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Car B&B: App lets Iowans rent cars for cash

Car B&B: App lets Iowans rent cars for cash


KENDALL PORTH IS AN ISU CIVIL ENGINEERING STUDENT WITH A MASERATI, AND TWO BMW’S. SO YOU MIGHT WONDER, HOW DOES A COLLEGE STUDENT DO IT? IT IS PRETTY SIMPLE, HE RENTS THEM OUT TO MAKE MONEY.>>IS AN OPPORTUNITY FOR ME ANYWAY, TO JUSTIFY GETTING NICER CARS AND THEN JUST SHARE THEM WITH OTHER PEOPLE. TODD: HE WORKS WITH A NEW COMPANY CALLED TURO. IT IS A LOT LIKE AIRBNB BUT , INSTEAD OF RENTING OUT A ROOM OR APARTMENT, TURO CONNECTS CAR OWNERS WITH PEOPLE WHO NEED A RENTAL CAR.>>IT WAS RIGHT AROUND 50,000 AND IT WAS SHIPPED UP FROM TEXAS. TODD: PORTH LIKES HIGHER END CARS LIKE THIS MASERATI GHIBLI, BUT TURO OFFERS ALL KINDS OF CARS AND PRICE LEVELS. HE CONNECTS WITH CUSTOMERS ON THE APP AND USUALLY MEETS THEM AT THE AIRPORT TO DELIVER ONE OF HIS CARS. CUSTOMERS DROP IT OFF AT THE AIRPORT PARKING LOT WHEN THEY’RE FINISHED.>>IT’S SEAMLESS, YOU DON’T HAVE TO DO ANYTHING, IT’S ALL THROUGH THE PHONE CHECK THE CAR IN AND CHECK THE CAR OUT SO YOU DON’T HAVE TO BE IN LINE AT A COUNTER OR ANYTHING LIKE THAT. IT WOULD BE JUST ABOUT IMPOSSIBLE TO FIND A MASERATI AT YOUR LOCAL HERTZ, BUT YOU CAN RENT A THIS ON FOR ABOUT $100 A DAY. TURO TAKES 25% OF THE RENTAL COST, PORTH KEEPS THE REST. AND HE’S NOT NERVOUS ABOUT LETTING STRANGERS DRIV HIS PRIZED SPORTS CARS THANKS TO THE WEB SITES RATING SYSTEM.>>YOU HAVE A PRETTY GOOD SENSE OF WHO SOMEONE IS BASED ON THOSE RATINGS, AND TURO ALSO OFFERS INSURANCE. TODD: AND WHEN THEY’RE NOT BEING RENTED?

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