Have you ever tried to make money on Turo? It is a service that allows you to rent out your car to others. This article will show you the ways to monetize the app, go over the benefits and drawbacks of using the platform, and give you some pointers on how to maximize your earnings. If you want to make a six-figure income in 2022, PowerPAC plus will show you how.
What is exactly Turo?
Turo, dubbed “Airbnb for cars,” is a car-sharing service that allows users to hire automobiles from local hosts. If you have a car that you don’t use on weekends or a fancy car that’s collecting dust in your garage, you can rent it out on Turo to make some extra money. Turo was started by Shelby Clark in 2010 and is based in San Francisco. Turo has over 350,000 vehicles listed on the site, including Jeep, Lamborghini, Porsche, Subaru, and Tesla, as well as over 850 additional vehicle makes and models.
Turo currently offers person-to-person car-sharing in the United States, Canada, and the United Kingdom. Commercial hosts, on the other hand, may be able to set up shop in other countries.
Make account to monetize on Turo
Making money on Turo begins with registering and listing your vehicle. You’re known as a Host if you help customers list their autos. The persons that request vehicles are referred to as Guests. The following is how it works:
- Create a Turo listing by describing your vehicle and uploading photos. The process of creating your listing is completely free (remember, there are no listing costs). Make sure you photograph your vehicle in high-resolution.
- You will be notified when someone is interested in hiring your vehicle. Simply react to this and tell them whether or not they are permitted to book your car.
- If you accept the trip request, you will meet your visitor. You’ll check their license, take a tour around the neighborhood, record your fuel and mileage, and then hand them the keys to the car.
- You’ll meet your guest at the end of the trip, check out your car, and be paid!
That’s all there is to it! That’s all there is to it.
How much money can you make with Turo?
The greatest monthly earnings are around $1,365, according to Turo’s official website. The amount you pay is determined by your vehicle and the sort of insurance you have, with the Porche Boxter earning the most. Turo has a “Calculator” where you can enter your car model, manufacturer, and location to obtain an estimate of how much you could make.
Other examples from the same Turo analysis cited above reveal huge disparities in revenue across different car kinds. Fiat 500 hosts make $474 per month on average. Hosts who drive Chevy Camaros make an average of $73 per day, or $755 per month. You might make more money if your automobile is booked for more days per month.
Requirements that you need to keep in mind before starting.
- Legally registered in the United States
- No more than 12 years old
- Fewer than 130,000 miles
- Clean title
- Never been declared a total loss
- Fair market value of up to $150,000 USD
- Must maintain Turo safety and maintenance requirements
Hacks to make more money on Turo?
Post a detailed listing.
Try to imagine yourself in the shoes of a possible renter when selling your vehicle on the website or app. This entails including all information that a potential renter could be interested in. You can mention things like trunk measurements and capacity, whether the vehicle has ever been smoked in, whether it has a bike rack or tow hook, whether it has heated seats or a great sound system, and much more. You might also include the vehicle’s innovations, such as satellite radio, Bluetooth connectivity, built-in GPS, and a backup camera. Basically, anything that would make you want to buy a car should be included.
Set reasonable prices.
Check out what other people in your area are charging. For instance, if a midrange automobile is available for $50 per day, why not offer your midsize sedan for $40? Customers (and people in general!) love bargains, so offering the lowest rates is a terrific approach to get your rental business off the ground.
Take great photos.
The first thing visitors will notice about your listing is the photos. If your photographs are grainy, too far away, or too dark or light, your ad will not receive as many views as if they are professional and appealing to the eye.
Professional images don’t have to be taken by a pro, but if you’re prepared to pay a fee, they can be (a feature that Turo offers to connect clients with paid professional photographers). You can do them yourself if you take extra precautions to ensure that the photographs you share are attractive. Make sure the lighting is good, that your finger isn’t in the camera, and that the photo isn’t blurry or out of focus before retaking it. Remove anything from the background (paint cans or equipment if you’re shooting shots in your garage) to draw attention to your vehicle. If your photo is otherwise excellent but for a slightly darker-than-necessary tone, utilize a free editing program to boost the brightness — just don’t go overboard. You’re not trying to hide the car’s appearance; rather, you’re trying to bring forth its natural beauty.
Promote, promote, promote.
What is the most effective method for acquiring new clients? Of course, there will be a promotion! Every successful campaign has used some form of marketing or advertising at some point, and rental efforts are no exception. You must grasp the value of good promotion in order to be successful. You may believe that you are unable to promote your business because you lack access to a video camera or space in which to display a promotional poster, but fear not! You don’t need those items to promote your rental car.
Sharing your listings on social media might be an easy way to promote them. Your ads can reach new clients outside of your friend network if you allow them to be shared. You might also use Kijiji or Craigslist to advertise your items. A few websites even allow vendors (you) to post their listings for free or for a modest, inexpensive price.
You can make a lot of money on Turo whether you own a Tesla, Ford, BMW, Pontiac, or the classic Toyota Camry. It will take some time, but the more you utilize the platform, the more Turo experience you will receive… and the more money you will be able to earn. In fact, you can use Turo to manage a whole fleet and run your own rental firm. You might even utilize it to supplement your income while you’re not driving during the day.