Ever wished someone else would help contribute to your car payment? In true 21st century form, you can now rent out your car by the day to make a little (or a lot of) extra dough.
The Airbnb-like car company Turo helps you to do just that. It also allows people to bypass dealing with car rental agencies and (often) get a cheaper and cooler car. Convertible Audi, Dodge Charger or Jaguar, anyone?
OK, realistically, we may not all have fancy cars to rent out, but most people can appreciate practicality, too, right?
How much can you make?
Want to know how much money you can make? Turo rental prices are based on market value, location, time of year and other factors. And if you prefer, you can manually set your own daily price.
Turo directly deposits 65 percent to 85 percent of the trip price (depending on the package you choose) within five days.
Am I protected?
And the question that probably lingers on everyone’s mind: How will I know my car is protected?
When renting your vehicle out via Turo, you’re car is protected with $1 million in liability insurance, as well as being covered against theft and physical damage.
Also, each traveler is screened before you hand over your keys.
And if all of that isn’t reassuring enough, Turo has an emergency line to its support team.
Rent out your car
Would you consider renting out your car? Here’s how it works:
- Create a free listing of your car, with some clean photos and a description. You’ll also want to keep your calendar up to date so that renters know when your car is available.
- You’ll get a notification when someone wants to book your car. You can contact the traveler with any questions, then confirm or decline the trip.
- Coordinate meeting the renter, then check their license, walk around the car, document fuel and mileage, then send them on their way.
- Go about your day as you normally would, except while pocketing some cash.
- Coordinate a meet-up to pick up the car, make sure everything is in order, rate and review the renter and head back home.
Want to rent from someone?
Go into it knowing that each car that’s listed has to meet rigorous eligibility standards, and you can pick your protection plan for physical damage and liability protection.
Roadside assistance is provided 24/7, along with emergency support, during any trip.
Rent a car
It’s just like Uber, except you are doing the driving, and it's in someone else’s car. Here’s how it works:
- Sign up on Turo, enter your travel dates and search the vast selection of locally owned cars.
- Request to book the car of your choice and the owner will get back to you in eight hours or less (typically less).
- Coordinate the meet-up to get the car and go enjoy yourself.
- Before meeting up to return the car, you’ll replace the gas you used. Then just hand the keys over at a spot you’ve chosen to make the trade at and be on your way.
What do you think? Would you consider renting your car out? Would you use Turo to rent a car on a trip? Let us know in the comment section below.