Uber’s New Car Rental Business Won’t Destroy Turo… (Yet)

Uber entered into the car-leasing game

Photo by Austin Distel on Unsplash

Uber snaked its way into the car rental industry, but there’s a catch.

If you complete 70 rides a month, and give Uber a $185.00 security deposit, you could be leasing a car this week.

While Uber’s entrance into the car rental space will undoubtedly leave an indelible mark on the industry, Turo, the car rental startup that is competing with Hertz and Enterprise, still has room to grow (or be acquired). Turo competes with Uber on several fronts.

Turo Competes with Uber

Photo by Alex Jumper on Unsplash

✔ Turo does not require a massive deposit

✔ Turo offers quick on-the-go leases

✔ YOU don’t have to drive for Turo to rent a car

✔ Turo lets you rent lamobs and other luxury vehicle rentals

(Rent a car for the weekend on Turo and use my referral code to get a $25 gift card) 👉👉 https://turo.com/c/andrewm3428

The Most Noble Part of Uber’s Car Rental Service

Perhaps the best part of Uber’s entry into the car rental business is that they are making it accessible for low-income individuals to get a car without taking a massive loan. Individuals in this category are often target for car loans with high interest rates. Uber is simply offering a solution which does not require any sort of loan commitment. To be fair, you have to work in-trade.

Turo does not require the same, but they are not specifcally marketing toward low income indivudals. Turo is more so in the business of gigging out cars for short-term rentals. They are almost sprinting the first split of a marathon in which Uber will probably win. However, Turo could be an interesting acquisition prospect in Uber’s inevitable growth into the future.

Lyft might even be interested, too.

While Uber’s car rental service will provide vehicle access to low-income individuals, the program is yet to be rolled out on a full national level. The cities where it is located mostly have extensive transportation infastructure. However, a program like this is needed in more rural locations or second tier cities where public transportation is less accessible.

Since many of those places are still waiting for features like Uber Pool, we might be waiting a LONG time for this. Like we said, Uber is running a marathon, but it’s more so a personal best record type of runner than someone that will try and win their division.

Turo still has room left to fight. The prospects are especially bright if it’s open to an acquisition.

Drive with Uber 👉 https://partners.uber.com/i/n4qu6t5bue

Drew Mailen is the founder of BountyBase and TheBlockchainWriter.com. He enjoys cooking, traveling, and surrounding himself with people smarter than he is. He takes pride in direct messaging strangers on LinkedIn. He loves his grandma, an exercise enthusiast named Grace that still does daily gym workouts at 84 years old. You can find more about his work here: TheBlockchainWriter.com