Understanding your invoice - for car owners

Monthly invoicing

For details on timing of monthly invoicing and payment, see "How and when will I get paid?"

Your PDF invoice can be downloaded from your Account page after the end of each month. It contains the full detail of all of your car's trips, plus membership fee, commission, fuel card charges and tolls. 

Your Income

When a Borrower uses your car, you receive

  • Time income: Either 50% or 75% of the time charges. You can set your own hourly and daily rates. Borrowers are charged by the hour up to 5 hours in a single 24-hour period, and then charged by the day.
  • Distance income: 25 cents per kilometre that the Borrower drives. A GPS unit in the car records the number of kilometres travelled by Borrowers. 

Fuel charges

You may see charges on your invoice for your car's fuel card. These charges may be higher or lower than the amount of fuel that borrowers have used that month, which can be confusing.

Fuel is charged to you in the month it is purchased, while the borrower pays for it in the month their trip ends, so it can sometimes seem as though you have paid more for fuel than you got paid back for. 

To understand how fuel charges work, see 'How do Borrowers pay for the fuel they use?'

Monthly membership fee

You will pay a membership fee each month. 

Your membership fee replaces any comprehensive insurance and roadside assistance charges you used to pay, and includes:

  • Coverage for your car under our comprehensive insurance policy - if you used to pay more than this for your insurance then you're already ahead!
  • 24-hour roadside assistance
  • Marketing activities to find local borrowers for your car
  • The use of Fred to secure your car and let you share it without meeting Borrowers to exchange keys; and
  • Our 24-hour member hotline to help resolve any issues relating to a Borrower’s booking.

Understanding your overall financial benefit

To work out how much you are actually benefiting from renting your car out, you will need to look beyond the 'Closing Balance' on your account (the amount that goes in to your bank account) and understand a bit about your car's running costs.

Read: How to work out your car's earnings after costs

Was this article helpful?
1 out of 1 found this helpful

Comments

0 comments

Please sign in to leave a comment.