Pretty much everything you need to know about the $$$ side of things.
How much are Lynk & Co's service fees?
Lynk & Co will introduce service fees per hr & per day in summer 2021. From launch Lynk & Co will not be charging any service fees in any markets.
How do I set my rental price?
Lenders can set their rental prices from the mobile app:
1. Click on share. 2. Click on the settings icon in the top-left corner. 3. Enter in a price per hour. 4. Enter in a price per day.
Lynk & Co recommends a price of 5-7 euros per hour and 30-40 euros per day.
Understanding the difference between daily & hourly bookings.
1.Pricing logic a.The first 6 hours of any 24 hour period are charged at an hourly rate b.The remaining 18 hours are charged at a daily rate c.Lynk & Co will also charge an hourly or a daily ‘Lynk & Co fee’ – this covers insurance costs, help & support costs & Lynk & Co’s fees.
2.Pricing examples a.A 5 hours booking will cost 5x the hourly rate + 5x the hourly service fee b.A 20 hour booking will cost 1x the daily rate + 1x the daily service fee c.A 28 hour booking will cost 1x the daily rate + 4x the hourly rate + 1x the daily service fee + 4x the hourly service fee.
What price will the borrower see?
Lenders set the ‘Lender’s Fee’ of their choice per hour or per day. Lynk & Co charge an additional ‘Lynk & Co Fee’ per hour or per day to cover service costs & insurance.
Borrower’s will see and pay the ‘Rental Fee’ which is equal to the ‘Lender’s fee’ + the ‘Lynk & Co Fee’. Borrower’s are also responsible for paying for any difference in fuel level at the end of the booking at a market fuel price set by Lynk & Co. Borrower’s are also responsible for any supplementary costs that occur during the booking e.g. parking or speeding tickets as specified in the terms & conditions.
Guide to handling mileage.
If you are a subscription customer the km’s driven during a car-sharing booking will not count towards your subscription mileage.
If you choose to end your subscription with a vehicle that has excess driven excess km’s no charges will apply due to km's driven during car sharing although the usual charges will apply to any excess km's due to normal usage.
How long until I get paid?
Payouts are made every 7-14 days.
I have a late or missing payment.
If you have a late or missing payment check your payout information. If everything looks okay then get in touch with our engagement center to help sort it out.
Managing payout settings & Billing information.
You can manage your payout settings & bank account information under the ‘my pages’ section of the mobile app. A lender can only have one bank account for payouts. If you update your payout settings all future payments will be made to your new account.
How do receipts work?
At the end of every booking a booking you will receive a receipt showing the full breakdown of the booking including:
1.Market fees (your earnings) 2.Service fees 3.Fuel debit/credit 4. Any extras such as booking extensions or late return fees
Do I need to do a tax return?
This depends on your market. We recommend checking with your local tax authority.
Why does Lynk & Co need my billing information?
Your billing information, home address & drivers license are all used to verify your identity and perform anti-money laundering checks.
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