It’s no secret that, aside from high-dollar collector models, cars are a depreciating asset. Worse, you’re paying for your car even when you’re not using it, which is why peer-to-peer car sharing services like RelayRides are growing in popularity.
The concept behind RelayRides is simple: subscribers make their cars available for rental to other RelayRides subscribers, and (assuming all goes as planned) generate supplemental income from their otherwise idle car.
RelayRides checks the driving record of prospective members and provides both car owners and renters with supplemental insurance, but many are still hesitant to turn their cars over to total strangers. Enter OnStar, who’s partnering with RelayRides to make the service both more secure and easier to implement.
Here’s how it works: an owner of an OnStar equipped vehicle logs on to his OnStar account and makes the car available for rental via RelayRides. Once a picture is uploaded, the car can be rented right away by anyone with a RelayRides account. More