welcome back so I wanted to talk today about typical earnings from using turo in the UK um so we have a car based in Manchester while on the outskirts of Manchester um it's had a few long bookings I think Toro have got like a promotion on at the moment so for the longer term bookings um customers can get up to like 30 40% discount so yeah what they're doing for hosts um they're often like cash back if the trip goes well you get a good review um you'll get some money back from the platform obviously as well as what you earn from the customers booking um so the car that I wanted to talk about so we have a 2015 Ford Focus um also made a video on this car um got it from auction it's just a one L petral um it's been on the platform for probably just over a month and a half um it's pretty much booked out now for the next three months so I think like three people have got it for like a month each um so the car's cost was around £5,000 overall insurance for the year on a multicard policy is about £450 and then you've got obviously it's 20 p a year rotap so it's quite cheap and then obviously your mot and service cost so service is basic service probably 180 um m is about 40 50 uh roughly so all in about 57 I'd say um now the booking that we've got um is from the 29th of April so 2024 to the 22nd of May so it's 24 days now one thing when you list a car Toro will give you like a recommended price of what they think you should list a car at and then you can adjust it so there's like a minimum and a maximum usually like boundaries they'll set um now Torah recommends 29 a day for this car again it can change with the seasons as well obviously more demand sometimes and over certain holiday periods now based on I think we may lowered it to 28 a day just to get some traction with the car um so with this booking over 24 days at 28 a day the full income is basically 672 now that'd be great if we got all of that but there's sort of a few caveats with it so obviously Toro will take their platform discount and fees from that but the main things are so what you get taken off that car and again you can set these but discounts for different durations so this person that bought the car they got a twoe discount which is currently set at 40% so it encourages them to take it for longer but as a host it's less work so if a customer got it for 24 30 days or whatever it's just less messaging less meeting up they've just got it they'll bring it back it's quite a simple process um as I say you can set the discount you can turn it off you can have 5% 10% um but again Toro recommend 40% so 40% is 235 and 20p that's been taken off there's also a thing called an early bird discount again you can turn this off that's currently at 5% um so if they book I think it's like 7 days or more in advance they'll get the 5% off so that was £33 60p um so some of the reductions there were basically bringing the total to 403 three left and then Toro have their fees which was £100 80P and then there a sales tax of £20 and 16p I believe so the remainder so what we get transferred to us um basic once Trip's complete it's usually a week later you'll get it transferred to your bank account um for 24 days 282 and 24p so I think if you based on if it was a monthl long booking it would be over 300 um obviously the ideal scenario if you could book it out 12 months in the year you know you're looking at 3,600 a year if it was fully booked out obviously there will be gaps um but based on those mat you know you the car can be paid off a year and a half two years down the line um that's if obviously it doesn't need any major repairs or it doesn't go for accidents which is going to be common um but yeah if all went well then you know the asset could pay itself off within about 2 years so it can be worth doing it just depends on the the appetite for risk um also depends on where you are what time you've got available cuz it is quite time consuming to get a car get a remote unlocking kit if you're going to use that obviously meet up with people if you're going to do a key Handover um but yeah just thought I'd run you through a typical example of the numbers um I mentioned in my other video that Torah have two plans one at 65 one at 75 so the host will keep 6 5% of the earnings the other plan 75% you keep and then there's different benefits to the two different plans but if you are considering it I'd say it's worth having a go if you have got a car that's not being used um I think you know we all need to start sharing cars eventually um everyone can't just keep having a car to themselves basically so yeah have a look at the apps um maybe consider renting out your car I say you have to be a little bit Brave to do it but it it can work out B basically thanks for watching