When a Borrower uses your car, you receive
- 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.
- 25 cents per kilometre that the Borrower drives. A GPS unit in the car records the number of kilometres travelled by Borrowers.
You will pay a membership fee each month. This will vary depending on the membership plan you choose.
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
- 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.
For details on monthly invoicing, see "How and when will I get paid?"
Your monthly invoice shows the breakdown of time and distance income for each reservation, plus Car Next Door's commission (our share of the gross income from each trip).
The key amounts to note are:
1) Your Share of Trip Income, which is how much money you earned (not including any costs).
2) Closing Balance, which is your net income (total income from a booking/all bookings) minus your personal costs, e.g. fuel, your own tolls, and your membership fee (which includes everything set out above).