Over the years, E-commerce platforms have rebuilt how numerous service-based organizations like food delivery, lodging, and transportation work. Additionally, technology has made it very easy for new businesses to enter these markets and establish their identity. The basic reason for all these changes is the simple concept of a shared economy. Nowadays, new businesses can make themselves stand and compete in the market without actually owning major assets
Without any doubt, we can say that no industry other than Peer to Peer (P2P) car rental has epitomized this transformation in a better way
Other than booking cabs, many people have also started preferring renting cars that they can drive themselves at their ease. This functionality has realized its growing need and because of the same, many P2P car rental platforms including Getaround, rent cars, and more have started offering their services.
In almost no time, the whole concept of P2P car rental has witnessed a wider reach. However, since this technology is still in its early stages, there are a plethora of opportunities for new businesses to put up their mark in the market.
Peer-to-Peer Car Rental Business Model
- Pick-up time and date
- Return time and date
Most of the car rental platforms use the feature of map-view to present rental search results. Our advice to you will be to follow a similar approach because it helps car renters to know at a particular moment on how far the car’s location is. Additionally, the vertical panel, right next to the map view, can present the basic rent details like rent fee, year, and more.
Also Check Taxi Booking App
Following filters must be added on the search page:
- Number of passengers
- Availability for instant booking
- Car type
- Car features
- Mileage limit
A significant feature to implement here is as the users move their cursor over the results, the relative map result should be highlighted. A business model with this feature will be a great idea.
Booking a Car
Always ensure that only registered users are allowed to book a rental. To make the registration process easier for the users, a business can opt for social media log in. In addition, the checkout process should also be made short and simple. The must-ask details at this stage are:
- Personal information (name, age, and contact)
- Driver’s license details
- Payment options (credit card / debit card / internet banking, and more)
There must be a dedicated ‘List Car’ option on the top of the navigation bar. Since you will require a lot of details of the car owner, this process should be divided into steps. Roughly speaking, these steps can include:
- Car owner’s basic information including location (pin code), car make, model, year, license plate number, trim, style, and more
- Additional car features and specifications (this step can be formed as a checkbox selection)
- A set of Instructions to the renters regarding pets, smoking, and mileage.
These points will pretty much cover the whole process of listing a car on your P2P car rental portal. Additionally, you may also include a few requirements that can prove useful and relevant for the customers. These are:
- Car photographs: This can help the car owners to attract more renters to their vehicle.
- Insurance: Your business must provide adequate insurance for every car listed on your portal. You can have a provision of charging the renters a penalty fee if they return the car dirty or don’t follow the instructions stated by the car’s owner.
Important Sections in P2P Car Rental Website
How It Works Section
This is a newly added and a very unique feature for any online business model. This is why, in a very short span of time, it has become a must-have. Here is a step-wise explanation of how things work for your target audience (in this case, the target audience will be defined as car owners and car renters).
After rigorous analysis, we have short-listed some of the very popular car rental websites which have been using the How It Works section.
For instance, RelayRides’ How It Works section presents an infographic that clearly explains how everything works for both car owners and renters with a timeline.
On the other hand, Drivy has come up with a creative video idea which explains its user on how their platform work.
The basic motive of this feature is to teach their user how to use their application. This works as a tutorial whose aim is to make the experience of any user on their application smooth.
User Profile Options
The user profile must be packed with tight and rich features for both car owners and car renters. It is greatly advised that you feature a user’s listed car on the application dashboard. Additionally, there should be account management options.
On one hand, renters should be allowed to view car details in the search results, and on the other hand, there must be a distinct page for every listed car along with extensive details that can help renters choose the vehicle as per their needs. Here are the details you should be adding to the car page of your business’s peer-to-peer car rental website:
- Numerous photographs of the listed car’s exterior as well as interior
- Fee per hour, per day, and per week
- Car owner details
- Mileage cap
- Car features & specifications
- Option to book the car
- Precautions renters need to take while using the car
- Location & availability chart with the pick-up location information
This feature can greatly help in attracting more visitors to your platform. But it is important to make sure that your program is well-planned to motivate users to recommend your platform to their loved ones.
While implementing this feature, please make sure that you have a very comprehensive section that is neatly divided into categories and subcategories. Users who have registered themselves should be able to search for answers for their queries or ask a question themselves in case they cannot find the answer they are looking for.
A Help Section will greatly help in enhancing your platform’s appeal.
With this feature, you can keep your customers and prospective customers well-informed about your latest offers and other important information related to the car rental market. If used correctly, this feature can also help you in having a better chance to appear on the top of the Google results.
Car Rental Mobile Application
Creating a mobile application can be proved very successful and essential if you are serious about launching an online peer-to-peer car rental business. Owners of the car should be able to access their car location anytime and anywhere they want. And what would be a better way to do this other than developing a mobile application? While developing the same, make sure that your car rental platform consists of all the necessary features that make it easier for both owners and renters to manage their portal easily. Undoubtedly, developing a mobile application is a costly affair at the start, but it is undeniable that you need to invest more to get better results.
After the discussion we have had in the above article, it has become very clear that Peer-to-Peer marketplaces have a very bright future and is full of opportunities for newly emerged businesses. However, to establish a brand and survive the competition, it is of supreme importance that you step into this highly competitive market, well-prepared.
Including the listed features in your car rental platform by getting the help of an expert designer and developer can help greatly in improving the probability of your success. There is numerous solution providing companies that can help you in building your P2P rental marketplace in time. You can also find customizable and scalable platforms that can help you add all the key features that are must-have to run an online car rental marketplace.
TecOrb is a one of the reputed Mobile app Development Company prioritizing on developing intuitive mobile apps. Our few recommended application solutions are taxi app development solution, grocery delivery application, food ordering application, and OTT video streaming app etc. Get in touch with our experts to know more about our application services. We have a tech qualified team of developers, who work around our customer’s need and requirements and serve them the best system solutions by testing applications on real devices emulators, and simulators.