Car rental agency

Adelaide, 21, prefers cars to cryptos

“We just noticed the car rental prices were crazy from all the old rental companies, and even though we actually couldn’t find a car on [car sharing platform] Because Next Door while we were there because they were all sold out, it kind of woke up to me to be a decent idea to explore,” he says.

In September last year, he listed his first car, a Suzuki Alto, on Car Next Door. He now has five cars on the peer-to-peer rental platform after buying four other low-mileage used vehicles.

“I ended up going out and buying them [outright] specifically for this purpose,” says Charlton.

He says he’s on track to earn about $15,000 a year with three of the cars, or $1,200 a month before costs. He does not count the two remaining vehicles, because they are on long-term rental with the platform and he did not do the calculations for them.

Charlton says he already earns more on cars than on cryptocurrency and stocks — but he’s not betting everything on car rentals. “If you have a long-term horizon, not being invested in any type of investment is really very risky, just because of inflation,” he says.

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