We've got 5 in our fleet in Salt Lake City. 4 Cadillacs and a Honda Odyssey. Our Escalade and our Odyssey are cash cows. The other 3 Cadillac sedans are maximum effort with minimum gains. Looking to dump them and get another Escalade.
The new one may not make more per day but it will last longer and you won’t have any major maintenance costs for a while vs the possibility of and engine or tranny going out along with brakes tires etc on the 10 Year old Kia. I think a healthy mix of new and old is a good way to spread your risk.
I regret going too deep on Turo, cars in general are depreciating assets on top with maintenance and accidents, im just waiting for the remaining loans to be paid off and go back to investing in real assets (real estate)
You may have better success with a "cheaper cash car" model. Its hard to justify the actual profit when taking into account true depreciation. But when you wait, find a cheaper qualified vehicle near the end of its depreciation (Toyota/Honda if you're lucky) your risk is much lower especially when the total price of the vehicle can be recouped in 1 year or less. But thats for my market, yours may not be as forgiving
@@JKstoneT240 I only have cheap cars, less than 15k. But the time and effort is not worth the ROI. It was back in 2021 & 2022 but now there is too much competition and it’s a race to the bottom in prices. The party is overcrowded
Too much headache with guests, insurance, turo support, repairing cars and In the end loosing car value. Remember Turo goal is do not spend money on inventory and place all expenses on hosts. Good luck with that. But what you can do - start selling courses how to make money on Turo 😂
Name one business without headaches. Even the McDonald's drive thru clerk has headaches with the job. This is definitely not for everyone, and if you don't know how to do at least basic maintenance or know very little about cars, you are 100% correct. But like any business, you have to have your angle and niche. This business is not for 85% of the people out there. Hands down. This is a business, and most people will not or can not see this through business owner eyes. Note, I do not agree with this channel on many things, but multiple sources of information will help find what works for each individual. Turo support has been phenomenal with me so long as I have had everything documented, which I do. It takes less than 5 minutes to document, so why not? I just got reimbursed for improper return because a guest returned a car to a "banned" lot at the airport. I give very specific information hours before their return time so they can avoid this, but I can not make them read it. I absolutely claimed that because it put me at jeopardy if the airport tag reader flags that vehicle. If you repair your own cars, the cost is minimal. I replaced spark plugs and coil pack on my 2015 Cruze for $70 in parts vs $300+ depending on where and who is near you. Every company's goal is to make everyone else pay their bills.
Another great episode! One question I have.... Do you have a car calculator website to recommend? I think Turo's calculator isn't very detailed. I'm interested in starting as a new Turo host with a 2017 Mini Cooper 4 DR hardtop in Roseville, CA (near Sacramento area). Currently, there are no Minis in Turo's inventory in the greater Sacramento metroplex and I'm curious how this car would perform on Turo. Thank you in advance! -ChrisJohn
If you can pay cash for a car, and if you can do your own maintenance and cleaning, and if you live close to a major airport, and if your cars don't get in any accidents, you can make money. The truth is that being a Turo host is no different from any other job: If you don't work, you won't make money. You can fry burgers, do mobile car detailing, a million things. All of them require time and effort, just like Turo. There are no secrets, no tricks, and no guarantees. Talk to the Turo hosts whose cars get into accidents and they pay out many thousands in repairs, or the hosts whose cars get recalled and are off line for months. Turo is just another job.
How can someone make money on Turo, when most of the hosts charge the same or even more than the big car rental companies? i.e. Hertz, Alamo, Enterprise, Fox, Sixx, Budget, Avis...etc. Why would a customer rent from Turo, when the above companies charge the same or less? And, you forgot to mention that the above companies can also buy the above cars new, with a corporate fleet discount too. Whereas, you as a small business don't have that purchasing power to lower the initial purchase price, as you are not buying in volume. 🤔🤔🤔🤔
We've got 5 in our fleet in Salt Lake City. 4 Cadillacs and a Honda Odyssey. Our Escalade and our Odyssey are cash cows. The other 3 Cadillac sedans are maximum effort with minimum gains.
Looking to dump them and get another Escalade.
The new one may not make more per day but it will last longer and you won’t have any major maintenance costs for a while vs the possibility of and engine or tranny going out along with brakes tires etc on the 10
Year old Kia. I think a healthy mix of new and old is a good way to spread your risk.
I regret going too deep on Turo, cars in general are depreciating assets on top with maintenance and accidents, im just waiting for the remaining loans to be paid off and go back to investing in real assets (real estate)
Very well said!
You may have better success with a "cheaper cash car" model. Its hard to justify the actual profit when taking into account true depreciation. But when you wait, find a cheaper qualified vehicle near the end of its depreciation (Toyota/Honda if you're lucky) your risk is much lower especially when the total price of the vehicle can be recouped in 1 year or less. But thats for my market, yours may not be as forgiving
@@JKstoneT240 I only have cheap cars, less than 15k. But the time and effort is not worth the ROI. It was back in 2021 & 2022 but now there is too much competition and it’s a race to the bottom in prices. The party is overcrowded
It’s really an auto mechanic / cleaning business
One of my favorite subjects!
Good video, Aubrey
Too much headache with guests, insurance, turo support, repairing cars and In the end loosing car value. Remember Turo goal is do not spend money on inventory and place all expenses on hosts. Good luck with that. But what you can do - start selling courses how to make money on Turo 😂
Name one business without headaches. Even the McDonald's drive thru clerk has headaches with the job. This is definitely not for everyone, and if you don't know how to do at least basic maintenance or know very little about cars, you are 100% correct. But like any business, you have to have your angle and niche. This business is not for 85% of the people out there. Hands down. This is a business, and most people will not or can not see this through business owner eyes. Note, I do not agree with this channel on many things, but multiple sources of information will help find what works for each individual.
Turo support has been phenomenal with me so long as I have had everything documented, which I do. It takes less than 5 minutes to document, so why not? I just got reimbursed for improper return because a guest returned a car to a "banned" lot at the airport. I give very specific information hours before their return time so they can avoid this, but I can not make them read it. I absolutely claimed that because it put me at jeopardy if the airport tag reader flags that vehicle. If you repair your own cars, the cost is minimal. I replaced spark plugs and coil pack on my 2015 Cruze for $70 in parts vs $300+ depending on where and who is near you. Every company's goal is to make everyone else pay their bills.
Another great episode!
One question I have.... Do you have a car calculator website to recommend? I think Turo's calculator isn't very detailed.
I'm interested in starting as a new Turo host with a 2017 Mini Cooper 4 DR hardtop in Roseville, CA (near Sacramento area).
Currently, there are no Minis in Turo's inventory in the greater Sacramento metroplex and I'm curious how this car would perform on Turo.
Thank you in advance!
-ChrisJohn
If you can pay cash for a car, and if you can do your own maintenance and cleaning, and if you live close to a major airport, and if your cars don't get in any accidents, you can make money. The truth is that being a Turo host is no different from any other job: If you don't work, you won't make money. You can fry burgers, do mobile car detailing, a million things. All of them require time and effort, just like Turo. There are no secrets, no tricks, and no guarantees. Talk to the Turo hosts whose cars get into accidents and they pay out many thousands in repairs, or the hosts whose cars get recalled and are off line for months. Turo is just another job.
How can someone make money on Turo, when most of the hosts charge the same or even more than the big car rental companies? i.e. Hertz, Alamo, Enterprise, Fox, Sixx, Budget, Avis...etc.
Why would a customer rent from Turo, when the above companies charge the same or less?
And, you forgot to mention that the above companies can also buy the above cars new, with a corporate fleet discount too. Whereas, you as a small business don't have that purchasing power to lower the initial purchase price, as you are not buying in volume.
🤔🤔🤔🤔
Wow 12 for a car wash is alot compared to my area
What is the oldest u can use and how many miles
10 years since current year and 130k miles .
Mahalo
First!!! 😀
dang she could've at least given you a like 😆
2nd