Is Renting Out Your Car on Turo Worth It?

Renting out one’s car for money has never been easier, but is it worth the time and effort? Like anything, there are people who make it sound too good to be true, while others make it sound like the worst experience on the planet. It is often difficult to find “the facts” regarding sites like Turo, but let’s give it a try.

Becoming a Turo Host

According to Turo, “entrepreneurs of all experience levels welcome”. They even provide the average annual income depending on how many cars you rent out:

Turo even offers a calculator and the average ROI per vehicle. These are excellent tools that are easy to use.

Cons of car sharing on Turo

The Central Williamette Credit Union lists the following cons related to car sharing:

  • Wear and Tear: When you rent out your vehicle, you expose it to additional wear and tear. This can lead to increased maintenance costs. Additionally, you may need to replace parts more frequently.
  • Insurance Risks: Although car-sharing platforms often provide insurance coverage, there may be gaps or limitations that leave you financially vulnerable in the event of an accident or damage to your vehicle. It’s crucial to thoroughly understand the insurance coverage provided and consider purchasing additional coverage if necessary.
  • Liability Concerns: Renting out your car may expose you to liability risks. For instance, if a renter is involved in an accident or engages in illegal activities with your vehicle, you could potentially face legal consequences.
  • Inconsistent Income: Car-sharing income can be unpredictable, as it depends on factors like demand, location, and competition. You may experience fluctuations in your earnings, making it difficult to rely on this income source for financial stability.
  • Time Commitment: Managing a car-sharing business requires time and effort. You’ll need to coordinate with renters, handle bookings, maintain the cleanliness of your vehicle, and deal with any issues that may arise.

Pros of hosting on Turo

  • Flexibiliy and scalability
  • Easy to use tools
  • Insurance provided by Traveler’s
  • Vehicle standards aren’t too stringent
  • Keep 60%-90% of booking fees
  • The car does the work while you spend time doing something else!

Is Turo right for you?

The best way to determine of Turo is right for you is to try it! Before doing so, check out this information from around the web to help you learn more:

The Turo community on Reddit: Turo (

What to avoid as a new Turo host: Aug 23 Andy Control Ad + Late Carmine Testimonial + Disclaimers (

Side Hustle Nation’s write up: Turo Review: How Renting Out Our Cars on Turo Turned Into a Free Tesla (

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