The Truth About Renting Out Cheap Cars On Turo...
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- Опубликовано: 7 фев 2025
- Have you wondered if renting cheap cars out on turo is worth in? In this video we share how we built a 6 figure business by renting out economy cars on the Turo platform.
We talk about many hidden truths on renting cheap cars that will help you save time and money if you're looking to get started. We talk about common mistakes, how i acquire and how much i earn renting out cheap cars on Turo.
Don't miss the best practices for renting economy cars, customer expectations, insurance claims & more
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Once you start getting into a double digit car fleet, what do you recommend as far as where to keep the cars?
All depends on your area and how big you want to get but either rent or buy a lot or location.
Awesome info, I currently have 5 economy vehicles so far. Hoping to scale to 10-15 throughout next year. Thanks Coach.
You are welcome! If you need help expanding go to carrentalcoach.com and book a call with my team.
DO NOT TRUST THESE PEOPLE!! They are FRAUDSTERS!! My account has been FROZEN after doing business with these wannabes! Don’t fall for their scams!
Great video and agree - my concerns are the guests that don't review are apparently going to have a negative impact on your score. Also I fine some guests still want all the bells and whistles on cheap economy cars at a cheap price.
Great points! We will see how the new review system plays out over the next few months.
I have 20 cars. I now have commercial line of credit and I won’t be using anymore of my own money. I don’t care that the margin is tighter since all borrowing costs are deductible and that effectively gives you tax free income once you factor in depreciation. If it stops being a viable venture at least I can bail on the banks money and not my own. It’s all the same. Little more risk overall but still the same game. Just have to be able to live on the edge a little and be prepared to flip out.
DO NOT TRUST THESE PEOPLE!! They are FRAUDSTERS!! My account has been FROZEN after doing business with these wannabes! Don’t fall for their scams!
Really love this update!
Glad you enjoy it!
DO NOT TRUST THESE PEOPLE!! They are FRAUDSTERS!! My account has been FROZEN after doing business with these wannabes! Don’t fall for their scams!
A lot of cars that were removed didn’t have issues. I know for certain one of mines was delisted for no real reason. I had one customers say a light went out while on trip & another ask about a small shake at take off but both customers still left good reviews bcuz for one I offered to immediately change the light & the other issue was just another thing that happened while on a trip but I went to get it checked multiple times with no mechanic saying anything was wrong so I sent them a screenshot of my print out from the concern. The car had a 4.97 rating
We have heard this a lot!
If the older car just has a reputation for having mechanical issues they got unlisted
@@garyj49 wasn’t that old of a car. 2017 impala and it has perfect rating on other platforms. And it had 4.97 on Turo
@@qa777 they have a reputation for being bad cars. My friend had a 2017 Caravan removed with a 4.8 rating and they have a reputation for being bad cars.
What insurance do you use? My insurance progressive dropped me after a renter was rear ended only a minor accident $3500 but they cited the car being rented out as a reason for dropping.!
I recommend a few different ones but right now I have Tint. How many cars do you have?
@ I have 2 vehicles, 2 are 100% Turo and 1 is mixed personal and Turo
Do you have car seats added? I'm going too take this advice in comparison too luxury EVs, and go too Eco EVs.
I don’t add car seats or extras.
Thanks for sharing your experiences. I do have a couple questions. At 03:57 you talk about the BMW getting totaled. Why would it matter whether the guest was at fault or not? The way I understand it is you"re covered by Turo for the current value of the vehicle. (I've been paid out by Turo for two totaled vehicles and luckily, like you mention with your other car later (17:40ish), came out ahead in both situations because I had purchased for less than the vehicle's value). My other question is about what is stated shortly after around 04:26 that your Fiesta was bringing in "around $4k at that time"......do you mean that over those three or four months, it had brought in around $4k by that time, or that it was literally bringing in $4k per month? ($133/day). Thank you in advance for any clarification. Great advice about importance of taking clear and many pics of the vehicle!!
Hi there! Turo will cover you if it is or is not the guest fault. Sometimes you can go after their personal insurance which can make a big difference. The Fiesta was bringing in that money over a couple of months. I wish it was in one month!
I would like start this business.
Book a call with us at carrentalcoach.com
what are your thoughts on getting a tesla model s used between $11k-13k that has unlimted lifetime supercharging on turo? If I were to undercut the market with it i think it could do well at $60/day and make back initial investment within a year and some change
I would have to look at your market but that is a good price point to get it at.
Will you be a power host on January 16th?
Yes, I know a lot of people that will not be. I think Turo is going to change the requirements because counting non reviews as a negative really hurts larger hosts.
27:50 all your economy cars clear at least $1000 per month. How do you do that????
Keep them on the road rented. We really focus on utilization and understanding how to get the most for every trip.
With the new review system it is harder to be an all star host or a power host. Now when a guest doesn’t leave a review it counts as a zero stars review. So it us better to have a guest leaving a 1 star review than no review.
I agree with you!
DO NOT TRUST THESE PEOPLE!! They are FRAUDSTERS!! My account has been FROZEN after doing business with these wannabes! Don’t fall for their scams!
DO NOT TRUST THESE PEOPLE!! They are FRAUDSTERS!! My account has been FROZEN after doing business with these wannabes! Don’t fall for their scams!
DO NOT TRUST THESE PEOPLE!! They are FRAUDSTERS!! My account has been FROZEN after doing business with these wannabes! Don’t fall for their scams!
DO NOT TRUST THESE PEOPLE!! They are FRAUDSTERS!! My account has been FROZEN after doing business with these wannabes! Don’t fall for their scams!