When we launched Sync, we knew that one of the hardest parts for a Host is getting the right price for their car. Don't just put it “as high as possible”. Nor to drop it “as low as necessary.” To find it where it brings the best result. Today, we launch a new tool to help you with this: the PriceFit.
What is PriceFit
PriceFit is a simple number that shows how “aligned” your car's daily rental price is to its commercial value. How we calculate it:
{PriceFit} = ({Daily Price}/{Trade Value}) X 10.000The lower the PriceFit, the more attractive your price is relative to the value of your car. The higher it is, the more “premium” the positioning of your price is. And to make your life easier, we calculate PriceFit and display it directly on your dashboard. Then, we compare it with the market average.
Example: Tesla Model 3
- Commercial value: €30,000
- Daily rental price: €80
So: (80/30,000) x 10,000 = 26.7. => PriceFit for the Tesla Model 3 is 26.7. If the average PriceFit on the Sync platform is !24, then:
- Your price is slightly more “premium” than the average rental on the market.
- This is neither good nor bad in itself — it is information to better understand your vehicle's market position.
If you have a good booking flow, this may be a sign that you can keep going or even try a small increase. If you have low demand, maybe a little downward adjustment will make you more competitive.
Important note: PriceFit is compared to the entire market, not just the same model.
In our example, PriceFit doesn't just compare you to other Tesla Model 3 or cars in the same class. It compares you overall with all the cars in the Sync marketplace. Why? Why PriceFit “normalizes” the value of each vehicle: a Tesla and a Toyota, if properly priced relative to their value, will have similar PriceFit.
So you can see where you are overall in the market — not just within the “tight” competitive environment of your vehicle class.
What is required from the Host?
What a Rental Host actually needs is not the highest daily rate. It is the best overall financial income.
Very often, our natural instinct is: “The higher the price per day, the better”. But in practice, the key is the overall income over time. Let's look at an example:
- If you charge €80 per day and you get 5 booking days per month, you earn €400.
- If you charge €70 per day and you get 9 booking days per month, you earn €630.
So a slightly lower price can bring you much more overall revenue. And don't forget: more bookings mean more opportunities for extras, delivery fees and repeat customers. The right price is not always the most expensive. It's the one that maximizes your income over time.
How to use PriceFit
- Take a look at the priceFit of each of your vehicles relative to the average.
- If you see that you are well above average and bookings are few, try a small adjustment.
- If you see that you are low and have steady bookings, it may be worth trying small increases to find the ideal spot.
PriceFit is your tool to play the pricing game smartly — and win it. 🚀 Enter your dashboard and see how your car stands today!
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