Great video. I really do think there’s more to it than what Turo considers profitable. I began 6 months ago and have scaled from 1 car and now at 6 cars, and I’m planning on purchasing 5 more cars at the end of the month. There’s great loop holes in the credit game in which you can finance many things before it shows up on your credit profile. As well I have 2 Nissan Altimas, 2 Hyundai Elantras, 1 BMW 3 series and a truck. To be quite frank, all my vehicles make me a clean profit of 600-800$ a month and that’s after insurance, car wash membership and monthly payments. I think the key is to find affordable insurance in which I have LULA and I pay $79 a month per car, car wash memberships are $20 per car, and the way you scale on smoking fees, late returns and fuel reimbursements, in which they don’t actually reflect on your true earnings per vehicle nor reimbursements. I have sat down to actually run it and it’s usually more money than what they state on the vehicles. I did take the route that you stated of cheap affordable vehicles, with volume and I only lose out on 2-3 days of the car sitting. There has been a massive change when I did enter and my prices were way higher and I have had to drop my prices overall almost by $10 per vehicle. I do think that it’s due to a lot of new hosts, the crisis of the economy and other major factors such as major companies lowering their prices to kick us off the market. I do at times get often nervous wondering is Turo long term since I do feel I stepped into this market late, but hey who knows worst case scenario you sell your vehicles and call it a day. I personally would stop doing Turo once I touch 30 cars, at that point I’ll open up my own private rental fleet. I would like to have a higher end vehicle for the platform, maybe a Corvette C8, maybe an M3, or any in that sort with good generating numbers. Any ideas, suggestions or constructive criticism y’all would like to give me? Thanks in advanced and I love your videos! Been watching them since January, you were a boost into myself pulling vehicles from the lot 🖤
I have been in turo for a year and haven't been able to add any additional cars. My first car does AMAZING on the platform, but my financing eats my profits. My bad credit won't get me anywhere as a PG . Im stuck on this ride breaking even. I've def learned, and I'll know what to do if i start over. Your videos are heaven sent.
@josephtran-day6281 THANK YOU... working on improving my credit to qualify for a credit card. I got the LLC, and working on line of business. Dec will be 1 year with my LLC.
I'm a Turo power host myself and although I do agree to some of your comments, I disagree with most of what you said in the video. First things first, the price of the car is very subjective, in our market many chevy cruze sell for even around 3K, good ones with perfect condition generally cost around 7K on marketplace (2016 models are generally that price unless you want to buy newer models like 2018 or above) which is way less than the estimated price. Second thing is, the earnings itself is also subjective, except winters, most of my cars are at least 20 days out on rentals due to which my profit margins are great as well. I do agree there are miscellaneous costs that can come up but my numbers are way ahead of your estimates even with the cheapest car in my fleet. Another thing to note which you are not considering at all is when someone is financing their car, at the end of the day, they own the car not the person renting it, so even though the host's profits might be eaten up by the car payments, they are still turning a profit unless something's horribly wrong with their settings or pricing due to which they might not be getting bookings.
The fact that they have the fiesta and Focus is hilarious. They are ticking time bombs of transmissions unless you have the stick which severely limits your renting demographic
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Great video. I really do think there’s more to it than what Turo considers profitable. I began 6 months ago and have scaled from 1 car and now at 6 cars, and I’m planning on purchasing 5 more cars at the end of the month. There’s great loop holes in the credit game in which you can finance many things before it shows up on your credit profile. As well I have 2 Nissan Altimas, 2 Hyundai Elantras, 1 BMW 3 series and a truck. To be quite frank, all my vehicles make me a clean profit of 600-800$ a month and that’s after insurance, car wash membership and monthly payments. I think the key is to find affordable insurance in which I have LULA and I pay $79 a month per car, car wash memberships are $20 per car, and the way you scale on smoking fees, late returns and fuel reimbursements, in which they don’t actually reflect on your true earnings per vehicle nor reimbursements. I have sat down to actually run it and it’s usually more money than what they state on the vehicles. I did take the route that you stated of cheap affordable vehicles, with volume and I only lose out on 2-3 days of the car sitting. There has been a massive change when I did enter and my prices were way higher and I have had to drop my prices overall almost by $10 per vehicle. I do think that it’s due to a lot of new hosts, the crisis of the economy and other major factors such as major companies lowering their prices to kick us off the market. I do at times get often nervous wondering is Turo long term since I do feel I stepped into this market late, but hey who knows worst case scenario you sell your vehicles and call it a day. I personally would stop doing Turo once I touch 30 cars, at that point I’ll open up my own private rental fleet. I would like to have a higher end vehicle for the platform, maybe a Corvette C8, maybe an M3, or any in that sort with good generating numbers. Any ideas, suggestions or constructive criticism y’all would like to give me? Thanks in advanced and I love your videos! Been watching them since January, you were a boost into myself pulling vehicles from the lot 🖤
Sounds like a recipe for disaster
and depending on how you're applying for those car notes, it's also known as "fraud"lol@@jordanhart9441
I have been in turo for a year and haven't been able to add any additional cars. My first car does AMAZING on the platform, but my financing eats my profits. My bad credit won't get me anywhere as a PG . Im stuck on this ride breaking even. I've def learned, and I'll know what to do if i start over. Your videos are heaven sent.
You put everything on your own credit thats why. You gotta create an llc and vuild. Business credit and loc
@josephtran-day6281 THANK YOU... working on improving my credit to qualify for a credit card. I got the LLC, and working on line of business. Dec will be 1 year with my LLC.
Co-host extra vechicles any of your contacts may have, do a profit share.
Saimah is a scam Shes charging a laughable $396 for courses for Turo when SHE dioes not even make Money on Turo anymore
I'm a Turo power host myself and although I do agree to some of your comments, I disagree with most of what you said in the video. First things first, the price of the car is very subjective, in our market many chevy cruze sell for even around 3K, good ones with perfect condition generally cost around 7K on marketplace (2016 models are generally that price unless you want to buy newer models like 2018 or above) which is way less than the estimated price. Second thing is, the earnings itself is also subjective, except winters, most of my cars are at least 20 days out on rentals due to which my profit margins are great as well. I do agree there are miscellaneous costs that can come up but my numbers are way ahead of your estimates even with the cheapest car in my fleet. Another thing to note which you are not considering at all is when someone is financing their car, at the end of the day, they own the car not the person renting it, so even though the host's profits might be eaten up by the car payments, they are still turning a profit unless something's horribly wrong with their settings or pricing due to which they might not be getting bookings.
The fact that they have the fiesta and Focus is hilarious. They are ticking time bombs of transmissions unless you have the stick which severely limits your renting demographic
That was the german dual clutch trans , she’s comparing newer cars
@@guysumpthin2974yes but the last fiesta made in the US had that in the Fiesta and I believe in the Focus too.
What year of the card?
What about higher end car ROI’s?
Coming up in my next video :)
Bigger income from high-end car , but bigger initial cost , more expensive maintenance & insurance, smaller percentage on return
You’re so beautiful