The answer to this question depends on a number of variables, including the model of your Tesla, where you live, and how popular electric cars are there. However, the Turo website claims that Tesla owners may anticipate to make an average of $1,200 per month from renting out their car. This sum is based on the roughly $150 daily average rental cost for a Tesla listed on Turo.
This is, of course, only an average; some Tesla owners might be able to make more money by renting out their car during busy times or in locations where there is a significant demand for electric vehicles. On the other hand, some owners might have trouble finding tenants if they reside in a region where there isn’t much of a market for electric cars or if their Tesla is an older or less well-liked model.
So, is earning money by renting out your Tesla on Turo a wise idea? Your own financial status and willingness to accept the hazards involved in renting out your car will determine the answer to this query. Although renting out your Tesla through Turo can be a terrific method to offset ownership costs, there are some possible drawbacks, including wear and tear on your car, the threat of theft or damage, and the potential for dealing with uncooperative renters.
You will require the relevant licenses and permits to run a rental car business in your region if you choose to hire out your Tesla through Turo. For Jamaican residents, this entails obtaining a JUTA license. You must get in touch with the Jamaica Union of Travelers Association and complete their application process in order to obtain a JUTA license there. The usual requirements for this are a current driver’s license, proof of insurance, and clearance of a background investigation.
Last but not least, you must complete a training course and pay a membership fee to join JUTA. You will then have access to JUTA’s network of rental car companies and be able to use their marketing and advertising tools to sell your Tesla rental company.
In conclusion, renting out your Tesla on Turo can be a profitable way to offset ownership costs, but there are hazards and difficulties involved. If you choose to go forward with this option, be sure to conduct the necessary research and take the necessary actions to acquire the relevant licenses and permits in your region.