Turn to Tara: Ways to make extra cash by renting out your car
There are many ways to make extra cash these days - from renting out your house on Airbnb to selling items around the house - but did you know you can also rent out your car?
News 12's Tara Rosenblum has the details on how you can rent out your car to make some extra money.
Turo is a peer-to-peer car sharing app that allows tourists to book vehicles to rent. The host can earn on average $706 a month after Turo takes a cut
Basim McLeroy, of New Jersey, has been renting out his vehicle. He says he's earned $5,000 in six months. He's done so well that he even bought a second car.
So, what happens if there is an accident when the car is rented? McLeroy says there is protection.
"Every single trip is backed by liability insurance and so the hosts are covered. And we also will cover hosts and reimburse them for any physical damage that happens up to the cash vehicle of the car," says Albert Mangahas, the chief data officer for Turo.
Mangahas tells News 12 that safety is a priority. Mangahas says all vehicles have to be a model year 2005 or newer and have fewer than 130,000 miles.
"We make sure there's no safety recalls, and the car doesn't have too many miles on it," says Mangahas.
Anyone interested in renting a vehicle can visit Turo's website to find out the options and pricing. Click here for more information on peer-to-peer car sharing programs. Other car sharing apps include Getaround and HyreCar.