• 47% of drivers say they would be happy to rent out their car to a stranger through an Airbnb-style arrangement
• 37% believe it is a good way to make money from their car when it’s not in use
• However, 36% wouldn’t trust others to be careful with their car, shows March’s new Startline Used Car Tracker.

March’s new Startline Used Car Tracker shows that 37% believe it is a good way to make money from their car when not in use, while 28% would trust the rental company to make relevant safety and security checks.

Also, 18% say this kind of passive income is a useful way to handle the cost-of-living crisis and 12% it would be a good deal for the person renting the vehicle. 

However, 38% wouldn’t be comfortable hiring out their car, 36% don’t trust others to be sufficiently careful, 24% think the risk of a nightmare renter isn’t worth the extra cash, and 20% believe damage or theft would be real possibilities.      

Paul Burgess, CEO at Startline Motor Finance, said: “This question was prompted by the recent launch of an Airbnb-style service for cars in the UK and we wanted to find out how many people would be willing to hand over their car to someone they didn’t know.

“It’s perhaps surprising to see so many people willing and it shows how far the idea of the ‘sharing economy’ has become part of everyday life for a lot of people. They don’t feel notably possessive about their car and are happy to rent it to a stranger and earn extra cash.

“However, there are almost an identical number of people who just believe too many things could go wrong with the rental process and their car could end up damaged or even stolen. These are understandable concerns.”

The Startline Used Car Tracker also asked whether drivers would rent someone else’s car through a similar arrangement – 51% agreed.                                                                                

Paul said: “It’s interesting that our data shows the people who would be willing to rent out their car are basically the same ones who would be interested in renting on the same basis. They have clearly embraced the whole peer-to-peer concept.”

The Startline Used Car Tracker is compiled monthly for Startline Motor Finance by APD Global Research, well-known in the motor industry for their business intelligence reporting and customer experience programs. This time, 301 consumers and 61 dealers were questioned.