How to Build a P2P Car Rental App Like Turo?
The car sharing market is a rapidly growing industry in the global economy. According to the Allied Market Research, report, in the next few years this market will add 12% per year, according to the Zion Market Research — 13.5% per year. The growing popularity of car sharing also means the growing popularity of sites that offer this service. In this article, we’ll show you how to use this trend by creating your own P2P car rental application like Turo.
Reducing the cost of rental is achieved by reducing the number of intermediaries: only the Turo application is involved as a platform that brings the car owner to the tenant, and indirectly a bank or other payment service if payment is made via the Internet.
Safety. Owners are often afraid to give their cars to unknown people for security reasons, because they do not know if the tenant is a tourist, businessman or car thief. To build a successful car rental application, you need to create a safe environment for such deals.
In Turo, this problem is solved due to the fact that the service assumes responsibility for a complete verification of the identity of the tenant (and the car owner as well). That is, if a car is stolen, then Turo is obliged to compensate its cost. Turo's rival, Carsharing, requires all users to register through social networks using live accounts.
Other services, for example, Drivy do not allow young and / or inexperienced drivers to rent a car on their site. At the same time, almost all such applications, including Turo and Carsharing, use a rating system and reviews to filter out unreliable users.
Insurance. Turo provides a $ 1 million liability insurance policy that protects the car against damage during the rental period. You can find out more about the insurance policy on the service website. Insurance conditions are shown in the following table:
Turo service acts as a venue for a meeting of the parties and at the same time provides some additional services (party verification, insurance, car delivery, administration, etc.) in exchange for 10-35% of the rental cost depending on the level of insurance coverage and duration rent.
Deal may be concluded:
Tenant User Panel. The interface of users who want to rent a car. For them, a pleasant design, speed and ease of finding the right car and the security of financial transactions are important. In addition, such users appreciate the availability of a rating system and reviews.
Basic features for tenant drivers:
Basic features for car owners:
Basic functions for the administrator:
To develop MVP, you need: