inspiration

Rent Your Car

Turo is another service disrupting an old economy. With Turo, you can rent your car on the days that you aren’t using it, and make anywhere from $25 to $100 and over per day rented (depending on the car, of course). Turo drivers are all vetted and required to have insurance, and Turo also provides $1 million liability insurance for your car. 

If your car is an average coupe or sedan type car, not too old but not brand new, you can expect daily fees between $25 and $40. But if you have a brand new car or anything special like a fully-equipped truck or a sports car you can command higher prices. Pricing is also flexible. Turo lets you either go with their recommended rate based on your car’s make, model, and amenities, or you can set your own rate. You might want to set your own rate if you’d prefer to get more reservations. However much money you make, you put in very little effort, which is why Turo is on our Side Hustle Master List. 

Concept

Rent Your Car

category

Autos/Transportation

Takeaways

Requires car ownership / lease, flexible use of your own vehicle; can go remote by Turo remote unlocking hardware and Turo site manages for you.

complexity

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Capital Required

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skill required

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time required

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return potential

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Do Some Market Research

A non-turbo, 2012 Hyundai Sonata can bring in $30 per day while the turbo version typically brings in $36. However, Turo estimates that the non-turbo version gets rented out three more days per month. $30 is the max that many Turo drivers want to pay, so if you can bring your price to that point, you might make up for it with more days rented.

Another thing to keep in mind is where you live. Are you in a location that people can get to by public transit? You might get fewer offers if you live outside the city. Speaking of cities, Turo claims to operate in over 5000 cities across the US, Canada, UK, and Germany, but they do list the best cities in the US as Atlanta, Boston, San Diego, Chicago, San Francisco, Denver, Seattle, Honolulu, Houston, Washington DC, and Los Angeles.

Useful Resources

Renting with AirBnb

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