If you’re looking for creative ways to earn extra money but are short on time, why not turn your car into a money-earning machine? Turo, a service that treats a car rental like Airbnb, can help you make more income without needing a second job.
Below, check out our Turo review and learn how you can start making cash with your car.
The Turo app connects people who need a vehicle to people who have a vehicle for rent. If you do not drive often and your car is just sitting in your driveway, you can rent it out and start earning passive income. On average, owners who list their car on Turo make $720 a month.
It’s easy to set up and you can list your car within minutes. Depending on where you live, it’s possible to book many customers quickly.
While Turo takes up to 35 percent of the rental cost, that cut covers insurance for your vehicle and advertising your car on their site, which helps bring in customers.
To list your car, your vehicle must be a 2005 model or newer and have fewer than 130,000 miles. Your car cannot have a salvage or branded title, and the value of the vehicle cannot exceed $150,000. You can rent out leased or financed cars as long as it does not violate the terms of your agreement.
Motorcycles, passenger vans, cargo vans, and vehicles intended primarily for off-road use are not eligible for the Turo app.
Listing your car on the Turo app
To sign up with Turo and start renting out your car, you can use your email or Facebook login. Once you have an account, click on “List Your Car” at the top right.
The site will prompt you to enter information about your car, including your license plate number, photos of your vehicle, make and model, and whether or not your car has an automatic transmission.
While Turo may recommend a rate for you, you can also manually enter your own fee. Turo charges by the day, with discounts for weekly or monthly rentals. Renters must pay a full day’s rate; there is not an hourly option.
Turo will ask you to select an insurance plan. The company offers three options: premium, standard, and basic. Depending on what option you choose, you can collect between 65 and 85 percent of the rental fees. If you opt to purchase your own commercial car insurance, you get a larger cut – 90 percent of the rental rate.
You also decide how the car gets to the renter. You can charge a delivery fee if you are willing to meet the customer at the airport or another agreed-upon location. Or, you can park the car at a Turo Valet lot for customers to pick up on their own. This information is included in your listing so customers know what to expect from the beginning.
You can charge a delivery fee which covers both pickup and return, so make sure you set a rate that meets your needs.
You can set limits on how much mileage customers can put on your car. For example, you might set your daily driving limit at 50 miles. If the renter exceeds that amount, they are responsible for paying $0.75 per additional mile and you receive 100 percent of this extra payment.
Finally, you choose your car’s availability. You can decide to have your car for rent only on certain days, or set it as unavailable for specific dates in the future.
How to earn more on Turo
When listing your car on Turo, try to think about it from a renter’s point of view. Besides including pictures of your vehicle, include details like measurements of trunk space for luggage, whether or not your car has a bike rack or can tote a kayak, and if anyone has ever smoked in the vehicle.
Include other nice to have accessories in the description, such as satellite radio or a built-in GPS. Those features can boost your chances of finding a customer.
Take a look at what other people are charging in your area for a similar vehicle. For instance, if you own a mid-sized sedan and others are charging $50 a day, you can set your price at $40 and get more customers.
And when it comes to customers, great photos are a must. Listings with professional photos get 50 percent more traffic than other listings. That’s why Turo offers free professional photography shoots for owners. When you’re ready to list your car, you can apply for a free photo shoot.
You’ll meet the photographer at a nearby location and they’ll take photos at different angles to highlight your car and make it look showroom-ready. You can use those photos in your listing to get more traffic and book more customers.
Turo also recommends promoting your car on social media and Craigslist so travelers looking for a deal can find it. And the more your car is available, the more money you can make.
Turo customer service
Turo offers comprehensive customer service to both owners and travelers. When a customer accepts a rental vehicle, they are asked to take pictures of the car to show its condition, and you can do the same on delivery and pickup. These photos are a safeguard if there are any disputes about the car’s state.
Customers are expected to treat cars like their own, but if they return your car and it has damage or is filthy, Turo will step in to help resolve the issue for you.
You can contact them and send them photos of your car’s condition. They’ll work directly with you to find a solution. If your car needs professional cleaning or repairs, send them the receipt and they will reimburse you. Offending passengers who leave a car dirty, drain the battery or otherwise damage a vehicle are responsible for fees and repairs.
And if a customer swore they could drive your car with a manual transmission, but turned out to not have a clue, Turo will hold them responsible for any repairs or replacements.
Background on Turo
Turo was founded in 2009 in San Francisco. The company set out to change how people rent cars. Rather than shopping from big rental companies, with hefty fees and robotic customer service, customers can rent from real people. They can get qualify vehicles for less money and get personalized service.
Turo serves customers of all types. Whether you have a pickup truck to rent out to people on moving day or a sports car for someone taking out clients, you can make money renting out your rarely-used vehicle.
Turo contact information
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