From the Magazine

How To Make Money Renting Your Car

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When Sheri Sakamoto started loaning out the car that she rarely drives, she began raking in serious cash. Read on to learn how she does it!  

“About four years ago, I moved back to California. I work from home, and I don’t always use my second car. So when my fiancé told me about Turo, an app that lets car owners rent out their vehicles to earn money, it seemed like a great fit. All you do is list your car, upload a few photos and wait for people to rent.”

“I drive a Mazda Miata convertible, and I live near the beach, so I thought my car would be popular. And it has been! I rent it out a few times a month. I take pictures before each rental so I have documentation if anything happens to the car. I’ve averaged between $200 and $250 in rentals each month, and one month I earned $450!

“It’s so easy. After you confirm a request, you can choose to deliver it or you can have people come to you. And Turo offers $1 million in liability protection and roadside assistance, plus your rental contract covers theft and damage protection, so it’s totally safe.

“I like to provide a personal touch, so I meet the renters and show them the car, like how to take the top down. I’ve even given people recommendations for restaurants, directions to the beach and ideas for things to do. I’ve met so many nice people from all over doing this!

“I use the money to subsidize the cost of my car and to pay for extras, like a weekend in Palm Springs with my fiancé!”

This story originally appeared in our print magazine.

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