It seems every new web-based service that’s part of the burgeoning sharing economy is billed as “the Airbnb of [fill-in-the-blank].” One company is bringing that same concept to vintage, classic, and collectible cars to connect daydreaming auto enthusiasts with owners of drool-worthy cars. With Spring fast-approaching, we’re thinking it’s high time for a proper road trip!
DriveShare’s goal is simple: connect owners of the world’s most sought-after cars with prospective non-owners who would very much like to drive said cars. It works like any other sharing website. Drivers have a profile through which they’re ranked according to their experiences with owners. Owners likewise have a personal profile that showcases their available car(s) with all the pertinent details like make/model, car features (like GPS navigation or aftermarket stereo system), maximum distance they’re willing to rent the car out to, deposit fees, drive policies, and daily rates.
The most obvious liability in peer-to-peer car renting is insurance. Most policies explicitly deny coverage if a policyholder’s car is rented to a third party. DriveShare closes this gap for both owners and drivers by guaranteeing liability and physical damage coverage for every rental. Every vehicle is covered for the full replacement cost.
For most owners, their exotic cars are likely to sit idle far more than they’re actually driven. Add to that the fact there are far more car enthusiasts who’d love to drive an exotic car than the number of drivers who actually own one.
It’s an obvious business model and one that, not surprisingly, isn’t new. Flashy cities like Miami, Las Vegas, and Los Angeles have had such rental agencies at least since the ‘90s. A few years back, Hertz Rent a Car even got in on the action with their Dream Cars and Adrenaline Collection at select U.S. locations. However, these daily rates tend to be stratospheric. We’re talking up to USD $5,000 per day to rent a hyperexotic Lamborghini or Ferrari. Plus, most adhere to absurd mileage restrictions like only allowing drivers 50 miles per day.
DriveShare offers the same business model, but with more affordable rates. By contrast, we found this 2006 Lamborghini Gallardo near Boston for the “bargain” price of just USD $1,200 daily and this ‘57 Chevy Belair for less than USD $250 per day.
The site has been online since 2014, but a recent purchase by Hagerty Insurance Agency catapulted the project forward. DriveShare is only available to U.S.-based drivers at the moment, but it’s free to register.
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