Typical Earnings from Using Turo in the UK

Introduction

• Location: Car based on the outskirts of Manchester
• Current Trend: Long bookings due to a Turo promotion offering 30-40% discounts
• Host Incentives: Cash back and additional earnings for good reviews

Case Study: 2015 Ford Focus

• Acquisition: Bought from auction, 1L petrol
• Platform Duration: Listed for just over a month and a half
• Booking Status: Booked out for the next three months (three long-term bookings)

Costs Involved

• Car Cost: £5,000
• Insurance: £450/year (multicar policy)
• Road Tax: £20/year
• Service Costs: Basic service £180
• MOT: £40-50
• Total Yearly Cost: Approximately £570

Example Booking

• Duration: 29th April 2024 to 22nd May 2024 (24 days)
• Recommended Daily Rate by Turo: £29/day
• Adjusted Daily Rate: £28/day
• Total Income Without Discounts: £672
• **Discounts Applied:
  • Long-Term Discount: 40% (£235.20)
  • Early Bird Discount: 5% (£33.60)
• Income After Discounts: £403.20
• Turo Fees: £100.80
• Sales Tax: £20.16
• Total Income After Deductions: £282.24**

Earnings Potential

• Monthly Earnings: ~£300 for long-term bookings
• Yearly Potential: ~£3,600 if fully booked
• Break-Even Point: Car could be paid off in 1.5 to 2 years (assuming no major repairs or accidents)

Risks and Considerations

• Time Commitment: Time-consuming for car maintenance, coordinating bookings, and handovers
• Risk Factors: Potential for accidents and repairs
• Remote Unlocking Kit: Option to reduce handover time

Turo Host Plans

• 65% Plan: Host keeps 65% of earnings
• 75% Plan: Host keeps 75% of earnings
• Plan Benefits: Different benefits associated with each plan

Conclusion

• Worth considering if you have a car that's not being used
• Requires a willingness to take on some risk and time commitment
• Promoting car-sharing as a sustainable practice