After relocating within San Francisco, my partner and I decided to purchase vehicles and list them on GetAround, a car-sharing platform. Rather than continuing our reliance on ride-sharing services, we wanted to own cars we could use personally while generating income from other users.
The Fleet
First Vehicle (LM1): 2016 Hyundai Sonata SE
- Purchase price: ~$10,000 (from Hertz Car Sales)
- Mileage at purchase: just under 75,000 miles
- Monthly revenue: $500-$700
- Annual parking: ~$130
- Monthly insurance: ~$80
- Maintenance/cleaning: ~$0
- Financing: $0 (purchased with cash)
Second Vehicle (DK1): 2015 Hyundai Sonata Eco
- Purchase price: $12,000
- Mileage at purchase: ~40,000 miles
- Monthly revenue: $500-$700
- Annual parking: ~$130
- Monthly insurance: ~$80
- Maintenance/cleaning: ~$0
- Monthly financing: ~$230
Combined monthly revenue by end of 2019: $1,700
Advantages
The vehicles pay for themselves and provide convenient personal transportation. Having cars available whenever needed eliminates reliance on expensive ride-sharing alternatives.
Challenges
This remains a "high-touch investment" requiring consistent effort. We regularly manage gas refills, post-rental cleaning, recover missing items, and address parking violations.
Recommendations for Prospective GetAround Owners
- Prioritize street parking to minimize costs
- Price your vehicle competitively; renters are price-sensitive
- Purchase vehicles with minimal emotional attachment
- Mid-size or full-size sedans perform better than SUVs
- Approach it as an ongoing experiment and learning opportunity