I wouldn’t consider my Prius or model 3 expensive? Plus the model Y is an SUV. We also have an amazing tourist community for the winter and all my cars are AWD - which means they get rented all year round. It’s all about the market in your particular area
@happytoberu the way you described it was like it wasn't getting rented all year long and I mean a real SUV one with more leg room in the third row not a crossover size type of vehicle and a lot of people aren't into electric have to keep that in mind too
Brand new on the model y and the model 3. So sticker price. The Prius was lightly used with 1 owner, 16K miles on it, 28K. So all in about 140K pre tax/registration
Hello Sir, I’ve been thinking about putting my car on turo for a while but also wondering, what if there is a total loss or theft while the car is with the guest? Turo only covers upto the current market value which is mostly a lot less than the remaining loan amount. Is there anything you could suggest regarding this? I’m from Canada
0 Theft but some interesting stories for sure. Might do a video on one of my worst experiences. But overall I'd say 90-95% of the trips go SPLENDID. For us here in the U.S. the total loss or theft is up to $3million up to the value of the car - luckily haven't had any issues related to that to need it and I've done over 200+ trips. I definitely would read the terms with Turo in specifics to Canada but overall as long as you have enough equity in the car to equal or be above the loan, you should be good even IN WORST CASE SCENARIOS. But again, it totally depends on your situation. Feel free to reply with any questions I might be able to answer, always happy to help!
I have a serious question. Right now I’m in the process of rebuilding my credit and when I do I’m gonna start my turo business and apply for a business loan. Is it a good idea to apply for a business loan to start my turo business and buy 5 cash cars and one luxury/car note vehicle to start with and build from there ?
Hey there! Yeah, happy to help where I can. Personally I’d do it in cash or very very very low interest loan. Also, be aware that many financial institutions won’t lend you the money for a business loan (especially for 5 card) unless you have good business credit. Not impossible just very tricky. When selecting cars be very picky and bargain hard. Also, double check the limitations on the kind of cars you can rent on Turo in terms of age and mileage (might change when you actually go to apply). I’ll be honest, my Prius was the best bang for my buck and there a ton of other cars like it. I’d also assess your area for demand of type of car and likely avoid anything off road or race car style, people DESTROY those. Hope this helps! Feel free to ask any other questions and I’m happy to help!
Just found out about your channel. Quality stuff brother
Welcome aboard!! Thanks for the love and hope you enjoy ✊✊✊
Great content. Thanks for sharing it with us.
Glad you enjoyed it! Thanks for watching!! Much love ❤️
You had to do all these upgrades and fixes to the car.
Cleaning, Tires, windshields, maintenance... you might as well open a car center.
Haha trueee 😂 Turo/ride sharing specific car center? Might do pretty well actually
But I should’ve mentioned that the model 3 and model y have nearly 0 maintenance besides the windshield, tires and cleaning.
Why go out and buy expensive cars? Most people won't rent it most of the time depending on the market needs, economy vehicles, and SUVs
I wouldn’t consider my Prius or model 3 expensive? Plus the model Y is an SUV. We also have an amazing tourist community for the winter and all my cars are AWD - which means they get rented all year round. It’s all about the market in your particular area
@happytoberu the way you described it was like it wasn't getting rented all year long and I mean a real SUV one with more leg room in the third row not a crossover size type of vehicle and a lot of people aren't into electric have to keep that in mind too
How much would your profit go up if you bought your 2 teslas you've had, at current market values of 20k for model 3 and 30k model y
Using the last 3 months of data, break even
How much did you buy these for ?
Brand new on the model y and the model 3. So sticker price. The Prius was lightly used with 1 owner, 16K miles on it, 28K. So all in about 140K pre tax/registration
Hello Sir, I’ve been thinking about putting my car on turo for a while but also wondering, what if there is a total loss or theft while the car is with the guest? Turo only covers upto the current market value which is mostly a lot less than the remaining loan amount. Is there anything you could suggest regarding this? I’m from Canada
0 Theft but some interesting stories for sure. Might do a video on one of my worst experiences. But overall I'd say 90-95% of the trips go SPLENDID.
For us here in the U.S. the total loss or theft is up to $3million up to the value of the car - luckily haven't had any issues related to that to need it and I've done over 200+ trips.
I definitely would read the terms with Turo in specifics to Canada but overall as long as you have enough equity in the car to equal or be above the loan, you should be good even IN WORST CASE SCENARIOS. But again, it totally depends on your situation.
Feel free to reply with any questions I might be able to answer, always happy to help!
I have a serious question. Right now I’m in the process of rebuilding my credit and when I do I’m gonna start my turo business and apply for a business loan. Is it a good idea to apply for a business loan to start my turo business and buy 5 cash cars and one luxury/car note vehicle to start with and build from there ?
Hey there! Yeah, happy to help where I can. Personally I’d do it in cash or very very very low interest loan. Also, be aware that many financial institutions won’t lend you the money for a business loan (especially for 5 card) unless you have good business credit. Not impossible just very tricky. When selecting cars be very picky and bargain hard. Also, double check the limitations on the kind of cars you can rent on Turo in terms of age and mileage (might change when you actually go to apply). I’ll be honest, my Prius was the best bang for my buck and there a ton of other cars like it. I’d also assess your area for demand of type of car and likely avoid anything off road or race car style, people DESTROY those. Hope this helps! Feel free to ask any other questions and I’m happy to help!
@@happytoberu thank you so much
So glad I’m done, wasn’t worth it after taxes
Were you doing your own taxes? Like writing off depreciation and such?
79 insurance?????
Root Insurance. Found a loophole
I was going to ask the same thing. Do you mind to share it? My insurance on Tesla Model Y is around $220.@@happytoberu
@@happytoberuroot insurance you say?