Car rental service offers lenders a guaranteed flat monthly fee

FlightCar Monthly offers vehicle owners a flat monthly fee for 30-days' use of their car.

Regular readers of Springwise may remember our coverage of FlightCar, the San Franciso-based startup that lets holidaymakers lease out their car while away. The company has now launched FlightCar Monthly, a service that offers vehicle owners a flat monthly fee for 30-days’ use of their car.

While the company has so far concentrated on those who don’t need use of their car for short bursts, its Monthly program is designed for owners that don’t use their car very often, or are going to be away for a considerable time. Rather than leaving the vehicle in the driveway, FlightCar takes them on as rental cars. Depending on whether the car was built before or after 2008, and if it’s a standard or luxury vehicle, participants in the scheme can earn between USD 150 and USD 400 a month, even if their car isn’t used. If they need their car at any point, they can do so for up to four days during the month. If this is the case, either their own car – or a similar standard vehicle – is made available to pick up in an hour.

FlightCar Monthly addresses the problem of unused cars, allowing consumers to turn their idle assets into extra monthly income. At the same time, the service boosts FlightCar’s inventory of vehicles and enables it to meet demand. Are there other ways that car rentals can be encouraged?