Want to drive a 1937 Packard this weekend? A 1973 VW van? A 1931 Model A? DriveShare has your car.
The new company, modeling itself as the “Airbnb of vintage cars,” is now offering a peer-to-peer rental service.
Using a database of more than 1 million vehicles insured by parent company Hagerty, the country’s leader in vintage vehicle insurance, the just-launched DriveShare already has a menu of 300 tasty offerings.
Costing from $99 a day for a Porsche Boxster in Roanoke, Va., to $3,300 a day for a Lamborghini Aventador in Los Angeles, the vehicles are meant to appeal to vintage car buffs. And the opportunity to make money by renting out one’s vehicle can soften the cost of vintage-car ownership.
“We think this might be the future of the vintage-car world,” Hagerty Chief Executive McKeel Hagerty said.
Hagerty opened DriveShare in partnership with the regional rental company Classics&Exotics, whose founder, Peter Zawadzki, has joined the insurance giant as director of DriveShare.
Classics&Exotics, a privately funded Massachusetts startup that Zawadzki launched in 2015, began to interest Hagerty after he received multiple queries.
“I kept bumping into people who would mention Classics&Exotics and ask me, ‘Could this work?’” Hagerty said. “I finally realized, yes, it could, if we got behind it.”
The median DriveShare transaction rate is $275 a day, with prices based on the age, rarity and condition of each vehicle. The transactions are insured by DriveShare, with the cost of insurance folded into the daily rental rate.
Potential renters are screened as part of signing up for the service. DriveShare accepts or rejects them based on their driving records.
The database is searchable by geographic location, category of car (hot rod, classic car or muscle car, for example), price and special features.
The service is available nationwide, except in New York, where insurance rental regulations prevent DriveShare from operating.
The most-rented car so far, Zawadzki said, is that 1937 Packard.