In 2012 Arriendas launched the first peer to peer car rental website in Latin America. The site generates an insurance policy and essentially allows an individual car owner to lease their car to Chilean residents and tourists. Over 200 car owners have registered their car for private rental and the company continues to show steady growth each week.
They are serving a huge need in Chile’s car rental market which is serving the ‘under banked’ (those unable to obtain credit through traditional financial sources). An individual in Chile can rent a car through Arriendas without a credit card whereas traditional car rental companies in Chile require both a credit card and a guarantee deposit.
Effective since June 7, 2013, as part of their continued efforts to support entrepreneurs throughout the country, the local Chilean government (City of Santiago) is allowing the general public to rent their car through the Arriendas.cl website and receive full coverage via BCI Insurance. The car owner must register and travel to the Arriendas office to survey and photograph any damage on the vehicle. They also need to show proof of ownership. Continue reading