Anyone on here renting out their car on Turo??

[JordanWearinThe45]

Turo – Rent unique cars or earn money renting your car.



This might be a nice little hustle. Lease a nice luxury car and rent it out. You can undercut everybody else by $50-100 if you wanna be competitive.

For example a new 7 series lease is $689:

*2016 BMW 750i Sedan | Stk#5BL99375. Based on MSRP: $103,895. Lease for 36 Months. Includes 7,500 miles. $5,250 refundable deposit. $10,389 down payment, plus $925 acquisition fee, $899 dealer fee, tax, tag, title and state fees

I'm sure you can negotiate a lesser down payment amount and pay more a month.

But at $700 a month plus $150-200 for insurance your at $900 a month. You can rent the car out for say $300? (I'm seeing a lot of sclasses for $350) so if you rent it for just 3 days a month you have a free 7 Series, rest is straight profit(well going to recoup your down payment money). You can even go up on price if it's an event or something going on in your city and cake.

 

[GoGetMyDamnBelt_]

Surprised more people dont jump on this. I got a simple 2014 Kia Forte & my payments is $430/month for 24 months. I set my car up on the site to rent out $35/day and I eat pretty good off of it. Matter fact, I just rented my car out to a chick about an hour ago for 4 days and was informed that I earned $103 for it plus toll & gas reimbursement.

 

[Hahahaha]

How does insurance work on it? I'd rent mine out on weekends.

 

[The Coochie Assassin]

A lot of people don't know about Turo yet, I've had the app for at least 1.5 years. I think I first downloaded it when the name wasn't even Turo.

shyt some people aren't even aware of airbnb yet lol.

 

[Hard Times Nakamura]

This is a great strategy for people who live near airports. In fact the GOAT strategy (which I'm comfortable sharing cause most people won't put in the effort or legwork to complete) is to buy a property with cash, AirBnB the shyt out of it then buy a car there too and add the car in via Turo and watch the dollars roll in.

Pay a neighbor a cut to keep an eye on things maybe 20% commission or something like that. Only in some of the less raucous areas maybe like Charlotte or Wilmington.

 

[Lv99 Slacker]

This is a great strategy for people who live near airports. In fact the GOAT strategy (which I'm comfortable sharing cause most people won't put in the effort or legwork to complete) is to buy a property with cash, AirBnB the shyt out of it then buy a car there too and add the car in via Turo and watch the dollars roll in.

Pay a neighbor a cut to keep an eye on things maybe 20% commission or something like that. Only in some of the less raucous areas maybe like Charlotte or Wilmington.

Are you currently doing this? What's your setup like?

 

[Hard Times Nakamura]

Are you currently doing this? What's your setup like?

Nope I just got a job with a major company that has a big branch in DE that I'll be traveling to a couple of times a year.

I have been floating the idea around since maybe a year ago because of Black AirBnB (NoirBnB) which is poised to hopefully be available soon.

 

[JordanWearinThe45]

How does insurance work on it? I'd rent mine out on weekends.

Turo itself provides the insurance i believe

 

[JordanWearinThe45]

Surprised more people dont jump on this. I got a simple 2014 Kia Forte & my payments is $430/month for 24 months. I set my car up on the site to rent out $35/day and I eat pretty good off of it. Matter fact, I just rented my car out to a chick about an hour ago for 4 days and was informed that I earned $103 for it plus toll & gas reimbursement.

Damn thats dope af Kia forte leases are like $150 a month (With good credit, which i have)

 

[GoGetMyDamnBelt_]

How does insurance work on it? I'd rent mine out on weekends.

Turo itself provides the insurance i believe

Turo does provide the insurance but the insurance plan you select for your car to have is what the company percentage cut comes from. Like the top premium insurance plan has $1million liability, zero out of pocket expense, coverage for interior and exterior damage including wear & tear & some other perks I can't remember on the top of my head. If you select that plan then the company cut would be 35% & yours 65%.
I selected the standard insurance plan which includes the premium benefits ($1 million liability coverage, zero outta pocket expense) but no interior damage coverage. For that plan, I take home 75% and Turo takes 25%.

Damn thats dope af Kia forte leases are like $150 a month (With good credit, which i have)

Jump on it. You don't necessarily have to go with the Forte but problem with the lease is the mileage cap you can't go over. Using Turo, mileage can add up quickly on the car.

 

[Rawtid]

The way people are whoring out their personals for money this day in age, is weird to me. I just cant get with rando strangers in my stuff, even if it is for money.

 

[JahFocus CS]