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Car owners in the San Francisco Bay area can take advantage of several new services that have popped up in response to recently passed auto insurance legislation in the state. Organized pools of private motorists willing to rent out their cars when not in use have significant upsides in both convenience and costs, according to local television news station KNTV.

The way the system works, according to the NBC affiliate, is simple. Owners register their vehicles for the service and get listed on a company's website, from which potential renters can select and pay for their chosen cars. The companies – most notably Getaround and Spride, the TV station reports – take a commission on rental fees, handle auto insurance and ensure the transactions go smoothly. Owners can set their own rates, leading the news station to compare the service to an eBay for car rentals.

KNTV says customers can get smartphone applications to help find vehicles near them, and special hardware installed on registered cars even allows them to be unlocked with the same apps. A wide range of vehicle types is available, the station says, from pricey Tesla electric sports cars to more everyday models.

The NBC affiliate asserts, though, that companies like Spride and Getaround are only the tip of the iceberg. More services should become available soon, since they offer easy ways for car owners to defray their costs and for borrowers to save cash over traditional car rentals.

However, eligible drivers shouldn't jump into these programs with their eyes wide shut. Making sure auto insurance coverage is sufficient and the prospective borrowers are properly screened and licensed is an important step.