- in The Good by Caroline So
Turo Review – Why Car Rental Companies Are Threatened By This Startup?
Welcome to My Turo Review!
What if you can drive a new car… every single day? Sounds crazy, right? But with this car-sharing company, it’s possible! Apparently, you can rent from hundreds of models of cars that “you won’t find anywhere else.”
Turo Review Summary
Founders: Shelby Clark
Product Type: Peer-To-Peer Car Sharing Company
Price: Free To Register + Charges For Car Owners And Guests
Quick Summary: Turo (formerly known as RelayRides) is a legit peer-to-peer- car-sharing company that offers a good and cheaper option for car rentals. It lets the member book cars in an instant using an app. It also allows car owners to earn extra cash by renting out their own vehicles.
Overall Rating: 8/10
Also, you can make money by renting out your very own vehicle. But before you sign up to rent new wheels or to earn money from it, be sure to read the entire Turo review first to learn the basics, such as how it works, what are its pros and cons, and more.
What Is Turo About?
“Way better than a rental car” -- that’s what Turo promises. This peer-to-peer car-sharing company lets car owners make money by renting their own automobiles and individuals rent from more than a hundred cars with or without insurance.
Think of AirBnB that allows you to stay in other people’s houses or condos but this time, it’s cars.
Based in Massachusetts, the car-sharing company was founded by Shelby Clark in June 2010, and before rebranding, it was called RelayRides.
After a couple of years, the startup company has been launched all over the USA and has tied up with two of the most popular names in the car industry -- OnStar and General Motors -- for the reason of allowing car renters to use their smartphones in unlocking GM cars.
However, the brand halted the integration after a year and switched to “in-person key exchange” instead.
For four years since 2010, Turo has received funding from big companies, such as Google Ventures, Shasta Ventures, Canaan Partners, Trinity Ventures, and August Capital.
In 2015, the brand received recognition, such as “The Hottest On-Demand Startups” from Forbes. In the same year, it was rebranded to Turo and switched to long-term from short-term rentals.
From 2016 to 2017, the car-sharing company started its service in countries outside the US, such as Canada (Quebec, Ontario, and Alberta only) and the United Kingdom.
In 2018, the brand launched its own mobile application called Turo App. It has a remote unlocking system and GPS monitoring.
Despite the success of Turo, it has faced a couple of mishaps, too. One of which is unlicensed insurance activity in New York.
How To Use Turo?
Car owners who want to make money by renting out their car can register online and notify when and where the vehicle will be available.
Meanwhile, if you’re interested to rent a car, you have to become a member first and you can sign up by creating an account using an email address or by simply logging in using your Google or Facebook account.
Next, all you have to do is book the car you want, pick it up, drive, and return the vehicle. It’s as simple as that. Of course, you need to have a license so you can rent an automobile.
Some of the most popular cars rented on the platform are Fiat 500, Ford Mustang, and Jeep Wrangler.
As for the rental costs, it depends on the type of vehicle you’re planning to rent. For instance, if it’s something practical, it can cost $25 per day but for something luxurious like Lamborghini, get ready to spend $100+ per day.
How Booking Works
If you’re familiar with AirBnb and how it works, Turo car rentals service works almost the same.
Once you’re a member and you have downloaded the app, all you have to do is look for your dream car… or at least the car you’re interested in and capable of paying for.
You can choose from these types of booking -- Book Instantly and Regular Booking.
As the name suggests, you can book the vehicle right away when you opt for Book Instantly. You don’t need to wait for the car owner’s approval. The other option will require consent and you can receive a notification within eight hours or less. Normally, you don’t have to wait for this long so unless you’re in a life and death situation or a hurry, you can just choose the regular one.
Before you check out, you’ll have to choose the pickup and return location. You can also ask the car owner to deliver the vehicle to your current destination, of course, with extra cost.
In case of unexpected events, you can cancel the rental from the app itself or by going to their official website. You should also notify the owner about the changes within 24 hours. As for the refund, it depends on the length of your trip and when you canceled it.
However, when the car host canceled on you, you can get a full refund.
How To Make Money With Turo
As mentioned, you can rent out your car to earn extra bucks with Turo and basically, the brand takes 10 to 35% commission out of it. Also, your vehicle should meet a few prerequisites, such as:
- The car should not be over 12 years old
- The car should be 130,000 miles or less
- The car should have a clean title
- The car should no require a commercial license, like limousines and full-sized vans
- For specialty cars, the model year should be 1990 or older and in excellent condition.
To begin listing your car, you have to register your vehicle first and that means uploading photos of it and providing necessary information.
The next step is to notify car members about its availability and you will receive a notification, too once the vehicle’s been scheduled for us. As the owner, it’s your responsibility to check the renter’s license to drive and your car’s mileage, condition, and fuel.
As for the amount of cash you can make from listing your car, it depends on your model but just to give you an idea, the average earnings of a Turo Host are around $500 to $720 a month. It’s big enough to be used for car payments, daily expenses, or savings for retirement.
It’s also a good source of passive income since you don’t have to drive someone around to make money; all you have to do is lend your car for days.
To learn more about Turo, you can watch the video below:
Is Turo A Scam?
Is Turo legit? The answer is yes! The car rental service is an authorized platform you can use when you want for car rentals or when you want to make money.
It’s recognized by various communities, such as Forbes.
It offers a lot of benefits for both car owners and individuals who are interested to rent vehicles. For instance, in case you don’t have enough cash to purchase your dream car, you can just download the Turo app, enter your personal and payment information, and message the host.
It’s that easy!
If you want to make money and of course, you have the car, all you have to do is register and notify Turo members about the availability of your car. $500 a month is not bad but of course, there’s no guarantee that you’ll be earning this amount.
Since it’s a rental service, it depends on the number of bookings you receive every month.
There’s no upfront cost when you join Turo but there are charges for both car hosts and guests. For instance, you’ll pay $30 up to $250 for smoking, pet, or cleaning violation and it depends on how serious the violation is.
There’s another charge for additional mileage and it could go high as $1,000.
For guest cancelation, it may cost the entire day’s trip, depending on the length of their trip or when the cancelation was processed.
You can click this link to learn more.
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Who Is It For?
Turo is best for car owners who are willing to rent out their vehicles. After all, it’s a good source of passive income since you don’t have to drive anyone around. The average amount that car hosts earn is reasonable enough and can be a good extra amount for paying debts, covering car payments, or savings for retirement funds.
For those who have no cars or just want to drive a different automobile from time to time, this is also a good option. There are many models to choose from and as long as you’re capable, you can even rent luxury cars for your trips.
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Turo car rental service provides a good platform for both car owners and interested individuals. It offers a hassle-free way to rent a car more conveniently and cheaply. It’s available in more than 3,000 cities in the US so if you’re on a vacation and if you need a vehicle, you can just book using the Turo app.
Also, if you’re a car owner looking for extra cash, you can take advantage of the platform. There’s not much of a requirement and you can easily start making money as soon as you’ve registered.
Although it’s founded in 2010, the concept is still new and almost unique. It’s like AirBnB but instead of fancy accommodations, it offers more than a hundred vehicles to choose from.
If you are looking for a legit way to make money online and let's say you don't have a car to rent out, you can sign up with my top-recommended program and get access to the following:
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Thank you for reading my Turo review and if you have any questions or comments, please feel free to share it below.