Drivers ‘could make £500 a month’ via peer-to-peer car rental, says Turo

UK drivers could earn £500 a month by making their idle vehicle available to renters on Turo’s peer-to-peer car-sharing service, the company says. Turo carried out a poll of 2,000 UK motorists which revealed the average Brit spends under nine hours a week behind the wheel. UK drivers also leave their car unused for three days each week, the company adds. Xavier Collins, Turo’s UK director, says many drivers spend a small fortune on cars but never realise their full potential. “For the vast majority of
November 12, 2018 Read time: 2 mins
UK drivers could earn £500 a month by making their idle vehicle available to renters on Turo’s peer-to-peer car-sharing service, the company says.


Turo carried out a poll of 2,000 UK motorists which revealed the average Brit spends under nine hours a week behind the wheel.

UK drivers also leave their car unused for three days each week, the company adds.

Xavier Collins, Turo’s UK director, says many drivers spend a small fortune on cars but never realise their full potential.

“For the vast majority of adults, their car sits unused for most of its life. All the time it is unused, it could be earning money and repaying that investment,” Collins adds.

Findings show the average UK driver’s car is worth more than £14,000 and costs a further £1,118 each year in servicing, MOTs and upkeep.

Other findings show that 40% of UK drivers have gone two weeks or longer without using their car – with holidays being the most common reason.

Despite this, half of respondents say they would not allow anyone else to drive their car because of insurance issues.

Collins reveals the company has joined forces with financial services company 6027 Allianz to establish a comprehensive insurance cover to help provide security and peace of mind.

“Cars have, for too long, been our most depreciating investment but that doesn’t have to be the case anymore,” Collins adds.

In the US, 8262 Getaround has launched a similar car-sharing scheme in San Diego. The company says it expected drivers who subscribe to the service to earn more than $1,000 per month.

UTC

Related Content

  • August 15, 2019
    USDoT’s NETT is welcome – but Toyota unhappy at V2X development
    The US Department of Transportation has announced a new council to champion emerging mobility tech – but one car manufacturer is currently not feeling that such support is everything it might be The announcement of a brand new body to champion autonomous vehicles (AVs) - among other innovations – is a potentially welcome development for mobility and transit providers. Elaine L. Chao, US secretary of transportation, says that the newly-created Non-Traditional and Emerging Transportation Technology (NETT)
    Read More
  • June 19, 2019
    AVs could be ‘terrorist threat’, says security firm Advent IM
    Terrorists who have hijacked vans and trucks to drive into crowds – causing death and injury to pedestrians – could use autonomous vehicles (AVs) to achieve a similar result with no risk to themselves. That was the warning from Mike Gillespie, MD of security firm Advent IM. Speaking this week at the IFSEC International 2019 security conference in London, he said: “Imagine that you don’t have to get in the vehicle, you don’t have to be in the same city – or even the same country.” They would still be a
    Read More
  • December 7, 2020
    Saving the world, one parking space at a time
    Donald Shoup, professor of urban planning at University of California, Los Angeles (UCLA), tells Adam Hill about why parking is too cheap – and how Monopoly could seriously raise its game
    Read More
  • March 30, 2017
    Smart parking technologies: solving drivers parking pain
    Smarter parking can benefit city authorities and other road users as well as drivers looking for a space, argues Dr Graham Cookson. As witnessed by the recent announcements at the Consumer Electronics Show, the automotive industry continues to focus on the driving experience; moving from speed and handling towards safety and efficiency.
    Read More

Highlighted Content