Hired the red car out (9)
I believe the answer is:
chartered
'hired' is the definition.
('charter' can be a synonym of 'hire')
'the red car out' is the wordplay.
'out' indicates anagramming the letters (out can mean wrong or inaccurate).
'the'+'red'+'car'='theredcar'
'theredcar' with letters rearranged gives 'CHARTERED'.
(Other definitions for chartered that I've seen before include "Professionally qualified - not scheduled" , "Hired privately" , "Engaged" , "Leased" , "Hired, a boat perhaps, for exclusive use" .)