Going to college this fall? Enlisting in the military? Are you relocating overseas for a new job? So you have a car that you don’t want to sale, but don’t know of any other options for keeping it in safe shape in your absence. Well…what about subleasing the car? Subleasing is when you rent out the car to someone [under a contractual agreement] who will be fully responsible for it in your absence. This includes making all auto [insurance] payments on time, addressing any maintenance repairs, and giving you a regular report on the vehicle’s condition.
When considering this option, it is essential that you find someone who is trustworthy and independent, someone who will remain true to the contract that you both signed according to the stipulations documented therein. You want a renter that will keep you in the know regularly and who will treat the car as if he or she owned it. My advice would be to start with someone in your inner circle (family, BFFs, close classmates), then work your way outward if the former doesn’t succeed. Do your homework before you agree to sublease your beloved car to an interested party.
Check out their driving background, ask about them from mutual friends/associates, and make sure all of the legal matters are handled (in terms of insurance and so on). Then while you’re away, your car can remain in tip top shape by fulfilling its purpose while someone who really needed wheels will benefit. Not to mention you have generated an extra income by capitalizing on a golden opportunity that is a crucial part of everyday life. Transportation! …will personally await you when you return to it.