Turo can help you make money renting your car

Consider listing your vehicle on Turo if you’re looking to make a little extra cash. A no-brainer, because rental prices are sky high. I know a guy who makes $5,000 a month renting his 11-year-old Lexus on the internet as a side hustle. If you want to do the same thing, there is no reason why you can’t.on why you can’t. Getting started is easy with these steps.

How does Turo work?

You can think of Turo as the Airbnb of cars. The website connects landlords and tenants, and provides some of the tools both need-liability insurance, assured transactions, dispute arbitration-to make the transaction as smooth and straightforward as possible.

If you are renting a vehicle and want to go on an adventurous camping trip, you can do a quick Google search for the type of vehicle you want (maybe a 4×4) and you will find people who own car, trucks, and vans who rent them out. These companies may offer more affordable rentals or a higher level of specialization than traditional rental companies.

The Turo platform offers you the opportunity to earn a small amount of extra income if you have a car that you don’t drive every day.

There are a lot of them. Stuart has been able to capitalize on a unique market by identifying specific needs and listing a vehicle that meets them. It’s the perfect 4*4 to travel to Montana, where he lives, to enjoy a camping trip in his lightly modified 2010 Lexus GX460 with all-terrain tires. Due to its ample seating capacity, it is a good option for parents who want to take their kids to Yellowstone or Glacier National Parks.

Those renting a car on Turo must have a car that is 13 years or younger and has fewer than 130,000 miles on it. Any vehicle with a salvage title or that has been declared a total loss in an accident is not allowed. It is important that vehicles listed for sale have up-to-date maintenance, and the vehicles’ safety is confirmed by their owners.

Then why now?

Supply has been suppressed while demand has grown. Large rental companies were forced to sell off much of their fleets at the beginning of the pandemic. Currently, a lack of computer chips means manufacturers are having difficulty rebuilding their fleets to meet rebounding demand, which is a result of supply-chain issues. Despite restricting international travel, many people now prefer to visit states with a variety of natural beauty, rather than Italy or Canada. Montana is one of those states.

There have been record numbers of visitors to Montana so far this year. Its most popular attractions are National Parks Yellowstone and Glacier, which report visits of 11 percent and 15 percent, respectively, through May.

Basic sedans can be rented for over $1,000 per day at Bozeman International Airport. In spite of that price, a Toyota Camry can’t go off-road or carry more than five people. Many mountain towns, and even larger cities, have the same situation, where drivers don’t always have access to the kinds of vehicles they may need for their outdoor vacations. Take a look at Turo.

What is your earning potential?

He resides in suburban Orange County, California, and my basement in Montana. He had been practicing driving up here for some time, but now he’s flying instead of driving when he visits. To keep her, he couldn’t afford to buy a reliable, capable vehicle – until he found Turo.

It would have been impossible for him to miss the wedding this summer. For a week, he would have had to pay $5,000 for a very uninteresting rental vehicle. Instead of spending that kind of change, he realized that he could make it instead by researching the rental-car market.

As a result, Stuart went shopping. A reliable and desirable 44 was born out of this process, the Lexus GX460. Stuart found a nicely modified one with low mileage for just $21,000 in California, where demand is lower than in New York. At the Bozeman airport, he is renting the car for $256 per day on Turo. He is still making about $5,000 a month after accounting for maintenance costs, a few days he uses, and time spent cleaning in between rentals (plus hiring someone to keep it clean and park it). He’s nearly finished paying off the car after three months and is on the verge of making a significant profit.

Would all that effort be worth it if the money were actually made? How has Stuart overcome challenges on his journey? In addition, does Turo have any drawbacks that you may face if you decide to rent out your own car? In my interview with Stuart, I got all the answers to these questions as well as others. You can also make money on Turo by watching the video, below.

See this exclusive Outside+ video walk-through to learn more about what Wes and Stuart have to say about this vehicle.

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