The US’s Turo, the world’s largest peer-to-peer car sharing marketplace
Source：Turo, Wikipedia, Travel+Leisure, The Washington Post, NerdWallet
From：Taiwan Trade Center, New York
Update Time：2024/02/15
Turo, often described as “the Airbnb of cars”, is a peer-to-peer car-sharing app that allows private car owners to rent out their vehicles. The platform, which was created in 2010 in Boston under the name of RelayRides, is available in the United States, the United Kingdom, Canada, Australia, and France. While the service is now accessible in all 50 states of the U.S., it was not until recently that Turo launched in New York state. In May 2013, the New York State Department of Financial Services released a consumer advisory, cautioning that RelayRides had provided inaccurate information regarding insurance coverage for its program users. Subsequently, New York issued a cease-and-desist letter, mandating RelayRides to discontinue its operations, before re-authorizing it in June 2022.
In 2019, the American internet and media holding company IAC — known for owning big names such as Ticketmaster and Expedia — saw the potential in Turo’s concept and invested $250 million in the company. This deal, bringing Turo past the $1 billion valuation mark, further strengthened its position as the global peer-to-peer car-sharing leader.
How does the app work? First, browse cars shared by local hosts around you that are available for your dates. You can filter your search by price, rating, type of car, etc. Then, book the car of your choice and select a protection plan through the app or website (cancellation is possible up to 24 hours before the trip at no cost). Finally, have the car delivered to your place (fees may apply) or pick it up at the given location.
Overall, Turo seems to be a great car rental agency alternative. Most users have positive reviews and are especially satisfied with the price and smooth pick-up and drop-off process. While the cost of traditional car rental has decreased since the car rental crisis of 2021, Turo often remains the most affordable option. Additionally, the other significant advantage of using Turo is its seamless pick-up process: instead of queuing at an airport counter (which can take a while), you meet the Turo host at a given pick-up location or the car can even be delivered right to you. For Turo hosts, it is a good opportunity to make money on items they are not using every day, in line with the company’s mission “to put the world’s 1.5 billion cars to better use”.
However, one thing that might defer some users from renting a car through Turo is the absence of any coverage for damages beyond the app’s optional protection plans. As credit cards’ collision damage waivers don’t usually cover peer-to-peer rentals, you are encouraged to purchase one of the three Turo’s coverage options: minimum, standard, or premium. Therefore, once the insurance fees add up, it might not be as cheap as initially announced.
Sources:
Source: https://www.travelandleisure.com/travel-tips/rental-car-app-turo-review