“I make up to $800 a month renting out my car!”
“I’m self-employed, but I was looking for a way to make some extra cash on the side. I had also recently bought a new car, but after just two weeks I had buyer’s remorse. I wanted to find a way I could make money and feel better about the car by paying it off sooner. I thought maybe there was a way I could rent out my car, so I did a quick search and found out about Turo.com, which let me do exactly that.
“To get started, I posted a photo of my car on the website, wrote a description and selected a price. People who rent their cars through the site usually meet their guests to deliver the keys, but I park my car at the airport, put a lockbox in the front seat, give the guest the combination and leave my car unlocked so they can get the keys.
“Not only does Turo run a complete background check on the people who rent your vehicle, they offer liability insurance and theft and damage protection if you don’t carry your own, so I never have to worry about damage to my car. You can rent out your car for a day or up to 30 days, and you can earn between 65 and 90 percent of the profits. My earnings do vary month to month, but I make anywhere between $360 and $800 per month.
“With my earnings from Turo, I not only paid off my car but I also paid for a second, dream car—a preowned red BMW convertible—in full. I’ve also used the money I’ve made to pay some of my bills and to fund vacations.”