MONTEVIDEO – Uruguayan entrepreneurs this week launched Croway, a new business model through which car owners can rent out their own vehicles at a price that they themselves decide.
Gonzalo Garcia, one of the company’s founders, told EFE that he realized that “the auto market has shot up a lot in Uruguay because now a family usually has two or three vehicles,” and added that “the second and third vehicles are idle much of the time.”
“Our inspiration was seeing how we could make use of those vehicles that are not being used and finding out who needs them,” Garcia said.
Croway opened its auto registration last Wednesday, but it “won’t take a couple of weeks” to launch the platform through which users will be able to rent out their different models, “from trucks and vans for moving house to luxury models and sports cars,” he said.
The daily price of a rental car is set by its owner, though the “suggested price,” Garcia said, “is 10 to 15 percent lower than the market price,” which means “about $25 to $30 for a standard vehicle and between $60 and $70” for a luxury model.
“Croway is the broker between the car owner and the renter. After the deal is made, the interested parties get in contact to decide when and where the car will be delivered,” the Uruguayan entrepreneur said.
Garcia said that only “vehicles from the year 2012 or after” can be part of the Croway fleet and all must be fully insured.
Finally, Garcia said that both he and the other founder, Maximiliano Casal, will seek to establish this business model in other Latin American countries.