rent out your car?

[WhineandDine1]

Hi all I wasn't sure where to post this but hopefully will get some answers here!

DP and I are moving to Australia for a year in May. The initial plan was to sell our car and buy a new one out there, but I've found a website carclub.easycar.com/home/carowners where you can rent out your car (it seems a lot of people who live in London and rarely drive do it.) It won't make much money- according to the calculator I'll get around £90 a month but that's still £1080 we will come back to. Has anyone ever done anything like this or know more info on it?

Nice idea but who is going to run this while you are away? Someone is supposed to check the car after every hire.

Gig economy in action ...

The idea is that I'd rent it out to just one person for the whole year. I've read around on some forums etc and it seems often students studying for a year or people working just for a real often hire out cats

I think you have to ask yourself why this is an idea that hasn't caught on. its fraught with issues in terms of wear and tear on the car, parking tickets - who would be liable, what if they do a runner and dump the car somewhere, what if they miss a payment, how will you get the car back off of them if you aren't here. renting out your flat whilst you go abroad for a year is hard enough but a car - nope wouldn't touch this idea with a bargepole.

How much will your car depreciate over the year?

I definitely wouldn't consider it either- easier to sell the car, bank the money, buy another one when you return.