Ford will now let you rent out your new ride to pay off your car loan


Ford has launched Peer-2-Peer Car Sharing, a program that lets customers rent their cars to other drivers for short periods of time and offset monthly vehicle ownership costs.

The company is inviting 14,000 drivers in Berkeley, Oakland, San Francisco, Portland, Chicago and Washington D.C. in the US and 12,000 more in London to trial the program.

Ford says that all renters will be prescreened. They’ll be able to use Getaround’s service to find vehicles in the US; easyCar Club will offer the same functionality to drivers in the UK.

David McClelland, Ford Credit vice president of marketing, said that, “As most vehicles are parked and out of use much of the time, this can help us gauge our customers’ desires to pick up extra cash and keep their vehicles in use.”

Peer-2-Peer Car Sharing will be open only to customers who have purchased their cars through Ford Credit and not via outright sale.

Ford also recently began testing GoDrive, an on-demand, public car-sharing service in London. It’s similar to Zipcar’s service that allows customers to use a car for one-way journeys with easy parking throughout the city.

The company hasn’t mentioned how much drivers can expect to recoup by renting out their cars.

We’ve contacted Ford for more details and will update this post when we hear back.

Ford Smart Mobility Shifts From Research To Implementation; Company Announces New Programs, Next Areas Of Focus [Ford]

Image credit:  JuliusKielaitis /

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