By on June 24, 2015

2015 Ford F-150

Financing a Ford and looking to bolster your monthly payments? The automaker has an idea: rent your car to others.

Ford owners financing their rides through Ford Credit can rent them out to other drivers through its Peer-2-Peer Car Sharing program, announced Tuesday evening. The pilot program will invite 14,000 and 12,000 owners “in six U.S. cities and London, respectively” to rent their vehicles to prescreened drivers on a short-term basis, with rental payments going towards paying down the note.

To enable this, Ford partnered with rideshare companies Getaround (U.S. market) and easyCar Club (London), whose respective “Web-based, mobile-friendly software” will handle all transactions.

The six U.S. cities selected to participate in the sharing program are the California cities of Berkeley, Oakland and San Francisco, as well as Portland, Chicago and Washington. The program is slated to run through November 2015.

(Photo credit: Alex L. Dykes/The Truth About Cars)

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10 Comments on “Ford Unveils Carsharing Pilot Program For Select Ford Credit Consumers...”

  • avatar

    Whose insurance covers any loss or liability? And what is Ford’s cut?

  • avatar

    Renting out your Ford-financed “new” car is stupid (depreciation).

    Renting out your car in month 47 of your 48-month loan term? Could make sense.

    The people most likely to opt-in to this (young or credit challenged—thinking hey what a great way to lower my payment!) are the ones least able to afford the depreciation hit. —might as well rent out your brand new car and do Uber during the weekends as well.

    no brainer!

  • avatar

    Um…really? Trucksharing. Maybe if I was a start-up business who didn’t need their vehicle 24/7 – could rent out my trucks over the weekend…and hope they weren’t smashed up for Monday’s work.

    And who is the target market for this?

    Now, if I wanted to co-share a truck with a friend, then maybe… maybe. I’m still trying to figure out who will actually use this…a Co-Op community? And how may of them are out there?

    • 0 avatar

      Not just trucks; any new Ford vehicle financed by Ford Credit is good to go with this program.

      As for who would go for this, it would be the same group who are most likely to use Car2Go, Uber and AirBNB: cash-strapped Millennials.

  • avatar

    I’m curious as to whether the owner’s insurance is liable (assuming that said owner has a policy that would even allow this), or whether Ford provides some kind of special insurance for this application. I’m less concerned about physically lending my car—that I *don’t* own if I’m making payments to Ford Credit—than I am about being on the hook if the renter turns out to be a nutjob who goes on a crime spree or runs over a pedestrian and takes off.

  • avatar

    CL Ad:

    2015 F-150 Platinum 4×4
    10k mi, one owner (except when rented), few dents, etc.

    Hopefully the rental program would show up on a CarFax, as I wouldn’t want anything to do with such a vehicle. The worst treated cars are rentals, and now I’m not only paying for my new car, but letting someone else abuse it for a little credit money? CP. Don’t touch my stuff.

    I can also see liability issues arising. Billy Joe returns Chad’s F-250 after a weekend rental of hay baling and work, and it’s got scratches. Chad is angry, and being a Kentuckian, returns from the shed with a 12-gauge. Billy Joe runs toward his girlfriend Tina’s teal Grand Prix, but doesn’t quite make it to the door.

  • avatar

    Does Ford credit do loans on a GT500 or the next Ford GT when it comes out? ‘Cause I want to take one of those to the track…

  • avatar

    Hmmm…perhaps this is how I find out how well a 6.7L PowerStroke pulls my trailer. Color me intrigued.

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