HyreCar Review: Worth It? (An Inside Look)

HyreCar is a platform that claims you can earn money by renting out your car to rideshare and delivery drivers.

If you’ve got an extra car standing around, and you are looking for a way to earn extra money, this might be the opportunity for you.

However, before you go and sign up, I urge you to read this HyreCar review. It will give you an inside look at what the platform has to offer so you will know exactly what to expect before you even register.

Then, you will be able to properly evaluate if this is a good fit for you or not. So, let’s go ahead and take a closer look at what HyreCar is all about, shall we?

What is HyreCar, and what does it offer?

HyreCar is a car rental platform that offers an opportunity for car owners to earn extra cash by renting out their cars to rideshare and delivery drivers. It is indeed a legit platform since you can really earn from the opportunity it offers.

However, there are a few things you need to know before you sign up as a renter, and the best way to find out what those are is to examine the earning opportunity it offers. So, here’s how to earn from HyreCar.

The earning opportunity – Renting out your car

HyreCar is quite unique because it only caters to rideshare and delivery drivers. So, if you decide that you want to earn from this platform, expect your renters to be Uber, Lyft, etc. drivers.

The first step is to list your car so that drivers will be able to see it when they are searching for cars to rent. As you can see in the photo above, creating a listing involves several steps. And the most important step is to figure out the protection plan you want.

That’s because this is what will dictate how much you will earn from the car you rent out. A protection plan will affect the percentage of the earnings you will receive when a driver rents your car.

As shown in the photo above, there are four plans to choose from. The Basic plan nets the highest earnings (85%), but the coverage for damages, gas reimbursement, cleaning, etc. will be lower. The Premium Plus plan nets the lowest earning, but you have higher coverage.

These protection plans are also what allow HyreCar to list your car/s for free. Instead of charging you a monthly subscription, they will instead take a cut of the earnings you will make.

Choosing which plan to go for will mostly depend on your preference and which one you are comfortable with. In my opinion, going for the premium plan is the safest option, because you get the most out of both worlds (so to speak).

As for the pricing, you can set how much you want to rent your car for. You can set a daily, weekly, or monthly price for it. Weekly or monthly prices can encourage drivers to rent your car long-term. HyreCar encourages owners to use the pricing rate for each state when setting the price.

You have to keep in mind that you will be competing with other car owners, so you can’t set the price too high. You also can’t set the price too low, or you will end up losing money instead. After you complete your listing, all you have to do is wait for a driver to rent your car.

If a driver is interested in renting your car, you will receive a notification from the app (more on that later), and you will also receive an email. So, make sure to check your email inbox or the app frequently if you have created a listing.

When a driver rents your car, they must go to the drop-off point (your home, office, or somewhere else) to get the car. Before you hand over the keys, make sure to take a photo of the odometer because if the driver goes over the mileage agreement, they will have to pay extra. If the driver goes over the mileage limit, there is a fee of $0.25 per mile.

You can check out the Mileage Policy for more information about this. After the driver is done with the rental, they have to go back to the drop-off point and return the keys to you. Payment will be made after the rental is over, and I will discuss more on this in the next section.

This opportunity sounds very promising, but there are a few things you need to consider. While HyreCar does background checks for drivers, you can’t really be sure how good a driver they are. So, it is in your best interest to expect damage to your car at some point, in my opinion.

You have to be prepared for the expenses involved when that happens, which is why I wouldn’t consider this opportunity to be free, in my opinion. You will, at some point, as a car owner, have to shell out some money for maintenance.

Another thing you need to keep in mind is that you can’t just list any car. Your car must be in good condition and relatively new because, remember, drivers will use it for ridesharing or delivery. You can’t list old and beat-up cars because no driver will be interested in renting them.

Recommended: Check Out the Best Passive Income Apps

How do you get paid?

As mentioned above, payment will be made after every rental is finished. The payment will go through the HyreCar platform since they will have to deduct their commission from the total earnings.

Once HyreCar has deducted its share, your earnings will be deposited directly to your bank account, so you have to link your bank account to the platform to get paid. Expect it to be credited to your account within two to three business days.

The payment system of HyreCar is relatively straightforward, in my opinion. I like the fact that it offers a convenient payment method like direct bank transfer. If you are interested in more sites that offer a convenient payment method, I recommend you also check out the top sites that pay via direct bank transfer.

How much money can you make?

First and foremost, let me make it clear that there is no guarantee you will earn by listing your car on HyreCar. A driver must be interested in renting your car before you will be able to earn from it, and that’s not an easy thing to expect, in my opinion.

There are a few factors that you need to keep in mind. First, you must consider the make and model of your car. As explained earlier, drivers will prefer relatively new cars to attract potential rideshare customers.

Newer cars also tend to fetch higher prices compared to older ones. Another factor you need to consider is your location. If you live in a big city, then chances are there will be plenty of competition because there will also be a lot of car owners listing their cars.

Lastly, you also must factor in the longevity of the rental. If a driver decides to rent your car long-term, then you can expect to receive a sizeable amount. While that may sound promising, as I’ve mentioned earlier, renting your car to someone else also involves risks since you don’t exactly know how good a driver the person renting your car is.

So, if there is any damage to your car while it is out for rent, then you will have to spend money even though HyreCar does have coverage for this situation (but only to a certain extent), which is why you will not always come out on top (so to speak) when someone rents your car.

Personally, I find it risky to let someone else drive my car. There’s always a mentality that they won’t take extra care of the car since it’s not theirs in the first place.

Overall, I would say the earning potential of HyreCar will really be on a case-to-case basis in my opinion. There will be times when you will be able to earn good money, but there will also be times when you will end up losing money (when accidents happen, for example).

Can you use it on mobile?

HyreCar has a mobile app but it is only intended for drivers who are looking to rent a car. As a car owner, you will have to use a web-based member dashboard to manage your listing/s.

Fortunately, the site is optimized for mobile use, so you will be able to check your listings and accept rent requests using your mobile device. The user interface of their owner dashboard is also quite intuitive, and you will be able to see all the details of your listing, so you won’t have a hard time using it on a mobile device.

Who can join HyreCar?

HyreCar is only available in the US, so if you live somewhere else, then this opportunity is not for you. To sign up, you need to register as a car owner (refer to the photo below).

You can use your Google or Apple account to sign up. After you are done with the sign-up process, you can log in to the member dashboard and create your listing. The sign-up process is relatively simple, but creating a listing requires you to go through several steps, including providing a copy of your car’s Proof of Registration, Inspection, and Insurance.

So, make sure to have those documents ready if you decide to join this platform.

Can you get support?

If you have any questions about HyreCar or your account, you can check out the Help section of the dashboard. You can get to this section by clicking the Resources link inside the dashboard. Then, you just click the Help Center option and select Owner FAQs.

If you can’t find the answers you are looking for, just click the Contact Us link on the Help Center page and fill out the form to submit your inquiry. You can also submit a support request through the Support page of the website.

Overall, I would say HyreCar does provide decent support for its members since it offers a couple of convenient ways for you to ask for assistance.

Final Verdict

HyreCar is a legit platform that will let you earn by renting out your car to rideshare/delivery drivers. It has a couple of decent features, but it also has some risks you need to take note of.

To finish this review, let me summarize its pros and cons to give you an overview of what it has to offer. Then you can decide if this is the right opportunity for you or not.

In my opinion, HyreCar is not for everyone. If you are okay with other people driving your car, this can be an option, in my opinion. Just be prepared to cover the expenses if in case there is damage to your car when it is being rented because HyreCar will not be able to give you full coverage.

Personally, I find this opportunity a bit risky, but it would still be up to you if you want to go for it. Now, if you are looking for safer ways to earn passively, I recommend you check out the best passive income apps instead.

But if you are just looking for a way to earn extra cash, I suggest you check out the top survey and GPT sites in your country instead. The sites and apps on this list all have good earning potential, so you will be able to earn a decent amount in a short period of time.

Plus, you will definitely find a site or app you can join regardless of where you live.

If you have any comments, questions, or have any experiences with HyreCar yourself, I would love to hear from you in a comment below.