TravelCar hopes to be the 'Airbnb of vehicles'

LOS ANGELES (KABC) -- Paying to park a car somewhere before an out-of-town trip can be expensive. That is where TravelCar wants to take the wheel.

"We're the Airbnb of vehicles for you," said company employee Shant Mouradian.

TravelCar lets people rent a traveler's car while he or she is on a trip. People can reserve a vehicle through the company's app, its website or by phone. Travelers get paid based on how many miles a renter drives a car.

"Our mission is to eliminate useless waste of vehicles," said Mouradian.

TravelCar started in Europe and began its U.S. expansion in California. People have already signed up to save some money.

"We take a trip every year and we end up parking at the airport for up to two weeks. I think the last time we did it, it was about $280, and I can think of better ways to spend $280 than just leaving my van somewhere," said customer Brian Costa.

TravelCar makes sure travelers' vehicles are washed before they return. The company also has a million dollar insurance policy that supposedly protects an owner from damage a vehicle sustains while it is being rented out.

The company imposes some restrictions on the types of vehicles eligible for its services. It does not accept cars that cost more than $50,000 or ones with 90,000 miles on it. According to Mouradian, the company also stays away from electric cars, pickup trucks and vehicles with manual transmissions.