2,000 or more on average by renting their car with us. You can calculate your earnings with our easy-to-use earnings estimation tool.
What protection does Drive lah offer in case of any damage to my car?
Drive lah offers comprehensive insurance from Tokio Marine and NTUC Income for your car during the rental period. Our insurance coverage is bound to protect you fully in case your car gets damaged.
Is it really safe to rent out my car to someone I don't know?
It is absolutely safe to rent out your car with Drive lah. We value your peace of mind and so, all drivers are put through a robust screening process. We carry strict checks on guests who wish to rent a car through their NRIC/FIN and driving license. Your car will be rented out only to verified drivers. And well, in the end, it's you who will always accept bookings and so, you'll have full control as to who drives your car.
Once listed, is it compulsory to rent out my car?
Drive lah gives you complete flexibility and freedom to rent out your car only when you wish to. You can set the availability of your car as well as accept and reject requested bookings at your convenience.
Can the guest drive my car to Malaysia?
Whether or not you want to let guests drive your car to Malaysia is up to you. You can choose to not allow your car to be taken to Malaysia by mentioning the same under the rules section on the host dashboard. In case you have mentioned that your car cannot be taken to Malaysia and a guest still does so without your consent, Drive lah will levy a heavy fine on the driver in line with our fees and fines policy. Additionally, these guests are blacklisted on our platform.
What do hosts who list their Car on Drive lah say
Here is what those already listed on Drive lah are saying about their car sharing experience with us:
“Drive lah has a great and very responsive customer service team. It is an easy and hassle free platform for me to rent out my car for extra income rather than keeping my car idle when not in use. The instant booking feature is great! No confusion and is clear cut.”
- Shareen Tan
“The Drive lah team makes the experience of car sharing relatively stress-free. They are an awesome group of people to work with - quick to respond, always ready to help, positive and open to suggestions for improvements. Keep up the good work!”
- Shimei He
“Convenient way to rent out your car with insurance covered. Hassle free!”
- Jonathan Lai
“Drive lah is a safe, easy and convenient platform for car owners to lease their unused car 24-7 for extra income to offset their car maintenance in Singapore. Thanks Drive lah!”
- Ben Chan
“Drive lah strives to be the Best-Second to None! It is innovative, dares to create new pathways, people centric and always delivers on its service! Drive lah is committed on building trust within the community it serves.”
- Even Lim
With minimal time and effort, let your car work for you while you sleep. Register today at: https://www.drivelah.sg/become-a-host
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