By: Darrell Castle
Ford is introducing Peer-2-Peer Car Sharing, a program that will help ensure vehicle owners are able to afford their monthly payments.
The program — which is in its pilot stage — is currently available in Berkeley, Oakland, San Francisco, Portland, Chicago, Washington, DC and London. Ford’s says research shows young adults have shown interest in this as a way to supplement their beginning income.
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Should this program find success, then maybe we’ll see it in Memphis one day.
You can find out more about this program here.
My Take
Innovation is a beautiful thing and should be embraced. And there’s nothing wrong with this program on the surface.
As a bankruptcy attorney, I see people lose their car all the time, either for irresponsible money habits, or they just simply can’t afford it. A program like this could serve as a great way to get to and from work without spending a lot of money on a car payment.
And as a personal injury attorney, I worry about liability issues in the case of a car accident. Who insures the car’s original owner? What are his limits? Is she covered if the renter kills someone? If those questions are resolved, then I’m all for it.
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