My experience: 125 a day on turo. Base off my insurance package with them i made about $93. The person who rented the car paid 300. So my car doesn't get booked often because that is not an appealing price for the customer because turo is charging nearly triple if the asking price and banking more than half. But like he said peace of mind turo handles all the headaches.
I started a regular LLC. description car rentals but thats pretty much it, I ran all the money I was making thru that account to make the car payments in hopes of building business credit but didnt get that far. I still had personal car insurance on the cars, so if you fully wanna run it thru the company. a "rental car company" it gonna cost you a lil more investment cause of the insurance policy your gonna have to get and its gonna be under business not personal. But starting the LLC or company is the easiest part, staying organized what's key
Wow, thanks for sharing your story. Can I please reach out to you? I’m in the rental car and car dealer business in Atlanta and I’m looking to connect with other rental companies for experiences like this.
@@DaveBright-ll6li hello! I’m actually looking for both. It’s hard to get quality referrals but also I am in search of a rental software that’s less antiquated than HQ.
yo bro i’m 20 years old and my credit score is 752 and i have 2 years worth of employment and employed do you think i should buy a newer car and rent it out ? Or should I start with an old car?
My advice is figure out which car is it you really want before pulling up to dealers, then go test drive them dont worry bout wasting the salesman time, its your vehicle take your time picking the right one. Get one with all the options or most the options in colors that are most popular that way ppl will want to rent it more and when its time to get rid of it, it'll hold its value somewhat.... as far as new or old it really dont matter. doesn't have to be the newest car of the year. Right now I rent both my Mercedes and they 2015-2016 nearly 8 yrs old, What's important is what cars ppl want to rent out?? if you in miami a good choice would be a mustang convertible or Camaro. the mustangs look nice starting from 2018 and up and run you under 30k and will stay rented! New or Older what's important is how much you paying for the vehicle (payment + ins) and will it stay rented? I have a friend who recently got the Lexus IS fully loaded F sport think the v8 version the most expensive one and he got it one turo nobody wants rent it at the price he had it up.... he has put it with the regular prices of a base Lexus IS cause only a certain type of client would want to rent that specific IS he got. So it's hard to cover those car payments now due to the vehicle he picked and the price is cost... also your Credit score nice especially at ur age #salute but still won't still might not hold much weight if you haven't had a loan (car loan) over 25-30k thats been paid off, I forgot to mention in this video that prior to me pulling out those cars 0 down I had bout 3-4 paid off cars under my belt 20-50k car loans paid off which means I had good credit car history. I'll explain in my next video how I got those cars paid off. Feel free ask me any other questions. best of luck to ya!
@@DJHAZE appreciate the advice man! i’m in boston ma so everything is expensive out here especially while being a student and a full time worker while trying to run up your own business but we all gotta start somewhere thank bro 💯🙏
No I haven’t it under different names, it’s best to make them different entities for liability purpose. One mistake in the Jetski business can have an affect on the car rental business and vica versa. At one point I had about 9-10 cars on Turo. At the moment I only have 2 up as I’m selling my last cars to get new ones
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Thanks Man! its all heart what you put here. God bless you Sir!
I'm experiencing the same thing in Chicago right now. And at the moment I'm running back to Turo.
Mannnnnn you a beast for this. Im bout to do this in Miami and start a private auto rental and website.
My experience: 125 a day on turo. Base off my insurance package with them i made about $93. The person who rented the car paid 300. So my car doesn't get booked often because that is not an appealing price for the customer because turo is charging nearly triple if the asking price and banking more than half. But like he said peace of mind turo handles all the headaches.
duro!!!! hermano!
Good advice and great story . So how did you go about setting it up . Did you register it as a rental company?
I started a regular LLC. description car rentals but thats pretty much it, I ran all the money I was making thru that account to make the car payments in hopes of building business credit but didnt get that far. I still had personal car insurance on the cars, so if you fully wanna run it thru the company. a "rental car company" it gonna cost you a lil more investment cause of the insurance policy your gonna have to get and its gonna be under business not personal. But starting the LLC or company is the easiest part, staying organized what's key
* make a biz bank account after u make LLC, then you got ur business bank account and there you begin your rental car company
Fire Advice
Thanks
That’s straight how you didn’t snitch on the guy
I have a question , how you charge customers after they return car. For example tickets or damages? Any software you use?
Wow, thanks for sharing your story. Can I please reach out to you? I’m in the rental car and car dealer business in Atlanta and I’m looking to connect with other rental companies for experiences like this.
Hello bianca do you need a car rental website or leads for your business
@@DaveBright-ll6li hello! I’m actually looking for both. It’s hard to get quality referrals but also I am in search of a rental software that’s less antiquated than HQ.
Hey do
You need commercial insurance when renting out the car
yo bro i’m 20 years old and my credit score is 752 and i have 2 years worth of employment and employed do you think i should buy a newer car and rent it out ? Or should I start with an old car?
My advice is figure out which car is it you really want before pulling up to dealers, then go test drive them dont worry bout wasting the salesman time, its your vehicle take your time picking the right one. Get one with all the options or most the options in colors that are most popular that way ppl will want to rent it more and when its time to get rid of it, it'll hold its value somewhat.... as far as new or old it really dont matter. doesn't have to be the newest car of the year. Right now I rent both my Mercedes and they 2015-2016 nearly 8 yrs old, What's important is what cars ppl want to rent out?? if you in miami a good choice would be a mustang convertible or Camaro. the mustangs look nice starting from 2018 and up and run you under 30k and will stay rented! New or Older what's important is how much you paying for the vehicle (payment + ins) and will it stay rented? I have a friend who recently got the Lexus IS fully loaded F sport think the v8 version the most expensive one and he got it one turo nobody wants rent it at the price he had it up.... he has put it with the regular prices of a base Lexus IS cause only a certain type of client would want to rent that specific IS he got. So it's hard to cover those car payments now due to the vehicle he picked and the price is cost... also your Credit score nice especially at ur age #salute but still won't still might not hold much weight if you haven't had a loan (car loan) over 25-30k thats been paid off, I forgot to mention in this video that prior to me pulling out those cars 0 down I had bout 3-4 paid off cars under my belt 20-50k car loans paid off which means I had good credit car history. I'll explain in my next video how I got those cars paid off. Feel free ask me any other questions. best of luck to ya!
@@DJHAZE appreciate the advice man! i’m in boston ma so everything is expensive out here especially while being a student and a full time worker while trying to run up your own business but we all gotta start somewhere thank bro 💯🙏
hello CeoRu do you need a car rental website or leads for your business
Hi, I wanted to know if you have the car rental company and the seadoo rental company under the same name... How many cars do you have on turo????
No I haven’t it under different names, it’s best to make them different entities for liability purpose. One mistake in the Jetski business can have an affect on the car rental business and vica versa. At one point I had about 9-10 cars on Turo. At the moment I only have 2 up as I’m selling my last cars to get new ones
*have it
Waste of video. Dude gave basic info instead of actually game. This is more of him telling us his life story.
hahaha bro you did not set this up correctly!