Turo: A Car Rental Marketplace

Do you have a car sitting around waiting to be used? Then you may want to try Turo. This service is a little bit like Zip Car meets Airbnb. It adheres to the idea that if you have a resource waiting around to be used, why not make some money off of it?

Turo is pretty straightforward. If you want to rent your car, create a free profile for your car including a description and photos. When someone becomes interested in renting your vehicle, you will be notified and can choose to accept or reject the request.

Keep in mind people who apply to rent cars through this service are screened, although the extent of this screening is unclear from the website. What is clear is insurance coverage. Turo covers up to $1 million in liability and offers 24/7 roadside assistance. This is reassuring for the car owner. From the renter’s side of things, you will have to choose coverage and may be responsible for any damage not covered by your plan.

The nature of the car exchange is up to you and your renter. Under the Tips and Tricks section of the website, Turo encourages participants to research each other and to refrain from sharing personal information with people from the site. It seems that much of the contract is determined between the renter and lender, so you may want to make sure to keep correspondence with any car clients in writing. Your profits are determined by the value of your car and how often it is rented.

If you are looking for a way to make extra cash, this could be a great opportunity.