business plan for turo

How to Start a Turo Business

Start a Turo Business

Are you looking for a best business opportunity in the car rental industry? Have you heard about Turo and wondered how to capitalize on its growing popularity? Look no further! In this comprehensive guide, we’ll walk you through the steps to start your own Turo business and embark on a journey to success.

How to Start a Turo Business with No Money

Are you intrigued by the idea of starting a Turo business but worried about the upfront costs? Don’t fret! With the right approach and a bit of creativity, it’s entirely possible to launch your Turo venture without needing any money upfront. In this comprehensive guide, we’ll walk you through six practical steps to get your Turo business off the ground, even on a shoestring budget.

1. Use Your Own Car

The beauty of Turo is that it allows you to rent out your own vehicle to earn extra income. If you already own a car that meets Turo’s requirements, such as being in good condition, meeting the age criteria, and having a clean title, you’re already halfway there! By listing your own car on the platform, you can start generating rental income without needing to invest in purchasing or leasing a new vehicle.

However, before listing your car on Turo, it’s essential to ensure that it meets all the necessary criteria and is in excellent working condition. Conduct a thorough inspection to address any maintenance issues and ensure that your vehicle is safe and reliable for renters. Additionally, take high-quality photos and write a detailed description highlighting the features and amenities of your car to attract potential renters.

By utilizing your own vehicle, you not only eliminate the need for upfront investment but also gain firsthand experience as a Turo host, which can be invaluable as you expand your business in the future.

2. Ask Friends & Family

Do you have friends or family members who own vehicles they’re not using regularly? If so, consider reaching out to them and proposing a mutually beneficial arrangement. Offer to manage the rental process for them on Turo in exchange for a percentage of the rental income.   Many people may be open to the idea of earning passive income by renting out their idle vehicles but may not have the time or expertise to navigate the Turo platform themselves.

By offering your assistance, you can help them monetize their assets while also building your Turo business without needing to invest any money upfront. Before approaching friends or family members, it’s essential to have a clear understanding of the Turo platform and how the rental process works. Be prepared to explain the benefits of listing their vehicles on Turo, such as earning extra income with minimal effort and leveraging Turo’s insurance coverage for peace of mind.

3. Partner with Dealerships

Another innovative approach to starting a Turo business without money is to partner with local car dealerships. Dealerships often have idle inventory sitting on their lots, which they may be willing to list on Turo for additional exposure and revenue. Reach out to dealerships in your area and propose a partnership where you handle the rental process for their idle inventory on Turo. In return, you can offer to share a percentage of the rental income with the dealership.

This arrangement benefits both parties: the dealership gains an additional revenue stream from their unused inventory, while you gain access to a diverse fleet of vehicles to list on Turo without needing to invest any money upfront.When approaching dealerships, emphasize the benefits of listing their inventory on Turo, such as reaching a broader audience of potential renters, maximizing revenue from idle vehicles, and enhancing their brand visibility in the local community. Be prepared to negotiate terms that are mutually beneficial and ensure that all parties are clear on their roles and responsibilities.

4. Trade Skills for Cars

If you have valuable skills or services to offer, you may be able to trade them for access to vehicles to list on Turo. For example, if you’re skilled in marketing, website design, or vehicle maintenance, you can offer your services to vehicle owners in exchange for the opportunity to list their cars on Turo.

Reach out to vehicle owners in your network or local community and propose a trade where you provide your services in exchange for access to their vehicles for your Turo business. Highlight the benefits of partnering with you, such as receiving professional services at no cost and earning passive income from their idle vehicles.

When negotiating trade agreements, be clear about the scope of your services, the expected duration of the trade arrangement, and any specific terms or conditions. Ensure that both parties are satisfied with the proposed trade and that the arrangement is fair and equitable for everyone involved.

5. Start Small

When starting a Turo business with no money, it’s essential to start small and focus on quality over quantity. Begin by listing a few vehicles on the platform and gradually expand your fleet as you generate rental income and reinvest your earnings. Starting small allows you to minimize your financial risk and test the waters before committing to larger investments. It also gives you the opportunity to learn and refine your strategies as you gain experience as a Turo host.

When selecting vehicles to list on Turo, focus on models that are in high demand and offer competitive rental rates. Consider factors such as fuel efficiency, reliability, and popularity among renters to maximize your earning potential.

As you grow your Turo business, monitor your rental performance, gather feedback from renters, and adjust your strategies accordingly. By starting small and being strategic in your approach, you can build a successful Turo business without needing any money upfront.

6. Keep Costs Low

Even when starting a Turo business with no money, it’s essential to be mindful of your expenses and look for ways to keep costs low. While Turo provides a platform for listing your vehicles and connecting with renters, there are still other expenses to consider, such as maintenance, cleaning, and marketing.

To keep costs low, leverage free or low-cost resources for marketing, such as social media, word-of-mouth referrals, and online community forums. Focus on building relationships with renters and providing excellent customer service to generate positive reviews and repeat business.

Additionally, negotiate discounts with service providers and suppliers, such as car washes, detailing services, and maintenance shops. Consider forming partnerships with local businesses to offer exclusive discounts or promotions to renters, providing added value and incentive for booking with your Turo business.

By keeping costs low and maximizing your resources, you can effectively manage your expenses and maximize your profitability as you grow your Turo business.

Whether you’re looking to earn extra income on the side or pursue Turo hosting as a full-time business opportunity, the key is to start small, be resourceful, and remain committed to providing exceptional service to your renters. With dedication, perseverance, and a willingness to innovate, you can turn your dream of starting a Turo business into a reality, even without any money to invest upfront.

What is Turo?

Turo is a peer-to-peer car-sharing platform that allows individuals to rent out their vehicles to others on a short-term basis. It offers an alternative to traditional car rental services by providing a wide selection of vehicles at competitive prices.

Why Start a Turo Business?

Starting a Turo business offers several benefits, including:

• Low startup costs: You can start with just one vehicle and gradually expand your fleet.
• Flexibility: Set your own schedule and choose which vehicles to list on the platform.
• Additional income: Earn money by renting out your idle vehicles when they’re not in use.
• Access to a large market : Turo has a vast user base, providing ample opportunities to attract customers.

Steps to Start Your Turo Business

1. research and planning.

Before diving into the Turo business, conduct thorough market research to understand the demand for rental vehicles in your area. Identify your target market, assess competitors, and determine the types of vehicles that are in high demand. Develop a business plan outlining your goals, strategies, and financial projections.

2. Procure Vehicles

Decide which vehicles you’ll offer for rent on the Turo platform. Consider factors such as market demand, rental rates, and operating costs when selecting your fleet. You can purchase vehicles outright, lease them, or partner with car dealerships to obtain inventory.

3. Register on Turo

Sign up as a host on the Turo website or mobile app to list your vehicles for rent. Complete the registration process, verify your identity, and provide details about your vehicles, including make, model, year, and photos. Set your rental rates, availability, and any additional terms or conditions.

4. Create Compelling Listings

Write detailed and engaging descriptions for each vehicle listing, highlighting its features, amenities, and unique selling points. Use high-quality photos to showcase the interior and exterior of the vehicles, helping potential renters visualize their rental experience.

5. Manage Bookings and Customer Service

Monitor your Turo account regularly to manage bookings, respond to inquiries, and coordinate vehicle pickups and drop-offs. Provide excellent customer service by promptly addressing questions and concerns, ensuring a smooth and hassle-free rental experience for your customers.

6. Maintain Your Vehicles

Keep your rental vehicles well-maintained and in good condition to ensure customer satisfaction and minimize downtime. Schedule regular inspections, servicing, and cleaning to keep your fleet in top shape. Address any maintenance issues promptly to avoid negative reviews and maintain a positive reputation on Turo.

7. Market Your Turo Business

Promote your Turo business through various channels to attract renters and drive bookings. Utilize social media, online advertising, and word-of-mouth referrals to reach potential customers. Offer promotions, discounts, and special deals to incentivize bookings and encourage repeat business.

8. Monitor Performance and Adapt

Track your Turo business’s performance, including rental revenue, customer feedback, and occupancy rates. Analyze trends and insights to identify areas for improvement and adjust your strategies accordingly. Stay informed about updates and changes to the Turo platform to optimize your listings and maximize your earning potential.

Starting a Turo business presents an exciting opportunity to enter the car rental market and generate additional income. By following the steps outlined in this guide and staying committed to providing excellent service, you can build a successful and profitable Turo business. With determination, dedication, and a passion for customer satisfaction, you can turn your venture into a thriving rental enterprise. So why wait? Get started on your Turo business journey today and unlock the potential for success in the car rental industry.

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Getting started on Turo

How to create a strong listing and get on the fast track to success, getting oriented.

In this guide, you’ll learn how to create a competitive listing, adjust your settings to fit your schedule and goals, and start earning on the world’s largest car sharing marketplace.

So you've listed your car on Turo. Now what?

Getting started

Download the app

The Turo app is easy to use and lets you manage your business and your bookings on the go — manage trips, adjust your pricing, message your guests, and more, all from your phone.

Setting yourself up for success

Improving your search ranking, understanding vehicle protection.

Protection plan overview

Gearing up for your first trip

Creating a strong listing, adjusting your settings.

Strong listings show up higher in search rankings and attract more guests.

First, get to know  your host dashboard ,  where you can:

Splurge on top-tier protection with the full suite of extra benefits

Start earning!

Now that you’ve read up on all things hosting, it’s time to create a strong listing, adjust your settings, and offer a five-star guest experience.

Commit to offering an excellent guest experience

The way to success on Turo is to offer guests well-maintained, clean cars, with outstanding customer service. By hosting on Turo, you’re getting into the hospitality business! 

Help create five-star guest experiences by making sure your car is in great working order, clean, and ready for your guests on time. Be a good communicator, and be kind, supportive, and flexible when you can. 

Follow these tips to work toward becoming an All-Star Host , the highest-rated and most experienced hosts on Turo. All-Star Hosts get rewarded for their hard work and excellent customer service with more visibility in search results, travel credit, the opportunity for extra bookings, and exclusive event invites.

Learn more about the All-Star Host program

Update and optimize your availability

• Adjust your vehicle settings (under  the "Vehicles" tab )
• View your performance metrics (under  the "Performance" tab )
• Check your ratings and reviews (under  the "Reviews" tab )
• Track your earnings (under  the "Earnings" tab )
• Update your account-level settings (versus your vehicle-specific settings, under  the "Settings" tab )

Each trip in the US comes standard with $750,000 in liability insurance under a third-party liability insurance policy issued to Turo from Travelers Excess and Surplus Lines Company, 1 and hosts can choose from five protection plans , each of which offers reimbursement for car repairs up to your car’s actual cash value 3 case of damage during a trip.

Pro tip: Turn notifications on!

Make sure push notifications on your phone are turned on (go to “Settings” > “Turo” > “Notifications” on iOS) and text message updates on your “Account” page so you never miss a trip confirmation!

Get to know your options

Choose the plan that's right for you, why share your car, earning opportunities.

Hosting on Turo is a unique opportunity to start your own business and take control of your financial future. After getting set up on Turo, many hosts earn enough to offset the costs of owning their cars, including monthly payments, fuel, and maintenance.

Peace of mind

All Turo guests are prescreened, and Turo hosts can choose the protection plan that’s right for them. Every trip is covered with $750,000 1 in third-party liability insurance under a policy issued to Turo from Travelers Excess and Surplus Lines Company. Protection plans vary but offer reimbursement in the event a guest damages your vehicle. 

Jump to learn more about protection plans

Tips to make your profile pop

Upload at least 10 clear, well-lit photos.

Include sharp photos of the outside and inside of your car in good light. Choose an attractive background to help stand out.

Review the photo guide  for useful tips to help you take high-quality listing photos and get a quote from a professional photographer in your area who can help your listing really shine.

Describe your car

List basic details and features, like how many seats your car has and what kind of fuel it takes, as well as special features that make your car unique, like a sunroof or all-wheel drive. Guests can filter by features so including any features will help guests discover your listing. Write a clear description. Share what’s special about your car and what makes you a great host. Keep in mind that hosts aren’t allowed to make up their own rules or policies for their guests since this is against our terms of service.

Help boost your bookings and avoid canceling on guests by adjusting your settings

It’s super important to make sure your calendar is always up to date. Block off any days when your car isn’t available or you’re not available to host so you only get trips that work with your schedule. Keeping your calendar up to date will help you avoid canceling any trips and keep your performance metrics high so you can  become an All-Star Host .

Tips to maximize your earning potential

• Make your car available on weekends — Many trips begin on Friday or Saturday and because demand is higher, hosts can usually charge more during the weekend.
• Plan ahead for peak seasons — Every region has times of the year when demand goes up (peak season) and times when demand is low. Identify when the most people travel to your area and adjust your prices accordingly. 
• Keep an eye out for long weekends — Guests often plan last-minute getaways over three- and four-day weekends.

Price competitively

The easiest way to help score more bookings is to price your car competitively.

Use Automatic Pricing to let Turo pricing tools do the work for you. The algorithm automatically optimizes your vehicle’s daily price according to your local market, demand patterns, and seasonality. 

Alternatively, set your own daily rates manually . Monitor your local demand patterns and adjust your prices accordingly. Check out how similar cars in your area are priced and aim to price as competitively or better.

If you’re not getting as many bookings as you’d like, try lowering your price to match similar vehicles in your local market.

Get trips that work for you

Customizing your trip preferences and other key settings will help you only get trip requests that work for your schedule and your car sharing goals. Get to know and optimize your trip preferences with the tips below.

Adjust your advance notice settings

Decide how much lead time you need before each trip. You can set a different amount of advance notice for trips from your home location, delivery locations, and (customized) guest locations. Many guests book trips less than two days before the start time — so reducing your advance notice setting will help you get more bookings.

Adjust your trip duration settings

Set the shortest and longest length trips you’ll accept. Many trips are two days or shorter, so accommodating shorter trips will help you get more bookings.

Review how much distance is included

Most vehicles have 200 miles as a minimum daily distance and you can decide if your guests are allowed to drive farther each day. If you offer unlimited distance, you’ll get a special badge on your listing to help attract more bookings. Guests feel more at ease with unlimited distance and often don’t drive farther than they need.

Set your pickup & return hours

Your pickup and return hours (found in your " Host settings " tab ), show when you’re available to meet guests for check-in or checkout. If you can, consider offering  remote check-in and checkout  so you can accommodate broader pickup and return hours. If you’d rather meet your guest in person, keep in mind that most guests prefer to pick up cars before 10 am, so try to leave the mornings open.

Kick it into high gear with delivery and Extras

Many successful hosts offer delivery and Extras.

Offer outstanding convenience with delivery

Guests love the convenience of delivery, especially being able to easily pick up a car from airports, hotels, and train stations. Offering to deliver your car to your guests helps you get more bookings and keeps you competitive. You can charge for delivery and can offer free delivery if the trip is above a certain number of days.

Go the extra mile with Extras

Extras are optional add-ons that your guests can purchase on top of their trip. You can help make your guest’s trip more memorable or convenient by offering camping equipment, a picnic basket, a child safety seat, or prepaid refueling. Extras help set you apart from rental car companies and help you earn more. Many Extras end up paying for themselves after just a few trips!

If your car doesn’t get booked right away, don’t worry! Keep adjusting your settings to help boost your ranking and attract more guests to your listing.

Some quick tips to show up higher in search rankings:

• Include at least 10 high-quality listing photos
• Opt into Automatic Pricing or manually set your prices as close to Turo’s  pricing recommendations as possible
• Offer free or low-cost airport delivery
• Offer unlimited miles
• Earn 60% of the trip price 
• Turo pays 100% of eligible damage costs 2
• No deductible 2
• Includes exterior wear and tear reimbursement for eligible vehicles 3  
• Includes loss of hosting income during repair OR $50/day replacement vehicle reimbursement (10-day max) 4

Spring for solid protection with a minimal deductible

• Earn 75% of the trip price
• Turo pays 100% of eligible damage costs above the deductible 2
• $250 deductible 2
• $30/day replacement vehicle reimbursement during repair (10-day max) 4
• Doesn’t include exterior wear and tear reimbursement
• Doesn’t include loss of hosting income during repair

Pocket more with a more moderate deductible

• Earn 80% of the trip price
• $750 deductible 2
• No replacement vehicle reimbursement during repair

Earn big by taking on a larger deductible

• Earn 85% of the trip price
• Turo pays 100% of eligible damage costs above the deductible 2 
• $1,625 deductible 2 

Cash in on the highest-risk, highest-earning plan

• Earn 90% of the trip price
• $2,500 deductible 2

If you change your mind, you can choose a new plan at any time — but keep in mind that any change you make will only apply to future trips, not currently booked trips.

What happens if my vehicle is in an accident during a Turo trip?

In the rare case that your vehicle is involved in an accident, your guest should report it immediately. If you notice damage at the end of a trip and your guest hasn’t yet reported it, it’s important to report it immediately within the trip page.  

To help ensure eligibility for reimbursement under a protection plan, hosts must:

• Take  clear photos  to document the vehicle condition at the start and end of each trip. Use the in-app check-in and checkout features to take and upload the photos. 5
• Report damage within 24 hours  of the end of the trip. A Turo associate will then reach out and guide you through the process.

If you have any questions or concerns, talk to your insurance professional.

Your pre-trip checklist

• Message your guest  to confirm the pickup time and location.
• Make sure your car is in excellent working order  with no mechanical issues or dashboard warning lights on.
• Clean your car inside and out to help get their trip off to a good start. 
• Refuel or charge your car so it’s got a full tank or a full charge when your guest picks it up.
• Take and upload clear, pre-trip photos   documenting the vehicle’s condition, inside and out. This step is crucial to be eligible for your protection plan! Turo needs pre- and post-trip evidence when processing claims.
• Review your guest’s driver’s license  as part of the check-in process in the Turo app shortly before the start of the trip.
• Be available  to answer any questions during the trip or respond to extension requests. 
• Take and upload clear, post-trip photos  within 24 hours of the end of the trip, and report any damage. You have up to 72 hours after a trip ends to report a smoking issue, or cleaning violation.
• Get paid — after your guest returns your car, you’ll get paid by direct deposit within three days.

When a guest books your car, you’ll get a notification in the app and via email. Then follow this checklist to help make sure you’ve taken care of everything:

 1 – All trips are covered under a third-party automobile liability insurance policy issued to Turo from Travelers Excess and Surplus Lines Company. Liability coverage is $750,000 for all host protection plans, except in some states and at some airports that require additional coverage. In New York, the liability coverage is $1,250,000. For questions or information about the third-party liability insurance that is included in protection plans, consumers in Maryland and the licensed states listed here may contact Turo Insurance Agency at (415) 508-0283 / [email protected]. For questions about how damage to a host’s vehicle is handled, visit https://help.turo.com . 2 – Turo is not an insurance company, and contractual reimbursement for physical damage to your vehicle is not insurance. Turo will reimburse hosts for eligible physical damage costs in excess of the deductible, subject to terms and exclusions, for the lesser of the cost of repair up to the actual cash value of the vehicle or $125,000. For the Tesla Model X, Tesla Model S, and Tesla Model 3 only, Turo will be responsible for the cost of eligible repairs, after the deductible, subject to terms and exclusions, for the lesser of the cost of the repair up to the actual cash value of the vehicle, even if it is more than $125,000.

3 – The wear and tear benefit only applies to vehicles that are two years old or newer and with under 24,000 miles, or vehicles in the Super Deluxe class regardless of age or mileage. Super Deluxe vehicles have a fair market value of more than $85,000. Turo uses a third-party vehicle valuation vendor to determine the fair market value of vehicles listed on our platform. 4 – If a host elects to receive loss of hosting income on the 60 plan, they won’t be eligible for any replacement vehicle reimbursement, and vice versa — if a host elects to receive replacement vehicle reimbursement, they won’t be eligible to receive loss of hosting income. 5 – Exceptions may apply for trips that use Turo Go remote unlocking technology. Check out the Help Center article about preparing for a Turo Go trip for more information.

Trips are confirmed automatically  Guests can start booking your vehicle as soon as your listing is published. Trips are automatically approved so it’s extremely important to adjust your settings based on your schedule and availability to make sure you can fulfill every booking. 

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How Does Turo Work: Turo Business Model and Revenue Model Revealed

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Home » Blog » Business Punch

Car rental businesses are the new trend and the one leading this trend is the Turo business model. The peer-to-peer rental businesses are expected to grow by approximately 700% in the coming eight years. There are a number of factors behind the driven growth, including fewer carbon emissions, which leads to a greener environment, and a growing global preference for a minimalist lifestyle. 

Both incumbents and new entrants in the peer-to-peer automobile rental business , of which Turo is a significant player, are focused on inducing sustainable and minimalist growth.

Turo has been compared to Airbnb, is as straightforward as they come. You only need to provide a place and a date. Furthermore, users can narrow down their search by picking a specific brand of a car, type ( convertibles/vans), and model.

You can also get your app like Airbnb, click here !

Turo Stats and Facts: Funding & Major Milestones

Turo, which began as RelayRides in 2010 and now has a fleet of over 350,000 cars, is a peer-to-peer car rental platform. It has achieved a lot of milestones. Let’s have a look at some of the facts about Turo:

• Founders: Shelby Clark
• Launched in: August 2009
• Headquarters: San Francisco, California
• The Number of App Users: 10 million
• Industry: Car Sharing
• Company Valuation: more than $1 billion
• Total Funding Amount: $502.6 million

The Turo business model has inspired a lot of business owners and entrepreneurs. Many of them plan to follow this business model to launch their own peer-to-peer car-sharing business in the market. Here is the success timeline of Turo:

Turo Success Story

Jonathan Tilmann and Shelby Clark established Turo, a peer-to-peer car-sharing platform, in 2009.

When Tilmann and Clark were looking for a means to share a car for a weekend vacation, they came up with the idea for the company. They noticed that no service existed that allowed users to accomplish this, so they invented one.

Turo is a unique car-sharing service that allows users to hire out their automobiles to others. This allows people to supplement their income by renting out their vehicles when they are not in use. It also allows folks to have a different car to drive while on vacation or business. Turo was once known as RelayRides, and it allowed customers to hire out their automobiles to others. The company changed its name to Turo in 2012 and began renting automobiles from businesses rather than individuals.

Since then, the company has only seen growth!

How Does Turo Work: Turo Business Model Canvas

In this 21st century, after the new technological advancements, the online P2P car-sharing industry also grew. But, a single business model cannot satisfy the needs of a huge range of targeted audiences. This is the reason, Turo had to adjust and broaden its business model. This business made sure that the company not only offered a car-sharing service but also helped in payment management. This made Turo’s business model successful and compatible with today’s digital world.

How Turo Works:

• Users register into the platform using their email address or contact number. 
• They list their vehicle on the application and also provide necessary information including the brand of the vehicle, its type, color, etc.
• Customers check out these vehicles and rent the one that suits their requirements. 
• Turo allows its users to rent a vehicle for some amount of time. 

Isn’t this an excellent way for people to earn money by just renting out their vehicle? There are so many people in the market who find this idea fascinating. This proves that there is a huge scope for your own car-sharing business in the industry. Get in touch with our expert developers to launch your business online at the most affordable price. 

The Turo business model looks like this:

Turo Revenue Model: How Does Turo Earn Money?

The Turo business model consists of very effective and well-planned monetization strategies.

Peer-to-peer car rental businesses charge a commission fee on every car rental booking. This is one of the most popular sources of income. Turo has a commission fee plan to charge approximately 25% on bookings. 

The business also charges its customers if the given limit of kilometers is exceeded. An additional kilometer fee is charged. Host fees , such as damage claim filing charges (applicable only if pre and post-trip vehicle condition photographs are not uploaded), order cancellation charges, vehicle misrepresentation charges,  maintenance policy violation penalties, and more, add to the monetization strategies in the Turo business model.

Turo also charges its customers a variety of guest fees . EV charging fees, petrol replacement prices, additional usage fees, claims processing fees, guest no-show charges, late return fees, and smoking and pet policy violation fines are just a few of the fees.

7 Lessons You Should Learn From Turo’s Success

Here are 5 lessons that you can learn from the success of the Turo business model:

1. Find Your Unique Value Proposition

It’s critical to start by defining your value proposition when presenting your company. Turo does a fantastic job of emphasizing how unique its service is and how it can save car owners money.

2. Concentrate on the Issue at Hand.

One of the most common mistakes made by companies is focusing too much on their product rather than solving the problem. Turo described the problem they’re trying to solve (high automobile ownership and maintenance costs) and how their service can help.

3. Know Why Your Solution is Superior to the Alternatives

You must know why your solution is superior to the alternatives to persuade investors to invest in your firm. Turo showed how their service is less expensive, more convenient, and more environmentally friendly than traditional automobile rental.

4. Demonstrate That Your Product has a Market

It is critical to demonstrate that your product has a market. Turo accomplishes this by emphasizing the vast potential market for its service and demonstrating how it may be used.

5. Demonstrate Your Team’s Experience and Expertise

It’s a no-brainer to emphasize your team’s experience and skills while launching your business in the market. Turo features a well-designed team slide that emphasizes their team members’ backgrounds and experience in the automobile rental sector.

6. Have a Clear Picture of the Future

You must demonstrate that you have a clear plan for the future to persuade investors to invest in your firm. Turo accomplishes this by laying out its five-year strategy and showing how they intend to expand its company.

7. Anticipate and Respond to Potential Complaints

Investors are generally wary of new businesses, so being prepared to respond to any potential objections is critical. Turo accomplishes this by anticipating and resolving common concerns, such as a lack of experience and a high cost of ownership.

Turo has a huge client base because of its unique selling and value proposition. The success story of the Turo business model made a lot of business owners follow its footsteps of Clark. The question that comes up now is, how will this success story help in scaling your business?

Wrapping Up

For a P2P car rental business , choosing a car rental software, business model, and revenue model are just a few points on the road map. Following that, businesses can concentrate on licensing, branding, pre-launch marketing, setting up newsletters, selecting distribution channels, and planning announcements while the online P2P automobile rental platform is being developed.

Get your car rental platform today!

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Lively and spirited. You may call me a tech-geek. I like to explore latest advancements in the technical areas and develop case studies. Being a computer science graduate, I like to traverse through the technical platforms as well. You can find me understanding or playing with the latest technology.

Tags: Apps Like Turo , car rental apps like turo , turo business mode , turo business model canvas , turo car rental business model

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The Turo Business Model – How Does Turo Make Money?

Executive Summary:

Turo is a peer-to-peer car-sharing network that enables its users to borrow a vehicle from others or rent out their own.

Turo makes money by charging various fees to both customers and hosts. The business model of Turo can be characterized as an online marketplace.

The company, which was founded in 2008, has become one of the leading car-rental platforms in North America. Turo has raised over $502 million in funding thus far.

What Is Turo?

Turo is a peer-to-peer (P2P) online marketplace that allows its users to borrow a vehicle from others or rent out their own to those very same users.

The platform, which is often compared to Airbnb, is as simple as it gets. You simply enter a location and date. Users can, furthermore, specify their search by selecting a specific car brand, model, and type (such as convertibles or vans).

Once the parameters are entered, you will be presented with a list of cars that you can choose from. The whole booking process can then be completed within the platform.

The car can then either be picked up from a set location or, if the owner agrees to it, be delivered to an agreed-upon pick-up point.

Both the owner of the car as well as the customer are protected by the various insurances that Turo offers. Its liability insurance, for example, covers damages of up to $750,000. Turo even offers 24/7 support and roadside assistance in case anything goes sour.

Turo is currently available in more than 7,500 cities across the United States, Canada, as well as the United Kingdom.

Its platform can be accessed by visiting Turo’s website or downloading any of its mobile apps (available for Android and iOS devices).

Turo Company History

Turo, initially launched as RelayRides and headquartered in San Francisco, California, was founded in December 2008 by Shelby Clark.

Founder Clark certainly had the markup of a prototypical Silicon Valley founder. He graduated from Northwestern University with a degree in Biomedical Engineering in 2004.

He spent the first three years of his career in consulting. In 2007, he decided to move to the Valley after being hired by the micro-lending non-profit Kiva.org.

His car, fresh off the heels of arriving in San Francisco, broke down. Instead of buying a new one, he opted against ownership and instead began to rely on biking and renting.

At the time, Zipcar was taking the nation by storm by allowing anyone to rent a car on an hourly basis. Clark quickly became one of the platform’s most loyal customers.

Fast forward to late 2008, Clark had moved to Boston where he pursued his MBA at Harvard Business School.

As he was riding his bike through the snow-riddled Boston, he checked Zipcar only to see that the next available car was over 2.5 miles away.

“ I was passing all these cars parked along the road, and I wanted to just get off my bike and get one. They looked like they hadn’t been used in weeks, ” Clark recalled in an interview with CNET. “ It was like, ‘Why can’t I?’ That was sort of the light-bulb moment. ”

And since Harvard Business School is known for encouraging its students to start businesses while being enrolled in the program, Clark didn’t have to think too much. Over the next few months, he worked on refining the concept of what would eventually become RelayRides.

To get the business off the ground, he raised $600,000 from various angel investors in November 2009. Clark, furthermore, participated in multiple pitching competitions such as the TechCrunch50 event.

Initially, he contemplated to test-launch the platform in Baltimore but quickly pivoted towards Boston where RelayRides had been initially headquartered. In June 2010, RelayRides officially launched in Boston.

Initially, the biggest problem in getting the business off the ground was finding an insurance company that was willing to insure the cars on the platform. Eventually, Clark found one that would offer $1 million per incident in theft, collision, and liability insurance.

Instead of owning the vehicles like ZipCar, it allowed other people to rent out their cars. RelayRides, however, helped owners to install an unlocking system so that renters wouldn’t have to meet the owner beforehand (more on that later).

By the end of the year, it had grown to a community of 50 cars and over 1,000 borrowers in Boston. In December, RelayRides raised $4.5 million in Series A funding from the likes of Google Ventures. The additional capital enabled the company to move its headquarters to San Francisco where it launched its second market.

RelayRides continued to grow within its two markets. Interest in the platform was boosted by Zipcar’s IPO in April 2011. The heightened attention also led to the creation of competing platforms such as Getaround .

Clark, in order to remain competitive, decided to raise additional rounds of capital. In August 2011, it extended its Series A to $10 million. Two months later, it added another $3 million to the round.

While Clark stayed busy raising capital, he would soon hand the reigns to another person. In September, he decided to step down from his role as CEO to become RelayRide’s Chief Community Officer.

Simultaneously, Clark was replaced by Andre Haddad, a marketplace expert to say the least. He co-founded the European auction site iBazar and sold it to eBay for $150 million in 2001. At eBay, he held various executive roles and eventually rose to become the CEO of the eBay subsidiary Shopping.com.

2011 continued to be a great year for the young company. In October, it announced a partnership with General Motors (GM). The agreement enabled GM owners to rent out their idle vehicles via the OnStar service and on the RelayRide platform. GM also became an investor in the company, contributing to the $3 million top-up.

The partnership, which went into fruition in July 2012, also enabled RelayRide to go national. In March, the company announced that it would roll out its service across the United States.

The expensive expansion meant that RelayRide had to adjust its business model as well. It decided to no longer install its own in-car connected systems for the vehicles on its platform. Furthermore, RelayRides removed gas cards, which meant that customers had now to pay for all incurred gas costs.

2013 somewhat began on a more negative note. First, Avis Budget Group announced that it acquired competitor Zipcar for $500 million, which increased competition in the space. Then, in March, founder Clark stepped down from his day-to-day role in the company.

As a result, RelayRides decided to go on the offense to fend off the competition. In May, it acquired Wheelz, one of its bigger competitors. RelayRides would soon have to suffer the same fate that its marketplace predecessors, such as Airbnb and Uber, had to go through as well.

The platform received a cease-and-desist notice from New York State’s Department of Financial Services (DFS). The DFS had concerns that RelayRide’s insurer Hudson Insurance Company wouldn’t sufficiently cover potential damages. RelayRide agreed to immediately suspend rentals in the state as a result of its ongoing litigation.

Luckily, it wasn’t all doom and gloom. Two months later, in July, RelayRide scored a partnership with the San Francisco International Airport to offer its hosts free parking. A month later, it reached the inaugural milestone of one million rental hours since launching.

Over the coming months, RelayRide continued to expand its airport-based business. It eventually decided to scrap hourly rentals and moved its business model towards longer-term renting periods.

Its legal struggles continued to usher on as well, though. In March 2014, RelayRide was fined $200,000 after the DFS found that the platform “put New Yorkers at risk through false advertising, unlicensed insurance activity, and other violations . ”

Luckily, a $25 million Series B fundraise in June 2014 provided the necessary cushion to pay the fine. At the time of funding, the service had expanded to 300 airports across the United States. Airport bookings were making up 50 percent of RelayRide’s revenue at that point.

Two months later, it topped up the Series B round by another $10 million. By the end of 2015, RelayRides had grown to over 2,500 cities in the United States and employed a total of 110 people.

To cap off the very successful year, it raised another $47 million in Series C funding in November 2015. However, the much bigger news was the fact that the company had just announced a rebrand from RelayRide to Turo.

The competition didn’t rest either, though. GM, Ford, and Mercedes all entered the North American market in 2015 and 2016. Turo countered up expanding into Canada in April 2016 where it became available in Alberta, Quebec, and Ontario.

Improvements to the product, such as the introduction of computer vision technology, allowed the platform to significantly beef up its inventory as well as improve the platform’s user experience. Turo expanded into the U.K. and thus capped off a very successful 2016 for the company.

By the end of 2016, Turo was available in 4,500 cities across the United States, counted two million users, and 111,000 car listings. And 2017 continued just like 2016 ended.

In September, Turo raised $92 million in Series D funding and simultaneously announced the acquisition of Daimler’s Croove car-rental platform. The German automaker also invested money into Turo during the Series D round.

The acquisition enabled Turo to expand into Germany in January 2018. Unfortunately, the company would soon begin to experience what it is like to be a platform of influence. The same month Turo expanded into Germany, it was sued by the city of San Francisco. Turo had allegedly stopped paying the fees required to operate legally at the SFO airport.

The American Car Rental Association (ACRA), which represents companies such as Enterprise Rent-A-Car, Avis, Hertz, SIXT, and others, came out and pushed the various city-governing officials to follow San Francisco’s example.

Turo retaliated by launching a commercial section that would allow small rental-car companies to list on the platform – and thus increase their competitiveness. Simultaneously, Turo raised an additional $12 million.

It fought back on the legal battlefield, too. In July 2018, it filed a lawsuit against the city of Los Angeles Airport. Stating that it has been misclassified as a car-rental company (and not the car-sharing platform it claimed to be).

It capped the year off by expanding its availability in the United Kingdom and introducing new products such as Turo Go, which enables owners to allow customers to unlock vehicles without their presence.

In July 2019, Turo finally became a unicorn after IAC valued the business at $1 billion in a Series E round that netted it $250 million in additional cash. Over 400,000 vehicles and 10 million users were part of the platform at that point.

Once again, Turo extended its funding round. This time, the company raised another $30 million in February 2020. The moment proved to be crucial as the coronavirus pandemic put its business to a literal standstill just weeks later.

As a result of the pandemic, Turo was forced to lay off 110 people, equal to about a third of its workforce. The company, furthermore, closed its operations in Germany. Luckily, things would soon take a turn for the better.

Turo received close to $6 million in pandemic-related reliefs. This enabled the company to hire back some of the people it let go. In December 2020, Turo was even let back into New York. The state allowed the platform to list vehicles from its commercial host program.

The platform, furthermore, celebrated its first profitable quarter in 2020. A recovering travel sector, bankruptcy in the car-rental industry (such as Hertz), and supply chain shortages across the vehicle industry allowed Turo to triple its revenue numbers throughout 2021.

In some places, like Hawaii, Turo even caused a rental car shortage, forcing visitors to rent U-Hauls or pay astronomical prices for the few options available. This led the Hawaiian government to crack down on Turo.

However, this didn’t seem to affect the company’s growth one bit. In August 2021, Turo confidentially filed to go public. Its S-1 filling was consequently released in January 2022.

The platform also managed to strike deals with various airports such as Minnesota in December 2021. Others, such as Dallas/Fort Worth International Airport, added to Turo’s pile of growing lawsuits.

Defending those lawsuits was partially financed by the $35.2 million in funding that Turo raised in April 2022.

Today, Turo is available in 7,500 cities across the U.S., the U.K., and Canada. More than 1,300 models are available for rent on the platform.

Explaining The Business Model Of Turo

In the case of Turo, its marketplace connects car owners (hosts) and those seeking to rent a vehicle for an arbitrary time period (customers or members).

The key to operating a successful marketplace is to ensure sufficient liquidity, which is the ability to meet demand with the right amount of supply.

Turo, therefore, needs to ensure that there are a sufficient number of options in each city it chooses to operate in. The added variety will often lead to increased customer satisfaction as a result of greater choice and immediate availability – all at reasonable prices.

To that extent, Turo has to ensure that it is (and remains) an attractive choice for car owners to lend their cars to unknown people.

Apart from helping its hosts make additional money, Turo also consults them on how to optimize their rental operation. The platform has enabled some hosts to set up businesses through which they rent out multiple cars.

In order to maximize the success of its hosts, Turo, furthermore, needs to increase trust and safety among network participants. First and foremost, this involves providing sufficient insurance packages so that both customers and hosts are not left hanging with the bill.

Additionally, the company conducts background checks on its customers to ensure they are good drivers. Unfortunately, negative instances still slip through.

One of the major problems on Turo’s platform is the usage of rented cars for illicit purposes. There are multiple reported instances of criminals smuggling drugs or even trafficking other humans by using cars rented via Turo.

Despite those setbacks, Turo is well-equipped to become one of the leading rental companies and even eclipse established players like Enterprise Rent-A-Car due to its asset-light business model. So long as it can attract hosts, Turo can expand into new markets at a much cheaper cost base since it doesn’t own any of the cars on its platform.

Much like any other typical marketplace (such as Airbnb or TaskRabbit ), Turo makes money from various fees that it charges when a booking is completed.

Both the customer as well as the host pay a fee, which is dynamically calculated based on the expected cost of a given trip. Turo normally gets to keep around 25 percent of each booking (= take rate).

Turo Funding, Revenue & Valuation

Turo, according to Crunchbase , has raised a total of $502.6 million across 13 rounds of venture capital funding.

Notable investors include Allen & Company, Manhattan Venture Partners, IAC, Kleiner Perkins, Daimler, and many others.

The last time Turo disclosed its valuation was during its Series E round in July 2019 when IAC poured $250 million into the business and valued it at $1 billion (post-money).

In 2020, Turo had generated $149.9 million in net revenue (up 6 percent year-over-year). It lost $97.1 million over the same timespan.  

Who Owns Turo?

Turo revealed its ownership structure within its S-1 when it confidentially filed to go public back in August 2021.

Barry Diller’s IAC remains the platform’s largest shareholder with an ownership stake of around 30 percent.

The second-largest (institutional) shareholder is August Capital, which owns close to 10 percent of the company.

Other significant shareholders are Canaan Partners, G. Squared, Shasta Ventures, and Google Ventures.

The largest personal shareholder, as one would expect, is long-time CEO Andre Haddad. He owns over 10 million shares, which equals 5 percent of all outstanding company shares.

Viktor Hendelmann

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Last Updated on December 9, 2022 by Viktor Hendelmann

How to Set Up an LLC for Turo: Protect Your Business and Maximize Your Earnings

So, you’ve decided to enter the car rental business with Turo .

Congratulations!

This peer-to-peer car rental platform can be a lucrative source of income, but have you considered protecting yourself and maximizing your earnings?

This article will guide you through setting up an LLC for Turo.

Learn how to safeguard your assets and take advantage of potential tax benefits while running your car rental business on Turo.

Table of Contents

Advertising links are marked with *. We receive a small commission on sales, nothing changes for you.

Key Takeaways

• Setting up an LLC for Turo protects personal assets, tax benefits, and credibility with customers.
• Forming an LLC for Turo involves several steps, including forming a single-member LLC, creating a separate bank account for the LLC, transferring the vehicle’s title to the LLC, buying insurance for the vehicle under the LLC, and adding the LLC to your Turo account.
• The specific requirements for forming an LLC for Turo may vary by state, and legal and financial obligations must be considered.
• Single-member LLCs are a popular option for Turo hosts, as they offer protection for personal assets and can be relatively simple to set up.
• Setting up an LLC for Turo can be a wise investment for those looking to protect their personal assets and take advantage of tax benefits. Still, it is vital to research your state’s specific requirements and legal obligations before proceeding.

Why Form an LLC for Turo?

If you plan to start a car rental business on Turo, forming a Limited Liability Company (LLC) can be a smart move.

Here are some reasons why:

Protection of Personal Assets

Forming an LLC separates your personal assets from your business assets.

This means that if your business gets sued, your personal assets will be protected, and you won’t be personally liable for any damages.

Ultimately, this can give you peace of mind and protect you from financial ruin in case of legal issues.

Tax Benefits

LLCs have a unique tax structure that can provide tax benefits to business owners.

As an LLC owner, you can choose to be taxed as a sole proprietor, a partnership, an S-corporation, or a C-corporation.

Each option has its own advantages. So, it’s best to consult a tax professional to determine which is best for your business.

Credibility with Customers

Forming an LLC can also give your business credibility with customers.

It shows that you are serious about your business and have taken the necessary steps to protect yourself and your customers.

In summary, forming an LLC for your Turo car rental business can provide you with protection, tax benefits, and credibility.

It’s a smart move that can help you maximize your earnings while minimizing risks.

Steps to Form an LLC for Turo

If you’re interested in setting up an LLC for your Turo car rental business, it’s a relatively simple process that can provide you with several benefits.

Here are the five steps to form an LLC for Turo:

i. Form a single-member LLC: First, you must form a single-member LLC.

This is the simplest type of LLC to form and is ideal for small businesses with only one owner.

ii. Create a separate bank account for the LLC: Once your LLC is formed, you’ll need to create a different bank account for the LLC.

This is an essential step to maintain the liability protection the LLC structure provides.

iii. Transfer the title of the vehicle to the LLC: Next, you’ll need to transfer the title of your Turo rental vehicle to the LLC.

This step will help protect your assets in the event of any accidents or legal issues related to the vehicle.

iv. Buy insurance for the vehicle under the LLC: It’s essential to have the appropriate insurance coverage to protect your Turo business.

You should purchase insurance for your rental vehicle under the LLC to ensure that the LLC is fully protected.

v. Add the LLC to your Turo account: Finally, you’ll need to add the LLC to your Turo account.

This is a simple process that can be done online, and it will ensure that your Turo earnings are reported under the LLC’s tax ID number.

Requirements for Forming an LLC for Turo

If you’re considering forming an LLC for your Turo business, there are several requirements that you need to be aware of to ensure that you’re compliant with the law and protected from liability. These requirements include:

State-specific requirements

LLCs are regulated at the state level, so the requirements for forming an LLC can vary from state to state.

Researching and understanding the specific requirements for forming an LLC in your state is essential before you start the process.

In general, you will need to file articles of organization with the state and pay the required fees.

Legal and financial obligations

Once you have formed an LLC for your Turo business, you’ll have ongoing legal and financial obligations.

You’ll need to maintain accurate records, file annual reports with the state, and comply with tax obligations at the federal and state levels.

It’s essential to stay organized and keep track of all the paperwork to avoid any legal or financial issues down the road.

By meeting these requirements, you can ensure that your LLC is legally formed and operating in compliance with the law.

With this, you protect yourself and your Turo business from liability.

Forming an LLC for your Turo business is a wise decision that can offer customers protection, tax benefits, and credibility.

The process is relatively straightforward, but it is essential to comply with state-specific requirements and legal and financial obligations.

Following the steps outlined in this guide, you can easily set up your LLC for Turo and start reaping the benefits.

Frequently Asked Questions

What are the benefits of setting up an llc for turo.

Setting up an LLC for Turo provides customers personal asset protection, tax benefits, and credibility.

What are the state-specific requirements for forming an LLC for Turo?

State-specific requirements for forming an LLC for Turo can vary but generally include filing articles of organization, paying fees, and appointing a registered agent.

What are the legal and financial obligations of forming an LLC for Turo?

Legal and financial obligations of forming an LLC for Turo include registering for state and federal taxes, obtaining any necessary licenses and permits, and maintaining separate financial records for the LLC.

What are the steps to form an LLC for Turo?

The steps to form an LLC for Turo include creating a single-member LLC, opening a separate bank account for the LLC, and transferring the vehicle’s title to the LLC.

Other steps are buying insurance for the vehicle under the LLC and adding the LLC to your Turo account.

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Joy is an expert when it comes to peer-to-peer rentals and therefore deals predominantly with topics from this area at Rentalero. Her favorite platform: Turo.

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Table of Contents

What are car sharing apps?

About getaround, turo vs. getaround recapped.

In a world dominated by ridesharing and rental car mega-corporations, two players have entered the market with a creative combination of established business models: privately-owned cars for rent.

This is like a short-term rental platform like Airbnb — but for cars. Whether you need wheels short-term to get around or are looking for a side hustle, companies like Turo and Getaround are an option.

While many of these apps are remarkably similar, the main difference between Getaround versus Turo boils down to pricing methods, interactions between owners and guests, and location availability. There are also differences for car owners, especially when it comes to the types of vehicles you’re allowed to rent out.

Let’s compare Turo versus Getaround and see how these trailblazers stack up against each other. In each section, we'll look closely at requirements for both car owners and car renters, availability, pricing, and other specifics of their offerings.

Car sharing apps are a sign of the times — and that’s not a bad thing.

For those who rent out their vehicles, they are a convenient way to make your assets work for you. For those who use the app to rent a vehicle, they can offer a way to save money on a car rental.

Both long and short-term car rentals are streamlined by each app’s platform to connect loaners and renters, make payments, and even get car insurance.

» Learn more: 4 best apps that come close to ‘Airbnb for cars’

Turo , based out of the Bay Area, was originally known as RelayRides. Founded in 2009, they’ve come a long way since its original website-only model.

The company rebranded in 2015 as Turo, and its app is simple. Sign up, verify your account and start scrolling or creating a listing.

Turo requirements

For car owners:.

Vehicle must have four wheels and seat eight people or fewer.

Vehicle has fewer than 130,000 miles and is no more than 12 years old. 

Must stay up to date with maintenance in accordance with company standards.

Must possess a clean title.

Vehicle’s fair market value cannot exceed $200,000.

Some specialty and classic cars are eligible that do not meet these standards, but you have to call to verify eligibility.

For car renters:

Must have a verified Turo account.

Meet the age requirement for the type of car you’re renting and country you’re renting in.

Possess a valid, full and permanent driver’s license.

Share your home address, a photo of yourself and a payment method in your Turo profile. 

Turo may review your credit report, auto insurance score or criminal record, if applicable.

» Learn more: 6 smart rental car alternatives you might not know about

Turo availability

Turo rentals are available throughout the U.S., Canada, the U.K., France and Australia, though availability varies by city.

In Canada, vehicles are available for rent in the provinces of Alberta, British Columbia, New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Prince Edward Island and Quebec.

» Learn more: How to avoid paying the under-25 car rental fee

Turo pricing

Turo’s search results only include daily rates and don’t initially display the total price including taxes and fees. The final price is only shown immediately before booking, which can be frustrating if you’re trying to search within a certain price point.

You also have the option to add insurance coverage in the form of a protection plan. If you already have auto insurance, Turo’s coverage will be secondary to your existing coverage.

» Learn more: The worst hidden travel fees (and how to avoid them)

Turo offerings

You can browse Turo using a wide array of filters, such as location, vehicle model or even the type of experience you’d like to have (such as renting a Deluxe Class car).

Need a car for a scenic drive, to unwind for the weekend, to get the errands done or to try before you buy? They have a filter for that.

It offers sections for pet-friendly cars, electric vehicles, all-wheel drive options and even classic cars.

As a vehicle owner, Turo offers the option to set a maximum daily distance or to allow unlimited mileage. The downside is that there are no limits on crossing state or provincial lines, only country borders. This is a potential risk worth noting.

» Learn more: Which car rental company usually has the lowest prices?

Getaround also was founded in 2009 and is based in San Francisco.

One of the company’s most marketed conveniences is contactless car-sharing, which is a major benefit for many. However, as we mentioned earlier, this can come with its own set of challenges, since cars can sometimes be difficult to locate.

Its app is user-friendly for both owners and renters; just like with Turo, it’s simple to sign up, go through the verification process and get started.

Getaround requirements

Vehicle must be a passenger vehicle with at least four wheels.

Model year 2007 or newer (if the car is 10 years or older, it must pass inspection).

Fewer than 200,000 miles (if the car has 125,000 to 200,000 miles, it must pass inspection).

Seat no more than 10 passengers.

Must have power door locks installed in the front doors.

Must be in good physical and mechanical condition.

Cash value of $150,000 or less.

Abide by safety recalls.

Have photos of all four sides of the vehicle uploaded to Getaround.

Certain exotic or performance vehicles are excluded from eligibility.

Be at least 19 years old (22 years old in Orange County and Los Angeles, and 25 years old for those coming from outside the continental U.S.).

Have a valid drivers license for the country you’re renting in.

Can pay for the rental with a credit card in your name.

Be present for the check-in and check out.

Verify your profile.

No more than two vehicle-related violations or accidents combined in the last three years.

No major vehicle-related violations in the last three years.

No drug or alcohol-related violations in the last seven years.

All drivers under 21 must have a clean record.

All drivers under 26 must pay the young driver surcharge.

» Learn more: The cheapest way to rent a car: 10 tips to save

Getaround availability

Getaround relaunched its app in 2024 and is now available in all U.S. markets as well as seven European countries, including France, Norway, Belgium, Spain, the U.K., Germany and Austria.

Getaround pricing

Once you login to the app or website, input your dates and destination. Like Turo, Getaround's search results don’t show the final prices.

Getaround doesn’t allow you to sort search results by price, but it does allow you to set a maximum price filter. If you’re searching for the most economical option, start low and go up from there.

The added fees can be a doozy.

For example, a recent search for a three-day rental showed a booking fee of $45.99 and a license verification fee of $16. Although some insurance coverage is included in the price and you pay the license verification fee just once, you’re still facing a substantial increase in cost from the base price.

Getaround offerings

Getaround offers daily as well as hourly rentals, whereas Turo only offers daily options. This flexibility is handy if you need to extend your rental or if you only need the car for a quick errand. The contactless transaction is also really convenient.

Trip liability coverage is included in the price, and it'll even let you add a second driver for free.

Getaround has partnered with Uber so you can drive for the rideshare company using a Getaround car if you don’t have your own.

Whether you’re in it for the extra income or you’re looking for an affordable car rental, peer-to-peer car sharing can be an efficient and economical choice for both car owners and renters.

Here's a summary of their differences:

Location . Turo has a smaller footprint in Europe than Getaround, but is available in Canada and Australia.

Safety. Both Turo and Getaround have systems in place to vet their drivers and renters.

Price. Both car sharing companies charge similar rates, and neither shows you full prices in search results.

Delivery. Want your car delivered to you? Check out Turo. If contactless rental experiences are important to you, Getaround is a better choice.

Length. If you need a car for only a few hours, Getaround can meet your needs, whereas Turo rentals are at least one day.

Take a look between the pair and see which option you’d prefer.

How to maximize your rewards

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No annual fee: Bank of America® Travel Rewards credit card

Flat-rate travel rewards: Capital One Venture Rewards Credit Card

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Luxury perks: The Platinum Card® from American Express

Business travelers: Ink Business Preferred® Credit Card

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75,000 Earn 75,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,125 toward travel when you redeem through Chase Travel℠.

on Capital One's website

2x-10x Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel and 5X miles on flights booked through Capital One Travel, Earn unlimited 2X miles on all other purchases.

75,000 Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel.