RelayRides has been around since 2010, and according to OnStar's Vijay Iyer, the company "has customers that make up to $1,000 per month" renting out a car. "The average rental is between $5-$10," Iyer told Mashable.
This new partnership between OnStar and RelayRides takes the service to the next level, allowing any recently manufactured OnStar vehicle to be part of the RelayRides fleet, with no hardware installation necessary.
Making those car owners and renters feel better about the whole deal is a $1 million insurance policy for the owners for the duration of the rental, and $300,000 worth of insurance covering each renter. And, if somebody decides to steal one of those rented vehicles, OnStar can perform a Stolen Vehicle Retrieval routine and actually slow down or stop the car, foiling any sinister plots. Beyond those safeguards, Iyer adds, "Part of collaborative/peer-to-peer concepts is the trust in the individual you rent your property to."
To rent your car to someone, you first become a member of RelayRides by signing up on the company's website, and then designating the hourly price of renting your car and when it will be available to rent. Then, those who choose to rent your car will be able to find it with the help of OnStar's GPS system and a smartphone app. Said Iyer, "Renters will be able to see location map upon confirmation of the rental, and will be able to unlock and lock (at the end of the rental) via the web app." Then they can start the car with the key you leave in the glove compartment.
Iyer told Mashable there are 6 million active OnStar vehicles on the road, and he noted that OnStar-equipped vehicles built since 2004 -- the year the service went from analog to digital communications -- will be immediately capable of taking part in the RelayRides program.
While the service will be available all over the United States, Iyer said RelayRides using OnStar will be most popular at first in big cities. "Most of the customers will be in metropolitan areas, where there is a higher number of cars," he said. "Most of the users will be those who usually use public transportation, but only need a car on special occasions."
When we asked Iyer how many cars and members are involved with RelayRides, he said, "RelayRides has a six-digit base of vehicles in their database and five-digit base on customers." While those numbers are not quite specific, they indicate that the network of users and vehicles is approaching a critical mass, especially in large metro areas.
On the RelayRides website, the starting point for rental pricing is $8, but Iyer says you can choose to price it higher, basing the price on options such as GPS, the size of the car, or the type of vehicle. For instance, "if you have a Volt, you can go higher than $10, or if you have a small car, you could go lower. Special features on the car make it worth more."