I tried renting out my car on Turo in 2024, here's how much money I made...

In this video, I'll give you guys a full breakdown of how much profit I earned from my turo car rental business - renting a new car out on Turo, and all of my expenses to get started and keep going! I wanted to give you guys the real numbers, even if they don't look the best right now. I'll come back and drop an updated video later on and we can see how things are going...

Supplies I recommend for your car:
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RISE N' ASCEND \\
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In April 2024, I bought a 2022 Toyota Corolla with 25,000 miles on it to try and rent it out on Turo and turn it into a side-hustle... here's what happened.

[seabass]

Cheaper cash cars are the way to go on Turo, $5000-$7000 cars that are reliable brands do best, as long as they’re within the allowed year and mileage range. The daily rental rate for those is the same as a $20k+ car, so it doesn’t make sense financing a newer car, unless it’s a sporty model that can rent out for $100/day or more. Also car wash subscriptions are a must and saves you a lot of money in the long run. As for insurance there are Turo/rental only insurance policies that you can get for the car that are very cheap, however don’t allow you to use the car for personal use, so that’s the trade off. Getting a lockbox for the car is great too so you don’t have to meet the renter each time, just drop it off and give them the code. There’s right and wrong ways to do Turo, and can be lucrative if done the right way. Hope this helps!

[mrjuren]

Thanks for posting, I'll say the most important (and difficult to research) is getting the right car for your market (putting on whatever car you have may not work if it's not in demand). I'll noted that TURO is typically very price sensitive, most of the time the cheaper cars will rent first, so either be ready to rent last minute for a higher price or be prepared to drop your price.

[marcogalindojr]

Video just popped up in my feed. Pretty sure you go to Jacked Culture, i run a small Turo fleet in the area. Can give you a bunch of ways to better optimize this just lmk

[Tisakoreann]

Super Transparent, you earned a follow.

[spades]

I used to work in rental car. It is the last thing I would ever get involved on a personal financial level. People are nasty. Turo has just found a way for other people to cover their capital and assume all the risk — especially with depreciation and trying to get rid of cars that have already experienced accelerated depreciation due to higher miles and the black mark that it has a history of being a rental.

[Rimasfilms]

I’m still feeling a bit skeptical about getting consistent bookings. I live in Pompano Beach, FL, which is about 20 miles from Fort Lauderdale airport, and I’m wondering why anyone would come out here to rent a car when they can easily get one at the airport or nearby.

[Wire-Free]

Any car and any year model could experience a recall, which Is a major pain in the butt!😢
My 4 month old '22 Frontier was re-called and awaiting the repair for 7 months before the dealer could service it! I finally got it relisted on the Turo platform... The Lost revenue was very painful

[stormhawk]

There's just no profit left in Turo, unless you're buying SUPER cheap cars, for cash, and using those. And even then, Turo has basically slit the throats of the owners. I don't know how ANYONE can make money on Turo anymore.

[ConnorRosberg]

The recall has a fix now, just got it fixed on my 2021 corolla. Just had to get my inspection, now its relisted.

[exor]

I'm learning on how to start with Turo, I see you have a Geico Insurance. You can't put those Insurance that cost like 110$ a month on a lease/loan car?

[mrjuren]

Can you tell us how many miles you put on the car for those first 2 months? (Did you buy the toyota with higher mileage?)

[chefgromano]

Sounds like not worth it if you break down per hour and wear and tear on vehicle.

[sam.lozano]

OK so basically these cheap cars are not profitable

[viktorivakhno]

all on the market charge 120 for airport... Let me damp price and charge 80... That is why they are charging 120...

The same with rates

[itsjameshuston]

Spoiler alert, no one is making PROFIT on Turo