Turo: How to Turn Your Car Into a Money-Making Machine

Advertiser Disclosure

Student Loan Hero Advertiser Disclosure

Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality and will make a positive impact in your life. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print understand what you are buying, and consult a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time. Please do your homework and let us know if you have any questions or concerns.

Editorial Note: This content is not provided or commissioned by any financial institution. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by the financial institution.

Logo

We’ve got your back! Student Loan Hero is a completely free website 100% focused on helping student loan borrowers get the answers they need. Read more

How do we make money? It’s actually pretty simple. If you choose to check out and become a customer of any of the loan providers featured on our site, we get compensated for sending you their way. This helps pay for our amazing staff of writers (many of which are paying back student loans of their own!).

Bottom line: We’re here for you. So please learn all you can, email us with any questions, and feel free to visit or not visit any of the loan providers on our site. Read less

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.

Turo review

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.

Make extra cash with Turo

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.

Turo review

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.

Let your car work for you

You can charge a delivery fee which covers both pickup and return, so make sure you set a rate that meets your needs.

Turo app

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.

List Your Car on Turo today

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 boasts that customers pay 35 percent less than they would renting through an agency, and the majority of that money can go to you.

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

To contact Turo, you can use their online request form or call them at 1-866-735-2901. You can also follow them on Twitter and Facebook.

If this Turo review inspired you to start thinking about earning extra income, check out this article on 30 ways to turn your talents into cash.

Want to earn extra money?

Here are the best side hustle opportunities!
CompanyType of WorkRequirements 
RidesharingCar and smartphoneBecome An UBER Driver
RidesharingCar and smartphoneBecome a Lyft Driver
Rent out your carOwn a vehicleList Your Car
Rent out spaceRoom to host guestsBecome an Airbnb host
Odd jobsSmartphoneBecome a TaskRabbit Tasker
DeliveriesSmartphoneBecome a Postmates Worker
Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality and will make a positive impact in your life. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print understand what you are buying, and consult a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time. Please do your homework and let us know if you have any questions or concerns.