Car-Sharing on the rise in Europe

Date: 5 OCT 2016posted by Car Rentaledited by WinX

Car-sharing has become a prominent way for car owning in Europe. With rising fuel prices and overhead a lot of people have turned to peer-to-peer rental sites to make car ownership more affordable. The business model is very similar to Airbnb - car owners post their vehicles on a service's website and users ask to rent them out. The sites take a percentage of each transaction to provide for road side service, insurance for damage, theft and liability and their overhead. Owners are allowed to set their own rates, starting from €15-€100 a day, depending on the class, year and model and at a discounted price for long-term rentals. The renters are responsible for fuel. This business model provides car owners a way to pay for their monthly payments by just renting out their new vehicle a week every month. And this allows people the luxury of a vehicle when travelling but not worry about ownership and hefty rental services price. While this type of peer-to-peer business has bloomed in Europe, it has been a tougher sell in the US. The spread of on-demand transportation options, such as Uber and Car2Go and Zipcar, makes the car-sharing business model a tough sell.

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