I made $1600 in profit from car sharing on Turo in October. It was an exceptionally low maintenance month since one rental was 16 days long! Check out my profit and loss statement and see how I did.
I’m reporting $1,695 in earnings for September on 1.5 vehicles. Revenue hit a record high of $3,005. Unfortunately, expenses also came in higher than last month at $1,310.
September was a slight down month but strong fundamentals are showing. Those include high utilization, higher average revenue per day and relatively low mileage utilization. The 5-star reviews continue to roll in. My operations and ‘vehicle turnover’ process is working out well.
My car sharing vehicle was towed for $689.25. Turo parking shouldn’t be difficult. Good communication between the host and guest can reduce bad situations and ultimately lead to more 5-star reviews.
Owning a vehicle is expensive. Car payments, insurance, maintenance and depreciation all factor into ‘car ownership costs’.
Reducing the costs of owning a car with Turo isn’t hard. It requires a little work, but for the most part it’s ‘passive income’. This means that you can still have a primary job and use Turo as your ‘side-gig’.
I’m confident you’ll be up and running in no time. Maybe car share hosting is for you?
August was a record month for my vehicles on Turo’s peer to peer car sharing marketplace. I earned $2,035 after expenses with 3800 miles driven.
In this post I review what worked, what I need to work on, and what I’m forecasting for next month and beyond.
Ready to start sharing your car? Want to reduce the cost of car ownership? Get in touch and let’s strategize.