Make your car work for you by renting it to trusted drivers in Singapore.
Introduction
Car rental platforms in Singapore provide a unique opportunity for car owners to earn passive income when their vehicles are idle.
Instead of letting your car sit in the driveway, you can list it on peer-to-peer rental platforms and allow approved drivers to use it temporarily.
This side income can help cover COE, insurance, and maintenance costs, and in some cases generate a small profit.
Step 1 – Understand How Car Rental Platforms Work
Car rental platforms connect car owners with verified drivers who need temporary access to a vehicle.
The process is simple:
- Register your car and upload all required documents.
- Set your availability, daily rates, and mileage limits.
- Approve or deny rental requests from drivers.
- The platform handles payment and security deposits.
Popular platforms in Singapore usually offer insurance coverage for rentals, protecting you against accidents or damage.
Step 2 – Platform Requirements
To list your car successfully, ensure you meet these conditions:
- Car ownership: The vehicle must be registered under your name.
- Vehicle age: Most platforms accept cars under 10–12 years old.
- Condition: Well-maintained, roadworthy, and clean vehicles are preferred.
- Insurance: Confirm that your policy covers peer-to-peer rentals or buy short-term commercial coverage provided by the platform.
- Documentation: Valid road tax, insurance, and ownership papers.
Step 3 – Popular Car Rental Platforms in Singapore
- JoinMyRide – Peer-to-peer rentals with verified drivers and flexible terms.
- Turo Singapore – Internationally recognized platform offering full-service support.
- CARMUDI Share – Connects private car owners with daily or weekly renters.
- Drivezy – Provides short-term rentals for personal or business use.
Each platform differs in commission fees, insurance coverage, and payout schedules, so compare before listing.
Step 4 – Estimate Your Earnings
Rental rates vary based on car type, model, and demand.
Average Singapore rates (2025 estimates):
- Small sedan: S$40 – S$60 per day
- SUV: S$70 – S$120 per day
- Premium or luxury cars: S$150 – S$250 per day
Assuming your car is rented 10–15 days per month, potential income ranges from S$400–S$1,500 monthly.
Platform commissions (usually 10–20%) and insurance fees should be deducted from gross earnings to calculate net profit.
Step 5 – Tips for Safe and Profitable Rentals
- Set clear rules: Mileage limits, fuel policy, and usage restrictions.
- Screen renters carefully: Use platform verification tools and check ratings.
- Take photos: Document car condition before and after every rental.
- Schedule maintenance: Ensure your car is always roadworthy.
- Use a GPS tracker: Some platforms include tracking for added security.
Step 6 – Manage Taxes and Records
Rental income is taxable under Singapore law.
Keep a record of:
- Daily rental logs
- Platform commissions
- Maintenance and insurance receipts
You can claim some expenses against taxable income, reducing your overall liability.
Step 7 – Legal and Insurance Considerations
- Insurance: Verify with your provider if your car is covered for peer-to-peer rentals.
- Platform coverage: Many platforms provide collision and theft coverage, but check limits.
- Regulations: Ensure your vehicle is road-legal, with valid insurance, registration, and road tax.
Final Thoughts
Car rental in Singapore is a low-effort way to earn extra income.
It’s ideal for car owners who do not use their vehicle daily but want to turn idle time into profit.
With proper screening, clear rules, and regular maintenance, you can safely rent your car and earn extra money every month.