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

  • January 25, 2018
    Manchester seeks smart but not selective transport solutions
    Smarter transport relies on better communications both with travellers and between transport providers. Andrew Williams reports. Inrix’s prediction that the cost of traffic congestion will rise by 63% to £21bn per year by 2030 clearly illustrates that, in addition to the ongoing inconvenience and inefficiency, ongoing gridlock is a significant drain on the economy. It is against this backdrop that a Cisco-led consortium has launched CitySpire, a smart transport programme that uses location-based services a
    Read More
  • October 17, 2016
    Two seconds – the difference between life and death
    Professor Donald Fisher has spent 15 years identifying factors that increase the crash risk of novice and older drivers. His findings highlight the difference between living and dying, Colin Sowman reports.
    Read More
  • January 23, 2020
    Timing is everything for EV charging
    Electric vehicles are often promoted as a more sustainable alternative to diesel and petrol cars - but their arrival raises concerns about the strain which charging will put on the grid.
    Read More
  • February 8, 2018
    TomTom On-Street Parking service available in 100 European Cities
    Amsterdam-based TomTom’s (TOM2’s) On-Street Parking service is now available in 100 European cities. The solution is designed with the intention of providing drivers with the probability of finding a parking space on the street, including locations where parking is free, as well as the average search-time. It is available for OEM and Enterprise clients.
    Read More

Highlighted Content