Hey, thanks for the video. Please keep on doing these. I plan on buying a newer car so I can put that on Turo. Do you know if I can add a car on a PCP or PCH?
I dont think theres an issue at turos end with car being on finance. In theory could go against terms and conditions of lender but they wont really know
Thanks for the video i hope you do that more often, in terms of the daily changes i think 28£ is really cheap you might consider at least getting a 300£ to 400£ in one month rent
@@JohnsMotoring thanks, just saw your previous vid. I’m struggling with how they may drive my personal car but I might just buy a cheap car from auction and have it as a second car to generate a small income. Also concerned how difficult it would be to sort out disputes on small damages, fuel, speeding fines, parking fines, as life is difficult enough with out getting more headaches
Hi John, can I ask whether you plan to resell your hire car? Hiyacar's website recommends selling your hire vehicle 2 - 3 years after purchase, and that failure to do so limits profits. Is this because as the mileage goes up over years, less prople want to hire? I'm considering doing this, but dont want to sell my car JUST as the renting finally pays off the cost of the vehicle. Thanks.
Your aim would be to pay off the car as quick as possible including maintenance costs then sell the car while it is still in relatively good condition. If you bought the car for £7000 and managed to make that back in 18 months. You could probably still get 4000/4500 for it, and that would be your profit for that period...
Paid off in 2 years roughly, but a 5k car used as a rental solid for 2 years will be battered and worthless after the 2 years.
Can you start your own business without relying on Turo?
thanks m8,very informative
Hey, thanks for the video. Please keep on doing these. I plan on buying a newer car so I can put that on Turo. Do you know if I can add a car on a PCP or PCH?
I dont think theres an issue at turos end with car being on finance. In theory could go against terms and conditions of lender but they wont really know
How does the tax and vat work out and depreciation costs on the vehicle#
Thanks for the video i hope you do that more often, in terms of the daily changes i think 28£ is really cheap you might consider at least getting a 300£ to 400£ in one month rent
Where you located bro?
Sounds good. What kind of insurance do you need to take out to cover your self and customers? As I have just fully comp only
I have fully comp on a multi car policy and then the borrower will be covered by their own insurance through the app
@@JohnsMotoring thanks, just saw your previous vid. I’m struggling with how they may drive my personal car but I might just buy a cheap car from auction and have it as a second car to generate a small income. Also concerned how difficult it would be to sort out disputes on small damages, fuel, speeding fines, parking fines, as life is difficult enough with out getting more headaches
@@JohnsMotoring Is this your own personal insurance that you pay for or is it via turo
@@MA-rf6sg personal insurance on a multi car
peanuts, not worth it at all
Think about scaling no1 makes money in the beginning of anything
Hi John, can I ask whether you plan to resell your hire car? Hiyacar's website recommends selling your hire vehicle 2 - 3 years after purchase, and that failure to do so limits profits.
Is this because as the mileage goes up over years, less prople want to hire? I'm considering doing this, but dont want to sell my car JUST as the renting finally pays off the cost of the vehicle. Thanks.
Your aim would be to pay off the car as quick as possible including maintenance costs then sell the car while it is still in relatively good condition.
If you bought the car for £7000 and managed to make that back in 18 months. You could probably still get 4000/4500 for it, and that would be your profit for that period...