WhipCar: Neighbor-to-Neighbor Car Rentals

Let's face it: We're not going to ditch the domestic car completely anytime soon. But we might as well get smart about how we use it. Right now, most of our cars sit idle most of the time. And they're pretty expensive, given how little we use them. The average cost of ownership for a car is nearly $8,000 a year.

What if there were a convenient way to rent out your car? Or to pick up one from a neighbor for a day if you don't have one? That's the idea behind WhipCar, which opened for business in London this week. WhipCar lets people rent out their own cars to neighbors. The owner picks a price, WhipCar gives the car a checkup and looks into the renter's record, and nobody's insurance is affected. With a system like this, we don't have to buy (or produce) as many cars, car owners can make a little money back, and neighbors can get to know each other.