Owning a Slingshot Just Got a Lot More Profitable

car sharing

A Polaris Slingshot is an autocycle; it’s not quite a car and not quite a motorcycle.  It looks like something you would see in a Batman movie — it has a very sleek design and two wheels in the front and just one in the back (which is why some people call it a reverse trike).  Its a very unique vehicle that captures your attention if you’ve never seen one on the road before.

From a rental standpoint, it has the novelty factor of an exotic, expensive car like a Tesla or a Porsche, but costs much less at about $20,000 to $30,000.  Polaris Slingshots are often listed on websites like Turo and RentaSlingshot at prices of $100 to $200 per day.  Doing the math, with no other expenses accounted for (which you will have a few including rental commissions if you use a carsharing site), you could break even after just 100 rental days.  That sounds like a great money maker compared to something like a Maserati that sells new for over $100,000 and might rent for a similar price.

The potential pool of renters for autocycles has been very constrained, because most states require you to have a motorcycle endorsement or license.  Because less than 5% of the population has this, the renter pool is quite small.  The market just got much bigger (20x) in certain states like Arizona that no longer require a motorcycle license for autocycles.  Someone visiting Phoenix for a few days or a local wanting to try one out can just rent a Polaris without the hassle of taking a 3 day, $300+ motorcycle license course, then going through the process of getting the endorsement added to their license.

While there are not very many currently available for rent on car sharing sites, it would not be surprising to see more of these pop up soon.  Most people don’t use their Polaris Slingshot for everyday commuting, thus it makes a perfect car to rent out on a car sharing service.  Any type of income that a “toy” like this can generate will be seen as a huge positive for current owners and potential buyers.

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