How you make money with Turo

Turo is the world’s largest car-sharing marketplace. You can rent out your car for part of each month and earn enough to cut your monthly car payment by 50% or more.

Owners who share their vehicles through Turo make an average of $706 a month, the company says — and remember, that’s the average. You could do even better.

Sam, a 22-year-old full-time college student, earned enough from listing two cars on Turo that he was able to buy his personal dream car: a 2018 Camaro RS V6.

"It’s absolutely insane! I’m in the position to afford this car as a full-time college student, and not pay a single penny for any of it, insurance, maintenance, anything," he says. "That’s a really huge thing for me!"

You set your own daily rental rate, and you can use Turo’s “Carculator” to help you find the right price based on your car’s year, make, model and condition. If you’d like, you can let Turo automatically adjust your rate to maximize your earnings.

Getting started with Turo

A Turo
Courtesy of Turo
A Turo car "host" helps her "guest" driver get comfortable in her vehicle.

Turo is super easy to use: You list your car for free, check in your guests through the Turo app, and get paid via PayPal within three days of each trip.

Your car is fully insured for up to $2 million when a renter takes the wheel, so you don’t have to worry about your ride getting banged up.

Turo has people available 24/7 to help with any questions or issues, and your car’s “guests” can turn to Turo’s roadside assistance if they have any problems.

Sam, the student, has become a Turo teacher of sorts: He likes to educate people on how it's possible to have a car that completely pays for itself. Like his Camaro, which he has named "Cameron."

Think of it this way: Every hour your car just sits out there is a lost opportunity to turn it into a profit machine that can cut your ownership costs.

Sign up with Turo and start revving up the savings today.

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These articles were created by the MoneyWise editorial team.