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Can you Turo a leased car?
I just learned that I can supplement my income by putting a car on Turo, but I don’t know if that would work since I’m financing my vehicle. Is it possible to put a leased car on Turo?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Yes: You can Turo a
leased car
so long as your lease agreement doesn’t have any stipulations prohibiting it. But you may run into the following obstacles:- Mileage: Most lease agreements include a mileage limit, but you won’t be able to control how much mileage other Turo drivers put on your leased car. You’ll face fees and penalties if you exceed this allotted annual mileage.
- Insurance: Manycar insurancecompanies will drop you if you try to Turo your car—and if they allow you to keep your coverage, you'll likely see a sharp increase in your rates. This could pose a whole new set of challenges since you’re likelyrequired to maintain full coverageduring the entirety of your lease agreement.
The bottom line: Read through your lease agreement to find out how much mileage you have, and contact your insurance company to see how Turo will affect your policy. You may want to decide against Turo-ing your leased car if either of these poses any extreme restrictions.
View full answer
- Gregory R.
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