The Courier Mail reported during the COVID-19 pandemic the number of people in Queensland who rented their vehicles out jumped by 169 percent, with residents around Brisbane’s inner suburbs among the top subscribers.
RACQ Head of Public Policy Rebecca Michael said the pandemic had impacted the way people worked and travelled, so it was no surprise drivers were turning to similar schemes to save on vehicle expenses.
“During the pandemic we saw people staying at home for long periods of time and high unemployment, but at the same time families were still forking out thousands of dollars on their vehicles, putting a strain on the family budget,” Dr Michael said.
“Our research shows when you factor in paying for fuel, registration, insurance, maintenance, car loan repayments and depreciation you’re often paying in excess of $10,000 per year to stay on the road.
“So for those driving less, it may make sense to sell or rent out their car and look at options like sharing services for the times they do need to drive.”
Dr Michael urged Queenslanders to research their options before signing up to a car hire service.
“It’s incredibly important you read the terms and conditions carefully and chat to your car insurer to make sure you’re fully covered before agreeing to any new service,” she said.
“Regulations can differ in each state so make sure you’re abiding by Queensland’s legal requirements, including ensuring your car is free of defects, otherwise you mightn’t be covered by some policies in the event of an incident.
“Take a good look at how long you’re locked into any service too and what the fees and charges are - you don’t want to sign up to any scheme that’ll disadvantage you down the track.”
The information in this article has been prepared for general information purposes only and is not intended as legal advice or specific advice to any particular person. Any advice contained in the document is general advice, not intended as legal advice or professional advice and does not take into account any person’s particular circumstances. Before acting on anything based on this advice you should consider its appropriateness to you, having regard to your objectives and needs.