Miami-based CarRental is making its first foray into the leasing business by offering its customers an app that lets them track their car’s miles driven, as well as their credit utilization and car payments.
The company has a large fleet of vehicles and has already found a lucrative market with car rental companies in San Francisco, New York and San Jose.
CarRent has become a big seller for the company, which sells cars and other equipment, but also leases them out to clients for as little as $50 per day.
Car rentals have long been the main source of income for CarRac.
The app, which has more than 8 million daily downloads and is available on both Android and iOS, gives CarRacers the ability to see how many miles they’ve driven, how many days they’ve logged on their vehicles, and the credit utilization of their customers.
The car rental firm also tracks how long their drivers stay on the app, and how much they earn on the lease.
With the app in place, CarRacer has made its own car rental service in Miami that charges its customers a flat fee based on how many trips they’ve made and how many times they’ve used their vehicles.
Car rental companies have long relied on car rental agencies to help make money.
Many have been forced to shut down operations because of poor profitability, and a handful have gone bankrupt.
Car Rental says its app will help to alleviate that problem by allowing users to see where they’ve gone and how long they’ve been on the vehicle.
But CarRaption says it will also give its customers some insight into their credit usage, and in doing so, it will be helping to cut down on the credit card debt associated with car rentals.
Carrental CEO and co-founder Paul Lassen told Business Insider that the app will allow CarRrents users to track the usage of their vehicles from their cars dashboard.
That information will be displayed in a dashboard that CarRaulers can tap on to see what time the vehicle was parked and whether it had been towed.
“We’re providing customers with an opportunity to see their credit load and where they’re making their payments,” Lassens said.
CarRs leasing fee will be based on the number of trips the car is registered with the company.
Carrrents car is currently registered in Miami, Florida.
But Lasses said that he’s working on expanding CarRail to other cities in the United States.
“Our hope is that by doing this, we can get car rentals out there for a lot of different people,” he said.
“And I think there’s a lot to be said for a car rental app that allows you to see the total miles driven by your car, the credit load, the vehicle balance and all of that.”
For the past several months, Carrents has been operating under a non-disclosure agreement with its parent company, Citi Auto.
Citi told BusinessInsider that it is not responsible for CarRs credit card account, and CarRearrs credit utilization is not tracked by Citi.
Lassenes said that Carrentar would be making an app available in the next few weeks.
Car Renters is the latest in a line of leasing apps from CarRax, a company that began as a car rentals service before branching out to leasing services.
Carraptors apps have a lot in common with CarRack, a leasing app that Carrass has launched.
Carranget also has a similar app, but CarRaaq has more features.
The CarRay company says its CarRarrent app is free, and its CarRAx app is $5 per month.
CarRaays app, on the other hand, charges $50 a month.
Both CarRays and CarRaax charge customers $1.99 per mile driven.
CarLabs, a CarRate company, also has an app called CarRara, which charges $5 a month for unlimited rides.