NEW ORLEANS — If you need a place to stay, you might use the Airbnb app. Need a ride? Maybe it’s Lyft or Uber for you.
But what if you want to rent out your own car for cash? That’s what the Turo app and website let you do.
“It’s a great gig,” says Erin Walters-Bugbee.
Erin rents her Fiat 500 through Turo. “The money that I make off of the car monthly makes it possible for me not to have a waitress job right now,” she says.
Turo has hundreds of thousands of cars available around the world. Just in the New Orleans area, customer can rent everything from economy cars to Mercedes, Maseratis, and Teslas.
Erin says that anyone who is interested in listing their car on the app should consider the potential downside as well. Recently, someone who rented Erin’s Fiat drove it to Massachusetts. It had to be returned on a flatbed truck.
“She’s been rear ended. She’s got some scrapes, a couple broken windshields,” Erin says, referring to her car.
Turo helps people who list their car get insurance to cover damage. Erin’s car is the most rented on in the New Orleans area.
“There are some months that it’s rented as often as 25, 28 days out of the month. So I never see it.”
So why would someone rent their own car and run the risk of having it damaged? Erin won the car on the TV show The Price is Right. When she returned to Louisiana with it, she found out that she owed thousands of dollars in taxes on the prize. So she either had to sell it or find a way to pay the tax bill.
“For risks, there are rewards. So if you’re tough and you’re looking to hustle an asset of yours, there’s definitely money to be made,” she says.
To see our interview with Erin, click on the video button at the top of this page!