[aerostar]

Originally Posted by MPBK

I get the model of recoup-ing some money while the car is sitting in the garage, doing nothing.
But to do this on a full time... buying a brand new car just to rent it out and have cash positive flow... if it could be done, it is being done by Hertz and friends, don't you think? Or better, Turo would do it themselves. Why let you get a piece of their pie?
What makes you be able to do better than Hertz, with their economy of volume, versus your 1 car? If you think you have cash positive flow, likely you forgot to include the incidental costs, like repair/maintenance.
People suck and will destroy your car. Have you accounted for that?

Turo made the app and are utilized as the marketing tool.

This way they reduce their exposure of having to have employees to take care of the cars as well as dealing w/ purchasing and selling of vehicles as well.

They still make a profit while you get to as well.

If you do some research Turo seems to be profitable depending on what region you're in. I'm just asking around to see if anyone has had positive experiences before I get involved in it.

[MOBF10]

I actually did Turo a few months back when I bought my f10. I still had my other car and no longer drove it so I put it up on Turo since I still had a payment on it. It was a 2012 Mazdaspeed 3. Completely stock in great shape. I made about $500-$600 within the first month and a half. I ended up selling the car shortly after that.

[F30dud]

depends on cars, i have a buddy, who does this with apartments in Downtown LA, he makes over a mill im sure every year from apartments, however he had a bunch of cars on turo, s550s, zo6, jaguars, plus some normal cars, and now hes starting to put them on swap a lease. From his side, its a headache, cars are always dinged, hit, not taken care of, he makes lots of money from fees such as cleaning, extra miles, but i dont know for the average person if its profitable unless you have a nice car.

Something that attracts no one wants a Kia Optima really, he has one of those, and ifinity q50s that sit around. The convertible rent out, zo6 rents out all the time, he also has an old m3 that sits there, not every car works..

This is in downtown area LA, as well as hollywood areas, which are more popular than some cities..

[neliconcept]

If my X5 doesn't sell, I might do it for a little bit to pay for it sitting.

edit: nevermind, apparently I have too high of mileage..

[G35POPPEDMYCHERRY]

Originally Posted by aerostar

Don't really see how it's being a dick.

You would input your dates and submit and I would quickly reply w/ a no. Then you'd go and find a different car.

lololool

maybe ghosting will be thing of turo now. lmaoo. gotta love the internet

[Never_Enough]

Originally Posted by aerostar

Was a 2018 Kia Rio.

They priced it at $35 a day.

At that rate even with half booking I'd be beating the lease/finance payment by quite a margin.

If you never drive the car you don't even need to insure it since Turo provides insurance once it's in the renter's hands.

From what I understand most people re-sell the cars after 12-14 months.

If you have a financed or leased car you still need to insure it...

[Torgus]

Originally Posted by aerostar

If you never drive the car you don't even need to insure it since Turo provides insurance once it's in the renter's hands.

I guess that is ok if you pay cash. No one is going to loan you a car without proof of insurance. In my states you can't register the car without insurance(for a good reason) and if you don't pay your insurance they contact the DMV and you can be pulled over and your car impounded. They will also right then and there take your license plates.

It would worry me if any state allows you to drive on the streets with ZERO insurance.

As stated above if this method worked well, wouldn't the car rental companies or Turo have done it themselves? I can only see if for renting high end cars on vacation. Which is a very limited market.

I rent cars two to three times a month for work, I would never use Turo. Emerald Isle is where it's at.

Best of luck.

[jmg]

If I rented a Kia Rio, I'm driving the hell out of it. Say bye-bye to the tires!

[MPBK]

OP is quickly realizing that there is no positive cash flow in this.

Turo's model works by tapping into your depreciating asset sitting in your garage. You'll accept whatever they pay you because it's better than nothing.
But buying a brand new car just for Turo... like I said, if it worked, Turo would do it themselves.

[aerostar]

Originally Posted by MPBK

OP is quickly realizing that there is no positive cash flow in this.

Turo's model works by tapping into your depreciating asset sitting in your garage. You'll accept whatever they pay you because it's better than nothing.
But buying a brand new car just for Turo... like I said, if it worked, Turo would do it themselves.

I think there's still money in it.

I did some number crunching and I may just be a used car (~7-8k) just to test the waters.

Like I said, there are plenty of reports of people making money, it's just that you have to be dedicated and know how to work the system. Most people who complain that Turo won't cover damages done to the vehicle during a rental did not have sufficient documentation like extensive pre-trip photos showing condition prior to the rental.

[damageprone]

Originally Posted by aerostar

I think there's still money in it.

I did some number crunching and I may just be a used car (~7-8k) just to test the waters.

Like I said, there are plenty of reports of people making money, it's just that you have to be dedicated and know how to work the system. Most people who complain that Turo won't cover damages done to the vehicle during a rental did not have sufficient documentation like extensive pre-trip photos showing condition prior to the rental.

I thought about getting a fun used car for personal use to perhaps throw on Turo but I wouldn't have the time for drop offs after speaking with my friend. There is money in it if you can make it work and find a car at the right price point.

[Torgus]

Originally Posted by aerostar

I think there's still money in it.

I did some number crunching and I may just be a used car (~7-8k) just to test the waters.

Like I said, there are plenty of reports of people making money, it's just that you have to be dedicated and know how to work the system. Most people who complain that Turo won't cover damages done to the vehicle during a rental did not have sufficient documentation like extensive pre-trip photos showing condition prior to the rental.

Can you share your numbers?

Buy a car for 8k + tax + tag + title fees. Than insure it for a full year up front. That in total will be around 10k out of pocket right? Maybe a tad less depending on your state and what insurance you go with aka not full coverage.

How much can you make off Turo realistically with an 8k car in a year? How many years/months until you make a profit?

[tdott]

Originally Posted by aerostar

I did some number crunching and I may just be a used car (~7-8k) just to test the waters.

Keep in mind the Turo requirements, and that doesn't leave many cars that people will want to rent in that range.

The main ones are: Be no more than 12 years old & Less than 130k miles.

[x3sm]

What about buying a used super-car i.e Audi R8 and renting it out on Turo?

[aerostar]

Originally Posted by tdott

Keep in mind the Turo requirements, and that doesn't leave many cars that people will want to rent in that range.

The main ones are: Be no more than 12 years old & Less than 130k miles.

You can list a car at 129k miles.

Once it's listed the mileage doesn't matter afterwards.

[9krpmrx8]

[damageprone]

I believe that was braylark. I'm sure he can chime in on how profitable that was...

[The0pportunist]

Originally Posted by FC4

Are you really that desperate for an extra $500 a month?

Heard of scaling ?

[damageprone]

I've been subscribed to this channel on Youtube for awhile just for the sheer curiosity of Turo and she makes out pretty well. She has a fleet of Corvettes, etc. in Orange County, CA and seems to be doing this exclusively.

She does a pretty good job explaining how to do "well." She's relatively small time but it's good because you don't have to sift through 100 different videos. It also helps that almost all the scenarios have happened to her yet she still does it and she explains the ins and outs.

https://www.youtube.com/channel/UCDJ...kO23Z2A/videos

[hellrotm]

Originally Posted by aerostar

The Kia would be testing the waters.

I'd eventually expand into a fleet.

All the research I've done points to that you need more expensive vehicles as they make a *lot* more income.

My buddy has a small fleet of mini vans he rents on Turo. They seem to be popular, guess people need more room to haul equipment and/or people.

[Torgus]

How do they verify the mileage anyways. It would be easy enough to PS it.

[Shadycrew31]

I have never found Turo to be cheaper than rental places. No idea why people use it. Except to rent nice cars but that just seems silly like renting a tux. Either buy the tux, if you cant afford it or have no use for it buy a nice suit.