Uber Drivers Renting Cars From Owners is Opening a New Way to Make Money in Transportation

By Yelena Mandenberg Yelena Mandenberg has been verified by Muck Rack's editorial team
Published on October 1, 2018

A new trend has Uber drivers renting cars from owners, and it’s opening up a new stream of income for a lot of people. Thousands of people want to work for Uber but don’t have their own transportation. So they rent a car from someone who normally doesn’t use it throughout the day, giving car owners a new way to make money.

As Uber changes and adapts to different laws in different states, entrepreneurs will always find a way to open up profitability. Joe Furnari, CEO of HyreCar, created a unique platform that allows anyone with a car to rent it out to Uber and Lyft drivers. Users report nearly $14,000 of extra income a year through this app.

Apps like HyreCar speak to the “millennial mindset” according to Furnari – allowing people another option towards financial freedom. HyreCar’s recent partnering with auto dealerships across the country enables more millennials and those who need it a “path to ownership.” Being able to own a car makes a huge difference in opportunities for many across the country.

HyreCar is convenient and easy to use for Uber drivers renting cars. Downloading the app and signing up takes minutes, and once a consumer has found the right deal on a vehicle, they can sign up to Uber or Lyft and start driving as soon as possible. Similarly, for car owners with unused assets, this app can create an easy path to a new revenue stream.

Some savvy individuals who have enough extra assets have even created fleets of cars that they rent out to Uber and Lyft drivers. Currently, one user in Denver has a fleet of eight vehicles available for use.

As ridesharing programs are climbing in popularity, HyreCar explains:

“It’s no surprise that Uber and Lyft have been game changers in the world of transportation. In fact with tech advancements rapidly evolving, global on-demand transportation profits will hit $290 billion by 2025, with more people opting for low cost ride-sharing options, and with more giggers looking for way to earn some extra income.”

“Mobility as a Service (MaaS) is rapidly changing the way we use transportation, and we are at the forefront of this shift and using it to our advantage as a carsharing platform. We are enabling car dealers and OEMs to enter the sharing economy and benefit from it by renting their idle assets to the thousands of rideshare drivers who sign up for Uber and Lyft without a qualifying vehicle. We are giving these car owners a new opportunity to scale their businesses.”

It’s clear that technology is changing nearly every single industry and creating brand new jobs that have never been heard of before. HyreCar’s ability to create a path to a new form of income is something they boast about, for the right reason. Turning an asset that previously had no use into a viable amount of money is something every millennial is into.

By Yelena Mandenberg Yelena Mandenberg has been verified by Muck Rack's editorial team

Journalist verified by Muck Rack verified

Yelena Mandenberg is the Ideas Editor at Grit Daily with a passion for news of all sorts. Finishing Brooklyn College with a degree in Print Media Journalism as the industry died out, she began working as a freelancer.After spending some time working in the retail industry, Yelena started BK Riot Writing, a marketing company that caters to small and local businesses, creating content that helps them compete. From her South Brooklyn apartment where she lives with her cat & tortoise, Yelena is always seeking something new and interesting to cover.

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