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How does the income guarantee work?

Car Next Door may offer a guaranteed minimum level of gross owner income to certain car owners that are listed on the platform. To remain eligible for the income guarantee, car owners must ensure that their cars meet the following criteria throughout the Guarantee Period.

Guarantee Conditions

The Guarantee Period starts on the first day of the calendar month after a vehicle is first made available for bookings, and lasts for 12 months.

To be eligible for the guarantee, a vehicle must, for the duration of the Guarantee Period:

  • Be 6 years old or less (based on the year of manufacture);
  • Have fewer than than 150,000 km on the odometer;
  • Be located in one of our high-demand suburbs of Sydney, Melbourne or Brisbane;
  • Be available for members (not including you or your additional drivers) to book from midnight to midnight at least 5 weekend days and 13 weekdays of each full calendar month during the Guarantee Period;
  • Stay priced at the rate recommended by Car Next Door;
  • Be available for approved Borrowers above the age of 21 to book;
  • Be made available (in the homezone, with the lockbox and key accessible) for every booking (except where this is not possible due to the actions of another borrower);
  • Not receive negative (“thumbs down”) ratings from borrowers formore than five percent of bookings;
  • Meet the vehicle eligibility criteria as set out in clause 4 of the Owner Supplement; and
  • Have the full suite of Car Next Door stickers on the car

The Owner must also comply with their obligations under the Owner Supplement, act in good faith and not do anything that is intended to, or likely to have the effect of, reducing their car’s bookings (for example, but not limited to, asking borrowers to cancel a booking or intentionally making it difficult for borrowers to access or enjoy the use of the vehicle).

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