Enter the total cost of the car loan and maintenance per month ($), the average Turo rental rate ($/day), and the average number of days rented per month (days) into the calculator to determine the Turo Profit.
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Turo Profit Formula
The following formula is used to calculate the Turo Profit.
Pt = RR * #D – TC
- Where Pt is the Turo Profit ($/month)
- TC is the total cost of car loan and maintenance per month ($)
- RR is the average Turo rental rate ($/day)
- #D is the average number of days rented per month (days)
How to Calculate Turo Profit?
The following example problems outline how to calculate Turo Profit.
Example Problem #1
- First, determine the total cost of car loan and maintenance per month ($). In this example, the total cost of car loan and maintenance per month ($) is given as 1000 .
- Next, determine the average Turo rental rate ($/day). For this problem, the average Turo rental rate ($/day) is given as 150 .
- Next, determine the average number of days rented per month. In this case, the average number of days rented per month is found to be 10.
- Finally, calculate the Turo Profit using the formula above:
Pt = RR * #D – TC
Inserting the values from above yields:
Pt = 150 * 10 – 1000 = 500 ($/month)
Example Problem #2
The variables needed for this problem are provided below:
total cost of car loan and maintenance per month ($) = 750
average Turo rental rate ($/day) = 100
average number of days rented per month = 20
Entering these values and solving gives:
Pt = 100 * 20 – 750 = 1250 ($/month)
