Renting a car has gotten expensive and the big rental companies may not have the car you want. Enter carsharing services, which let people rent out their cars to others who need a ride. The transaction in done through an app, where the renter selects the car they want and makes arrangements to pick it up. Typically, the renter pays less than they would from a car rental company, and the owner of the car gets paid for the use of their car, which otherwise may have just been sitting in the driveway.
Getaround is available in 250 U.S. cities, and 850 cities around the world. They are working hard to add hosts to their platform and encourage hosts to rent multiple cars, or even to start a carsharing business using Getaround.
When you book a car on Getaround, you’ll get a choice of vehicles that are available. For example, you can book a 2018 Chevy Cruze for 24 hours in Salt Lake City, Utah, for $60.47. Sounds like a good deal, but don’t forget the fees for extra mileage and if you need to cancel your trip.
There is also a booking fee for every trip and extension. It’s a percentage of the trip price and it can vary. There’s a license fee on any first-time booking or any change to your license.
If you’re under 25, you’ll pay an additional fee based on your age. You’ll pay:
- 75% of the trip price if you’re 19
- 45% of the trip price if you’re 20
- 25% of the trip price if you’re 21
- 15% of the trip price if you’re 22
- 10% of the trip price if you’re 23
- 5% of the trip price if you’re 24
If you cancel your reservation within 24 hours of the start time, you may pay a cancellation fee of 50% of the trip price.
If you return the car dirty, you may be charged a cleaning fee of $70.
You’re allotted 20 miles per trip hour, to a maximum of 200 miles in each 24-hour period. If you exceed this, you’ll be charged $0.50 per mile for the miles you go over.
If you’re in an accident, there is other damage or the car is stolen during your tip, you may be charged a damage fee of up to $3,000. This fee may be reduced if you purchase a protection plan.
If you lose or damage a Getaround key, you’ll need to pay the cost to replace the key, plus a $100.00 key fee.
Getaround offers average guaranteed monthly earnings, based on the make, model and year of your car, where you are located, and whether you’ll rent your car every day or just on the weekends.
For example, if you drive a 2016 Chevy Cruze and live in the metro Atlanta area, you’re guaranteed to earn $775 in August if your car is available full time, or $250 if it’s available on the weekends only. Plus, you can get a 15% boost in your earnings if you maintain average feedback of 4.5 or higher, and another 10% when you enable Drive with Uber, which means you’ll let Uber drivers rent your car.
Getaround actively encourages hosts to rent multiple cars, and even to start their own carsharing business, where they make a living by renting a fleet of vehicles.
Hosts pay a one-time setup fee for Getaround Connect, the device that lets guests unlock your car with their phone. It’s $99. Then you’ll pay a monthly fee based on the number of cars you share.
- For one car, you’ll pay $20 a month.
- For 2-9 cars, you’ll pay $18 per month, per car.
- For 10-49 cars, you’ll pay $15 per month, per car
- For 50-99 cars, you’ll pay $12 per month, per car.
- For 100 or more cars, you’ll pay $10 per month, per car.
If you take a car out of service on the app and you don’t return the Connect, you could be charged $500.00.
If your Connect is uninstalled by a mechanic or someone else, you may be charged $150.00 to reinstall it.
If a host cancels a trip, they may be charged $25.00 if it’s less than 24 hours before the trip begins, $50.00 if it’s less than one hour before the trip begins and $100.00 if you’re a no-show.
Turo bills itself as the “world’s largest car sharing marketplace,” and is available in more areas than Getaround. Pricing seems to be a bit more affordable as well, but that can depend on a number of factors, such as your location and the car you choose.
On Turo, you can rent a 2021 Toyota Corolla for a day for $59 in Boston. Or, you could pay $106 for a 2021 Tesla Model 3 for a day. You can have the car delivered to you, which is a nice feature if you’re renting because your car is in the repair shop, for example.
Turo charges a trip fee, which is a percentage of the trip price and is variable, based on the value of the car, the duration of the trip, how far in advance you book and other factors. You’ll see the trip fee at checkout.
You can purchase a protection plan which will cover you in the event of an accident. The minimum plan is 15% of the price of a trip that’s over $25, or 25% of the price of a trip that’s less than $250. The standard plan is 40% of the trip price, and the premier plan is 65-100% of the trip price. You can decline the protection plan, but you’ll be responsible for any theft or damage, including bodily injury. Your personal auto insurance, if you have it, would pay first, and your Turo protection plan would cover any excess costs up to the policy limits.
Turo charges fees for things like canceling within 24 hours, cleaning, gas if the car isn’t returned full, and so on.
Hosts earn a percentage of the trip price plus additional distance and late return charges. This percentage is what Turo refers to as the “take rate,” and it varies depending on the protection plan you choose, but ranges from 60% to 90%. Hosts also get 100% or reimbursable amounts for things like missing fuel, tickets, tolls, cleaning fees, etc.
Hosts will get charged fees for things like cancellations, no-shows, cleaning policy violations, misrepresenting your vehicle and so on.
Turo and Getaround both bring the peer-to-peer rental model to cars, just as Airbnb has done for accommodations. Whether you are a renter or are renting out your car, the best way to determine which one is best may be to try them out and see what you think.
- Are Getaround and Turo the same?
- They are different companies, but they have similar business models. Both allow individuals to rent out their cars when they're not using them and get paid for it.
- Why is Getaround so expensive?
- Getaround charges you to rent a host's car and then adds on fees if you cancel, if you go over the mileage limit or if you are younger than 25 years old. The fees can really add up, so be sure you know exactly what you'll be paying before you confirm your order.
- Can I rent my car on Turo and Getaround?
- You can rent your car on either of these platforms, but not on both at the same time. You need to indicate your car's availability when you sign up to host, and you'd run the risk of having two simultaneous or overlapping requests. When you agree to host, you agree to use that platform only.
- Do you make more money on Turo or Getaround?
- This can depend on where you are located, what kind of car you are renting, and how available your car is. That said, Getaround has some attractive bonuses for hosts at the moment, including a bonus for signing up a new car and bonuses for getting good reviews.
Information is accurate as of Aug. 16, 2022.
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This article has been recently updated for accuracy since its original publication.