Urban people are well-used to car booking applications. They rent a car and plan their trip and love to spend a cool and safe journey. Owning a car has always been a secondary plan for all as there are many inconveniences in owning one.
People need to drive their cars in heavy traffic areas, should find a parking place, should spend on general maintenance, and many more. This is why, today car rental business is gaining more popularity in all major and densely populated countries.
The car rental market is facing exponential growth as it is expected to reach 291.5 million by the end of 2023. The growth in the travel and tourism industry is one of the main reasons for this tremendous growth.
Are you planning to develop a car rental marketplace platform? You will get complete knowledge about the car rental marketplace development process. First, let us check out how the car rental business works.
Learn about the car rental business model
Three types of users are involved in the car rental business, who is the business owner (Admin), the car owner, and the rentee (passenger). The entire car rental business model along with all user types is explained below.
- Car owners will register themselves with the car rental marketplace and will give complete details about their cars.
- The admin of the platform will authenticate the vehicle along with the license and can either approve or reject them.
- The rentee will register with the platform and will search the listing and find the car for rental. The rentee will select the duration of the travel and the type of vehicle.
- Once the rental car is selected, the rentee will book the car and will pay the charge along with the security deposit through the car booking app.
- The car owner and the rentee will be able to communicate with each other and will share the address details for pickup/drop.
- The admin will deduct his commission value from the payment received through the platform and will transfer the rest to the concerned car owner.
- Once the rental trip is completed and the car is handed over to the car owner, the car is inspected for any damage. If there is any damage then the repairing charges will be deducted from the security deposit, else the deposit amount will be refunded to the Rentee.
How to build a car rental marketplace?
Developing a car rental marketplace needs high-technical skills, determination, and a deep understanding of the car rental industry. Here we have listed down the steps involved in building a car rental marketplace.