Renting Your Car: A Guide to Making Money on the Road

Does your car spend most of its time sitting in the driveway?

You can make hundreds of dollars a month by renting out your car to people by the hour, day, or week.

The side income you'll get from this is pretty passive, but you'll have to communicate with the renters, do hand-overs, and maintain the cars.

Why Should You Consider Doing Mystery Shopper Jobs Online?

How to get started:

List your car on online marketplaces like Turo and Getaround to find customers.

Next, lay your own ground rules for using cars, set your own daily price, or let Turo or Getaround automatically adjust your price to maximize your earnings.

When a guest books your car, you'll confirm where and how to hand over the keys before the trip.

Check your guest in with the Turo or Getaround app, then sit back and relax until the trip is over.

Expected earnings:

You'll earn 65% – 85% of the trip price, depending on the vehicle protection plan you choose.

Turo's website mentions that you can earn $706 a month on average by renting your car.

But we will say, earnings will fluctuate depending upon the type of car you have, your location, and the number of trips it gets rented for.

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