LOS ANGELES — Auto dealers and fleet operators are now accessing HyreCar’s peer-to-peer vehicle rental platform, a “turnkey” program designed to monetize idle units as short- to long-term rentals for Uber and Lyft drivers.
Founded in 2014, HyreCar initially targeted individual vehicles owners; today, about half of the platform’s vehicle owners are commercial vehicle owners, including a number of independent auto dealers, according to Chief Business Development Officer Mike Furnari.
In an exclusive interview with Auto Dealer Today, Furnari said the company’s expansion represents an opportunity for auto dealers to open a new revenue stream and keep pace with the evolution of the industry. He noted that dealers can set per-unit mileage limits and HyreCar insures drivers up to $100,000 liability and $25,000 in physical damage for the duration of each rental.
“We have dealers who are shifting their business models because they see mobility as a service coming down the pike and want to dip their toes into the Uber and Lyft market,” Furnari said. “These are billion-dollar companies, and they’re not going anywhere anytime soon.”
Originally posted on F&I and Showroom