Thinking of renting your car in Turo?
That’s great for a bit of side income!
But you might be stumped…
How do you do it?
Where do you begin?
We’re here to help.
In this article, we’re going to give you a complete guide on how to rent your car on Turo. Plus, we’ll also see if renting through Turo is worth it.
With this, you’ll know everything you need to know before getting started.
So buckle up and let’s go!
How to Rent Your Car on Turo in 6 Steps
Here are the 6 steps on how to rent your car on Turo:
- Check out Turo’s Carculator
- Create a profile
- Share your car details
- Determine your car availability and rate
- Wait for bookings
- Collect your earnings
Let’s go through each step in detail.
Step 1: Check Out Turo’s Carculator
Before anything else, figure out whether renting your car on Turo is profitable for you. An easy way to determine this is by using their online carculator.
Choose your region and budget range. From there, check the car makes and models to estimate how much you can earn. Remember, it’s a ballpark figure. Several factors will come into play later, such as your car’s availability, add-ons, and insurance plan.
Step 2: Create A Profile
Now it’s time to create an account with Turo.
Simply go to their website and click “Become a Host” at the top right corner. You will then need to create your account. You can use an existing Facebook, Apple, or Google account. If you prefer to use an email address to set it up, that’s also possible.
Once your account is live, you can list your car.
Step 3: Share Your Car Details
Have the following information ready so you can add it to your Turo profile:
- The location of your vehicle
- Vehicle Identification Number (VIN)
- Vehicle make, model, and color
- Vehicle mileage
- Vehicle transmission type
It’s best to upload several pictures of your car. Although you only need one to complete the process, having more can pique drivers’ interest.
You also have to write a description of your car. Don’t forget to highlight features that set it apart — for example, indicate if it has GPS, is a convertible, or is a hybrid.
However, be sure to keep it short and sweet. Potential drivers may be discouraged from reading it if it’s too long.
Step 4: Determine Your Car Availability and Rate
Okay, these are the factors that affect your earnings, so think about them carefully.
First, indicate when drivers can rent your car. Your initial options are between these:
- Every day
- Only on weekdays
- Only on weekends
- Decide later
If you’re not comfortable with any of these, it’s okay. You can choose a range of dates to start and then update it later.
Second, determine how much you’ll charge per day. The good news is that Turo helps you out if you’re unsure.
You can go with the rate Turo’s Automatic Pricing System calculates or you can price it yourself.
Third, choose an insurance plan. Turo offers five protection plans. What you choose affects your earnings, so consider each carefully.
|Plan||% of trip price||Deductible||Reimbursement|
|Replacement Vehicle||Exterior Wear & Tear||Loss of Income during Repair|
* All plans include $750,000 in third-party liability coverage *
** Turo shoulders the entire amount for eligible damage costs **
Step 5: Wait for Bookings
Once your listing is up, sit back and wait for drivers to book your car. When someone makes a rental, you can check their profile and have the freedom to accept or decline their request.
You can confirm their transaction through the Turo app. Don’t forget to discuss how and when you’ll give the keys to the driver. You’ll also have to agree on where the driver must bring your car when they’ve finished using it.
A word of caution, though. It’s best to take pictures of your car, mileage, and fuel level before you hand over your keys.
Step 6: Collect Your Earnings
Collect may not be the correct term since Turo makes direct deposits to your bank three days after your first rental.
Of course, you’ll get your earnings faster for future ones — Turo begins the process three hours after the driver returns your car. If a driver rents your vehicle for more than a week, Turo releases payment once every seven days.
Is Renting Your Car on Turo Worth It?
There’s no such thing as a risk-free decision. And joining the car-sharing space certainly comes with potential problems.
- Your perspective needs to shift. Renting out your car means you’re in the service and hospitality industry. You’ll have to deal with different (and, sometimes, challenging) personalities, and you’ll have to reign in your frustration.
- You’ll need to ensure your car’s in good condition if you want drivers to notice it. Remember, you’re not the only one renting out your vehicle.
- You’re renting out your car to strangers who may or may not take care of it the way you want them to.
However, despite the possible drawbacks, we must admit that the benefits can outweigh them. Consider the following:
- Turo isn’t picky about vehicles. Yes, there are standards to meet, but these aren’t much of a challenge. You’re good to go as long as it’s not older than 12 years and has less than 130,000 miles.
- You already have the primary requirement. Yes, you’ll have to spend a bit of money making sure your car’s detailed and in good working condition, but you don’t have to get a new one. Use what you already have to earn passive income.
- There’s a lot of flexibility. Turo offers five plans to hosts. These vary in the percentage you get to keep and the insurance deductible you must shoulder. For example, Plan90 allows you to get 90% of your earnings, but you must spend a $2,500 deductible before Turo’s coverage kicks in.
So, is renting your car on Turo worth it?
Yes — but ultimately, you’ll have to decide on this yourself.
And there you have it! All the information you need to know on how to rent your car on Turo.
Now you know how to use Turo, as well as its pros and cons, why not get started right away?