I’ve been with turo for a month now and I cleared $900 with a 2014 Mazda cx5. I will say this though. These renters will beat your car into the ground. It seems like every other renter some kind of damage occurs. I’ve replaced a rim, windshield, repaired a dent on the roof, and had to replace the plastic that goes around the wheel well. Fortunately I was able to get the renters to pay me directly without using turos protection plan but I had to run around like a mad man to get all these repairs done before the next customer. I hope this was just a bad month and these issues will become rare. If not, then I feel the $900 is not worth it in my opinion. Also get a gps for the vehicle. In the event a guest blows your engine or transmission, having gps logs showing they were reckless driving will save you when you file a claim.
Just want to point out Turo is a seasonal business, summer by far is the busiest. Rental slows down up to 70% during non summer seasons depending where you are located. For a month of June, I'd say this car did below avg. No hate here, just trying to help adding more info.
In Salt Lake City it’s better business in the winter so not always a summer business it’s very location dependent. Probably some markets that are great year round
A lot of it has to do with old vehicles not being kept up with and the other part is random. Can’t control it - that’s why I stress transitioning to private rentals if you can
You forgot depreciation, oil changes, and other maintenance cost items. Older cars are more likely to break. If one thing goes, like spark plugs or injectors, then that will seriously cut into your profit. Also VW isn't the most reliable brand so chances of the previous thing happening is higher.
Yes I agree about oil changes and services etc, but VW not being reliable? No way, Vag group are one of the best for reliability. I am a mechanic of 30 years and have to honestly say I’ve never really ran into many problems with them
@@Dan-78 Man come on, look at the passat, it always rusts by the boot regardsless of the year. VAG in general just breaks to my experience. VAG reliability is certainly under that of Merc, Lexus, Toyota, might even wanna put Ford ahead of VAG.
Future expenses are not just brakes and tires. If you say that to make you feel good go ahead. But there is more to car maintenance add another 1k a year and youll be closer to the true cost.
You’re out of your mind…You should only need new breaks & tires every 3 years and an oil change every 6 months, so the average yearly maintenance budget should only be a few hundred bucks.
I appreciate the video and also the comments asking about why regular maint like oil changes wasn’t discussed. (Alex says he talked about that but maybe he edited it out because I couldn’t find it) I have two cars on the platform, bought them both with cash on a home equity loan. I spent $21K total for the two. From there a spent an additional $1000 on the Subaru for an oil change, ball joint replacement, alignment and new suspension bushings. I then spent $1K on a Drone Mobile GPS system which gives me hard wired tracking and some vehicle diagnostics, plus a key locker and key pad so I don’t have to use a lockbox and attract criminals in the public parking lot I store the car at. The VW I spent $3500 on a windshield, a sunroof repair, trans fluid change, coolant change, oil change, spark plug change, brake fluid change and two tires. I’m on the 75 plan as shown in the video so Turo keeps 25% of the 33-45/day that the cars get rented for. That means I keep $26-34/day. My best month is this month of Sept, I’ll bring home in gross profit just shy of $1K total for both cars. This is the first month I’ve had them both listed, the Subaru was on the sidelines last month for a $5400 transmission replacement. From the $1K for this month our CPA recommends we put away 25% for taxes, so we’re down to $750. $89 x2 for ABI insurance and we’re now at $572. XM subscriptions $6 x 2 and we’re at $560. Car wash subscription (a lifesaver with their moist towels) $55 total for the two cars, so we’re now at $505. ABI requires a tracker, I use OneStep GPS, I haven’t gotten the second one yet but the Subaru’s is $15 ish/mo - $490. I’ve been to the airport 6x this month, two of those required Uber, the others I used light rail @ $2.50 ea so $10 total. Uber x 2 totals $80. Now we’re at $400. The min payments on the CC’s, one personal card with the $5400 from the transmission at $125/mo, and the business card $110/mo and we’re down to $165. To get the car out of the airport after rentals that drop off there has been $10 for each, which I think is 4 this month. Down to $125. So two cars with $10K of debt in Salt Lake City make $125 total after expenses. I need to buy snow tires for both to run them in the winter, that’s another $600-1K which as you can tell, would take 6-10 months to cover. Then there are oil changes, $100 ish for the Subaru every 6K miles, $100 ish for the VW every 10K mi. The Subaru just had its 120K service for $465 because 1/2 is the items were done recently according to carfax. Im totally bummed but I’m going to sell the Subaru to pay the debt off. That should allow the VW to clear about $200/mo after monthly expenses…but Maintenace alone (oil changes, tires, scheduled services) will eat most of that. It will be interesting to see how bad the taxes are, if it’s the full 25% our CPA recommended or not. I hope that helps. Oh, and I choose to do all my car maint at the dealer or factory specialist shops because I fear something happening and it coming back on me that the maint was done incorrectly. Also, ABI sucks…their coverage limits are terrible, the collision wouldn’t cover even a portion of the cost if you hit a newer car. The liability is also really low. Praying I never cause an accident…by accident.
All those expenses you're describing offset your income. You only need to withold taxes for the 'profit'. Check with your CPA again and be sure he/she understands both your revenue AND your expenses. 25% is too high given the expenses you're describing.
@@ericwong3868 75 pictures are rookie numbers. I’m usually at 140. You learn as you get more renters that you have to be super detailed in on what you take pictures of. I had a guest burn a hole a size of a quarter under my seat on the floor. Well I didn’t take a picture of under the seat so I wasn’t able to file a claim. I’m going on 2 months soon with turo and to be honest I lost the drive to buy more cars. Dealing with scumbag renters which I feel that’s all that Turo attracts doesn’t seem worth it mentally.
@@daytrader1268 Is it really that bad with renters? I use Turo frequently when I am in Florida(like to drive different cars) and I do not beat the cars up. I am older and have respect for someone's property, so maybe that is the difference? The reason why I am asking, I am on the fence to start with Turo, but these comments make me hesitate. I also don't want a bad review from the owner, so I can keep renting.
love the video bro. Do you think you can make another video or response going in depth towards like how much miles the car puts on in an average month such as this one aswell as profit margins for specific cars such as if its a sedan, suv, truck, van, etc? if not i totally understand but yeah great video.
There are calculators that figure out based on the exact car model and year what your maintenance will be - oil, filters, brakes, tires, engine, etc... You should use that to figure out the costs. Also pricing it per the day isn't good, $30 per day is upwards of 1680 miles at 70 miles an hour average ( some places that is the limit, other places it is 85 top limit so the average should be lower ). If your car maintenance costs are $0.50 per mile, that is an $840 expense on wear items for $33 in your pocket.
600 to do your brakes? Some shops will definitely charge you that kind of price but it would pay off to learn to do it yourself, if you can learn to do basic maintenance like air filters, oil changes, and brakes and rotors you can minimize your expenses and maximize profit
Sorry for the basic questions: Do you leave the lock box in the car and leave the car unlocked? Did the renter meet you at your place? How do you handle leaving cars at the airport?
You can usually leave your car at a safe public location for contactless pickup, and for the lock box, most of them are held up by the window rolled up and the car remains locked.
Man I’m in a market where 3 ppl stay booked. And they keep adding another car to there fleet every 6 months, I’m on a beach and it was 74 degrees this Christmas. I’m bout to try my luck and put 3 cash cars out. Wish me luck.
I don't wash my cars anymore unless they are really dirty. I just spray it down with a water hose, vacuum the inside and clean the windows. It's a big savings on car washes over the course of the year.
Your video is excellent. It shows the handle the business side profit and loss for the car rental. I appreciate the info as I plan to start my Turo next month
Where do you park all of your cars in your fleet? If you only have one car that you’re renting out, does it make sense to offer the option of leaving the car at the airport or a certain destination or have you found it easier to just leave the car at your house and make the renter come pick it up?
Whatever NET profit you make in the next year or two with this car, it will all go towards huge maintenance issues with this car. There’s a reason these are 5k cars and sold before the dreaded 100k miles when they really start having big issues.
Cool basic video to get started -- - but I think your leaving a bunch of expenses out - GPS, Filling up the gas, car registration, inspections, oil changes - not even counting if the car needs to be fixed up before going on a trip. outside of that cool video.
@@Jetstreamhustlathe whole video said how much did he make gross lol not what's self explanatory. You cant be defending him for not putting all the expenses he will incur and call that PROFIT...🎉
@@smarsmar800 first off you shouldn’t need most of that up front and Im not defending anyone I never once said his name all I said was most of the extra shit you don’t need to start out lock box, GPS,technically you don’t need it he took his profits and bought a car that’s different if you were using your personal car all this would be taken care of anyway so I’m confused what’s with your smart ass comments it wasn’t that deep there’s bigger people than him on RUclips GO THERE
i agree the abuse, and miles rental cars take he needs to add like another $100 in maintenance per month with oil changes and tires , coolant flushes transmission oil , drive belts, suspension, battery, brakes, spark plugs/coil packs, and the major kicker depreciation of the cars value i think $100 a month plus what he said is an understatement.... or what he does is make an unsafe car available for rent to get his 5k back plus some and sell the car with no disclosure like a sleazy person. but idk he says he manages over 90 cars in his "fleet"
There’s definitely money in it, it’s just not as profitable as he claims in this video. I was a host, made most of my money off smoking fees, going over mileage, going over their return time, damages,etc. They charge the guest big fees for those things and it all goes to you, if you can do the work yourself you make profit. The bad thing about it is the work, you have to drive the cars around constantly to drop offs, gas stations, repair shops, it’s a ton of work! And parking them is a massive headache.
It’s all fun unit EPC and turbocharger will need to be serviced. I’m driving 2.5 no turbo SE with 80000 miles and it’s showing age, but I’m mechanic and owner since 20000 miles. Hope it will last, but 5000 grand is low price for this car.
I think it would make more sense to expense maintenance by mileage. So 10 cents per mile. Then you also have to devalue the car at 5 to 10 cents per mile. So for example of it was used for 1k miles then that is a $200 expense in maintenance and loss of value. But if it is driven for 500 miles it is $100 of maintenance and loss of value. A $5,000 car devalues slower so you can use a lower loss of value per mile but $15k cars would be about 10 cents.
No idea how it works in the US but here if you get a speeding ticket it gets sent through the post then you have 2 options, 1. You was the driver 2. It was another person What would happen if the "Other person" who is renting doesn't take accountability, is it on me as the owner of the car?
I have an old car that i sometimes use but need to upgrade as family got bigger and considering i work from home and wont use the vehicle much, i started thinking about listing the vehicle which will be an SUV but i am wondering the following: Would it be a good idea to list on or not? What 3 row SUV would be recommended? I am just trying to do this to make the vehicle pay itself. What would be your recommendation? I would appreciate any feedback, i am in Allentown, Pennsylvania.
Thanks a lot for this video. I’m doing Turo rn, but am kind of anxious since I am making payments on the car & wondering if I should keep it up, just because obviously if something bigger than maintenance happens I’ll just be stuck with the car
You have to take 75 minimum photos before and after each ride? On average how much time are you spending prepping, cleaning, and active time on your phone or laptop?
So you bought a 2015 Passat with no issues and under 130k miles for $5k that was road ready? i am guessing family buy or you got very lucky. Don't forget sales tax, registration, if it was a dealership a doc fee (don't think you can buy that car at a dealership for 5k though)
That is my issue but the lock box and just timing it out around your work schedule you can probably do it. i'm trying to figure that out too. or throw a family teenager or retired friend/family a couple bucks to help when you absolutely can't make it.
the other part of your question in the very beginning of the video he explains "Protection Plans" named by toro that take a % out of the rental price, per rental based on different coverage plans that he explains 0:54 time stamp
VIN (Vehicle Identification Number) its available at vehicle Registration Document. Please let me know if you need an accountant for your rental work? I have a 1 years work experience of managing turo trips
Ease of mind that you have one ready to go for multiple trips. An uber cost around $12 a trip for the most common places in my area. Thats also with Uber One. If you make two round trips from like your airbnb/hotel thats already around $48.
HIii! I love ur vid!!! I wanted to start a car rental business but I found there are more than 15 hosts in 1miles around...does that mean the market is saturated?... I'm super worried about financing a car but no one is booking it....
@@Alexprofits thank u!! im just super worried about how to make the renter choose my car while I have 0 trips out of many choices... but thank you so much!
Hello Alex, thank you for the great information video . I have a question in regards to if your putting cars in your name? or some type of LLC or business name. I am considering starting a turo business, but have concerns of liabilities if customer runs a red light and car is in my name, or if they get in a bad accident and car is in my name. All that goes back to owner on file with dmv, especially if they run a red light with camera pictures, 500 dollar ticket in California
so there would be a pickup location, like a parking lot. on the bike rack u could cable a lock box that releases the cord which would prevent the chance of an officer cutting it off since it would on be on there for a few minutes to maximum an hour.
I'm trying to buy an suv or minivan in Orlando to rent it out, but I'm worried that it will not be worth it.. Is anyone renting in Orlando? I believe a minivan would be much rentable due to family coming in for Disney/Universal parks...
My whole thing is it’s better to buy a 5k car and sell it for 6k in a day or more… I just bought a car for 1k and selling it for 3500 on Saturday 🤔 TURO that 😂
My guess is because most sates require you to have insurance on a vehicle to keep registration. if you don't have insurance you'll get a lap notice. The turo insurance is to cover what you don't have insured. I'm sure he has the most basic liability insurance he could get for a rental purpose to keep registration, and then the turo insurance insures that he doesn't have to pay a deductible with his original insurance, won't raise rates, and also would pay if the drivers at fault
you forgot to take off taxes, that will be as minimum 30% (and more) + car depreciation (130K mileage - present mileage = rest mileage of this car life in Turo) + your work time and as result you will have almost 0 profit ;) so do not waste your time and learn math better
Yeah it will qualify for sure. Create an account and list it before the end of the year. If you list it before the end of the year it will be grandfathered in. If you try to list it in 2025 however, it will be ineligible
@@Alexprofits I'm all signed up. There was a recall on the clutch my neighbors that never got fixed. Turo picked that up. But I'm all signed up and have the clutch recall repair scheduled for three days from now. I think a cheap, cute and economical car will do well in San Diego. It's a manual trans so that will limit some folks but others with the same car are doing well.
![Felix "Unfair" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/Oswujxm2Ag0/mqdefault.jpg)
I’ve been with turo for a month now and I cleared $900 with a 2014 Mazda cx5. I will say this though. These renters will beat your car into the ground. It seems like every other renter some kind of damage occurs. I’ve replaced a rim, windshield, repaired a dent on the roof, and had to replace the plastic that goes around the wheel well. Fortunately I was able to get the renters to pay me directly without using turos protection plan but I had to run around like a mad man to get all these repairs done before the next customer. I hope this was just a bad month and these issues will become rare. If not, then I feel the $900 is not worth it in my opinion. Also get a gps for the vehicle. In the event a guest blows your engine or transmission, having gps logs showing they were reckless driving will save you when you file a claim.
If it doesn't get better would you be open to selling your vehicle?
@@Jack-jp6ki of course, but I need to give it some time to give my market a fair chance.
Where are you renting out? sometimes certain cities have more crazy people than others
I heard that California has the worst drivers.
@@daddypfp734 I’m just south of the south side of Chicago
Just want to point out Turo is a seasonal business, summer by far is the busiest. Rental slows down up to 70% during non summer seasons depending where you are located. For a month of June, I'd say this car did below avg. No hate here, just trying to help adding more info.
Depends on your market
In Salt Lake City it’s better business in the winter so not always a summer business it’s very location dependent. Probably some markets that are great year round
But you can Uber the cars or rent out to delivery drivers during these times
best realistic video straight up on turo review as a host. THANK YOU !
you should do a video about Turos terms of service i see alot of videos about turo hosts getting terminared and they dont know why
A lot of it has to do with old vehicles not being kept up with and the other part is random. Can’t control it - that’s why I stress transitioning to private rentals if you can
Wym private rentals? How?@@Alexprofits
You forgot depreciation, oil changes, and other maintenance cost items. Older cars are more likely to break. If one thing goes, like spark plugs or injectors, then that will seriously cut into your profit. Also VW isn't the most reliable brand so chances of the previous thing happening is higher.
Yes I agree about oil changes and services etc, but VW not being reliable? No way, Vag group are one of the best for reliability.
I am a mechanic of 30 years and have to honestly say I’ve never really ran into many problems with them
@@Dan-78 Man come on, look at the passat, it always rusts by the boot regardsless of the year.
VAG in general just breaks to my experience. VAG reliability is certainly under that of Merc, Lexus, Toyota, might even wanna put Ford ahead of VAG.
My girl has a passat and it has 180k miles with less than 1k in repairs
VAG? 😂
@@WinterAlekz Volkswagen AG, Audi, Seat etc.
I would get a bouncie. It tracks your cars location through your obd port. I did it and it helped me.
Yup got it installed
Future expenses are not just brakes and tires. If you say that to make you feel good go ahead. But there is more to car maintenance add another 1k a year and youll be closer to the true cost.
You’re out of your mind…You should only need new breaks & tires every 3 years and an oil change every 6 months, so the average yearly maintenance budget should only be a few hundred bucks.
@@Doodoodoopiemod You forgot you are increasing the normal usage 2-3x more.
I appreciate the video and also the comments asking about why regular maint like oil changes wasn’t discussed. (Alex says he talked about that but maybe he edited it out because I couldn’t find it)
I have two cars on the platform, bought them both with cash on a home equity loan. I spent $21K total for the two. From there a spent an additional $1000 on the Subaru for an oil change, ball joint replacement, alignment and new suspension bushings. I then spent $1K on a Drone Mobile GPS system which gives me hard wired tracking and some vehicle diagnostics, plus a key locker and key pad so I don’t have to use a lockbox and attract criminals in the public parking lot I store the car at.
The VW I spent $3500 on a windshield, a sunroof repair, trans fluid change, coolant change, oil change, spark plug change, brake fluid change and two tires.
I’m on the 75 plan as shown in the video so Turo keeps 25% of the 33-45/day that the cars get rented for. That means I keep $26-34/day.
My best month is this month of Sept, I’ll bring home in gross profit just shy of $1K total for both cars.
This is the first month I’ve had them both listed, the Subaru was on the sidelines last month for a $5400 transmission replacement.
From the $1K for this month our CPA recommends we put away 25% for taxes, so we’re down to $750. $89 x2 for ABI insurance and we’re now at $572. XM subscriptions $6 x 2 and we’re at $560. Car wash subscription (a lifesaver with their moist towels) $55 total for the two cars, so we’re now at $505. ABI requires a tracker, I use OneStep GPS, I haven’t gotten the second one yet but the Subaru’s is $15 ish/mo - $490.
I’ve been to the airport 6x this month, two of those required Uber, the others I used light rail @ $2.50 ea so $10 total. Uber x 2 totals $80. Now we’re at $400.
The min payments on the CC’s, one personal card with the $5400 from the transmission at $125/mo, and the business card $110/mo and we’re down to $165. To get the car out of the airport after rentals that drop off there has been $10 for each, which I think is 4 this month. Down to $125.
So two cars with $10K of debt in Salt Lake City make $125 total after expenses.
I need to buy snow tires for both to run them in the winter, that’s another $600-1K which as you can tell, would take 6-10 months to cover.
Then there are oil changes, $100 ish for the Subaru every 6K miles, $100 ish for the VW every 10K mi. The Subaru just had its 120K service for $465 because 1/2 is the items were done recently according to carfax.
Im totally bummed but I’m going to sell the Subaru to pay the debt off. That should allow the VW to clear about $200/mo after monthly expenses…but Maintenace alone (oil changes, tires, scheduled services) will eat most of that.
It will be interesting to see how bad the taxes are, if it’s the full 25% our CPA recommended or not.
I hope that helps.
Oh, and I choose to do all my car maint at the dealer or factory specialist shops because I fear something happening and it coming back on me that the maint was done incorrectly.
Also, ABI sucks…their coverage limits are terrible, the collision wouldn’t cover even a portion of the cost if you hit a newer car. The liability is also really low. Praying I never cause an accident…by accident.
Sounds like I should not put my second car on Toro. That sounds like you work a lot for little money
All those expenses you're describing offset your income. You only need to withold taxes for the 'profit'. Check with your CPA again and be sure he/she understands both your revenue AND your expenses. 25% is too high given the expenses you're describing.
@ the right car in the right market with the right amount of maintenance costs could work! For me in Utah, it doesn’t.
Appreciate this comprehensive take.
You didn't factor in all your time and hassle. That is the number one mistake small business owners make is not putting a value on time.
Yeah, I don't think it would be worth my time with just the regular car washes and all the pictures being taken for every rental.
75 pictures per customer. That is an INSANE amount of work that no one is mentioning
@@ericwong3868 75 pictures are rookie numbers. I’m usually at 140. You learn as you get more renters that you have to be super detailed in on what you take pictures of. I had a guest burn a hole a size of a quarter under my seat on the floor. Well I didn’t take a picture of under the seat so I wasn’t able to file a claim. I’m going on 2 months soon with turo and to be honest I lost the drive to buy more cars. Dealing with scumbag renters which I feel that’s all that Turo attracts doesn’t seem worth it mentally.
Time is an investment in yourself when building a business, hassle comes with everything in life ❤
@@daytrader1268 Is it really that bad with renters? I use Turo frequently when I am in Florida(like to drive different cars) and I do not beat the cars up. I am older and have respect for someone's property, so maybe that is the difference? The reason why I am asking, I am on the fence to start with Turo, but these comments make me hesitate. I also don't want a bad review from the owner, so I can keep renting.
That’s crazy!! Good thing I’m on the right track on getting a cash car to start
Yessir!!
Great video, feels like a lot of work for such a small profit margin. It appears the real money comes in when you have a fleet
Yep exactly! Volume game
5k for a car with 80k miles is a steal.. where did you find it?
Facebook marketplace!
@@Alexprofits that’s not a common grab.. what’s your market
@@2legit2quit916how often are you looking?
Gotta look every day multiple times
@@boldpredictionssports I found one that looks kinda sus..
love the video bro. Do you think you can make another video or response going in depth towards like how much miles the car puts on in an average month such as this one aswell as profit margins for specific cars such as if its a sedan, suv, truck, van, etc? if not i totally understand but yeah great video.
Awesome video! Really appreciate the info.
Let’s go!!! Glad you enjoyed 🔥
There are calculators that figure out based on the exact car model and year what your maintenance will be - oil, filters, brakes, tires, engine, etc... You should use that to figure out the costs. Also pricing it per the day isn't good, $30 per day is upwards of 1680 miles at 70 miles an hour average ( some places that is the limit, other places it is 85 top limit so the average should be lower ). If your car maintenance costs are $0.50 per mile, that is an $840 expense on wear items for $33 in your pocket.
No one's driving 24 hours a day for a rental period. How often do you rent a car in a city to drive thousands of miles away from the city!?
600 to do your brakes? Some shops will definitely charge you that kind of price but it would pay off to learn to do it yourself, if you can learn to do basic maintenance like air filters, oil changes, and brakes and rotors you can minimize your expenses and maximize profit
Sorry for the basic questions: Do you leave the lock box in the car and leave the car unlocked? Did the renter meet you at your place? How do you handle leaving cars at the airport?
You can usually leave your car at a safe public location for contactless pickup, and for the lock box, most of them are held up by the window rolled up and the car remains locked.
Man I’m in a market where 3 ppl stay booked. And they keep adding another car to there fleet every 6 months, I’m on a beach and it was 74 degrees this Christmas. I’m bout to try my luck and put 3 cash cars out. Wish me luck.
Awesome video
Thank you! Glad you enjoyed it 😎
I don't wash my cars anymore unless they are really dirty. I just spray it down with a water hose, vacuum the inside and clean the windows. It's a big savings on car washes over the course of the year.
100%!
Thank you for making this video.
Glad you enjoyed it!
Your video is excellent. It shows the handle the business side profit and loss for the car rental. I appreciate the info as I plan to start my Turo next month
My best advice get a car where they cant use for drag racing but only for forbidden setvice drives!
You’re giving advice?????
Great video. thank you for sharing this valuable info
Glad you enjoyed!!
Where do you park all of your cars in your fleet? If you only have one car that you’re renting out, does it make sense to offer the option of leaving the car at the airport or a certain destination or have you found it easier to just leave the car at your house and make the renter come pick it up?
Just start out of your house / apartment / condo
Definitely want to learn more
Whatever NET profit you make in the next year or two with this car, it will all go towards huge maintenance issues with this car. There’s a reason these are 5k cars and sold before the dreaded 100k miles when they really start having big issues.
You can just sell it.
I see what you did here. Very cute. I enjoyed this video
What happens if your car breaks down while being rented? who pay towing how is another car brought to the renter?
What about your time getting the car prepped? Are you not costing that? Seems like an important factor to measure if you wanted to scale up.
5 min before each trip
Cool basic video to get started -- - but I think your leaving a bunch of expenses out - GPS, Filling up the gas, car registration, inspections, oil changes - not even counting if the car needs to be fixed up before going on a trip. outside of that cool video.
Not sure about the GPS but everything is pretty fucking self explanatory for anybody that has owned a car it’s still a business but it’s a start
@@Jetstreamhustlathe whole video said how much did he make gross lol not what's self explanatory. You cant be defending him for not putting all the expenses he will incur and call that PROFIT...🎉
@@smarsmar800 first off you shouldn’t need most of that up front and Im not defending anyone I never once said his name all I said was most of the extra shit you don’t need to start out lock box, GPS,technically you don’t need it he took his profits and bought a car that’s different if you were using your personal car all this would be taken care of anyway so I’m confused what’s with your smart ass comments it wasn’t that deep there’s bigger people than him on RUclips GO THERE
i agree the abuse, and miles rental cars take he needs to add like another $100 in maintenance per month with oil changes and tires , coolant flushes transmission oil , drive belts, suspension, battery, brakes, spark plugs/coil packs, and the major kicker depreciation of the cars value i think $100 a month plus what he said is an understatement.... or what he does is make an unsafe car available for rent to get his 5k back plus some and sell the car with no disclosure like a sleazy person. but idk he says he manages over 90 cars in his "fleet"
There’s definitely money in it, it’s just not as profitable as he claims in this video. I was a host, made most of my money off smoking fees, going over mileage, going over their return time, damages,etc. They charge the guest big fees for those things and it all goes to you, if you can do the work yourself you make profit. The bad thing about it is the work, you have to drive the cars around constantly to drop offs, gas stations, repair shops, it’s a ton of work! And parking them is a massive headache.
It’s all fun unit EPC and turbocharger will need to be serviced.
I’m driving 2.5 no turbo SE with 80000 miles and it’s showing age, but I’m mechanic and owner since 20000 miles.
Hope it will last, but 5000 grand is low price for this car.
I think it would make more sense to expense maintenance by mileage. So 10 cents per mile. Then you also have to devalue the car at 5 to 10 cents per mile. So for example of it was used for 1k miles then that is a $200 expense in maintenance and loss of value. But if it is driven for 500 miles it is $100 of maintenance and loss of value. A $5,000 car devalues slower so you can use a lower loss of value per mile but $15k cars would be about 10 cents.
Thnx bro I appreciate this imma be starting soon
Let’s go!!
Still in 10 months make your money not bad
No idea how it works in the US but here if you get a speeding ticket it gets sent through the post then you have 2 options,
1. You was the driver
2. It was another person
What would happen if the "Other person" who is renting doesn't take accountability, is it on me as the owner of the car?
same here in the US ...soooo i guess it's gonna be on him to pay that
I have an old car that i sometimes use but need to upgrade as family got bigger and considering i work from home and wont use the vehicle much, i started thinking about listing the vehicle which will be an SUV but i am wondering the following: Would it be a good idea to list on or not? What 3 row SUV would be recommended? I am just trying to do this to make the vehicle pay itself. What would be your recommendation? I would appreciate any feedback, i am in Allentown, Pennsylvania.
Sorry won't work with an old car.
Thanks a lot for this video. I’m doing Turo rn, but am kind of anxious since I am making payments on the car & wondering if I should keep it up, just because obviously if something bigger than maintenance happens I’ll just be stuck with the car
Yup!! Glad you enjoyed
You have to take 75 minimum photos before and after each ride? On average how much time are you spending prepping, cleaning, and active time on your phone or laptop?
10 min each trip
So do you have a list of cars that do well on Turo? How about Tesla’s?
Yes, link is in the description for my most profitable cars for turo
How do you manage multiple cars as a 1 person considering number of trips per month for each car?
Please let me know if you need an accountant for your rental work?
I have a 1 years work experience of managing turo trips
Thank uou for sharing this information. I will need to apply this going foward with ny fleet.
Let’s go!!
Why do people hold the microphone instead of pining it on you like your supposed to? It is weird.
Because it keeps the audience more engaged
@@Alexprofits for real? Interesting if true.
Nice, thanks
😎😎 thanks for tuning in
Where EXACTLY does the drop off occur? I assumed there would be a Turo owned lot in your area.
Where ever you want it to happen. You set the address
What kind of engine? did you find on fb marketplace
nice car sister owns a 2020 passat
Yup marketplace
U forgot about oil changes,registration for the car and pther posible repairs if a part fails on it..
Damage = profit. I gave a maintenance fund. Watch the vid
What's that porcupine you're speaking into?
lol it blocks the wind - glad you like it tho😭
So you bought a 2015 Passat with no issues and under 130k miles for $5k that was road ready? i am guessing family buy or you got very lucky. Don't forget sales tax, registration, if it was a dealership a doc fee (don't think you can buy that car at a dealership for 5k though)
Where do you keep your fleet?
You can keep them in the city parked on the the street
Is it possible to manage a Turo business if you have a full time job🤔 I just don't know how I could manage the pick up and drop offs if I'm at work?🤔
That is my issue but the lock box and just timing it out around your work schedule you can probably do it. i'm trying to figure that out too. or throw a family teenager or retired friend/family a couple bucks to help when you absolutely can't make it.
Yes with lockbox it’s 100% possible
@@Alexprofits Awesome thanks so much! 🙂
How do you insure your car? Does your auto insurance contain a rider to cover the additional liability?
towards the end of the video he explains he used abi and it cost him $89 a month 5:27 timemark
the other part of your question in the very beginning of the video he explains "Protection Plans" named by toro that take a % out of the rental price, per rental based on different coverage plans that he explains 0:54 time stamp
do u open the llc if u have a turo or try to open turo ?
Great video. What market are you in tho? Like a tourist city?
South Florida. The smaller the city the higher the daily rate you can change because less competition
this is great thank you
🤝🤝 glad you enjoyed. Thanks for the comment
What is a VIN Number? I am familiar with the VIN but would the number for the VIN be what it is stamped on?
VIN (Vehicle Identification Number) its available at vehicle Registration Document.
Please let me know if you need an accountant for your rental work?
I have a 1 years work experience of managing turo trips
Thank you
Glad you enjoyed!
Why does someone rent a car ??
If he/she don't have a car then he will order an oper
Right ??
Or I'm missing something
Ease of mind that you have one ready to go for multiple trips. An uber cost around $12 a trip for the most common places in my area. Thats also with Uber One. If you make two round trips from like your airbnb/hotel thats already around $48.
Cool!!!❤❤❤😁😁😁😁😁😁😁😁😁😁
You gain a new subscriber when u said hellcat!! Nice bro
😎😎
real question is where did you find a jetta with 80k miles for 5k
It a Passat - I literally said where I got it in the video boss
How come the car was on a new account? Can’t you add the car to your already existing account?
I wanted it to be a new account for the purpose of the video
Did you know you can clip that mic to your shirt
Yup - but I got you to comment 😎 thank you sir
$89 a month insurance , in uk private insurance is more £100 a month for the average driver
What if someone crashed? doesn’t it effect your personal insurance ?
No. Turo pays out
What are some of the most in demand cars to list on Turo, sub $10k cash price?
Made this video already👍🏼
do you clean the car yourself?
No - monthly car wash
Just want to know if 2013 buick encore sport is a good car for turo rental
100%
Is there any chance prism technologies group inc recovers and starts trading again?
HIii! I love ur vid!!! I wanted to start a car rental business but I found there are more than 15 hosts in 1miles around...does that mean the market is saturated?... I'm super worried about financing a car but no one is booking it....
Don't finance, save your money and pay cash.
Definitely not oversaturated but I wouldn’t finance. Buy cash
@@Alexprofits thank u!! im just super worried about how to make the renter choose my car while I have 0 trips out of many choices... but thank you so much!
5k in 2025 for that car is a steal..
😎😎
Do you have personal auto insurance for the car or just rely on Turo insurance?
You have to maintain at least state minimum personal auto insurance in addition to Turo’s coverage
Big factor! What city are you in? Looks like Florida probably Orlando?
Interested in a six month update?
Coming soon
Totally ignoring the price of the car itself and the subsequent depriciation from wear and tear the car will incur is a convinent way to show profit.
It is especially if you bought a car for $5k when it’s actually worth $10k. When i sell the car I get my $5k back.
How is it that cheap ? Passat 2015 is much more expensive here in Germany
What kinda of insurance you get for this cars
You didn’t watch the video bud. Watch it and you’ll find out my friend. Thats the whole point as to why I posted the whole video and not half
Hello Alex, thank you for the great information video . I have a question in regards to if your putting cars in your name? or some type of LLC or business name. I am considering starting a turo business, but have concerns of liabilities if customer runs a red light and car is in my name, or if they get in a bad accident and car is in my name. All that goes back to owner on file with dmv, especially if they run a red light with camera pictures, 500 dollar ticket in California
Hey thanks for the question! Dm me on IG - I’d love to answer this for you in depth
Oil changes are important.
Yup - which is why I set $ aside for maintenance fund
great so what type of insurance we need as Turo host ?
I said it in the video and it’s linked in the description
Great video!
What lock box you recommend?
Click the link in the description: linked as host necessities
Raise that rate a lil put the excess in maintenance fund
Yup👍🏼
What city are you in?
South Florida
After taxes thats like 300-to 400 bucks
75+ photos??? NOt sure if you exaggerating or that is actually what they want. Seems like a few videos would be WAY more efficient.
You can’t take videos - only photos
What about the taxes you have to pay on the income made?
Uhhhh do you know how taxes work? Doesn’t sound like it
Good point, don’t start a business because you have to pay taxes on the money you make. The 80 percent is worth it
I’m surprised you got that car for 5k. My Prius has almost 250k miles on it and is worth more than 5k
There are good deals out there!!
Where the heck did you find a 2015 passat for only 5k?
Facebook marketplace, I bought a low mileage 07’ motorcycle for $2900 when I could easily sell it for $6k
Good deals on marketplace daily! You just have to look consistently
Lock box? How does that work?
so there would be a pickup location, like a parking lot. on the bike rack u could cable a lock box that releases the cord which would prevent the chance of an officer cutting it off since it would on be on there for a few minutes to maximum an hour.
I'm trying to buy an suv or minivan in Orlando to rent it out, but I'm worried that it will not be worth it.. Is anyone renting in Orlando? I believe a minivan would be much rentable due to family coming in for Disney/Universal parks...
100% a mini van in Orlando is perfect
Where in the world did you get a Passat with that low of mileage for 5k????
Is the title rebuilt? Can you list rebuilt title vehicles on turo?
Not rebuilt - clean title. I got it on marketplace
My whole thing is it’s better to buy a 5k car and sell it for 6k in a day or more… I just bought a car for 1k and selling it for 3500 on Saturday 🤔 TURO that 😂
I feel you bro 🤝
Why do you need abi insurance if turo give you rental insurance ?
My guess is because most sates require you to have insurance on a vehicle to keep registration. if you don't have insurance you'll get a lap notice. The turo insurance is to cover what you don't have insured. I'm sure he has the most basic liability insurance he could get for a rental purpose to keep registration, and then the turo insurance insures that he doesn't have to pay a deductible with his original insurance, won't raise rates, and also would pay if the drivers at fault
Where the hell do you keep your 90 car fleet???
Flex space
you forgot to take off taxes, that will be as minimum 30% (and more) + car depreciation (130K mileage - present mileage = rest mileage of this car life in Turo) + your work time and as result you will have almost 0 profit ;)
so do not waste your time and learn math better
Are you somewhere close to Tampa?
South Florida - closer to Miami
Mmm... I see. Wondering how this business depends on the area. Cause in Miami I guess it is much busier than in Tampa
Tampa is better than Miami for turo - less competition
Damn, I gotta a 2012 Fiat with 23k miles, its' super clean and won't qualify due to age.
Yeah it will qualify for sure. Create an account and list it before the end of the year. If you list it before the end of the year it will be grandfathered in. If you try to list it in 2025 however, it will be ineligible
@@Alexprofits Sick. Listing now.
@@Alexprofits I'm all signed up. There was a recall on the clutch my neighbors that never got fixed. Turo picked that up. But I'm all signed up and have the clutch recall repair scheduled for three days from now. I think a cheap, cute and economical car will do well in San Diego. It's a manual trans so that will limit some folks but others with the same car are doing well.
75 PHOTOS?! My god that enough is a reason for me not to do turo. F that
Bro got that car for a really good deal😂
So basically stocks but full time job
Not exactly