Innovative neighborhood car-rental service launched by Whipcar in London

Reports suggest that many cars in London are used for less than an hour per day and people would gladly pay for renting cars from their neighborhoods. Founder of Whipcar, Vinay Gupta designed an ingenious solution. After the car owner and the renter have registered themselves on the site, Whipcar runs some background checks on them. When the renter has selected a car, an e-mail is sent to the owner and depending on the rate offered the owner can accept or reject the renter’s offer. Once the owner accepts the offer, the appropriate amount is deducted from the renter’s credit card and the owner is provided with the last four digits of the renter’s driver’s license for verification purpose. After this, both parties agree to meet a chosen location for the renter to pick-up the car and drop it off at the return time.

The car is automatically insured for the renter during the hired period in addition to its existing insurance. Though, it is only available in London for now, Whipcar offers an innovative solution to reduce requirement, thus reducing production and in turn saving huge amounts of energy.
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