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How much money / income will I earn?

SHORT ANSWER:

Our average established Owner earns around $3,500 a year, and our top Owners earn over $7,000 a year. 

Your car earns money for both the time it is booked, and the distance it is driven. 

You earn:

  • 50% of the first $240 of time-based income your car brings in each month, and 75% of time-based income above that; plus
  • 25 cents for each kilometre it is driven.

For example, if your car made $500 and travelled 100 kilometres in a month, you would be paid: 

  • 50% of first $240 = $120
  • 75% of remaining time-based income ($260) = $195
  • 25 cents x 100km = $25
  • Total: $340

MORE INFO:

It is difficult to predict you car's earnings precisely. The average number of bookings is between 6 and 9 a month, but some cars are booked much more frequently.

Some cars are busy right away, but for others it will take a few months to build up a group of regular borrowers. There are many variables that affect how often a car is booked, including the car's location and seasonal demand. However the most important are: 

(1) availability; and 

(2) length of time on the platform.

The more competitively you set your rate, the more hours you make your car available (particularly on the weekends), the more you're going to earn.  

Doing additional promotion of your vehicle in local hotspots, with some tools we provide you, will also help.

For optimal earnings, we recommend maintaining an availability of at least 70% on weekdays and weekends. The cars in the top 10% earnings bracket have an average availability of 90% in both periods.

In the first few months, it may take a while for bookings to build momentum.  This is completely normal and to be expected. Car owners should give it a minimum of 6 months to allow bookings to build, as more local people become aware of your car's availability through our marketing initiatives.  It will likely grow year on year after that.

Why does Car Next Door take a share of my income?

 

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