How much money can i make off of turo

Thirty minutes after the trip ends and you receive your car back, you’ll receive either a direct deposit or a PayPal payment from Turo. Any major repair would fall under the comprehensive 36month warranty most cars come with. Whether it was dealing with a clueless agent when booking awards or calling for retention offers, customer service was key for you. This is because owners can charge more per rental and those in the market for a high-end rental car are willing to fork out the cash to drive it. I have a friend in Los Angeles that could potentially help with that. To quickly summarize, you can start making money on Turo by listing and sharing your car. After paying off the acquired car note, car insurance, and maintenance, this car owner racked in a decent profit.

How Much Money Can You Make with Turo?

Today I will give you an example of one of the cars I use to make money on Turo! New to Turo? A lot of people will be curious, how much can you actually make from Turo? This was a recent revenue screenshot when I only had 4 vehicles. I will tell you the step by step process on how I run my business and how you can do the. As og income from my fleet increases I will provide up to date earnings. The best part about this is that either you can mudh a hands on host or do it remotely.

Getting Started

Drive up Your Income. To sustain this free service, we receive affiliate commissions via some of our links. Our review process. Do you want your car to pay for itself and bring in extra income to boot? You can earn some serious dough by renting your car when you are not planning to use it through Turo. Based in San Francisco, CA, Turo formerly RelayRides is a peer-to-peer car sharing program that allows private car owners to rent out their automobiles via its website or mobile app in exchange for a rental fee paid by the temporary user.

List your car today

Today I will give you an off of one of the cars I use to make money on Turo! New to Turo? A lot of people will be curious, how much can you how much money can i make off of turo make from Turo?

This was a recent revenue screenshot when I only had 4 vehicles. I will tell you the step by kf process on how I run my business and how you can do the. As the income from my fleet increases I will provide up to date earnings.

The best part about this is that either you can be a hands on host or do it remotely. Each has its benefits, but the monej idea is that this can be profitable. This article will help you learn how to make money on Turo. Further articles will elaborate on the details, this is just a taste! This part of the business is extremely important in determining if you are going to make money on Turo.

If you overpay for your car, that will eat xan most of the revenue that you generate. It takes timing and patience but deal likes this exist. Make sure you can take advantage of it when the time arises. Using the skills that I learned being an auto broker in LA I am able to find deals that result in high profitability. A misconception that a lot of people have are that new cars furo very expensive due to high depreciation and thus cannot be rented out at a profit.

Mcuh want you to get rid of this mentality. New cars CAN be expensive and cheap. It all depends on the price that you negotiate and factory incentives for the month. This part of the equation is extremely important in running a profitable enterprise make money on Turo. Every dollar you save when you buy the car is a dollar that is added to your bottom line. Remember, this is a leased vehicle — this means that the entire cost of our lease will be applied towards our revenues there is no equity at the end of the lease.

The mileage cap is not a concern as the car will generate enough revenue before you run out of miles. Based tkro my Accord Sport the car will undergo 7, miles for every 6 months of operation. This yield a working life of 17 months. You can return the car early to the lessor since the balance of the amount is owed. They might even be happy that they get to sell the vehicle early.

That means it would only take mmoney a little over 7 months to reach profitability. Any income generated after our investment has been otf will go entirely to our goal of make money on Turo! You are probably wondering how much time is involved in managing this car for the month. Let me tell you: not nearly as much as you would expect.

After you finish washing the car you will drive to the customer location if you live super far away this obviously would not work and you would need to only accept pickups.

Since we have 6 turnovers the WORST case scenario is 15 hours spent for the month on this one particular car. This will result in even less amount of time required.

Follow this guide and you can make money on Turo. If you have any questions do not hesitate to comment below or contact me directly. Good luck! What is your advice for someone looking to get started renting their car out on Turo? Can you rent your car out if you only have state minimum insurance coverage?

Will the Turo plan cover everything while renting? How did you create now large Turo fleet? Thank you monfy reading my article. My advice is just try with your personal car- if your market has demand you should be able to get a taste of how often your cars could be rented. While this is a way to lower your expenses, I keep comprehensive coverage on all my vehicles.

The peace of mind that you gain from having extra coverage makes it worth it in my eyes. I just started with a few cars and expanded using my credit. I am in the process of creating an LLC and will be expanding my fleet using the business name in the future. I would love to connect and learn more, in addition to using any codes and helping you out in any possible way.

You can always contact me here! For example if I start I know I can have place to clean cars using their power washer, and vacuum. Also mmuch there might be an issue with leasing? What are your thoughts on buying, then selling around 24k miles like car rental companies? Any struggles while scaling? I see some people have 20 cars while others have 4.

As for the affiliate link I am waiting to be approved. I would be curious to know where do you park your fleet and how much you pay for the parking. Looking forward to your future articles! I park my cars in my apartment complex. On the occasions where there are more unrented cars, I will either use guest parking or pay for ogf.

Check with your city to see if you can park cars on the curb overnight! I currently manage all of the cars on my. I averaged around 40 hours spent per month for 8 cars. If you have a friend that can give you a ride back that would work well too!

How about maintenance? Please help. Thank you for your comment. For most leased vehicles they have manufacturer service plans included. Any major repair would fall under the comprehensive 36month warranty most cars come.

The profitability will depend on your market as well as the cars you choose. I currently have a fleet of 13 cars and turn a profit. Thank you for the great info. I want to know do you need to pay for any damages when you return your leased cars? Do you offer any weekly or monthly discount on Turo? Hi Jerry, Thank you for your article.

It is very useful. I listed my personal car on Turo for almost two month but it has not had any booking. One more question, should I switch my insurance to rental insurance because the company said they will not cover my car if I use it for Lyft, Uber or Turo.

Please help me. I would like to connect to you and learn. I am about to start with Turo. The issue is that I have a lease which I am overpaying for based off credit and no down payment. I muh a Hyundai Azera Limited. It has all the bells and whistles like any top end car. Do you think I can make a profit on it or make it pay for itself? Depending on your market you should be able to recoup most of the cost. I would say renting it out on Turo would help with the payments.

You do leases? Is that legal? Does it say in your contract that its for personal not business use? Or do you asked that at the time of lease? I imagine you wouldnt want to tell them that and increase you cap cost. Hi Jerry great article! I am looking at a service such as Hassle-free car that manages all the day to day renting, cleaning and servicing of my vehicle for a monthly fee.

I realize my profit is less, but I am ok with that as the vehicle I would be leasing for this would be used exclusively and thus the availability would be higher. They do accept cars from other states, but I was wondering if you know of a service or maybe any TURO hosts that offers a similar service for people who want to add a vehicle to an existing fleet?

I have a friend in Los Angeles that could potentially help with. Email me at jerry sharingeconomysecrets. I manage cars for others in Las Vegas so if you ever want to come out here let me know! Sport cars do exceptionally well .

How Does Turo Work for Car Owners?

For our first few cars, we leased. They also have an app that you can download in addition to using the website, which is pretty awesome. There are also some pretty awesome car delivery options. Making extra money and leveling up your finances is the goal. Nathaniell What’s up ladies and dudes! He helps people redeem miles all over the world as co-founder and senior award expert at Award Magic. I just started with a howw cars and expanded using my credit. Check with your city to see if you can park cars on the curb overnight! Turo has a feature that auto prices your car based on market data but do not do that! Furthermore, if you are renting your vehicle on Turo, you are required to report your earnings at tax time using a form. More and more services umch popping up that allow car owners to rent their cars out online. The reason for this is because when people are paying for something and are given a limit, they try to get as close to it as possible.