Hagerty's DriveShare Turns Classic Cars into Peer-to-Peer Rentals
DriveShare, Hagerty's classic car rental platform, lets owners earn income from their prized vehicles while giving enthusiasts access to everything from Mustangs to Ferraris for special occasions or road trips.
Classic car owners in the US have a new way to put their vehicles to work. Hagerty’s DriveShare platform operates much like Airbnb, but instead of homes, the inventory is made up of classic and enthusiast cars, everything from 1960s Mustangs to Ferraris and Lamborghinis. The service connects owners with drivers looking for something more memorable than a standard rental, whether for a wedding, a weekend away or simply to sample a dream car.
How DriveShare Works for Owners and Renters
The process for listing a car is straightforward. Owners upload photos, set their own prices and terms, and decide whether their car is available for self-drive, chauffeured hire or static display. Hagerty handles the marketing, booking, payment processing, insurance and even roadside assistance, so owners do not have to negotiate or manage logistics directly with renters. The owner receives 65% of the rental fee, with the remaining 35% covering DriveShare’s services and insurance, including up to $1 million in liability coverage.
For renters, the process is app-based and familiar to anyone who has used a peer-to-peer service. After choosing a car and location on the DriveShare website, applicants provide their details and driver’s licence. Approval usually comes within 48 hours, after which the owner and renter arrange collection. Payment is handled through the app, removing the need for cash exchanges. Most rentals last a day or less, with many customers booking cars for scenic drives, events or special occasions.
What Cars Are Available and Who Uses Them?
DriveShare’s fleet is varied. Popular choices include Ford Mustangs, Porsche 911s and Chevrolet Corvettes, but the platform also lists exotics like Ferraris and Lamborghinis, classic Cadillacs, Lincolns and even oddities such as the Zimmer Golden Spirit. Rates are set by owners and reflect the car’s value, desirability and location. While some vehicles are offered only for static display, useful for photo shoots or marketing, most are available for self-drive rentals. Owners cite reasons ranging from offsetting maintenance costs to enjoying the social aspect of sharing their cars.
- Classic sports cars: Ford Mustang, Porsche 911, Chevrolet Corvette
- Exotics: Ferrari, Lamborghini
- Luxury cruisers: Cadillac Eldorado, Lincoln Continental
- Unusual choices: Zimmer Golden Spirit, DeLorean, Citroën 2CV
Insurance, Vetting and Roadside Support
A central concern for owners is protection. Hagerty’s insurance covers each rental, and renters must pass a screening process before being approved. Roadside assistance is included, acknowledging that classic cars can be less predictable than modern vehicles. If a breakdown or accident occurs, Hagerty arranges towing and manages claims, aiming to make the process as risk-free as possible for owners.
Why Owners List Their Cars
For many, the motivation is a mix of financial and personal. Some owners maintain a collection too large to drive regularly and see DriveShare as a way to keep their cars exercised. Others enjoy meeting fellow enthusiasts or seeing their vehicles featured in film and advertising. The extra income can help offset running costs, but owners typically retain control over how, when and by whom their car is used.
DriveShare’s growth, from a few hundred cars to more than 2,000 by 2020, suggests a strong appetite on both sides. While not every collector is comfortable handing over the keys, the service has opened up classic car experiences to a wider audience and provided a new revenue stream for those willing to share.
