Can You Use a Leased Car On Turo? (Things You Should Know)

If you’re looking for some extra income and have a nice car, you may be considering renting it out on Turo. While you can absolutely do this, there are a few things to keep in mind first.

You may be wondering if you could use a leased car on Turo. In this blog post, we will go over whether or not you can use a leased car on Turo along with some other factors you should consider before making this decision.

Answer To The Question Can You Use a Leased Car On Turo:

If you have a lease, you can indeed use your car on Turo. However, there are a few things you may need to take into consideration when it comes to this question Below we will go over each one.

Does Renting On Turo Violate Your Lease Agreement:

The first thing you need to consider is whether or not renting your car on Turo would violate your current lease agreement. If it does, then you unfortunately cannot use your leased car on Turo.

To find out if this is the case, you’ll want to read through your lease agreement carefully. In most cases, there will be language stating that you cannot use your car for commercial purposes. This means that if you’re planning on renting your car out frequently, it’s likely that you will be in violation of your lease agreement.

Even if there isn’t any specific language prohibiting the use of your car for commercial purposes, it’s still a good idea to check with your leasing company before signing up for Turo. This way, you can avoid any potential issues down the road.

Need To See How It Affects Your Insurance Rates:

The next thing you need to consider is how renting your car on Turo will affect your insurance rates. In most cases, your personal auto insurance policy will not cover you for any damages that occur while your car is being rented out.

This means that you’ll need to purchase a commercial auto insurance policy in order to be fully covered. These policies can be quite expensive, so you’ll need to factor that into your decision of whether or not to use your leased car on Turo.

The Mileage Of The Car

Granted both of the boxes above are checked. The next thing is mileage. If your car has over a certain mileage, you might not be able to use it on Turo.

Turo has a limit of 130,000 miles for all cars listed on the platform. So, if your leased car exceeds this amount, you unfortunately won’t be able to use it.

What Happens If You Violate Your Lease Agreement?

If you do decide to use your leased car on Turo and violate your lease agreement, there can be some serious consequences.

For starters, your leasing company could choose to terminate your lease agreement. This means that you would have to immediately stop renting out your car and return it to the dealership. In addition, you would likely be responsible for any penalties or fees stated in your lease agreement.

On top of all that, using your leased car for commercial purposes could also damage your credit score. This is because most leases include a clause that prohibits the use of the car for business purposes. If you violate this clause, it could negatively impact your credit score.

So, while you can technically use a leased car on Turo, there are a few things you need to take into consideration first. Weigh the pros and cons carefully before making your decision.

What Are The Pros and Cons Of Turo In General?

Whether you’re using a leased car or not, there are some pros and cons of Turo that you should be aware of. Below, we’ll go over some of the most notable ones.

Pros:

You can make money by renting out your car
It’s a great way to offset the cost of owning a car
You can choose your own rental rates
There’s no long-term commitment

Cons:

You could violate your lease agreement if you’re not careful
It might be difficult to find renters depending on your location
You’ll need to purchase a commercial auto insurance policy
Your car could get damaged while it’s being rented out.

Should You Rent Out a Leased Vehicle On Turo?

It seems as if there’s more to worry about than to not worry about if you choose to use Turo with a leased vehicle. However, as long as you’re aware of the risks and are comfortable with them, then it could be a great way to make some extra money.

Just remember to do your research beforehand and to get everything in writing from both Turo and your leasing company before making your decision.

Conclusion

So, those are some of the things you need to keep in mind if you’re considering using your leased car on Turo. Be sure to do your research and weigh the pros and cons carefully before making your decision. Thanks for reading!

If we missed anything or if you have any further questions, please let us know in the comments below.

Have you used Turo before? What was your experience like?

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Can You Use a Leased Car On Turo? (Things You Should Know)