What is Turo?
Turo.com is a website where people can rent their car to travelers and earn additional income. Travelers can book the car of their dreams, and the owner will confirm or decline the trip within eight hours. Turo average earnings for car owners is $500 per month.
How to make money on Turo?
Making money on Turo is based on a service where people can rent their car to travelers and earn additional income. The process starts with a notification when someone requests to book your vehicle. If you agree to the request, you meet your guest at a predetermined location, check the customer’s license, do a walk around, make a note of fuel and mileage, and provide keys. Turo average earnings for car owners is $500 per month.
Are you making money for side income? Or are you still struggling to reach out to how you can earn some good amount of money that will help in your budget? Although there are many ways to earn from them, some options really are suitable and proved as fast earning ways, especially for vehicle owners.
Have you ever thought that your car is making money for you if you are one of them? I guess not so many believe that renting out your car is a great way to make some extra money. Now the question is where and how you can do this; although the vehicle is the most expensive property, you want to be in safe hands. I recommend Turo for this.
This is the best way to earn money; you can earn up to 25% extra of your budget. In this article, the complete guide will be here to know about Turo and renting out your cars on Turo.
Here’s what you need to know about sharing your car and making money on Turo.
What is Turo?
Now, what is Turo actually? The Turo is a company that allows you to rent out your cars (if you want) online and earn through it. The Turo is just like the Airbnb of cars. If you own a car, you can rent it on Turo.
And if you do not own a car and want a car for a vacation here, you will get the car of whatever you like and select them online and contracting directly with the car owner. It’s quite interesting that the owner can make at least $ 500 a month. Turo has provided this platform for the consumer and seller (dealer). Turo’s motto is “let your car work for you.”
You upload your car post when it is available and in its best condition so that your car can provide the best and reliable services to its user. This way, you will earn by sparing no effort on it.
On Turo, you call your car users to whom you will give you to drive are called “guests.”
Pros:
There are many pros, but since one of the benefits is highlighted and can be seen easily, you do not have to make any effort or struggle to make money. You can do your regular job 9-5 without compromising any of your time earning a side income.
Cons:
since everything has advantages and disadvantages, making money on Turo also has some hurdles too; first of all, on turo, it is not easy to make money if compare this to Airbnb, which is quite easy. Like on Airbnb, it is convenient to take care of an apartment and the stuff, but for cars, you need a space to park it, and it should be safe as well. For car safety, you have to be careful and vigilant, and the guest should be responsible for security.
It takes a little time to make some profit on the rides you have offered to the guests because every time you got a new guest, you need to service your car again, which costs you too.
How Turo actually work?
Listing your car is not a thing to make an effort on. This is simple and takes less than 10 minutes to get your car listed on Turo.
Here are some of the steps to follow after you decide to rent out your car on Turo.
- Sign up on the Turo website, which will ask you about yours, like creating your profile.
- After that, you can list your car on it; by adding some cool pictures of your car and its description and setting the charges for a day, you can upload it successfully.
- It’s a great feature that Turo holds; it provides you a calculator that gives complete information about the prices of the cars daily, so you do not have to worry about the average car rates or rents.
- It is an active website to notify you when your car got any interested user or wanted to book your car. You will get a notification right away.
- When you decide and want to move with someone’s request, you set the place to meet. But before handing over the car keys, it’s always better to take some further information, for example, take a small test drive with him or her, check his or her driving license, and make a note of fuel that you check before you set off your car.
- Here you go.
- After the trip, when you get back to your car and its keys, try to remind yourself that you have to completely check the car.
- Then ask for the payments.
This way, you can easily make a deal with your prospective customer or user. Turo has its verified Payment methods through PayPal for international hosts. Here are some of the tips regarding payment and some main policies.
On Turo, if you have the car host for nearly 72 hours or less, you can get the payment, but in some cases, if you have rent out you’re for more than a week, then Turo will pay your payments partially, like after 7 days.
How much money can you earn from renting out your car on Turo??
Well, somehow, the Calculator works as the calculator, basically. It gives you an idea of how much you can earn from renting out your car. You will have a rough idea of how much you can make. In some cases, if your city is not on the list of Turo, you can still get the average idea of your car.
Earning from renting out depends on, or you can totally be based on some of the factors that somehow includes:
- Age and condition
- Style and features
- Ease of pickup and drop off
- Ease of parking
First is your car’s age, of course, the old car will have fewer charges to drive or put it on rent. Put yourself as a prospective guest of your old car. Will you take this risk to hire a car that is way too old?
The second comes to the car’s condition; the more it looks better, the better chances for it to be more in suggestion. If your car does not have the best condition or near to perfection, then it’s quite obvious people might no longer take this for long trips. But there are still the chances for your car if you put fewer charges per day.
Third comes the features, the updated and comfortable car will have better opportunities to be paid on the desired charges you put on it. People will pay for sure; if it does not have the good features and its outdated model is not in any good condition, the same thing happens that fewer charges would have to be applied to them.
You can earn up to 30,000 to 5,000 dollars a year just as a side income for an average and good looking car.
What Type of cars can you put on Turo?
The question is how and which car makes you eligible to rent them out on Turo; it’s not to worry about much, though Turo does not take RVs and Bikes (motorcycle).
I have completed research to conclude that over 850 models and cars are now being on roads. There are gas, fuel, hybrid, diesel, or electric cars ranging from sleek models to rugged ones, Turo accepts all of them.
What happens if my car is damaged when someone drives my car?
If you are putting an ad for your car on Turo, obviously that, you will be worried about your car. In this case, when you go for renting your car on Turo, they actually cover up around 1 million dollars of insurance in case if there is any loss or damage to the car or maybe theft.
Besides this, there is surveillance in the US and Canada on roads that provides the best customer care and services. And if you need any help, you can even contact them.
Tips for hosting your first trip to Turo.
There are some of the tips for you when you host your first Turo trip. These are as follows.
1- Communicate with your car guest
You should be clear about the car condition and everything that your car guest really needs to know. Be confident about every detail and make them feel like they know about the car for so long.
The familiarity with the car and your familiarity with your car guest is the key area you need to clarify before you hand over the car keys. The better you know your guest, the more you will be at ease. Please have a good conversation with him or her before the trip.
2- Service your car
It is always good to give your car a good service before giving your car to the guest. Let it be checked thoroughly and let it be washed inside and outside too.
That will be count as a good gesture. Check by yourself, too, the tire pressure or oil, etc. By doing this, you will have an idea what was the condition of your car before you give this to your guest.
3- Verify your guest’s driver’s license
This is something significant do not take lightly before you set off your car and hand over the car keys to the car guest checking out the license.
Giving your precious car in someone’s hand whom you do not even know is a risk. So before anything, ask for the license and have a good introduction face to face. So you can be at ease after you give your car to them for the trip.
Some small yet important thing: check the expiry date on the license and double the details too. If you encounter any suspicious thoughts, you can contact the customer support service during business hours to ask about your doubts, etc.
4- Be responsive and stay in contact with the host of your car during the trip
During the trip, Turo allows you to make contact on the app to contact each other. In any case, if your car guest contacts you on Turo, you should be active to guide him regarding anything he or she wants help for.
Remain in contact makes you feel relaxed because of the updates, and the car guest will also be in relaxation.
Tips:
Renting out the things you have on your property can be useful if you do not use them. You can make some money out of them.
It’s always useful that people should bring some of those things that they do not have in much use to make some money as the side hustler.
You can spare quite a lot of money by just renting out your car on Turo; just like Turo, there are many other websites you can try to. Since Turo has its own significance, there are better chances for your car being on the safe side. You can always plan to give it a try and earn some extra money, which is not a bad idea.
Good luck with your trip.
After leaving Wells Fargo Bank in 2014, Daniel began a career as a finance consultant, advising companies and individuals on economic policy, labor relations, and financial management.
At Promtfinance.com, Daniel writes about personal finance topics, value estimation, budgeting strategies, retirement planning, and portfolio diversification.
Read more on Daniel Smith's biography page.
Contact Daniel: daniel@promtfinance.com