Carsharing service Turo gives woman hundreds of dollars in extra monthly income

Turo considered the Airbnb of cars
Posted at 1:45 PM, Aug 24, 2018

Owning a vehicle, or even renting one, can be very costly. But there's a company, referred as the Airbnb of cars, that claims to help you make and save money.

The California-based company Turo is a peer-to-peer carsharing service. 

Christie and her husband heard about the online car rental service two years ago. With having to care for three children, they decided it was time to make some extra cash, so they posted their car for rent on Turo. 

"It's really just posting pictures of your car, and they set you up with a photographer if you want professional pictures done of your car," explains Christie.

Depending on how new and nice your vehicle is, Christie says Turo allows you to price your car accordingly. Her Jeep Wrangler rents for $129 a day. 

At first, Christie says they raked in about $700 a month, which was just enough to pay the car payment. But as they got more reviews from renters, they were making enough to supplement an income. 

"I would say our profit, $300 at least," says Christie. "During the summer months, it can be up to $2,400 in profit."

Making that kind of money is great. But, Christie says there are a few sacrifices you have to be willing to make. 

"If somebody books last minute, it's kind of being able to rearrange my schedule to be able to meet them."

A majority of the time, Christie has to drive 30 minutes to the airport to drop the car off with the renter at the airport. 

Another downside: a lot of miles have been put on her car. She says in just two years, renters have put 51,000 miles on her Jeep. 

Not only does Christie rent out her car, but she has actually rented a car through Turo while on vacation in Saint Louis. She says her family was on a tight budget. They found a compact car for $100 for an entire week.

If she went through a well-known national car rental service, it would have cost her around $281 a week. She saved $181 by renting through Turo. 

When Christie meets a renter, she checks their driver's license and gives them the keys. It's that simple and easy to use.