For years, people have been renting out their homes on Airbnb. Guests can go online and browse through all the different homes listed. If they want to stay in a huge castle, they can. If they want to stay in a small, quaint villa, they can. It was only a matter of time before the concept moved to vehicles.
Turo, a peer-to-peer car sharing company, is looking to compete with the likes of Avis and Enterprise in the rental car market. With the average monthly car payment jumping to over $520 per month, people are looking for ways to make money on their cars while they are just sitting around unused.
If you want to drive a Suburban, you can. If you want to drive a convertible sports car, you can. Customers simply go online and search through the available cars in the area they are interested in. Once they find the car that interests them, they send a request to the owner. The owner of the car has the option to accept or decline the request. If the owner agrees to rent their car, they have three options for meeting up with the renter. They can deliver their car to a specified location within a given radius, they can deliver their car to the airport or the traveler can pick up the car from the driver’s location.
The factor that I found most concerning for the owner, was what would happen if something happens to your vehicle while someone else is driving it (all this information is displayed on their website). Turo protects drivers by providing them with $1 million in liability insurance to protect against theft and physical damages. They also make every person interested in renting a car apply online first by submitting their driver’s license and other information necessary to become an approved driver.
All and all, this seems like a cool option for people that want a more personalized way to rent a car or for people that are looking for a way to make a little extra money that don’t mind strangers driving around their car.
Would you ever rent out your car? We would love to hear from you!
For more information about Turo, check out their website!