Getaround Update: No way this is profitable for them

January 30, 2016

by — Posted in Case Study

So it’s been about a month on Getaround, and my total earnings so far? Exactly $63.45. In a year, that comes out to an extrapolation of $1522.8.

Getaround claims that once people start getting used to my car and renting it regularly, usage should increase. This sounds reasonable, but I’m not seeing how at all it’ll be possible to 4X the current earnings rate…

So yeah – at this point, I’ve determined the only way I’m getting that $6000 guarantee is by actually making sure I get that guarantee. The offer expires as it stands right now February 19th, and so if you’d like to take advantage of this once-in-as-long-as-I’ve-seen opportunity to seriously subsidize your car, I encourage you to take advantage of this offer before February 19th, and take ample screenshots of every step of your process, get written confirmation of the guarantee applying to you, and religiously follow the requirements to meet the guarantee, because it’s unlikely you’ll be getting this money on your own strictly through the platform.

That said, so far I’m extremely happy with having purchased this vehicle and have no regrets, especially if I get the $6000 subsidized here. I’ll at least earn enough, it seems, to cover the cost of maintaining the vehicle for the next few years, so it really means I just got the car for $~4000 with taxes ($9000+1000 taxes). I’m pretty positive I can sell it for more than that, so it’ll still be at least a net-neutral impact on my finances, and I get a fantastic car to use in the meantime.

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