Platform launches monthly car booking option amid cost pressures

Car sharing platform Turo has introduced a new service offering Canadians an affordable, low-commitment alternative to traditional car ownership amid rising costs of vehicle ownership.

The option allows users to book vehicles for a month or longer, with the flexibility to extend or shorten reservations as needed. Pricing is shown upfront and includes costs typically associated with ownership, such as maintenance and depreciation. Customers can also pay in monthly installments.

The launch, according to the company, comes as more Canadians seek access to vehicles without the financial burden of ownership, driven by rising sticker prices, insurance premiums and repair costs. A recent Turo survey found that 44 per cent of Canadian car owners are interested in long-term access without owning a car.

Trips lasting three months or more are Turo’s fastest-growing segment this year, with triple-digit growth compared to last year.

“Canadians are rethinking what it means to ‘own’ a car,” said Bassem El-Rahimy, head of Turo Canada.

He noted that flexibility matters for people who can have unpredictable schedules or just want added convenience.

“In today’s economy, flexibility matters from those navigating job changes to remote workers relocating temporarily, to couples or retirees whose lifestyles are evolving,” El-Rahimy said. “People want access to a car when they need it, without the financial strain or long-term commitment that comes with ownership.”

The new features allow users to skip dealerships and book vehicles directly from their phones. Turo said the move supports its mission to make better use of the world’s 1.5 billion cars, which sit idle about 95 per cent of the time, rather than contributing to mass production.

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