So you heard about Turo, and you’re thinking about renting out your car on the site? But before you do, you probably want to know how Turo works and how much it charges.
The most intriguing car-sharing option is Turo, a San Francisco-based company that has emerged as a leader in the game.
Turo is an Airbnb on wheels.
Keep reading to find out everything you need to know about Turo.
Does Turo Charge Right Away?
Yes, Turo does charge right away.
For credit card, Debit card, or Revolut;
If you are using a credit card, Debit card, or Revolut, Turo will charge you a $1 payment authorization when you submit your trip request. If the host accepts your request, your $1 will be refunded and your account will be charged for the full amount.
If the host declines, your $1 will be refunded. This refund is released within one business day and may take longer depending on your bank.
For Apple pay and Google pay;
Apart from credit and debit cards, Turo also accepts Apple pay and Google pay. If you are using these two, Turo will authorize the full amount when you submit the trip request since these payment methods don’t allow partial authorizations.
If the host declines the request, you will be refunded. You should note that Apple pay and Google pay can take up to 30 days to refund.
For “Book Instantly” trips;
For “Book Instantly” trips, Turo will authorize the full trip cost when you book. These trips are processed this way regardless of the payment type.
For “Book Instantly” trips, your payment method on file will be charged 40 hours after the authorization or 1 hour before the trip starts, whichever comes first.
To cover the costs of fuel replacement, distance overages, tickets, and tolls, the host can send a reimbursement invoice after the trip.
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Does Turo take Security deposits?
Yes, Turo charges a security deposit in all cases except for commercial hosts. For those guests under the age of 30, Turo will charge them a $750 (CA$1500 for trips in Canada) deposit to book a Deluxe Class car(Vehicles in the US are valued from $55K to $85K).
All the guests who want to book a Super Deluxe Class car (valued above $85K) will be charged a $750 (CA$1500 for trips in Canada) security deposit.
Turo may also charge you a $200 deposit if their security system chooses your trip for a deposit based on the trip’s details and other factors. In all cases, you will be charged a security deposit which neither Turo nor the Host can waive it.
The deposit amount is displayed as a separate line item on the checkout page. It is also processed as a separate transaction.
If you have personal insurance, you can receive a $250 (CA$500 for trips in Canada) discount on your deposit by filling in the insurance details. This information should be entered at the time of booking. It cannot be applied once you have submitted your trip request.
For trips booked with a commercial host, Turo doesn’t charge a security deposit. Commercial hosts are independent, rental car company hosts who list their vehicles on Turo’s platform.
In the United Kingdom, Turo will charge guests a £500 deposit to book a Deluxe Class car and £1,000 to book a Super Deluxe car. Guests who book a trip to travel in the EU will be charged a £1,000 deposit.
Also, there will be a £250 deposit charge if their security system chooses your trip for a deposit based on the trip’s details and other factors.
In all cases, you will be charged a security deposit which neither Turo nor the Host can waive it.
When will Turo Refund my Security Deposit?
Your security deposit will be automatically refunded 80 hours after your trip ends.
However, there are a few exceptions;
- Your host sends you a post-trip reimbursement invoice and you accept the charges.
Turo will pay the invoice with funds from your deposit and refund you any balance. If you disagree with the charges, your host escalates it, and they find you’re liable for the charge, they will pay the invoice with funds from your deposit and refund you any balance. If they find that you’re not liable for the charge, they will refund the deposit in full.
- Your host files a damage claim and we find you’re liable for claim costs.
They will use your deposit to cover the damage and refund you any balance. If they find that the claim is ineligible or that the host is responsible, your deposit will be refunded in full.
- You require roadside assistance in the EU on a trip booked with a peer-to-peer host in the UK and we find you to be at fault.
They will pay the roadside service charges with funds from your deposit and refund any balance.
“Once we initiate your refund, your bank or credit card company will process it according to their own timeline. Refunds to debit card refunds (including Revolut) typically take 10 business days, Refunds to credit cards typically take three to five business days. Refunds to Apple Pay and Google Pay may take up to 30 days.”Turo
In conclusion, Turo does charge right away for its services. However, the company is transparent about its pricing and offers a variety of payment options to suit different budgets. Overall, Turo is a reliable and convenient option for renting a car.
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