I rent out my car on Turo and now it pays for itself. Here's how I got started and stay booked.
This is an as-told-to essay based on a conversation with Nate Matos, a Turo host based in Miami. It has been edited for length and clarity., a financial education podcast, about two years ago.
I didn't want to give him my keys, but I did. He brought the car back in one piece fully functioning, so I decided to keep doing it. After some successful bookings, I decided to buy a Mercedes just for Turo Right now, my car makes approximately $800 a month, but it's made up to $1,200. My car payment with insurance is $680, so there's a good amount of profit.You can provide different extras with your car — like prepaid fuel, beach towels, chargers, or unlimited miles — that can help you increase your rate. However, I don't recommend offering unlimited miles unless you have an economy car. I once had someone take my car all the way up to Washington, DC.
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