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

  • March 21, 2019
    ‘Abolish the DfT,’ says UK Transport Systems Catapult boss
    Radical steps to improve travellers’ experience of transport in the UK were proposed at ITS International’s MaaS Market conference in London this week. In the keynote speech on day one of the two-day event, UK Transport Systems Catapult CEO Paul Campion said that the public doesn’t really care about transport – all they really want is to get where they are going. “It’s a necessary evil,” he told delegates. “We travel to come to work, to a conference, to take the kids to school – it’s a distress purcha
    Read More
  • October 14, 2013
    The future car will be a robot-driven giant computer, says report
    A newly published Frost & Sullivan video report, The Future of Mobility summarises the key factors which impact the way people will move from door to door in the future and which will add a new dimension to the mobility behaviour of human beings. The video report highlights trends impacting mobility, presents future mobility solutions like car sharing, and mobility apps, providing door to door one stop shop journeys, and discusses and compares what organisations within the mobility eco-system are doing to e
    Read More
  • September 29, 2017
    Autonomous vehicles will not hit UK roads for over a decade, says PA Consulting Group
    PA Consulting Group's latest research on autonomous vehicles (AVs) suggests that despite much hype, they are more than 10 years away from being a common sight on UK roads. PA's findings revealed that while progress is being made around technology, the rest of the ecosystem to support driverless cars - for example regulation, insurance, compliance, roads, users - still needs a lot of development. The recent launch of the Government's MERIDIAN scheme progressed plans for CAV technology development in th
    Read More
  • August 29, 2019
    Don’t drive drunk – or use a hands-free phone
    Despite law changes, drivers’ bad habits have been creeping back in. TRL’s Dr Shaun Helman tells Adam Hill why using a phone at the wheel is just as distracting as driving after a few drinks esearch from as far back as 2002 (see box) suggests that driving while making a phone call – either hands-free or holding a handset to your ear – creates the same amount of distraction as being drunk behind the wheel. While it is notoriously hard to predict how alcohol will affect an individual (due to the speed of
    Read More

Highlighted Content