The increasing dependency on mobile apps for any service has also revolutionized the transport sector. And this revolution gives rise to P2P or Peer to peer car rentals. With increasing digitization P2P car rental apps have become extensively popular on which people can rent a car for several days directly from the car owner without mediating any third party. As its popularity and demand are increasing continuosly, a P2P car rental app can be a profitable business endeavor to start and become a part of this lucrative market. However, P2P car rental app development requires careful strategies and execution. The app should meet all the requirements and needs of the service providers and customers which should also be effective and user-friendly.
If you also want to develop a P2P car rental app and don't know where to start, then stay with us till the end. From the features and functionalities of the app to its technology stack and benefits, in this blog, we have provided the complete guide to developing a P2P car rental app that stands out. So, let's get started.
What is P2P Car Rental App: A Quick Overview.
P2P car rental apps are software applications that connect car owners with renters, providing a platform for individuals to rent their personal vehicles to others. With P2P car rental, you can access a wide variety of vehicles at lower prices than traditional rental car companies, while car owners can earn extra income by renting out their idle vehicles.
It's a platform that uses the sharing economy model to connect car owners with renters. The app acts as an intermediary, facilitating the rental process from start to finish and providing a secure and reliable platform for transactions.
Market Size of Car Rental Industry:
The market of the car rental industry is increasing rapidly and is highly competitive. In 2020, the car rental market worldwide was approximately 98 billion and is expected to grow at the rate of CAGR (Compound Annual Growth Rate) of 4.6 % in 2028. Increased consumer desire for flexible and practical transportation choices, rising use of ride- and car-sharing services, and the development of online and mobile booking platforms are all factors contributing to this growth. Technology advancements like mobile apps, which have made it simpler for customers to rent a car swiftly and simply, are also driving the market.
How Car Rental Mobile Apps Work: Step by Step process
Step 1: Sign Up or Log In
The first step is to create an account on the P2P car rental app and log in.
Step 2: Choose Your Vehicle
After registration and login, step 2 is to browse through the cars available in your area. The app will display the cars available for rent in your area.
Step 3: Select Dates and Pickup/Drop-Off Location
Once you select a car, Choose the date and pickup & drop-off location from the list provided by the app
Step 4: Book the Car
Once you've decided on the pick-up and drop-off location, you can book the vehicle by paying. The majority of vehicle rental apps support numerous payment methods, including credit cards and online wallets.
Step 5: Get the Car
On the booked day, you can collect the car from the pickup location and get the car key.
Step 6: Return the Car
When your rental time is up, return the vehicle to the designated drop-off location. For an additional fee, some apps let you return the vehicle to a different location.
Step 7: Leave a Review
You can give review your rental experience on the app after returning the car. This helps other users to make the right decision while renting a car.
How much does it cost to build a P2P car rental app?
Just like any other app, the overall cost of developing a car rental app also depends on numerous factors.
It includes :
- Complexities of the app,
- Features included in the app
- Design of the app
- The skill set of the developer’s team.
- Technology stack used
Let us understand with an example. A car rental app with a custom design and features like real-time GPS tracking will cost more than one that only has basic features. There are several other factors too that affect the ongoing cost of car rental apps like regular updates and bug fixing. With so many variables, it is always recommended to consult a good and reliable P2P app development company to know the clear facts about cost.
How to develop a car rental app?
P2P car rental app development can be a complex process if not follow the necessary steps. We have mentioned the important steps that help to create a user-friendly, appealing, and SEO-friendly app that satisfied the desires of both car owners and renters.
Let's get started with the steps:
1. Market research
Doing thorough market research is the first step in developing any app. Thus the case is the same for the P2P car rental apps. It is very important to do market research before starting the P2P car rental app development. Identify your target audience, their requirements, and their needs. Create user personas by conducting surveys and interviews with the audience. It will help you offer a seamless user experience to your target audience.
2. Choose a development platform
After market research, the second step is to choose a development platform. You can opt for ready-made solutions like Turo or create your platform using the software Laravel or Django.
3. Create a user-friendly interface
Create a user-friendly UI that makes it simple for car owners and renters to register, look for vehicles, and book them. Make sure the app is simple to use and comprehend, and add helpful prompts and calls to action to assist users.
4. Develop a rating and review system
Building credibility and encouraging repeat business requires a rating and review system. Both car owners and car renters can evaluate each other based on their experiences. Other users will be able to use these ratings and reviews to make educated choices about which vehicles to hire and which car owners to believe.
5. Implement a secure payment system
Implementing a secure payment system is vital for P2P car rental apps as it helps to protect user-sensitive data and prevent fraud. Use a reliable payment gateway like PayPal and make sure to comply with PCI standards.
6. Test and refine your app
Conduct user testing before releasing your app to find any problems or potential improvements. Adapt your app based on user input, and keep improving it over time.
7. Optimize for SEO
You must make your app SEO-friendly if you want to acquire new users. Make sure your app is mobile-friendly and loads swiftly, and make use of keywords and phrases associated with car rentals and your intended audience.
Why choose Tecorb Technologies to develop a P2P car rental app?
Tecorb Technologies is one of the leading and most reliable app development companies having experience in doing projects of various verticals including P2P App Development.
With a team of technically skilled developers, at Tecorb Technologies you will get a reliable partner that will help you in the entire process of development, from ideation to execution.
What features you will get in your P2P app delivered by Tecorb?
From basic to advanced features, Tecorb Technologies provides complete app solutions to its clients. Let's see in detail:
Features for Tenants to Book a Vehicle:
- Login, registration, and personal profile
- Filters to find certain autos in a specified place
- Calculation of the fare is based on the booking schedule calendar.
- Cancellation
- Methods of Payment for Delivery
- Ratings and reviews
The Features for Vehicle Owners:
- Creating a profile, logging in, and registering are all steps in the registration process.
- Include photographs and a description of the car.
- Organize several rental automobiles
- Determine the availability of vehicles.
- Organize taxi prices.
- Methods of receiving payment
- Management of feedback.
Features for Admin:
- Management profiles, including automobile owners and tenants.
- Management of the car list: accept or reject.
- Organize reservation times.
- Country, state, region, area, and city management.
- Management of payment transactions.
- Manage the marketing of your app through blogs, comments, reviews, and ratings.
- Manage ad campaigns and subscription plans.
- Produce analytic reports.
Aside from this, premium features like chat messenger, rental security management, user management, booking calendar, etc are also embedded in our P2P car rental apps.
Key Takeaway
P2P car rental app makes it easier for users to rent a car. Not only this, they have unlocked new opportunities for individuals and business owners to earn extra income by renting their cars. With so much convenience and accessibility in the bucket, it's no wonder that P2P car rental apps have become such a favorable choice for car rentals. So, if you want to start a new business, developing a P2P car rental app would be one of the best options to invest in.
Read More: Grocery Delivery App Development: Benefits, features, and Cost.
