A peer to peer car lending platform that allows people to rent out their cars for different periods of time, similar to the AirBnb model for cars.  Individuals can rent out their cars for a day, week, or month.  A way to periodically make extra cash for individuals with cars, as well as a lower cost option for those who need a vehicle for a temporary period of time.  The platform, like Uber, is a business which can be set up and run globally with zero car inventory.

In Practice

If you wanted to borrow a car for a day trip, but don’t have easy access to a vehicle; you can use this platform to borrow a car from someone in the area for a lower cost then normal car rental sites.  The person borrowing the car would have a credit card hooked up to the platform, along with the insurance through the app to cover the liabilities.  GPS would also be used to ensure the car is returned by the appointed time.

Additional Thoughts

All of the transactions would take place through the app to reduce the risk and liability for each individual.  The risk would then be spread out across enough people to lesson the total liability.  This simple convenient option could help cause a radical change in the car rental industry, which is often highly priced with few alternative options available.

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