Share Your Personal Car, Rake in Some Cash

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    NEWSLETTERS

    A new car-sharing plan would do just that by turning personal vehicles into rental cars during off-hours.

    Oh, sure, your car is convenient. But why not put it to work when you're not using it?

    A new car-sharing plan would do just that by turning personal vehicles into rental cars during off-hours. The system would allow you to make your car available to trusted members who could unlock it with a special digital key.

    It hasn't always been possible, due to a few loopholes in the insurance laws. But a legislative revision has now cleared the way for personal vehicle carsharing. It was made possible by Sacramento Assemblymember Dave Jones, who's currently running for Insurance Commissioner.

    One of the innovators in the field is Spride Inc, which is gearing up for a big launch in early 2011. They're joining forces with local nonprofit City CarShare to expand sharing opportunities to over 13,000 people. There's also talk about limiting sharing to a smaller trusted circle -- for example, only to your friends on Facebook.

    Sharers will reap financial benefits under Spride's plan. If you share a sedan for just 10 hours a week, you'll get payout of $2,000 annually.

    Soon, the closest car will be just a few steps away. At this rate, you might not even need to own one of your own.