Startup MyMonthlyCar Aims to Monetize Idle Used Cars Through Monthly Rentals
MyMonthlyCar is a startup aiming to connect car dealerships with consumers seeking flexible rental options for used vehicles. The platform allows local dealerships to list their inventory online and rent cars on a month-to-month basis, offering customers the option to eventually purchase the vehicle. Founder Igor Dobrianskyi highlights that millions of used cars sit idle in U.S. dealership lots while demand exists among those needing temporary transportation solutions. The startup charges both dealers and renters 10% per transaction but does not charge for listing vehicles on its platform. MyMonthlyCar has secured seven dealer partners to test the service and is finalizing an insurance program, which it views as critical to addressing liability concerns from dealership clients. The company plans a launch later this year after launching its insurance offering. Currently bootstrapped, MyMonthlyCar aims to scale rapidly with ambitions of 100 dealerships, 2,000 monthly rentals, and $300,000 in revenue within the first year. Over five years, it projects reaching $42 million in annual revenue.
Topics: car rentals entrepreneurship startups used cars