The emerging peer-to-peer car rental sector is projected to grow at 10 per cent annually, and it has finally reached the Caribbean. The region’s first peer-to-peer car rental platform, Rent Yuh Ride (RYR), was launched recently and will connect thousands of travelers to private car owners to facilitate car renting in a way that “is efficient, affordable and safe”, the company said.
RYR has promised a platform that will enable seamless transactions while also rewarding users with travel credits and incentivized bonuses. Led by a team of black women, RYR’s operations will be out of Kingston, Jamaica. Eventually, operations will expand across the Caribbean. Further boosting its new platform, RYR will partner with the Insurance Company of the West Indies (ICWI), a leader in motor insurance across the Caribbean to provide private rental insurance to car owners at a discounted rate. In addition, RYR will use Jumio, a leader in online identity verification, to definitively authenticate users on the platform.
“Travelers deserve a better way to rent cars, they need options, and what’s available just doesn’t cut it,” explained RYR Founder & CEO Cherie Williams. The Rent Yuh Ride platform will be accessible online from anywhere, at any time. It’s a marketplace where car owners can sign up, upload their vehicle info (and documents) to be approved and listed on the site for free. Simultaneously, travelers can sign up, search through available vehicles in their desired destination, choose a pickup location, and then book.
Once the vehicle has been picked up, the owner gets paid electronically. When it is returned, this will complete the transaction, and both parties are then able to leave each other a review.