Recently, I was approached by a company called Turo, which is one of the nation’s largest peer-to-peer car rental marketplaces.
As a personal finance blogger, I was presented yet another remarkable money making method that I considered to be a great opportunity. So of course, it’s my job to present to you these awesome new ways to make money.
Without further ado, let’s see what they are all about and why I think this is such a great financial opportunity!
In a nutshell, Turo will allow you to rent out your car, to someone else while making money off of it.
According to them, you can easily earn $600/month through their service/website. Often times – depending on the value of your vehicle and availability of the vehicle – owners can even make up to $1000/month. They have an easy tool that will allow you to calculate your annual earnings. You can find that page here.
They set everything up through their market place platform, offering different rates and tiers for different vehicle types and offering 3 different tiers when it comes to insurance on both the renter and owner side. More details on their coverage plan can be found here.
On top of this being an awesome money making opportunity, Turo is on average 35% more affordable then traditional rental car companies
I had a chance to have a brief conversation with their marketing manager, and while talking to him I presented them with 5 questions I thought people would want to know the answers to before they’d want to sign up.
So I’ve decided to list these questions and answers for your information:
– How much can people make off of your site/service?
You can earn up to $1000 per month depending on the value of your vehicle and the number of days you rent it out. We have a tool on our “list your car” page that can help prospective owners see their annual earnings. Here is the link to this page.
– How does it work in a nutshell? They register their car, someone would like to book it and they pick it up?
Owners will list their car with preferences set at to their calendar availability, pricing, delivery options (if they want) and more finer settings such as trip duration, advanced notice, and mileage per day limits.
– What about liability, insurance?
We offer 3 tiers of insurance on both the renter and owner side that have different payout/payment structures due to the differences in coverage. More details on owner coverage can be found in this link.
– What’s an average pay someone can expect for renting out their vehicle for an entire day?
There is no clear answer on this one. Our platform has so many different types of vehicles and owners have the option to set their own custom pricing or opt in for our dynamic pricing. This is what makes our platform special because you’ll find cars listed that you may not find at traditional rental companies.
– Are there different rates for different vehicles?
As mentioned before, the listing starts off with a default daily price based on the vehicle itself. Owners have the choice to 1) opt in for dynamic pricing, which fluctuates the price based on location and peak times of the year or 2) set their own custom price for whichever dates they choose
– Is there anything specific and important people need to know to make sure their vehicle qualifies?
This link directs to our help page that specifies eligibility requirements.
I personally think this is amazing opportunity.
You’d be able to make an extra $1000/month, while commuting to your work on the days you rent your car.
It even gets better if you end up working from home, which would be awesome for me since I’m a blogger.
If you’re interested in making even more money from your laptop, you may find it interesting to start your own blog. I’ve created an easy step-by-step guide where I will guide you through the process of getting hosting and setting up your blog ready to make money. I’ve also included a special hosting discount link (only available through my link) which will not only give you a huge discount, but also a FREE domain).