Motorists make money from 'peer-to-peer' car rental service

A "peer-to-peer" car rental service in Australia has announced the launch of a new GPS tracking option aimed at giving car owners greater peace of mind.

DriveMyCar Rentals, an online service that brings car renters and owners together, thereby allowing people to make money from "their second largest asset", said the GPS system allows owners to track the position of their vehicle at all times when it is being rented.

Promoting the benefits of the site, Daniel Noble, founder of DriveMyCar Rentals, said that drivers did not have to worry about vetting renters or having to compare car insurance beforehand.

"We understand some people may have hesitations about renting out their car. While we provide full insurance and driver checks to ensure the security of private vehicles, we wanted to add another layer of protection," he said.

"The GPS system allows us to keep track of all rental cars – and provides owners with the knowledge that their vehicle can be located at any time."

DriveMyCar Rentals said it currently has more than 5,000 registered users across Australia and up to 37 different car models available.

It added that renters can potentially save up to 60 per cent when compared to traditional car hire providers while car owners also earn some extra cash.

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