Turo\u00a0team members Marc and J\u00e9r\u00f4me were up to the challenge, and they found the cars and classes that give you the best return on your investment for your peer-to-peer car rental business.<\/p>\n
What vehicle type will earn you the most?<\/h3>\n
If you’re deciding on a style of car that will earn you back your investment the fastest when renting out on a peer-to-peer car rental marketplace, you might be surprised at which style of vehicle has the best average return on investment: minivans!<\/p>\n
The average yearly return for an active owner renting out a minivan<\/a> on a peer-to-peer marketplace<\/a> is 11% of the car\u2019s value, compared with the overall average of 5%. That means just by renting out your car on a peer-to-peer car rental marketplace<\/a> a few times a month, you could pay off the entire cost of your minivan in nine years or less. Some van owners did quite a bit better than that.<\/p>\n While they may not be the hottest ride for a date, minivans are in demand and, on a peer-to-peer car rental marketplace, quite a good value. So while they don\u2019t rock on the \u201ccool factor\u201d, they make a ton of economic sense.\u00a0<\/strong><\/p>\n Cars with the very best ROI are going to rely on two main factors: the cost of the car and how much it can be rented for.<\/p>\n For folks in the market for a newer car, we took a look at which new models offered the best return. Because newer cars are more expensive (relative to their rental rates), they require a longer time to pay off. The cars with the highest earning potential are the Buick Verano, Scion iQ, and BMW 4 Series. They earn back 13 to 17 percent of their value (based on Edmunds data) per year, assuming the cars are rented a few times a month.<\/p>\n Looking to get a used or slightly older car instead? Our top performing cars from an ROI standpoint are the Kia Spectra and Saturn S-Series. These cars typically earn back 33% of their value per year on Turo. That means you could pay off the entire cost of the car in three years! Beyond that, you are just raking in profits.<\/p>\n Up next are the Chrysler Town & Country and Dodge Caravan at 19% yearly repayment of vehicle market value, with a payback period of about five years.<\/p>\n Yes, this is just a starting point! For each car listed above, after taking out outliers, half of owners did better and half did worse. Want to be in the best half? Here are some tips to get you making the best possible return.<\/p>\n To determine the cost of a car, we used the Edmunds estimate. We only used car models with at least 20 cars listed on Turo\u00a0to eliminate any misleading or rare results and used the average revenue while eliminating any extreme outliers. When looking for the best new cars, we looked at the performance of cars from 2013 and 2014.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" The average active owner renting out their car on Turo\u00a0brings in an extra $300 per month in income. Depending on the type and make of the car being rented, many…<\/p>\n","protected":false},"author":58,"featured_media":573,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[72],"tags":[98,219],"class_list":["post-572","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insights","tag-owner-tips","tag-under-the-hood"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\tWhich new cars are best?<\/h3>\n
What about used cars?<\/h3>\n
Can you do even better?<\/h3>\n
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How did we measure which\u00a0cars are the best investments?<\/h3>\n