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Turo fees are crazy in LA and most of the time near 100% of the rental price. I found the same car cheaper at Hertz and Sixt.

@LynxStarAuto

11 ай бұрын

That's been the issue here in Miami as well. Plus Hertz and them are catching up and offering special incentives to make their products more competitive.

@erickvallad4189

11 ай бұрын

Agree with the comment about LA and Miami. It is very much true

@TwiceVisible

10 ай бұрын

On top of that, these Turo renters are desperate to get above water, now you are seeing $200 damage claims for dirt on the floor mats lmao

@usafwilkerson

5 ай бұрын

💯 and hosts are committing insurance fraud and turo is backing the host regardless or proof. I’m in LA county and I rented a Tesla. The host said there was mechanical damage and it had to be towed which wasn’t true. Then he submitted an estimate saying there was body damage and part of the aluminum body had to be replaced. His picture proof is him holding a measuring tape on the door. You can’t even see a scratch or any damage. I messaged the host and he said it was nothing and he took care of it himself. I sent the conversation plus the pics I took when I returned. Turo still charged me even with all the evidence showing the claim is false.

the "Race to the Bottom" happens on EVERY.SINGLE. platform where they bring users and service providers together in a "broker" type transaction. Uber, Lyft, Doordash, Instacart, and now Turo.

@untitled001tm

11 ай бұрын

This needs more likes.

@kelloggscuts1820

7 ай бұрын

I wonder if Airbnb is next 🤔

@drudru3149

7 ай бұрын

​@@kelloggscuts1820 during the cheap cash, the cash flow after expenses were already less than 1% of cost. Soo... They definitely in scolding waters

@MichaelSoltisOfficial

7 ай бұрын

Same with Amazon

@USDOTATF

7 ай бұрын

I wouldn’t say Uber, that’s a stretch. Everything else, yes.

Business 101 people enter The market pushing profits below zero the inefficient companies go out of business the efficient ones stay in business profits rise to 5%

Started renting out 2 paid off Camrys in Austin. Was going well, lots of bookings. Decided to stop and exit turo to focus on other things. Renting out cars takes up a lot of mental real estate.

I've been doing Turo for 4 1/2 years in the San Diego market catering mainly to tourists with SUV's and convertibles. I've paid cash for all my cars and now have 11 - VW's, BMW's and Mercedes. I get older ones typically with 100K miles that have taken the depreciation dump and do all the basic maintenance myself. I agree with your segment completely regarding the race to the bottom on pricing. I was doing great until the beginning of the 4th quarter of last year when I noticed a drop in demand for my cars. This has continued because while my cars are all in pristine shape, they average 10 years old and now I'm considering selling off most of my fleet as it's just not worth it. EG Last July with less cars I peaked at $9200, last month by contrast I only did $6500 with more cars. Turo now has more newer cars at very good prices because as you said people just want to make the payments.

As someone who got trapped in the rental/hire car business back in the late 1980's early 1990's. All what Lucky says here is spot on. Deprecation will kill you. Then there's mileage - a brand new S Class W140 put up 400,000 miles in 3 years being used a a Chauffeur Limousine service - car was scrap after the 3 years with lease payments till owed on it.

@LynxStarAuto

11 ай бұрын

The 140 chassis imo the last great Mercedes S class. Definitely my favorite of them all. Especially the coupes 😍

@TheOtomo

11 ай бұрын

Having worked as a used car salesman and buyer, we see a lot of cars with extreme high mileage coming through that are only 3 to 5 years old. This is always an indication that the car was used for 'gig work' (Turo, rideshare, deliveries) thus the value of the car plummets to near scrap levels quickly. The saturation of 'gig work' has led to a lot of people dumping their cars even if they are still paying the bank note. They are upside down on the car, owning more than the car is worth, leaving them in a bad position.

@ProfeAdventures

10 ай бұрын

If you didn't pay off the car after putting 400k miles in it. Gotta look into your financial decisions 😊

@willc5512

7 ай бұрын

​@ProfeAdventures Yeah 400,000 miles at over $3 a mile nobodys feeling sorry. They enjoy the income, dont save anything, then it all hits like a ton of bricks!

@edakarajillo

2 ай бұрын

​@@TheOtomoWise reflection, when you day a high mileage car, how many miles are you referring?. At your expert point of view in what point of mileage/years ratio a car is considered scrap?

Im in Raleigh, NC and ive got 4 Honda minivans and all month of July I only had about 5 days not being rented for each car. Prices are around $75-$90 a day and each of the vans I paid about $12k to $15k. They are all super reliable and easy to work on when things need to be fixed! I hate driving them but they sure do make some money!

@XX-166

11 ай бұрын

Different market demands that fit the need… that’s the point

@evansweere

11 ай бұрын

@@deepsix1827 Sick. So I'm making about $340 a day... The math is just not mathing to equal pennies. I put about 2 hours of work into it a week. That's pretty good returns for one of my many investments. Oh and I have almost 0 expenses because I paid cash for all my vehicles.

@XX-166

11 ай бұрын

@@deepsix1827 you buy the right cat at the right price and it makes the money for you. Nothing ventured nothing gained

@chrismemphis8062

11 ай бұрын

@@deepsix1827 I make $3.5k a day. You are making peanuts.

@2xfrfr

11 ай бұрын

@@deepsix1827labor? Lol that’s slavery bro . 750 a day can’t be Your max bro

The biggest issue is having a car with a loan attached because now you NEED the rentals to pay the note. The best way is to have a car WITHOUT a loan on it then the host doesn’t feel the pinch as much and there’s more profit available.

@nickcortese990

7 ай бұрын

Even than most people dont consider the ROI and how long it will take till they are "Actually" making a profit.....

@XX-166

7 ай бұрын

@@nickcortese990 that’s all depends on the vehicle used for the job and the market it’s working in.

in Canada a while ago there was a car rental company mainly based out of the west coast called Rent-a-Wreck, all of their cars were older vehicles, generally 10 years or older, and you could get the odd classic car if you wanted too, but their newest cars were like 5 or 6 years old. Was interesting when my dad and I rented a 1993 Ford Taurus from them, this was in 2006, and we were told once any of their vehicles hit 200,000kms (120,000 miles) they'd sell them off and replace them, with another vehicle. I will say their fleets of cars were all very well maintained, no rust, or hooptie vibes, and we didn't have any issues with that rental car at all, felt like driving a grandma's car.

@WTFAUTO

11 ай бұрын

I was just telling my wife about this like a week ago when we were complaining about the price of rentals in calgary. I would happily rent a 2010 caravan if it was cheap

@intrepidfox37

7 ай бұрын

I feel like I've seen Rent A Wrecks in the southern states like FL. Can't pinpoint where though. It's been a while.

Im relatively new to the game (11 months in located in ohio) so far honestly my strategy works and I’m not even by the airport yet. I have a formula for the type of car I list. You said if Turo says your car is $30/day then that’s what you get. That is NOT true. I set my price. Im never the cheapest for the most expensive. my economy car is 2013 and it rents for $45/day. My other cars are in the 20-30k range I’m getting 56-85/day depending on day. Cars are utilized 75-85% every month. The people losing are people who expect to make a profit of 1k per car per month, but Im happy about these videos keeps people off the platform lol

@gustavo-gs6jy

7 ай бұрын

Paid off or are those cars financed?

I rented my Tesla model S 3 times on Turo. 2 of them damaged it and Turow’s insurance isn’t for you. Never again. Also tried Uber. That’s for people that are really bad at math.

@XX-166

11 ай бұрын

Did you follow all of the rules for turos insurance to kick in on the claim. ?? If you missed one that’s their out.

@gilleschirignan1279

11 ай бұрын

@@XX-166 I filed within the time frame. They didn’t cover anything. Won’t work with them again. Still have the car don’t need them and their scam.

@XX-166

11 ай бұрын

@@gilleschirignan1279 as a host if less then 20’pics are taken on rental and retrieval of said rental for cleaning then you’ve done yourself an injustice. Why was your claim denied ?? They gave you a reason.

@Noadvantage246

Ай бұрын

@@gilleschirignan1279I feel like all these platforms are can be good if you have a strategy. For example, you mentioned Uber is for people bad at math. I don’t disagree, but let’s you you’re a real estate agent doing it part time. Now that could be very worth it as you’ll have 10-20mins to meet and build rapport with new people. If you ended every ride with handing out a business card you’re essentially getting paid to advertise.

I just went to Mexico and rented a small Chevy Beat with standard trans, 14in wheels, check engine light and missing airbag. It made it all around the Yucatan and back to Cancun with pretty good mileage and saved a lot of money. If you rent from Hertz or other name brands at the airport it will cost you a lot of $$$$. Me and my friend split the rental cost to save money.

This makes me so happy - hosting back in the day on this platform was 100% shenanigans

They could try posting the ACTUAL rental rate. BMW in LA, 1-5 years old. Posted at $55 a day. But upon checking out it was nearly $125 a day after Turo fees. lol. Scam. Bait and switch. Call it what you will it's deceptive and people hate it.

@10viejo15148952lssj

9 ай бұрын

I worked for them, turo fees are the most abussive shit i've ever seen, there are trips for the worth of 600 dollars were the host just earn like 200. Idk why SOOOO many ppl still goes with turo.

Never found a cheap car on Turo, for me Hertz has been more economical than Turo and getaround.

@evansweere

11 ай бұрын

It honestly depends on where you go and how saturated the market is. There are awesome deals in Vegas because the market is saturated. I would definitely not count them out when traveling but you're right, Turo is not always the cheapest option.

@geraldsmith7240

10 ай бұрын

They Are Great About Flagging Their Cars, For On Time Service.

@jc5688

9 ай бұрын

​@@DeeJaeAndreI'm thinking there's more to this story (ex. The renter was late by a good amount in returning the car.)

@sneakerhead4770

9 ай бұрын

@@jc5688I’m thinking I saw on the news that they flagged people who weren’t late. Probably people who were late too but the bad part is people who weren’t late

@davidradtke160

8 ай бұрын

I don’t use Turo for the cheapest car. Rental agencies have shit cars. No manuals and nothing fun.

If you rent out a cheap economy box with Turo in a big city, can’t go wrong.

@XX-166

11 ай бұрын

Depends on the city .. try that in L. A. nope

@silasferreira9647

11 ай бұрын

Yes it can go wrong , if you rent a car for 1 or 2 days and make $60 you got paid $60 an hour to clean a car. Even worst if you rent for only 1 day.

@XX-166

11 ай бұрын

@@silasferreira9647 there’s a bit more to that equation… the car may have only needed a light vacuuming.. keep in mind the renter is responsible for bringing the car back clean and with a full tank of that’s what you gave them and if not you document that with the end trip pictures and are given 100-250 depending upon the end condition it’s returned. If the wheels aren’t turning then as a host you aren’t making money so a fast turn around is essential.

@LynxStarAuto

11 ай бұрын

@@XX-166I've never rented a Turo that required me to clean the car before return. Refuel yes, but clean? Never. I've seen some host warn that if the car is returned too dirty, an additional cleaning fee will be charged. But that's it.

@XX-166

11 ай бұрын

@@LynxStarAuto you can pay as an option to not return the car with the same level of fuel also but if you’re given a clean vehicle both inside and out and you return it dirty both ways and the guest asks… turo can charge you a clean up fee after the host takes the end of the rental pictures depending upon its condition.

This is why exactly I switched to economy cars, I buy them less then 10k pay them off quick and run them for 2-5 years after paid.

The buggiest issue in the rental car business is cash flow. If you want scale using flooring plans (which is about the only way to get funds for rental cars) you’re paying 12% and 18/24 month terms. You are losing money every month! Even with a traditional financing, insurance, washes, labor etc you are on a knifes edge with cash flow. Now throw in an accident or customer rips out your gps and takes the car. Your down for a few weeks and now you’re negative cash for for 2 monthe

Lots of great advice here. Thanks Lucky.

Dude 40$ for a Tesla a day is a steal!! I rmember when they used to be $120+ a day

I put a decent car up to rent out for 250/day in 2018. It was worth 30-35k. I rented it out a few times and made a few thousand. Someone listed the exact same car for 110/day. Race to bottom has been going on for a while, its just Turo's fees are much higher and the ability to profit with little risk is gone, at least in major cities. Don't rent out a 600-700Hp car for 2-300 bucks!

Turo is okay, however I like it for fun/unique cars. Rented a 911 in LA last month for like 250/day. I couldn’t have gotten anything near as fun for that price from a traditional rental company.

Great video thank you very much. I currently have four cars that I am paying for now I am going to get on my fifth car and he’s going to be a cheer for focus. Hopefully it goes well. Big fan of your channel. Keep it up. Thank you.

Big "like." Appreciate your unvarnished opinion without b.s fluff. Thank you.

I am a Power Host on Turo and I can say 1 thing, Turo is made for clients who wants to go from A to B, so get cars that are only for A to B, reliable and only cash, if you dont have the money then forget it.

Essentially turo and even air bnb leverage other people’s debt and lack of business savvy to provide a cheaper service for the end customer.

Great video as always Lucky, waiting on that Smart car project!

2012 Altima 1 Camry 2 2010 Nissan altimas

Just rented a manual Porsche Cayman S on Turo, first time using app. It was epic, will do it again for sure to experience cool cars for

I live in northern Virginia area and rental companies beat out Turo prices every time. I do have status with most of them but I can rent teslas for $40-$50 per day and luxury SUV’s for $60 or less with unlimited miles. My credit card provides rental insurance but it excludes turo or similar platforms so that’s a no for me.

Turo fees are killing business. And many many hosts are upside down on loans

Very busy in Atlanta Metro area…economy cars but I hate this stupid race to the bottom. The money was pretty good pre-pandemic but now it crashed. In addition to renting new cars for $30-40 they are also giving unlimited miles. I’m trying to setup correctly for private rental

I did this. Followed advice from a “friend” from college. Turns out he went to the dark side (scammer) and I got screwed. Luckily, I was able to sell some of my vehicles for a profit after the loan and then some I was able to cover the entire loan. But I got stuck with 4 vehicles that I had to pay for in order to sell. 2 of the vehicles were repo and the other stuck I kept. Just sold one finally. And I’m using the remaining one. Major lessons learned.

It is a fascinating dynamic that the better-financed, more professional operation faces it's stiffest competition from the local schlub with one personal beater that's fully paid off with no cost basis, no depreciation worries and who essentially doesn't need the business. And that is likely the future of this cross between Enterprise and Uber Eats. It is just like the Grapes of Wrath, only for cars!

It all depends WHERE YOU LIVE. I’m in Colorado Springs where people travel here all year round.

Just rented a 2020 Porsche cayenne for $45 a day lol out in Houston 😂

Great video! Good job Lucky..!

Nice videos, I'm getting lots of value from your channel. Thanks!!

So I wouldn’t say it’s dead. Real life example. Bought a Jeep patriot 2017 for 15 k Vehicle has made 6 k roughly in 6 months, so avg is $800-1,600 per month 67 k miles currently Not bad long term if numbers remain the same Car payment is $200 per month Denver, CO I mean KZread a better investment though 😂

@pauljohnson9427

11 ай бұрын

Not to be a jackass lol but if you made 6k in 6 months the average is $1,000 lol….I couldn’t help my self….😅

Thanks for your POV 👍

as someone in a new emerging turo market (melbourne australia) this is super interesting to hear. Here there is only one big fleet of cars. and hes getting plenty of business. obviously the demand isnt as big here because not enough people know about the platform. But in my opinion the cycle is just starting here. And im happy to be in it at the very beggining

@Johnny-yx2qx

8 ай бұрын

Must be nice to be lucky

Lucky, I just had my best month since I've been on Turo. It's been 2 years since I started and I gradually grew my fleet to 11 cars. Yes I'm a pandemic host, overpaid for used Tesla's, Range Rover, Wrangler. Yes, I noticed the market became slightly saturated for Tesla's but mid class SUVs balanced out my fleet. As an entrepreneur you gotta figure it out. I'm in the. NYC Newark Airport area and in my area they don't really push the cheapest cars. I've actually noticed a bunch of my cars come up as top search results. I recently bought a brand new 2023 Model 3 and it's still makes 70-100 a day at 75% utilization. Turo definitely isn't dead. SiXT and traditional rental car companies have lines out the door to pickup cars. Who wants to deal with that? The rental car industry is booming broo. You know people are broke and they can't afford payments, insurance and maintenance because who cares about keeping good credit these days🤷. Turo is only growing in the north east. Yeah, im a one man band. But you gotta do what you gotta do

@quinne5592

11 ай бұрын

Thank you for your feedback, it was super helpful.

@the305hauler

11 ай бұрын

I very think Turo is very niche market, because across the board where I live its cheaper to use the regular rental people. When you don't have money you waiting the lines for an affordable rental car, and get the insurance. I do care about my credit, it's extremely important.

@alexpascal5403

11 ай бұрын

Hey angelo. My sister used to administer head 😮 to a “turo trapper” who frequented Newark airport. The cars you mention are familiar to the stories she told me after administrating brain. Ru from NB by any chance?

@untitled001tm

11 ай бұрын

@@alexpascal5403😂😂😂😂

@user-xw4vg1vy5e

10 ай бұрын

😅😅

Thank you lucky from Vegas

thank you so much for this information

I rented a nice 335i convertible in Houston, like $60 a day, I was whippin mf Was fun

When it comes to this kind of information I only trust Lucky, CQA, and Craig from flying wheels. But Lucky is the best👊👊

@LuckyLopez777

11 ай бұрын

Thanks I appreciate that

I hate the stupid young drivers fee and I have no issues with driving. I need to wait a year to get that stupid charge off any turo bookings...

Turo works for very few customers and owners. Turo has no skin in the game.

May I suggest you get a marker board. You have alot of information to offer. A board would allow people to write down or take a picture of the screen.

In Miami and used Turo twice for C8. The first one smelled really bad. And the second one has already scratches. Both have been taken off the app. The more money gets tight the less people would spend on Turo

@LynxStarAuto

11 ай бұрын

Here in Miami it's all ghetto-mobiles, or pigs with lipstick. And the fees kill any deal on the rental price.

Bought 2 23 Teslas Model 3s at a steal for 25k each. Was super busy during oct. than absolutely nothing. IM selling both cars. Will still make a profit as both were purchased at Auction for 25k clean titles with less that 20thousand miles.

I was curious about Turo but find that prices for a 1 day rental are actually the same price or more expensive than Enterprise Local. I don't have enough info on Insurance, Legal Issues etc with Turo to fully trust them and their Hosts, so my business has to go to Enterprise because I know they are a National Brand and have dotted all the i's and crossed all the t's when it comes to State and Federal Laws and Insurance requirements and they are an actual Car Rental Company. As an added bonus I am a Platinum Member of the Enterprise Rewards Program because I rent a lot of cars, so I get a free day every few months. I wonder how many other potential Turo customers feel that way?

@merajfaiz

11 ай бұрын

Probably all of them :)

I’m in Seattle ,got a 2021 mazda Cx9 3 row seats . I paid cash for it , Gets rented out almost all month only 3-4 days a month not getting rented out . Large suvs are more popular in Seattle since it’s raining most of the year .I just started few months ago but last couple months been booming, i will see how it goes in winter tho.

@Pyrrhus0331

11 ай бұрын

The car rental market in the Seattle - Tacoma area has low inventory. My rental there , for the same amount of days , cost more than my rental in Hawaii the previous week

I’m in Savannah and I’m 2 weeks no rentals now just stopped

My wife and I usually rent from Turo when we go to Florida every year but this year the price to rent from that platform has more than doubled. We found a better deal to just rent from the airport, we’re done with Turo.

@idonotcarenow

11 ай бұрын

No your not. Turo beats the airport every time. I travel to LA, NY, Hawaii, FL and SC often. Nothing beats Turo.

@dhobbs1974

11 ай бұрын

@@idonotcarenow Bullshyt, let’s compare prices and you’ll see that Turo is way more expensive than renting from a car rental agency, it didn’t use to be like that, Turo is a ripoff now.

@LynxStarAuto

11 ай бұрын

@@idonotcarenowI'm in Miami, and can tell you that Turo is no longer a viable option. They charge exorbitant fees, that kill any savings. Plus, the "car rich, cash poor" hosts can't afford to properly maintain the cars. So they cover up issues and flaws, and out right lie on their listings. 🤷‍♂️

@idonotcarenow

11 ай бұрын

@@LynxStarAuto absolutely not, the fees are still there with the rental companies. I get teslas on Turo for 50+ a day can’t find that anywhere on hertz.

How much capital would you need to start with a couple to maybe 4 used cars or minivans, etc. Thanks again for your time and videos.

My nephew has a couple charger scat packs and a couple economy cars. He makes about $6k months now. Seems the way to make money is either get something cheap that is always rented or find something unusual/exotic that can't be found nearby

@kevinorellanaable

9 ай бұрын

Ya I have a 2012 Hyundai elantra and a 2011 Ford edge that I got for cheap $6,500 for the elantra and $7k for the edge and they are rented out like 25 or 26 days a month. Cheap cars are the way to go. I just got liability insurance so I don't spend a lot there.

I stopped renting my car out in Turo bc I was tired of being insulted. When I am a host (helping you run a rental car business) then I have to talk to random customer service reps and say my personal info out loud every ducking time, I feel insulted. I am your business partner, I should not be pressing 1 for English, waiting on hold, or being treated like a stranger. In addition to that, they don’t look out for hosts. No partnerships to make gps, car wash, oil changes less expensive. And they got greedy with the money. They take their cut from both the host and the guest. They have to be spending irresponsibly bc how are you not raking in cash if you’re taking over 50 percent of the total customer spending, while doing none of the actual work and not even investing in the actual asset.

I can't believe that Turo ever even became a thing- I drive 20+ year-old vehicles, and I wouldn't want anyone else driving them, much less complete strangers!

@aim-for-greatn3z947

10 ай бұрын

😂 it's simply not your business lol I'm surprised you're even watching this video.

@bobbylibertini

10 ай бұрын

@@aim-for-greatn3z947 Surprised? Nah, I've been in the automotive fields most of my adult life, so pretty much anything auto-related, especially unique and different things pique my curiosity- and even more so, the economic aspects of trying to mingle these dysfunctional Silly-Cone Valley tech business models with traditional solid technology and business models. Turo was an interesting concept when it centered around pairing users with uncommon and or unique vehicles- but obviously, few owners of high-value and unique vehicles are willing to rent them out. As just a mundane rental service, the economics can't work. Rideshare will go the same way- in order for the wages rto be high enough to make it worthwhile, the price of the service will be too high (It's going that way now)- and ":self-driving" cars won't help, as they would be too expensive to purchase and maintain, thus still requiring high user fees. These things work at first, until reality sets in amongst enough people....then, poof! tl;dr; [Ralph Kramden voice]: I've got a BIIIIGGGG MMOOOUUUTTTHHH!!!! :D

Estas C. They are going public soon So I been looking to go against Herz and enterprise

Coincides with the AirBnB fall

I’m 1 year in with 5 cars in NorCal. 10-20% slower this summer.

Problem I have with turo is hidden fees. $70 car rental, after fees comes out to $130. Turo needs to be upfront and start listing out the door prices.

The business model isnt bad, theres money to be made. There are many reasons people are losing money but it boils down to people not understanding leverage, and not properly managing their cash flow. I dont think depreciation is as bad of an issue as you make it out to be, but youre spot on for everything else. Poor markets like these show who really knows what theyre doing, and who just got lucky in a hot matket.

Turo's fees are too much. Daily rental: $70 -- after all fees and such Daily rental: $135.76 Yeah, that's not worth it. I love turo, and have used it multiple times in the past, but I don't rent normal junk.. only stuff like teslas and such..because you're not finding that at enterprise. Not really planning on using it anymore unless I find a 'deal' though.

@sfrealestatedealmaker6001

11 ай бұрын

Hertz now had teslas

@krashanb5767

11 ай бұрын

​@sfrealestatedealmaker6001 yeah, I've tried to rent one. It was guaranteed. 😂 Ended up driving Altima 😅

Excellent video, I was wondering on the topic of how to wholesale in Nevada? I would like to sell at auctions.

Your personal insurance should NEVER be used for claims that occur while the vehicle is being rented on the turo platform. That’s what the turo insurance is for. Your personal insurance could or probably would drop you if they know you’re renting your car or cars out commercially. All claims are handled by TURO not your personal insurance.. they should never know you’re using your car as a side hustle.

@sfrealestatedealmaker6001

11 ай бұрын

Until they pull a Carfax and find out you’re doing what you shouldn’t 😂

@XX-166

11 ай бұрын

@@sfrealestatedealmaker6001 Carfax won’t show you’ve bought a personal vehicle and then used it for turo.. doesn’t work like that unless you’re dumb enough to tell your DMV you’re doing it.

@LynxStarAuto

11 ай бұрын

@@sfrealestatedealmaker6001carfax reports service and accident history. It doesn't report rental history or similar 🤨 think you misunderstood carfax.

@arnie2103

11 ай бұрын

I used to work for a big insuror and that's a fact.

@XX-166

11 ай бұрын

@@arnie2103 a host is stupid if they attempt to claim damages that occurred during a Turo rental. Not only are they gonna deny the claim you’re gonna get dropped immediately.

I stopped using Turo for a few reasons: - Most insurance companies/credit card insurance don't cover Turo cars, so you have to purchase Turos protection plans which can add a few hundred to your final tab depending on what you are renting - Fees, the price looks good until you reach that final screen lol -Owners that don't take care of their cars, my last turo rental was a 2023 m340i with almost 40k miles within a few months, brakes were shot (like metal on metal bad smh), and smelled like smoke. To top it off I spent almost $1200( after fees and turo insurance) for a 10 day rental and realized I could have got a Mustang GT or Scat Pack from a rental company for around $700 If i'm looking for a fun car Turo is still one of the best places to go, I was able to rent a b6 RS4, a Trackhawk, a Civic Type R, Camaro SS droptop, and the busted m340i. If I just need a regular rental the rental companies have them beat. I rented a 2023 Camry for $35/day and didn't have to worry about what I'm going to do in the event that I get in accident

@HippieP629

9 ай бұрын

You rented a 2023 Camry for $35 / day??? I don't disbelieve you but was there a special going on or something?

@carsnanime4719

9 ай бұрын

@@HippieP629 corporate code haha, cuts the rate in half essentially🤫

Hey Lucky what's with the SimpliSafe ad that ran mid sentence?

Only thing I hate about Turo is that they charge me the same price as the rental a day just as Turo fees.

Good. There is no substitute for the legit version of the business.

I wouldn’t rent out my car Everything he’s saying about the race to the bottom was my first impression; 9:15 and the running at a loss doesn’t surprise me at all.

Hey @LuckyLopez777 What do you think about 10 passenger transit vans on the turo platform? In my market there are none available.

Phoenix market has tanked. Everyone’s renting economy cars for $20 a day and brand new cars for $40 a day. Utilization is cut in half. The market had shifted…

If everyone is leaving that should unsaturate the market some no?

Can do videos on getaround, uber rent? Thx

What do we think about Instant booking being the standard??

Market factors of supply, demand, competition, etc is something that applies to any industry unfortunately not many people care or know about these things. Fools rush in and ruin everything.

so does air bnb. fees fees fees fees. why do I have to clean the vehicle/house before returning? and even paying cleaning fees...also too much rules...cant do this cant do that.

Lucky, you also said Carvana was going bankrupt in two weeks like 3 months ago. What’s going on man?

@LynxStarAuto

11 ай бұрын

They did. They filed and are in the process of restructuring the business. They just recently cut a 1.2b debt settlement with their creditors. I heard it on Bloomberg radio. Not to mention they have a plethora of pending court cases in several states where they broke laws. But yes, they declared bankruptcy

Just like Airbnbs (I prefer hotels) .... I stick to the car rental chains thank you.

Same with uber its people accepting and taking $2 and $3 rides which brought down earnings for everyone, these companies prey on the most desperate and in bad situation people to stay afloat

Of all the driver apps Turo was the best

If I want to go private, what insurance can I get for uninsured renters?? Do I have to go to an insurance broker??

capitlism rules bro great job

The biggest problem is depreciation on these cars with all these apps Uber Turo doordash

I have a question. I have a BMW I want to sell. I want to first try to see how it does on Turo. The car is i Manhattan, NY. You mentioned it should be under a company. Can i leave it under my name and then switch it later or am i taking a risk?

Hi Lucky, I bought a car from a dealer, a new one, I signed the contract that day, they got car, key and registration under my name, a few days after they called me and said: the back don't approve my loan, and they want the car back, so, I have the contract that I was approved under 5.9% and a payment of 713$ for 72 mounts. Is legal what the dealer trying to do ? How I have to react?

I quit Turo recently. Not worth the risk. Plus I lost interest in the business. Only got two cheap cars to try it out for a full year.

Not sad to see Turo go away, good idea gone bad.

Yeah idk how people think they can compete with rental agencies… they have too much money to offer a better experience for cheaper

Lucky, you’re killing me man. Your camera is crooked 🖼️

What are other ways to make money with a wholesale license and make your used car business scalable?

Rented a Ferrari on turo for 189 a day, 2011 California that person is losing a ton of money they even had it as unlimited miles, man we used that car for the weekend for fun. Next cheapest one in Denver was $389 a day, man these people are going to lose their shirt and some awesome deals are coming.

Turo like other apps used to be great. Now 100% fees make it not worth it at all

Great channel very interesting even if your not in the business.

Been doing turo for 2 years never have i bought a brand new car for this platform. It just doesn’t make sense 🥴 ppl are putting model 3 and E350 X5 at 60-80$ a while im over here making profits with my 5 2012-2015 honda accord and camry

Am I just naive or wouldn’t letting your vehicle get repoed wreck your credit? I know there’s a lot of not so bright people out there but I feel like in your videos you’ve made it seem like a very common thing but yet people are still able to go out and finance another car no problem?

@TheCoopMan

11 ай бұрын

Usually they go finance another car first then have their old care repossessed. Then they figure they have a couple years to get their credit back up. It’s not smart but people have been doing it a lot.

@LynxStarAuto

11 ай бұрын

There are a lot of tricks you can employ to leverage your credit. Also, after Covid CC companies have become very flexible and understanding, and have plans and services in place to help you with your credit. So ppl are exploiting that.

I like your 👕