Anyone rent out a personal vehicle on Turo?

Twisted2v · Oct 14, 2018

Turo is a website where you can rent out your personal vehicles. The daily rates that people charge are so high, they could pay a monthly payment in 2 or 3 days rented.

This has me thinking that I could buy a S550 5.0 with an extended warranty, or maybe one that is priced low from a prior accident or minor flood, and rent it out for a couple days or more, and make money.

Does this seem like a bad idea?

MG0h3 · Oct 14, 2018

Twisted2v said:
Turo is a website where you can rent out your personal vehicles. The daily rates that people charge are so high, they could pay a monthly payment in 2 or 3 days rented.

This has me thinking that I could buy a S550 5.0 with an extended warranty, or maybe one that is priced low from a prior accident or minor flood, and rent it out for a couple days or more, and make money.

Does this seem like a bad idea?

Interesting. Why would someone do that? To rent a performance vehicle?

As a renter, I'd feel much more comfortable renting a basically brand new vehicle from a commercial joint that I know is maintained and somewhat hassle free.

On your end you have to get extra insurance Im sure as well as make sure that they have insurance. I could see a lot of hassles that may not make it worth it on low volume. What happens when they wreck and hurt somebody? I know it wouldn't be your fault but you can sue anybody for anything.

If I did something like this I would not do a 5.0 but a 14k shitbox brand new.

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Twisted2v · Oct 14, 2018

A 5.0 would be demand a high rate, and likely less demand so less rent days and hassle. Does it matter if it's a 5.0, when it's a money making asset?

SolarYellow · Oct 14, 2018

Twisted2v said:
Does this seem like a bad idea?

If you must ask, it's a bad idea.

DSG2003Mach1 · Oct 14, 2018

That’s the rate on turbo but I’d have to imagine they take a chunk - how much would be my question

DAVESVT2000 · Oct 14, 2018

If you’re renting out your car for money, that would put your insurance in a whole different category, and Your rates would likely go up much higher.

BigPoppa · Oct 14, 2018

I've seen enough horror story videos from people who have on YouTube that I've decided it wasn't for me.

sleek98 · Oct 14, 2018

I think Turo takes 30% for insurance and their cut. Plus whos going to rent a 5.0 and not do massive burn outs or runs in mexico with it? Would never consider it if its a manual.

Twisted2v · Oct 14, 2018

sleek98 said:
I think Turo takes 30% for insurance and their cut. Plus whos going to rent a 5.0 and not do massive burn outs or runs in mexico with it? Would never consider it if its a manual.

I see some of the risks. I think that's why you get a rebuilt/flood title one. Plus you charge a premium rate.

I'd like to get a 5.0 to drive on occasion, and plus I work in an industrial area. Why not just get a S550 I don't have to baby and will make money instead of eating away wealth? It's just a car. I think as enthusiasts, we overvalued them.

svtfocus2cobra · Oct 14, 2018

Twisted2v said:
Turo is a website where you can rent out your personal vehicles. The daily rates that people charge are so high, they could pay a monthly payment in 2 or 3 days rented.

This has me thinking that I could buy a S550 5.0 with an extended warranty, or maybe one that is priced low from a prior accident or minor flood, and rent it out for a couple days or more, and make money.

Does this seem like a bad idea?

I will tell you this: I had a customer who rented out all of his vehicles on Turo. He had a 2017 Colorado ZR2, a 2015 Challenger Scat Pack, a newer CX9 and an MPV van. The Colorado came in because the whole front end got wiped out by a tree stump and the sides were scratched up by tree branches, and the dash was busted. Turo covered the major repairs to the front end but only allowed us to buff the scratches on the sides which didnt fully fix the issue. They didnt want to fix the dash claiming it was unrelated but the owner fought with them over it. The estimate was like $9k and that was all from someone who rented it out. This guys $50k new truck looked like shit even after we fixed it because it was just beat to hell by rentals. My last job revolved around rental vehicles and they are by and far the most abused vehicles on the road so keep that in mind. With Turo you are responsible for repairs as a renter but some people just dont care or dont think they will break anything.

The owner was making tons of money by renting them out but in reality he was just paying the notes on each of these cars. He was one of those fake baller types. So you could make money from it but I guarantee your car is going to get beat to shit. Mechanical issues could arise and you may not be able to get them covered by Turo because they will argue that it was unrelated to a particular rental by another customer. They act just like an insurance company.

BigPoppa · Oct 14, 2018

Twisted2v said:
I see some of the risks. I think that's why you get a rebuilt/flood title one. Plus you charge a premium rate.

I'd like to get a 5.0 to drive on occasion, and plus I work in an industrial area. Why not just get a S550 I don't have to baby and will make money instead of eating away wealth? It's just a car. I think as enthusiasts, we overvalued

The salvage title idea was awesome.....but, I just checked their terms and they don't allow any branded title cars.

scott_0 · Oct 14, 2018

can't say it's a good idea lol

Twisted2v · Oct 14, 2018

svtfocus2cobra said:
I will tell you this: I had a customer who rented out all of his vehicles on Turo. He had a 2017 Colorado ZR2, a 2015 Challenger Scat Pack, a newer CX9 and an MPV van. The Colorado came in because the whole front end got wiped out by a tree stump and the sides were scratched up by tree branches, and the dash was busted. Turo covered the major repairs to the front end but only allowed us to buff the scratches on the sides which didnt fully fix the issue. They didnt want to fix the dash claiming it was unrelated but the owner fought with them over it. The estimate was like $9k and that was all from someone who rented it out. This guys $50k new truck looked like shit even after we fixed it because it was just beat to hell by rentals. My last job revolved around rental vehicles and they are by and far the most abused vehicles on the road so keep that in mind. With Turo you are responsible for repairs as a renter but some people just dont care or dont think they will break anything.

The owner was making tons of money by renting them out but in reality he was just paying the notes on each of these cars. He was one of those fake baller types. So you could make money from it but I guarantee your car is going to get beat to shit. Mechanical issues could arise and you may not be able to get them covered by Turo because they will argue that it was unrelated to a particular rental by another customer. They act just like an insurance company.

I think I have to expect the car to be run into the ground. Everything is rented these days including Lambo's. If the daily rental price of your 5.0 is super high, its likely the people that can afford it probably take better care of it.

If I work in this industrial area, the car is going to see its wear and tear anyway.

svtfocus2cobra · Oct 14, 2018

Twisted2v said:
I think I have to expect the car to be run into the ground. Everything is rented these days including Lambo's. If the daily rental price of your 5.0 is super high, its likely the people that can afford it probably take better care of it.

If I work in this industrial area, the car is going to see its wear and tear anyway.

As long as you are prepared for it and prepared for a lot of it to go unfixed. There was a lot of major wear and tear on his Colorado that wasn't covered. For example, his driver rocker panel paint was completely worn off by the sill plate. That's typically wear and tear that wouldn't occur until years down the road and is probably $200-300 to fix. Just stuff like that you have to expect.

RedRocketMike · Oct 15, 2018

I considered renting one of my cars out. I was going to leave the tune so neutered that you couldn't do anything with it.

RedVenom48 · Oct 15, 2018

My guess is that this would void any factory warranty as well.

If you see it as simply a depreciating asset that you can profit from, then sure. But have it be a personal vehicle?

So the plan is to buy a new(ish) Mustang, rent it to make the payment then keep it when its done being paid for.

I don't know about you but I don't want to buy a new car and have it beat to absolute death. When your done renting it and want to keep it as a personal car, its a beat up shit box that looks cool assuming the car hasn't been wrecked before that happens.

pass

nxhappy · Oct 20, 2018

if you want your car ****ing destroyed ...... go ahead

96 cobra · Oct 21, 2018

I can just imagine the YT vid titles...

"How we knocked a full two seconds off a turo S550 with teh NOSS!1"

"We filmed scat porn in a turo S550 #soupkitchen!! X)"

PaxtonShelby · Oct 21, 2018

I would never do this with a car I owned. There are other ways to make money.

I’d think if you charge a premium for renting your car, then people are going to be sure to “get their money’s worth” by beating the living hell out of it. Even morons have money these days...IMO the higher rate just keeps less people from renting it.

Buckwheat 1 · Oct 21, 2018

My Cobra has a valet tune with 3.5 k rpm and 70 mph top end. I would rent it.

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Anyone rent out a personal vehicle on Turo?

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