RelayRides announced March 5 that it is expanding and is now available to car owners and renters nationwide. This makes RelayRides the first peer-to-peer car-sharing company available across the U.S.
RelayRides is also announcing its new “key exchange” program. Key exchange is a way for renters and drivers everywhere to quickly begin participating in RelayRides’ service by arranging for owners to give the keys to the renter. The new service allows consumers to enroll instantly and make money from their vehicles or rent a vehicle at some of the lowest prices available in the U.S.
Covered by a $1 million insurance policy and market-leading security safeguards, RelayRides owners can make an average of $250 per month in revenue while providing drivers with access to a vehicle for as little as $5 per hour. Depending on location and availability of the car, owners can make upwards of $7,000 per year. RelayRides is backed by more than $13 million in venture capital funding from leading investors, including Google Ventures and GM Ventures.
“Since the day we first launched in Boston, we have received thousands of requests to expand into more communities,” said RelayRides Founder and Chief Community Officer Shelby Clark. “Today, we are thrilled to be able to finally meet this demand. Now that RelayRides’ marketplace is available across the nation, every eligible driver can participate in this green, simple and economically sensible answer to the traditional car ownership model.”
RelayRides member Curtis Chong has made more than $5,300 since enrolling his 2006 Honda Civic in RelayRides about nine months ago. “The last time I checked Kelley Blue Book, my Civic was worth about $4,800,” Chong said.
With the addition of the key exchange program, RelayRides is adding a way for renters and owners to enjoy the benefits of car sharing anywhere in the U.S. The company also recently forged a partnership with GM that will make all six million cars subscribing to OnStar “RelayRides-ready” in the coming months, with no hardware installation needed.
More information about RelayRides and its service is available at: http://www.RelayRides.com.