Earlier this year, we posted a story on FlightCar, a startup company that allows travelers who park at the airport to rent their cars to other travelers, and now the young entrepreneurs behind the venture are set to launch a new program. FlightCar Monthly allows users who own a car in or near San Francisco to rent out their vehicle to travelers for a month at a time.
The Nuts and Bolts
So how does the program work? First, car owners submit their cars to be rented from the airport. Then, a representative from FlightCar picks the car up and transports it to the company’s secure lot near the airport for safe keeping. Travelers can then rent the car during the month that FlightCar has it. FlightCar is offering between $150 and $400 in guaranteed payments to rent the car out for the month. Owners who need to use their car during the month are given four free days to do so, assuming the car is available. If it is not, FlightCar will offer owners a car in the same class for use.
The founders of FlightCar hope the new program will boost the number of rental cars in its fleet, while also ensuring a more regular inventory. Since the launch of FlightCar, the marketplace has been mostly sold out. In all, FlightCar has raised over $6 million from several investors including Andreessen Horowitz, Y Combinator, Softbank Capital, and Ryan Seacrest’s Seacrest Global Group.