Are you looking for a way to make extra cash, but you don’t have much extra time to work? Joining Maven car sharing for owners could be a way to earn several hundred extra dollars each month.
The only time you have to put into this side hustle is the time you spend cleaning your car and the time you spend dropping it off or picking it up.
Here’s what to expect when you join Maven car sharing for owners.
- Car sharing app that allows you to rent your GM vehicle
- Limited to certain cities currently
- Earn more by simply keeping your vehicle listed, whether it rents or not
What Is Maven Car Sharing for Owners?
Maven car sharing for owners allows car owners (with GM models 2015 or newer) to list their cars for short-term rentals.
When a Maven customer reserves the vehicle, the car owner drops the car off at a designated location. The owner then leaves the keys in a lockbox. The person reserving the car gets the keys from the lockbox, drives for a set period of time, and returns the vehicle to the designated location.
Maven covers the cost of insurance while renters drive the car. Additionally, owners can choose when their car is available to rent.
Right now, Maven operates in Baltimore, Boston, Chicago, Denver, Jersey City, Los Angeles, San Francisco, Southeast Michigan (Ann Arbor), and Washington, D.C.
How Much Can I Expect to Earn?
Maven car owners earn 60% of the rental price of the vehicle, but owners have very few expenses. Maven covers 100% of insurance costs associated with rentals. Plus, drivers get free access to OnStar benefits.
Car renters are expected to refuel the vehicle before returning it. Owners are expected to pay for maintenance costs on the car.
As a car owner, you set the rate for rentals. During big events (like huge concerts or the Super Bowl) you may be able to raise your rental rates. Maven will recommend rates for car owners, but you can choose rates on your own.
In addition to the rental income, you can earn $150 every 3 months for listing your car for at least 15 days each month. On top of that, you can earn referral bonuses if your friends start listing their cars.
Most car earners can expect to earn a maximum of about $500 per month with some owners earning less.
Do I Get to Pick My Hours?
Maven car owners can choose when their car is available for rent and when they need it for personal use. The Maven app allows owners to set the car availability in 30-minute increments. Owners can change their car’s availability anytime as long as it isn’t rented.
If you live or work near a downtown hub or close to an airport, listing your car could be an easy part of your everyday life. However, if you need your car, or you live out in the suburbs, listing your car could be a pain.
Maven Car Sharing Alternatives
Maven isn't the only car sharing service in town. In fact, it's one of the most limited.
The original car sharing service is Turo. Turo allows you to list your car for rental, and it's much more flexible than Maven. You can list more than just GM cars, and you can park it for pickup and drop in more places.
Does Maven Car Sharing Make Sense for Me?
Maven car sharing isn’t likely to make you rich, but it’s a decent way to take a depreciating asset and earn some cash flow from it. People who enjoy driving nice, clean cars can use Maven to monetize an expense that otherwise takes a lot of money out of their pockets.
Overall, the hustle isn’t too time-intensive, and it can make a lot sense if you live or work close to one of Maven’s designated drop-off zones.