Here's How Much MONEY I've MADE On Turo *Probably Not Enough*
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- Опубликовано: 19 окт 2024
- I started a my Turo rental car fleet 2 months ago and it's time for a complete update on how things are going. I spent a lot of money to get this going expecting to pay for most of the cars within the first 180 days of rentals. The cheap cars are going to get very close to that ROI but the more expensive ones aren't even close, especially when they aren't renting that much. So now let's get into what I've made so far, and how long it's going to take to pay for the cars if the current trends hold up. This isn't the most complete picture but it should help you decide if you want to rent your cars.
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#HEMI #DodgeDurango #Turo
![Gunna - HIM ALL ALONG [Official Visualizer]](http://i.ytimg.com/vi/HiCxoDeo0hc/mqdefault.jpg)
I’m so glad someone else out here has gotten to experience and document the Turo gig. CS is awful, getting reimbursed is always fun, reporting damage is a whole other deal 😂 then there’s the customers who lie to get discounts or trash your cars. So much fun! 🤩
Honestly when there's slight damage you can't do a thing but grit your teeth, they aren't going to help you at all 😢
I remember when you used to do Touro Randy, you did it quite a bit and I think you had four cars at one time? Or was it just the cruise? But I remember you getting one back damaged I don’t know if it was the cruise that got wrecked or whatever but I remember you not really talking too much about it maybe for legal reasons? But, in the end I don’t think you were too happy about it but then again you never really talked about it so we don’t know too much unless I missed the video?
@@B0xlife1 I made several videos on my horror stories. I had tons of cars on Turo and did it for 5 years before leaving. My Mustang GT was totaled and I never got paid from Turo, my brand new Sonata was destroyed by its first renter, my Cruze was used to transport drugs several times, smokers leaving burns and ashes everywhere, my RX8 Shinka that had the tail lights stolen by a customer, it was just a horrible ordeal for very little money.
That is the 'gig life' cautionary tale, if you pay close attention to the numbers, it generally doesn't work out, Uber, Lyft, Turo, etc etc
@@AutoAuctionRebuilds oh my!
Sorry to hear that! But when I hear JR say that the dart goes to NY all the time I think of drugs immediately!
Sad to hear that.
Cannot thank you enough for the unfiltered look-in at the business behind the scenes. Hope business picks up for you. I love watching the normal car content.
Am an insurance adjuster and I send so many cars to Copart and wonder if you’ve ever purchased one I’ve totaled!!
Had a strong feeling the Dodge Dart or any other cheap equivalent cars would be the better bets from the beginning of your Turo saga. I'd have allotted $25k for 4 cheap late-ish model beaters that are also cheap/easy to fix and already mostly depreciated in value instead (Chevy Sonic/Spark/Cruze/maybe Malibu, Mitsubishi Lancer/Mirage, little Kia/Hyundai whatever's, etc). Hope the Durango gets top dollar when sold though, they sell for big money here in Detroit.
Thanks for taking the time to share your experiences and be forthright on the cost and pitfalls. So many other people don’t want to admit when something doesn’t work out as planned, but I enjoy your integrity and honesty. I hope you can break out of the Durango still make a little bit on the cheap cars. As always Thanks for sharing your adventures. Peace
The sharing economy: they share the profit of people using each other’s stuff. The people share the costs, the hassles and the losses of people abusing their stuff. Sounds about right.
Part of the issue is probably that they have to pickup in Derby. If you were in Wichita proper you might get more rents. You should try fixed pricing and see if anyone goes for it. It may be that because your cars rent for $27 a day is the only reason people are willing to go down to Derby to pick them up, because they can't find it cheaper. I paid $90 a day for a 2017 Fusion rental from a "budget" rental car company in Dickenson, ND back in September 2021 when I was up there on vacation with car trouble. And that was the cheapest I could find.
1) Would you be happier making the pickup location your house rather than your shop? I guess you might not want to do that for security reasons but it would cut down on the drive to rent out the cars.
2) Maybe try set pricing for a while rather than auto pricing and see if that helps your margins? Some say that Turo sets autopricing really low because it benefits them more to keep the cars rented out all the time but owners don't see any benefit.
3) Maybe compare what other subcompacts are listed for both on Turo and at traditional rental car agencies. Then price your vehicle accordingly. If the min rate in Wichita is $38 and Turo is renting your car out at $29, you are leaving money on the table because autopricing isn't generating max $.
Also, are there any other options to rent your cars out, other than Turo?
Also influenced by how much local turo competition he has …
If there are 3 mid size cars for rent at 32/33$ per day and his car is at 50$ just to maximize $ for his car ( still being 25$ cheaper than the lowest national chain )
Obv that’s just one factor of the equation to maximize his profit per day while minimizing his pickup/clean/turnaround time.
ruclips.net/video/dXXTuNX2d1k/видео.html
As much as I have had a dream of owning a fleet of cars, I have seen the way most people drive their own cars and use them quite often as trashcans. So, even though the 2 cars that I currently own might be ideal TURO cars, I hope that I am never so desperate for cash that I need to " put them to work for me ".
I kinda figured it was gonna be this way in your area. Maybe if you were in like Vegas or Miami or some other tourist hotspot and Covid wasn't buzzing around you could make it work. Kinda like food delivery, all depends on your area, if its oversaturated with drivers, and how much people are willing to pay/tip.
Any destination city and you'll probably kill it, I've got friends making an extra $100k a year with their fleets 🍻
@@WatchJRGo Besides location, how do their fleets compare? Assuming they are significantly larger and/or renting out in more of the $100+/day range vs only $30
@@WatchJRGo i think it be great here in Vegas and a Nightmare at the same time, nobody in this town can Drive, you see that with the issues the exotic rentals go thru. people are crap and treat the stuff they dont own as such its just Fact...
100% even in my town here in California kinda a smaller town in the central valley my boss has turo cars and his Tesla makes absolute bank... I can assume JRs market would be a bit difficult to make money on turo tbh.
@@RodderFiles The rule when renting, Drive it like you stole it!
I really appreciate all the details, I have couple of vehicles that are not my daily drivers that I was considering using for Turo, but I was on the fence, and your experience just convinced me that it will be more of a headache that I don't need. Even though I am in a better market, like you, do all my maintenance, the vehicles are paid for, etc. I'm going to sell one or both and "archive" the Turo idea. Cheers!
No matter where JR is, he is always here.
This is factual in every way 😂
@@WatchJRGo and quite a philosophical concept. See the sound of trees falling over in forests with no-one around.... 😐
Please everyone report those pornographic spam comments and report them as unwanted spam! Because I’ve been reporting everyone I see as pornographic ,and they don’t get removed! I don’t know what’s going on with RUclips and they’re being stupid. But, now I’ve been reporting them as unwanted spam or commercial spam and that seems to be doing the trick but we need everyone to report them when you see them please they are just irritating and they’re stupid and these people are making money off every click they get!
so I know I’m not clicking them and I know more smart people arent clicking them, but come on guys let’s get on the ball and start reporting them, it takes one second please!
@@B0xlife1 Indeed, I've been noticing these porno spam ads way more lately on RUclips comments.. They always spam only reply's, they never post a new thread with spam. I wonder if this is a way to avoid any bots looking for this stuff. I've been reporting them too lately. I don't know what changed recently because you never saw them before, but maybe it's just a new tactic no one was doing before, or RUclips/Google/Gmail are just not enforcing much anymore..
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Turro sounds pretty iffy at best. These gig programs are cool on paper, but impractical when using it as a real source of income. Certain unexpected scenarios that might occur could ruin everything. I think the reason why people aren't booking the larger SUV's is because its probably mostly younger single people on a budget renting the cars. Also, to be honest, young adults probably want to drive little BMW's more than big luxury SUVs like the Cayenne.
Even if they aren't I feel like a lot of people see it as larger vehicle vs cheaper rental, and end up going towards the cheaper one.
If you want a car that families always want, you should get a mini van for your fleet. You can rent them for a lot of money and people always want a mini van.
Odisseys and Siennas for the win
@@honestguy7764 no soubt..Oddessys and Sienas are the only vans id ever own
Every time I've rented a car in my town (not while out of town, vacation etc.), I've picked up a mini van because I need the space for some item that needs room to pick up in an adjacent state and bring back. If I'm visiting a friend in another state, or on vacation (i.e. I flew out) I'll rent a small car at the airport. I don't need anything fancy, just a means of getting around while I'm 1200 miles from home.
I can't imagine what local people do in Wichita that would need anything more than a minivan, truck or small car. Your population isn't large and it's not a destination city. The only people probably looking to rent are locals, (because their car is in the body shop) and maybe business types who come for a week and leave on Friday, but chances are the weekly business people probably have some deal with car rental places.. So maybe just locals, and former locals who are visiting family and don't mind picking up a car a little outside of Wichita because they already know the area.
@@honestguy7764 I agree - finding one that's not clapped out with under 200k miles is going to be the challenge.
With the price that cars are going for right now, it seems like it’s more profitable to flip them.
Thank you JR for how transparent about the whole Turo business 👍👍
Great Advice! Really depends on location> I'm in Ft. Lauderdale Bought an Audi 2006 A4 Convertible for $3500> Strictly to rent on Turo. Made $3200 in the first year, sold the car for what I bought it for. CONS - 1. Dropping off and picking up the car. your time frame - usually Friday/Saturday early in the AM & then picking up the car from the airport. 2. Damaged will happen nearly every rental
What did you spend maintaining an Audi that rented on Turo? That had to be an expensive car to keep running. I've owned Audis so I understand the cost of keeping them.
@@AndyZ325is Car was well sorted S-line> every upgrade possible. Had 104K miles>
1 axel($100), AC repaired ($500) before rentals
Convertible top was broken during a rental(two plastic brackets broke; $5 at the junk yard) - Turo denied my insurance claim BTW, normal wear and tear is what they said...
@@mattr2773 Sounds like you got a great deal on thay Audi right out of the gate. Thanks, Im curious about this whole process. You were profitable and you probably got to enjoy the car as well so that was a double win.
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Can always tell how popular a "channel " is becoming because the commercials start increasing !! Yours is definitely growing !! Keep up the great work !!!
what commercials?
If you do the RUclips premium, you see no ads. It's worth it for me just to not see ads/commercials. Yes I'm not a patient person and have always hated commercials
He hasn't grown at all in over a year now. His view counts have actually went down.
I watch exclusively in Safari on my iPhone. Open each video in a new tab & don’t ever see ads. No RUclips premium to pay & no ad blocker installed on my phone either.
@@HawkXe are you the RUclips police ?? Watching people's views for a good time on a Saturday night !
Thanks for sharing this Turo experience! I probably won't get into this, even though I have a nice "extra" car. I agree...you need to go all in to do Turo, lots of cars, but also need some help with managing the fleet/time, etc. Get some more cheaper rides and change your minimum rental length (can you do that?) to 5 days. I would keep driving the Cayenne too...it's wicked nice! I know that doesn't make money if you have it. But it's sooooo nice!
Thanks for the great content, love the honesty and the willingness to try this experiment and let us follow along.
I love the Durango, but when the family goes on trips we need the extra luggage space in the back. Not sure if a Suburban/YukonXL/Expedition EL/Max would do better, but those are also much more expensive on you out the gate… best of luck to you man! Hope 2022 rents much better!
Turo definitely seems a GREAT deal for everyone involved but the car owner. Like many others have posted, I'd suggest keeping the Porsche, and selling off the rest of the fleet while the used car market is still crazystupid high.
On a positive note, odds are good that this venture ultimately will be far less painful to your wallet than a certain twin-turbo R8.😎
Eh, it's allowing people to buy fleets of cars to rent out and basically build a business within the app, without paying for any of the expenses of creating a rental company sans the cars...not that I'm even sure that that's a good thing..
$56,000 invested in an S&P fund last year would have made $15,000, hassle free. Hopefully you can make enough off of RUclips to make up the difference. Thanks for the information 👍, your RUclips site is the best.
I had a turo vendor try to rip me off…got the car and it was filthy so I washed it. When I washed it I found body damage and a damaged wheel and he tried to blame me for it….lucky for me I took lots of pics when I picked it up.
I will say I've only had one customer take additional pics, they usually just hop in and roll (but my cars are nice and clean) 🍻
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I have a friend who did the same thing. After being jerked around by Turo. He said it was a complete waste or time and money so he got out of it and sold his vehicles.
Turo is a tough model for retail car owners. Global rental car companies tended to make money in niche areas (insurance, GPS modules, airports) and have massive advantages in volume purchasing, cheap bond financing, maybe some tax advantages, etc.; this varied by country, market and timeframe. The Turo company takes commissions with no assets so is an obvious winner...not sure about the individual car owners.
Geez its almost like they have it figured out lol
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I think overall most people would just say screw it pack everyone up in a tiny 5-seat car versus having an SUV that is double in price. That is why I think the durango has done so poorly.
I always watch but I've never rented a vehicle in my life nor even heard of turo until this channel couple weeks ago Lol. Always a thumbs up from me JR
I feel your pain about paying the taxes. Kansas is ridiculous when it comes to automotive sales tax and all the other taxes and fees they pile on top. Couple that with a trip to the DMV and it makes for a great week. Even with an appointment you'll still be there all day if you're not on the board at 8:01 in the morning. The last vehicle I sold, I had just retagged it and the DMV is so terrible I just decided to eat it rather than try to get a refund
I think the secret to making some money on Turo is get a couple of cargo vans. Look what Enterprise or somebody hits people up to rent those. Sure you can go U-haul for $20/day but they also charge per mile to where 200 miles a day for $50 might be a better deal.
Plus a decent old AT&T or similar van will hold it's value fairly well, if you buy in and it's not a success you could get out of them okay.
Thanks for sharing your experience with Turo. It looks great on the outside looking in, but you never really know until you’re in the business. Just doing a quick calculation on your return it seems like it’s around 2.5%. Regardless, a lot less than you’d projected. I’ve had fleets before and some of the worst drivers and neglectful were employees. Sure, I made money from both, but the headaches just became too much. I wish you well.
The funny thing is he made that return within 2 Months. Many people who rent out homes are willing to accept that margin for a whole year. :0
ruclips.net/video/dXXTuNX2d1k/видео.html
@@Nutzername1273 But real estate usually has appreciating assets. So even if you're just covering the cost of the mortgage and maintenance, you're getting a house paid off for free. Most cars are depreciating assets. I've been considering buying a second car for Turo for a long time. I live 10 minutes from a major international airport and I have access to a cheap wand wash that is steps away from my spot in the underground parking of my condo building. It seems like to only sensible way to start out is to get the cheapest car possible that still holds some appeal, one that won't cost too much to maintain, and see how it goes. Hopefully it pays for itself in a year (and I mean every cost associated with it), and then it becomes semi-passive income for a few years after that.
For people commenting on the Durango:
It's just my feeling, but a decently equipped pickup truck would probably have been a better choice.
When I have considered renting a vehicle in the last 2 years it has always been something that can carry a bulky load...furniture or appliance.
Yep, I think it'd be a great idea to sell the Durango and buy an inexpensive truck.
@@BradColemanisHere no such thing as an inexpensive truck
An old black dump truck maybe?
For what he paid for the Durango there's not much in the way of an "inexpensive" pickup truck. I got darn near what I paid (new) for my 2018 F-150 XLT.
There's also the competition from U-Haul and places like Home Depot - if you're using for an entire day then the Turo pickup might be a better pick but for a few hours that $19 an hour is hard to compete with. 2 years ago I rented a 26 ft. U-Haul and with mileage (only about 50) and topping off the tank I was out about $150 - of coarse you can't even find a U-Haul in some states right now but I'm sure in KS there's at least some competition...
It's like being a pizza delivery driver once you crunch the numbers you realize you're not making any money and you're wearing out your car
But at the end of the year, the mileage has depreciated the value so much that it seems like a break even. How does this really make money in the long term? The real test is to buy a car for Turo, rent it for a year and then sell it and see what the net is.
Get an all Dodge Dart (cheap as hell) fleet and just maintain them (and then make videos about them). Since you do all your own work you should do OK. I would be hosed. Thanks for the feedback. At one point I was thinking about it, but decided dealing with the "public" was too much for me. People destroy things.
Dodge Darts surprisingly aren't usually as cheap as some other small compacts/sub-compacts on the market, although probably a little cheaper than equivalent Toyota's and Honda's. In terms of late-ish model beater cars I've found that overlooked/unpopular stuff like Mitsubishi Lancer's/Mirage's, Hyundai Accent's/Kia Rio's, and Chevy Sonic's/Spark's are generally a good amount less expensive than most Dart's.
Turo makes Amway and Mary Kay business plans look brilliant
I’m from Alaska and had to use Turo for a long trip on the Denali Highway. The guy I rented from had a fleet of jeeps and he made bank by financing them and renting them out from his house. Definitely depends on your market because for him 4x4 rigs were gold mines
Some lady out in California had a few C7 Corvettes - she seemed to do okay too (but perhaps it was all for RUclips). With about $1200 in payment costs (per car) I was surprised that she broke even. She had to routinely retrieve the cars and often had minor damage (mostly interior) to take care of. Just because the customers were more "up scale" didn't mean they weren't "pigs". I'm willing to bet that without RUclips revenue and whatever else she was into the business would have folded sooner (I've not checked to see if her channel is still making content - that was a couple years ago).
None of this sounds financially viable, let alone profitable. Especially with how much time and hassle it would take to maintain all of it.
That Cayenne 😻😻😻 beautiful its probably best that its not rented out like the smaller cars. Let them stack the miles on the Dart!
That Dart putting the rest of the fleet on its back. The little Dart that could.
JR, why don't you just buy every color of Dodge Dart and rent those only?
cruze darts etc.... people want to rent run of mill car not a high dollar car. same way as enterprise. the durango would do good in a tourist area though.
Watch JR rationalize a bad financial decision.
So do you think you can swap the Durango for 2 smaller vehicles like the dart in size? That may help increase your rentals.
Doing the math, it hardly seems worth it.
Or, you switch your fleet around for smaller/cheaper sedans/hatchbacks to maximise profits
For the proce of the Durango he could get 3 more Darts
@@derekgardin1512 and that's a lota Darts!
ruclips.net/video/dXXTuNX2d1k/видео.html
Have you ever considered replacing the Durango with something like a minivan?
I think a big problem with the cheap cars paying for themselves after a year is you end up with a small cheap car that has a million miles on it and you can’t get rid of it.
I feel like an absolute idiot.... I paid $462 to Enterprise to rent a 2020 Toyota Camry (base model) for 4 days.... After my car was totaled, literally spent every dollar that I could spare just to try to have a vehicle until I got a check from my insurance company. Didn't receive the check for 9 days after I returned the car I could have rented off Turo and had a way nicer car until I got the check....
Wichita is probably a tough place to run a Turo business. I live in Las Vegas and my neighbor on the corner does Turo and runs it from his house. Because it's Las Vegas and usually vacationers they want more fun stuff, so he has some Minis and some Mustangs and one Escalade...or is the four door version a different name? Not sure. His cars don't sit around much.
Hey JR - super informative. I think you have a winner with the Porsche in any event. You mentioned you’d do ‘dynamic’ on the dodge. What does that entail??🤙🤙cheers from NZ
I think your next vehicle for the turo fleet should be a flex fuel dodge caravan or some sort of Subaru Legacy with a 6 cylinder or a Impreza?
A Dodge Caravan would rent all the time! That's the only local car rentals I've ever done in the past because I needed to move something bigger than my car.
Although my head tells me never to buy another Chrysler product again, having been financially burned by two in the recent past, that Durango is a beautiful vehicle in my opinion and if you did put it up for sale and it was closer I probably be at your doorstep with my checkbook.
Glad your feeling better..I say keep the cheap ones going to be able to drive the ones you like
Maybe you should raise your daily rate on the two cars that get rented most and lower the rate on the cars that don't go out alot.
And here I thought you could do math lol! BMW X3 $100.00 rents all the time Porsche $149 no rentals? Well I know for me a $49 rental difference makes all the difference! $49 is a big leap for most people especially when you add up multiple days over 3 days that’s $147 plus the additional tax it adds to total bill !
Yea, I feel like for that $49 difference I could be buying myself the best dinner in Kansas every night...and still be driving a BMW for $100 in the morning.
Thanks for the breakdown! I don't think you messed up paying cash. Worst case scenario, you already ate any loss you may have after selling. If you financed you'd still be hooked for the remainder and it might even incur an early pay off penalty.
I think if you lived in a bigger city you would do really well. Witchta isn't a tourist destination which you already know.
You are looking better. Hopefully rental fleet works out in the long haul
Need to raise the rates on the Fiat and Dart.
If you were in Southern California, San Francisco, Chicago, Dallas, you'd be killing it with the SUVs.
Saimah kills it in So Cal with the Corvettes and other sports and luxury cars.
Great insights! Sell the Durango and start building a fleet of Dodge Darts?
Glad your honest…. Another RUclipsr would have got on here and said they made a killing on Turo
@1:47 Toni seems to be very pleased with the 500. He doesn't need to fix it that often. ;)
I think that Covid is an impact, as well as winter. I think business will pick up as we get into the summer months. I'd unload the Durango, and get two more darts, or a dart and another fiat. Very few people want to spend money renting high end, most want to go cheap. especially with the cost of gasoline. In any case, I will be watching!
We used to rent out used K-cars (Dodge Aires) for $19.95 per day with 50 free miles IN 1992! My father still didn't make s*%t on that endeavor.
Great reveal on the financial backroom management of running a leasing company.
Do yourself a favor and any vehicle with a FOBIK (Chrysler/Jeep/Dodge/FIAT) and have 2 FOBIKs customer program a 3rd. With 2 FOBIKs you can program a 3rd without a locksmith and the fobiks can be purchased cheap on various online sites.
Kansas is less on family trips, and more for business commutes. My dad was a traveling salesman for 30+ years, and that's who you'll be selling to most. They always pick the cheap cars. IMHO, sell off the Durango and the cayenne and pick up three more darts or equivalent. You'll constantly move units that way.
I would suggest that if you’re buying cars to use as rental, buy what the big companies buy.
Too bad about the Durango. I love the color and it's a nice rig. Whoever ends up with it should be very happy.
hell ya, i want to see that dynamic. Please take the Valve cover off again afterwards so we can see if the sludge is all gone
Thanks for all the details and for being so transparent. But come on you knew this was a bad idea right
I bet that Durango would sell nonstop if it were located in Denver in the winter - especially if you put some tires on it that can handle inclement weather. The rental corps keep summer tires on their rentals, even in the winter.
Turo in middle of nowhere Kansas? I'm going to guess its not going to work out...time to switch income streams JR.
I think someone mentioned a pickup truck to replace the Durango, and if you could find a nice late model Colorado or Ranger I think that would be an instant money maker. Doesn’t even have to be 4wd. But I’m sure the trick is actually finding one, in this ridiculous used car market. Maybe start looking into estate sales?
I just checked LA, $40 to $55 that I see for average cars - not that great. Maybe it's time to get certified as a used car dealer so you can sell all the cars you fix up? How expensive is that? What you said about the dog doing damage, that's gotta have dropped the re-sale value of that car a lot. 😥
I want to understand how insurance works for the customers.
I've been in the states several years ago, wanted to rent through turo, but was told I'm responsible for insurance.
I am not an American, so I don't have any history with insurance here, and ended up getting a Ford Fusion hybrid from budget with "full coverage".
Really wanted to drive a Tesla for a day...
actually it's not hard to add keys, I agree. I added one to my Toyota. Just bought from ebay key for ~20 dollars, bought a used one for few dollars for buttons (the Chinese one didn't want to work with a car, so I just reprogrammed remote control module from another one, and inserted internals to Chinese key). If you have a laptop and "cracked" TIS (Toyota management app) with appropriate OBD2 plug - you could then add the security chip from that key (Chinese one), then add the remote (some combination of key and door open-close-lock-unlock). Then you just need to cut "Chinese" one to copy the shape of "original" key.
That's it ). Less than 100 dollars if you know what to do and how ).
Well, and you always can get rid of "old" keys with scanner ). Now I'm thinking that it's not so safe to give a car to Turo ).
Do you have any issue with the cars coming back smelling like cigarette smoke or weed smoke? I can't tell you how many rentals I've had that WREAKED of weed and Enterprise acted like they couldn't smell anything when I complained about it.
Interesting to hear the actual numbers on your Turo experience. It would not be worth the hassle for me as the profit margin is way too tight. You have a fantastic set up for such a business with the car wash bays, indoor storage all in a commercial location with ample parking.
Great video from JR.
Time to get some Prius's and some smart cars, keep the rates down and more rentals.
Alternative title: “How to turn a liability into a semi-/sometimes-asset!”
Being out in Derby is probably a con on pickup/dropoff, need to rebase them to Hoovie's hangar if that's at the main airport :)
It would be interesting to see if the income would increase in the summer or in better weather generally. Not that I expect JR to take the financial hit just to satisfy my curiosity.
I imagine the continued COVID pandemic still reduces the potential customer pool. While some people have resumed traveling, there are still a lot that are not.
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If you live in a big city Turo is really a good side gig, the way uber/lyft used to be, but even easier.
Turo definitely sounds like something made for those who have a spare car sitting around and won't mind people dinging it up a little especially since people don't always respect other people's property. My cousin has two vehicles because her brother is out of country for 6 months. This might be something for her to do with his car to make some cash back on his car instead of it just taking up space at her place (that he isn't paying for).
Eh, it honestly sounds more like a full time job that you can only make pay if you have volume.
I like his truck with the rotated bed. ; )
The Porsche will probably rent out for prom season or even a wedding or two in the spring/summer. If JR was actually in Wichita rather than Derby, I'd imagine rentals would be far more frequent.
$100/day is not $149/day
That extra $49 per day probably prices a lot of people out. That's why the X3 is getting rented over your Porsche.
That $49 gets you a lot more car though, the x3 has half the options 🍻
@@WatchJRGo well in theory, but not everyone can afford $150/day for a rental car. I'm just saying that people looking for a small/medium SUV probably aren't the type of people willing to pay $150/day to rent a car.
Also I doubt alot of people even know the difference in options and all that. It is all about the clout. A BMW for 100 or a Porsche ( that people think is a VW) for 150. Not knocking you JR you just have to think from the common morons point of view.
Yeah $100/day is expensive enough for a rental, $150 is way out there...
Renters don’t give two shits about options. They think differently than owners. You should sell the Porsche, try marking down the Durango, and marking up the cheaper cars just a little.
If a vehicle is not renting the market has spoken. With some tweaks I think your ROI will improve.
My partner did this with a full size van in the Phillipines. No Turo there you are the whole business. Similar situation not enough money to make it worth it. Ended up selling the van. Where you live one of the most famous people come from there. Dennis Rader
Modern customer service: gaslight the customer until he run away.
You need a FLEET of Toyota Corolla's and Honda Civic's!
At least 3 of each...
I'm guessing the customer service is run out of BPO call centers in the Philippines or India. They tend to vary in terms of customer service, with the lower end ones often suffering in the realm of motivation and reading comprehension.
Super helpful, thanks! 🙌
Is there a way to test the market and see what vehicles are most popular rentals in your area? Maybe be able to snag something on the cheap, that will be one of your popular rentals, too.
That's no Autel maxisys Elite my friend.... My OBD2 scanner game is on level 1000. Lmao 😂
Looks like if you stick with economy cars for turo you'll do the best. I'd say sell the Durango and get a Honda civic or Chevy Cruze or a couple of them.
They should rename it. Turdo!
If the customer knows they'll be doing a long trip and already have a lease plan with restricted limited mileage. It's a no brainer to rent one of your cheap cars instead of driving your own. This might explain why the more expensive cars don't rent.
sounds like you need two used half price K cars, like that S car go Doug Demiro had just to make money, and even then that will be a 6 to 12 month prospect before you make your money back, also so the ceramic coating didnt work with a dog putting its paws up? like how bad is it really? like is that just an overglorified rain shield then that doesnt do jack to actually protect the paint then?
Thanks for the update
Makes me think that renting from Turo is a good option when I need it. Owning is such a hassle right now so an occasional rent makes sense.
Weird. Been on it for two years, never had a CS issue like that. Sometimes you get into a CS loop, then just tell them, you're unlisting your car, if someone doesn't take action, but obviously, you've had it unlisted by Turo... Strange. My sister car, to yours, 2012 Audi Q7 TDI, I picked up for $20k, stays rented. $149 is probably too much. MIne's listed at around $90 most of the time. I average about $1.1k gross income per car, on a Q7, Z4, and 230i. Been working for me, on average of 7 hours of labor per month. Pretty sure I could nearly double my profit if I wasn't just doing it part time, and am trying to stay low hassle, around 50% utilization. Being close to an airport and offering airport delivery helps. Local renters are usually the problem ones, travelers are the best. Made $1k in one month just on airport deliveries. I am not by any means an expert, but if you have any interest in how I price(pretty much just react to the market and comps), or how I manage my mini-fleet, let me know.
How are you spending on maintaining each car per month? German cars are expensive to maintain. That has to eat a lot of your profit.
@@AndyZ325is They have been expensive from time to time, but 230i has been a tank, no issues, and the other two are on extended warranty. Lost a harmonic balancer, and AC blower on one, and a hydraulic convertible top motor (which I paid $600 to rebuild on the other.) All in all, they earned everything I've spent on maintenance, in profit, just in October... The 230i seems to be a pretty perfect car for Turo. Not so powerful or attractive that it is rented as a performance car, but nice enough to still rent for what 3 and 4 series still do. It's at almost $1500 this month, which is normally a slow month. All told, The cars are averaging 15k miles per car, per year, and earned, with unrealized gains and depreciation considered, $17k in profit, and $14k without, on about $35k in total revenue.