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Let’s face it. You own a car that you are paying for and you are probably not using it all of the time. Maybe you only drive it to and from work in the morning. Maybe you only drive it certain days of the week or month. For me, I find that my car ends up sitting for long periods of time on the weekends or when I am out of town. This is the situation that a lot of people find themselves in when they start to ask the question, “can I rent my car to someone?” This is a great question, especially for someone who wants to turn their biggest expense into a means of making money.
Can you rent your car to someone?
The answer is yes. While there are a lot of smaller services, the most common service to rent your car to others is Turo (formerly RelayRides). With Turo, you can rent your own car to someone that wants an alternative to a rental car and they pay you through the app.
How do you rent your car to someone?
You start by signing up for Turo through their website or downloading the mobile app. You will create a new listing and provide some basic information about yourself and the vehicle that you want to rent. There are a few limitations to the types of cars that you can rent on Turo, but if you have a normal passenger vehicle, you should be good to go. Once you create your listing, you will set your price, availability and pickup options. From there, your car will be listed and you will start renting your car out to others.
How much can you make renting your car to someone?
This will completely depend on the demand in your area and your specific vehicle. For most cars in a relatively large city, you will be able to make between $100-$750 per month using Turo. Be sure to consider all of the factors that go into your costs when you are determining how much you can make on Turo, but for many people, it can be a good money making option.
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Well, there you have it. If you are looking to rent your car to someone, Turo is your best bet and you most likely can qualify. Be sure to do your research before putting your car up there. Also, make sure that you consider all of the costs associated with renting your car and your alternative means of transportation. Renting your car to someone is one of my favorite side hustles and has paid for my car almost every month since I’ve had it. If you have additional questions, please feel free to leave them in the comments below.