Car sharing offers extra income, easy side hustle

U.S. & World

(NBC) — There’s some new data that shows nearly half of American workers are earning extra income on the side. That includes renting an expensive part of your life when you’re not using it.

Either because they want or need the extra money, a new BankRate.com survey finds nearly five out of ten workers hold down another job or have a side hustle to earn extra cash.

And what’s quickly becoming a popular side hustle is what’s called peer-to-peer car sharing.

“People who own cars and who don’t really use them on a regular bases to be able to share them with others and earn money with their cars,” said Andre Haddad, CEO of Turo.

Andre Haddad is CEO of the car sharing company, Turo.

It’s been around about a decade. It currently has some 300 thousand people listing their cars for rent.

“Earning around 500 dollars a month from sharing their cars with other neighbors or travelers who are visiting their town,” Haddad said.

“So when I see a good side hustle, it’s a no brainer for me,” Turo user Trace Manning said.

Manning signed up and listed his Escalade with Turo, to supplement the income he gets from his full-time job.

“Turo will give you an estimated trip rate and when I saw it was over $150 a day, I was like why not,” Manning said.

Turo’s cut includes insurance for both owner and renter.

And like other car-sharing companies, offers dream car experiences for those who just want to ride in style.

Car-sharing companies are facing major resistance from the $30-billion-a-year car rental industry.

In fact, in 34 state legislatures, lawmakers are considering bills that would require companies like Turo to play by the rules established for rental car companies, paying the same taxes and following the same safety requirements.

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