Pair pay for Teslas by renting them out

A couple paid for two Teslas by renting them out using an app.

Luxury car sharing service Turo allowed Chad and Min Hurin to pay for their Model S and Model X with money to spare.

Damage is covered by insurance, and high mileage is a concern, but they see it as the cost of ownership, Business Insider Australia reports.

Chad Hurin of San Diego, California, bought a $US68,000 Model S and his wife Min got a US$93,500 Model X 90D.

Turo rents out luxury cars in 5000 cities, including San Diego, prices ranging from US$29 to US$200 daily, depending on the brand.

The Hurins started renting out the Model S in February and the Model X in May. They earned US$25,000 through the service, not accounting for Turo’s fees.

But it was enough to pay off the Hurins’ monthly car loan payments and insurance, with some left over.

About 52% of Turo renters use the service to pay off car loans. Most Model S owners can pay their monthly loan after listing the Tesla for just seven days on Turo.

A software developer, Chad Hurin started researching self-driving cars online and saw Tesla was already selling cars with Autopilot.

Once he learned more about the company, Hurin started following Tesla chief executive officer Elon Musk on Twitter and bought Ashlee Vance’s biography on Musk.

Most Tesla listings on Turo in San Diego go for $US200 a day, but the Hurins say they wanted to go below the market price to get some positive reviews. They initially listed the Model S for US$110 a day, but have since raised it to US$127. They charge US$135 for the Model X.

Turo users can earn up to 90% of the total rental price after the service takes its cut. The Hurins, however, earn 60% because they opt to pay for Turo’s premium insurance package, which covers small scratches, food stains, and cigarette smoke.

Chad Hurin says it was the right choice as both cars have suffered damages 10 times, but nothing serious.

The Hurins give renters their referral code to buy Tesla vehicles — and earn rewards from the company whenever their code is used to buy a Tesla, so far 11 times.

Tesla gave them a discount on solar panels, and they’ll receive two Powerwall batteries signed by Musk and an invite to Tesla’s Semi truck unveiling in November.