What if your kids and family needed a car for school, errands or even just because they’re cool and want to do it themselves?
What if they didn’t have an electric vehicle yet?
What if you don’t want to pay an extra $50 for a new car, but you’d rather just rent one for your kids?
Well, now you can!
Renting an electric automobile is one of the easiest ways to make money on your kids’ school trips.
They can use their electric vehicle for school transportation, errand trips, and even some fun outings like biking, hiking, or sailing.
But what if you’re a parent who just needs to rent a car?
The National Governors Association estimates that $3.5 trillion is invested annually in public transportation in the United States.
That number is up about $5 billion per year from 2005 to 2016.
That means you can make a good amount of money on the backs of kids using an electric or hybrid vehicle, according to the National Governors Associations National School Safety and Engineering Center.
What are the costs?
Electric car rentals are easy.
Just get an electric, and it’s yours for the ride.
The car’s battery is charged in the car itself, and the battery lasts a lifetime.
There’s no maintenance required, so you can rent your electric car for as long as you like.
Renters can rent the car for around $5 a day for around an hour and 30 minutes.
The car has a range of about 2 miles, so your kids can use the vehicle for about an hour on a single charge.
But there are costs, too.
Your car needs to be maintained, which can be expensive.
For example, a standard electric car needs a $5,000 to $7,500 service fee to maintain its engine, and $2,000 for the battery.
A high-tech electric car also requires $2 million to $3 million in maintenance to maintain and repair the battery, the National School Safe and Safe Schools Coalition reports.
Renting an electric for school also has a significant cost to the rental company.
It costs the rental car company $6,000 per month for gas, electricity, and maintenance.
Rent-to-own companies have to cover the cost of all the maintenance, plus insurance.
And you might have to pay additional insurance, such as a homeowners’ insurance policy, if the car is stolen or damaged.
The National School Safer and Safe schools coalition estimates that about 1.4 million kids use their vehicles to get to school each day.
There are about 14 million school vehicles in the U.S., but only about 1,200 of those are fully electric.
About 1 in 5 students drive to school using a school-owned vehicle.
For these kids, electric vehicles are a great way to make their commute a little less stressful, because the batteries last much longer.
Renting your kids a school car costs you around $1,000 a day, or about $200 per day per child, according the National Safety Council.
The average cost for an electric school bus is about $10,000, according a 2013 study by the American College of Pediatricians.
Rent-to, buy-to or lease school cars are all good choices for parents who need a little extra cash to rent one, according David Stapleton, director of the National Safe Schools Center.
Rental options can help you save money, too, he says.
But, he cautions, you might not be able to make the extra money if your car breaks down or you don.