Carswinger.com Announces the World's First Peer-to-peer Car Sharing/Rental Program
by Anonymous

April 29, 2004 -- "Many individuals and families own second or third vehicles for recreation or utility purpose", said TK Sung, the founder of carswinger.com. "And the owners must make payments on those vehicles while they sit idle on the driveway most of the time. Carswinger.com will let those vehicles productively employed and pay for themselves by letting other people use them at substantially lower cost than comparable rentals, benefitting both the owner and the renter".

The members of carswinger.com can list their vehicles on the carswinger.com website and make them available for rental for specific dates. They can also browse or search available vehicles by various criteria, such as model and locale, and place reservations on them. Carswinger.com will take care of insurance and paperwork, and the owner and renter only need to exchange the key according to the instruction provided by carswinger.com. Carswinger.com will then settle the payment between the owner and the renter when the transaction is complete.

Carswinger.com website, located at http://www.carswinger.com, is currently going through the beta test. Any member who joins the club before June will enjoy free membership for one full year.

Carswinger.com, founded in January 2004, is a privately held company headquartered in Santa Clara, California. It is a member of The Enterprise Network startup incubator which includes eBay among many others as its graduates.




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