What is Turo and how does it work?
Similar to renting a place to stay on a website like Airbnb, Turo calls itself a car-sharing marketplace that connects vehicle owners, called hosts, to drivers who will pay a daily rate to use privately owned cars. The company is based in San Francisco and launched the platform in 2010. Turo is the world’s largest car sharing marketplace, where you can book the perfect car for wherever you’re going from a vibrant community of trusted hosts across the US, UK, Canada, Australia, and France.Getting started on Turo Set your preferences, including when your car is available and your daily price. Add some photos and a description, and you’re good to go. When a guest books your car, you’ll get in touch with the details. The Turo app walks you through everything you need to do.Turo permits hosts to use tracking and technology devices in order to track and protect their vehicles. These include, but aren’t limited to, GPS, aftermarket vehicle tracking technology, original equipment manufacturer (OEM) devices, cameras, and telematics devices.Sometimes Turo is cheaper, but once the fees add up (and you realize your credit card car rental insurance likely won’t kick in), it’s not always as budget-friendly as you might think.
What countries is Turo available in?
Where is Turo available? You can book a car with a Turo host in the United States, Australia, France, and the United Kingdom. Turo operates in the United States, Australia, France, the United Kingdom, and in the Canadian provinces of Ontario, Quebec, British Columbia, Alberta, Nova Scotia, Prince Edward Island, New Brunswick, Newfoundland and Labrador, and in the Canadian territory of the Yukon.
How does Turo pay you?
How payment works. It typically takes our payment processor, Stripe, three business days to confirm and process payment. Once Stripe has confirmed, Turo will initiate payment to you in your native currency. If you have a trip that lasts longer than a week, we’ll make weekly partial payments. US HOSTS: Once Turo initiates your payment, your bank will take an additional three to five business days to verify and process the payment as a direct deposit. HOSTS OUTSIDE THE US: Stripe takes about three business days to confirm and process a payment. Once it does, Turo initiates payment to you.Payment options When Turo will charge your payment method for a trip depends on the available payment option you choose. Your options may include Pay now, Pay later, Pay as you go, or Pay over time. Not all payment options are available to all guests at all times.Turo on Uber is an exciting new partnership that provides Renters access to Turo’s vehicle base accessible for booking through the Uber platform. This unique offering allows users who are already using the Uber platform to skip the rental counters and book Rental vehicles directly with Turo hosts.Turo is all over the world! With listings in over 56 countries and counting, thanks to the Commercial Host program, you can find the perfect car in the world’s hottest destinations, just in time for a well deserved holiday.
How much does Turo charge?
Take rate percentages apply to: Trip Price – A percentage of the Trip Price goes directly to Turo and helps us run the Turo platform. This percentage of the Trip Price represents our marketplace fee and is currently 7. Trip Price. Owners can set their prices, rules, and availability. Turo pays owners 60% to 90% of the trip price by direct deposit. A third-party company protects owner vehicles with a standard $750,000 liability insurance protection plan. Once a vehicle is listed, owners can expand their business by renting more cars.Revenue Sharing Instead of owning cars, Turo earns money by taking a commission on each rental transaction. This commission, which varies based on factors like the chosen insurance plan, forms the backbone of Turo’s revenue model. The more transactions the platform processes, the higher its overall revenue.