Many of the people who have rented from me on Turo have tons of questions about the platform. They want to know if they should try to rent a vehicle or two on Turo and if I make money. Yes, I make money but getting to profitability isn't easy. Especially because Turo takes pretty hefty fees - they used to let you keep your delivery fee, and quietly they started taking part as well. And they don't offer a tip feature - basically, there are no clear signs that Turo is interested in helping hosts make money - they just want your car. Making it a profitable business depends on you and the company you build around Turo or beyond the platform.
The Turo Basics
Turo is a car-sharing platform that allows individuals to rent out their personal vehicles when they are not using them. Some people have found it a good way to earn extra money, as they can set their own rates and choose when their car is available for rent. However, it's important to keep in mind that Turo does take a percentage of the rental fees as a commission, and there may be additional costs associated with renting out your car, such as insurance and cleaning fees. It's also worth considering whether the potential income from Turo would outweigh the wear and tear on your vehicle and the time and effort required to manage the rentals. Ultimately, whether Turo is a good way to earn money will depend on your individual circumstances and goals. But don't fall for the passive income trap - you will be cleaning, repairing, and transporting cars multiple days a week. It's not passive. But it can be fun to meet new people and help them with their car rental needs. In fact, that's the part I like the best.
The Biggest Turo Drawback
Turo provides insurance for its hosts and guests, which may cover damages to the car resulting from a Turo trip. However, this insurance does not cover routine maintenance or repairs that may be needed due to normal wear and tear on the vehicle. Hosts are responsible for maintaining their vehicles in good working condition and ensuring that they meet all safety and mechanical standards. If a host's car breaks down or requires repair during a Turo trip, Turo's host support team may be able to assist with finding a solution, such as arranging for a replacement vehicle or providing reimbursement for transportation costs. However, hosts are ultimately responsible for any repairs or maintenance that may be needed on their vehicles. Remember, people are renting your car - you may avoid accidents or engine replacements but you will always have to get new tires, oil changes, fluid refills, etc. and Turo doesn't help with that at all. You just have to weigh the odds for you and your situation.
Turo Biz must-haves:
You will constantly be cleaning a car, and this pack is a lifesaver: https://amzn.to/3w0Wk6u
This towel will come in handy for your Turo biz: https://amzn.to/3CF4wNF
Trackers are recommended: https://amzn.to/3GYAPK2
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