I'm Considering Listing My Car on Turo or Uber or Any Other Recommendation?

Lolee on 26/12/2023 - 13:24
Last edited 27/12/2023 - 17:16 by 1 other user

I'm based in Hobart and I work from home and I have a 2019 Mazda 3 that I only use once or twice a fortnight.

I have zero experience with making money through either Turo or Uber, but I'd like to take better advantage of my car since it's usually just sitting around, and I could do with the extra money.

I'd love to get your opinions on which option is more feasible (if any) or any other platforms you can suggest.

Thank you!

Update - Thanks everyone who provided constructive feedback. Based on these comments I definitely will not proceed down this path. Appreciate you taking the time to comment :-)

Automotive Car Mazda

Comments

  • Sye on 26/12/2023 - 13:30
    +14

    I would be worried someone might leave a used lip balm or used jar of vaseline in the centre console.

    • Gunnar on 26/12/2023 - 14:06
      +1

      I wonder if the OP has a check engine light on in his Mazda?

    • MS Paint on 26/12/2023 - 14:30
      +2

      2019 Mazda

      At least we know the tyres are 17 years old.

  • Euphemistic on 26/12/2023 - 13:43
    +1

    Sell your car and take Uber instead.

    • Jaduqimon on 26/12/2023 - 13:57
      +6

      sell the car and rent a car on Uber or Turo instead

  • SBOB on 26/12/2023 - 13:56
    +1

    and I could do with the extra money.

    Could you also do with the increased wear and tear, insurance costs, potential damage, and depreciation?

  • bobbified on 26/12/2023 - 16:32
    +2

    I just wouldn't trust others with my car.

    If you do decide to go down that path, you can claim the vehicle expenses as a tax deduction (limited since it's a used car that's not worth much) but you also have to pay tax on whatever money you get from renting it out. Whether it's worth it or not may depend on your own marginal tax rate - up to 47.5%.

  • rockman117 on 26/12/2023 - 17:12

    I've thought about it as well. However, there are reports of thieves who rent cars, copy the keys and then steal them during the night. I'm unsure how car-sharing platforms could overcome this.

  • R1ngSt1nger on 26/12/2023 - 18:00
    +3

    I rent my second car on Turo.

    If I was even remotely attached to the car, I wouldn't do it, as I'd be stressed all the time. But this is our runaround (Ford Fiesta) and sits on the street most of the time.

    In 2023, we made around $3,000 of income (after platform fees, before tax). Has paid for its rego and maintenance for the year with a little bit of change left over.

    I would say go for it if you're not attached to the car and aren't worried if it gets mis-treated.

    The only issue I've had with around 20 guests, is one of them smoked inside. But I put a smoking claim in with Turo and they paid me out $150 which more than covered the interior detail.

    I'm on the 35% plan (yep, Turo take 35%), which means if the car goes missing or there's even a scratch, I can claim it and not pay any excess to have the problem fixed.
    There are cheaper plans, but there's a risk associated with having to pay an excess. The 35 plan is worry-free.

    Good luck.

  • p1 ama on 26/12/2023 - 18:32
    +6

    2019 Mazda 3 that I only use once or twice a fortnight

    If you have a car that you use once or twice a fortnight, then you don't need a car. If you use it 1.5 times (on average) per fortnight, that means you take around 35 trips per year.

    General expenses for owning the car would be around $3,000 for rego, insurance, servicing and maintenance. You'd probably copping around $2,000 per year of depreciation for a newish car. Let's say $5,000 per year at this stage (could be more or less, but ballpark).

    You're paying $142 + petrol per trip. You need to sell your car. For short trips, just get an Uber, take the bus, or get a scooter or bicycle or whatever. If you want to go on roadtrips, then just hire a car for a few days. You're literally flushing money down the drain. Even if you spent $100 per trip on Uber (which you won't because that's a ~45min - 1 hr trip), you're still better off.

  • brad1-8tsi on 27/12/2023 - 11:11

    I live in an inner city area that has a high usage rate of Car Next Door, UberShare, Go Get, etc.

    My observation is that the bulk of users aren't great drivers. I assume due to lack of practice or unfamiliarity with the controls and dynamics of the vehicle.

  • bigbadaboom on 28/05/2024 - 13:50
    -1

    can't speak for Turo, but Uber Car Share went downhill over the past year. In this economy, people are so broke that there are too many cars on the platform. Some for as low as $5 per hour and a bit more per KM, most are there for some sort of 'sign up bonus'. You can't compete with that or make any money. In addition, Uber rides have gotten cheaper as there are way more drivers around (bad economy). So that eats into some bookings too. I have just removed my car off the platform after 4 years on it.

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