Renting out your Car in 2012

From renting driveways to renting out your car, this could be the new trend in 2012.

Unlike driveway rentals this new idea isn’t from us, it’s from two of the most well-known entrepreneurs in the UK – the founder of EasyJet Sir Stelios Haji-Ioannou along with Brent Hoberman, the founder of lastminute.

At a time when increasing numbers of people could do with some extra money this scheme could come in handy.

Renters will be able to access the cars through a smartphone app, and our guess is that there will be an extensive feedback system to ensure that cars are treated in the right manner.

As Sir Stelios Haji-Ioannou says, the concept is logical, and it’ll be interesting to see if it develops into a real competitor to the established car rental companies:

“Rather than having to buy the cars and pay the ownership costs, this business model relies on the fact that there are plenty of underused cars on the road and that is lazy capital that can be put to work again.”

A recent Guardian poll has shown that nearly one in four people would consider renting out their car, which would certainly result in a sufficient supply of cars.

This idea could be one to watch in 2012.