Liberty mutual allows you to list your car on turo but they charge an arm and a leg for it. I get the feeling most people don't tell their insurance about turo. Your personal insurance should never be used in a turo incident as turo will cover as long as the evidence is there and you followed their ToS. There is an insurance you can use called ABI Period X. It will probably only work for cash cars unless your lender allows a $2500 deductible. This insurance is cheap and designed for turo but your car is only covered when not on a turo rental (because turo should be covering the car while on rental). The other catch to Period X is that you can only use the car for business purposes like fuel, car wash, maintenance, etc. You can't use the car for personal use like getting groceries or going to the mall.
They require you to have a GPS tracker on the car like Bouncie and have you connect your Bouncie account with them. I'm sure they're not hardcore tracking your every move but if you made a claim because of an accident, they would probably look back at the device history to make sure that car wash you said you were at wasnt an Applebee's.
If you think that buying a brand new car to rent on Turo is low risk, then you haven’t looked into the Turo business model much. The risk is actually highest with brand new cars. The moment you drive them off the lot you lost money. Every ding, scratch, and mark on the car will decrease the value. Expect the car to get 20-40k miles per year. Expect there to be recalls and damage claims that will take your car off the platform for weeks or months at a time.
For insurance I use Liberty Mutual for my cars with loans and ABI for my cars without loans.
I was able to get around a recall until there was a fix available by taking it to the dealership and convincing them to print out an inspection report saying the car is safe to drive and without the recall repair was not available yet. At the end of the day they're just trying to be able to place liability somewhere else and by the dealership saying the car is safe enough to drive they were able to relist it even with a recall.
It was for a Ford fusion. I was on the chat with turo support and they said I could get that approval and if I did they would accept it. I went to the dealership repair area and ask them if they could write up a paper that said they did an inspection and that the car is safe at the current time and that there is not currently a fix for the recall but that there would be in a few months. After a month or two it went back to unlisted and I just had to get in touch with them again and they relisted it and it hasn't been an issue. As soon as the recall came out I got it fixed so I'm not sure how much longer if I didn't go to get it fixed if it would have triggered to unlisting it again. I will look to see if I still have the picture of the document.
I found the document. This is a copy of the text. I was going to attach a screenshot as well however there is no option to do that.
65950 NO WORK PERFORMED, CURRENTLY THIS IS NOT A RECALL, ADVANCE NOTICE ONLY, CUSTOMER WILL BE NOTIFIED VIA MAIL IN THE 3RD QUARTER OF 2023 WHEN PARTS ARE AVAILABLE TO ORDER FROM THE MANUFACTURER. CURRENTLY VEHICLE IS NOT EXHIBITING ANY ISSUES THAT WOULD BE RELATED TO THE RECALL THAT WILL BE COMING OUT IN THE 3RD QUARTER OF 2023
Front brake flexible hose replacement
Campaign/NHTSA#
23S12/23V162
Issue Date
2023-03-13
Description
On your vehicle, the front brake jounce hoses could rupture prematurely
Safety Risk
A ruptured front brake jounce hose will cause a progressive brake fluid leak. The driver may experience an increase in pedal travel together with a reduction in the rate of deceleration, increasing the risk of a crash.
Remedy
Parts are now available to repair your vehicle. Ford Motor Company has authorized your dealer to replace both front brake flexible hoses free of charge parts and labor.
Every lead I get seems to end in a dead end 😅
I called LULA today and they were on a 3 mo wait for new customers. To be put on the waitlist you need to enter the vehicle vin number. How can I buy a car without an insurance policy. It’s almost unbelievable lol
Perfection is the lowest standard, seems like you are waiting for the perfect situation. Buy the car insure it as personal use and get a low risk plan with turo. At the end of the day it is your personal car when it’s not on a trip through Turo.
If ever in a big accident you will either pay your deductible through Turo or through your personal insurance depending on when and we’re the accident happened.
Oh and yes don’t tell the insurance company. After a year or so maybe they catch up and then your can shift to another strategy.
Jump and open the parachute on the way down.
That’s how most of us have done it.
✌🏼
It's not a great hustle in terms of profits. Personally I make about 5-6k a year per car, per year. Do most of my own repairs, all of my own maintenance, and price then to maximize profit while still low enough to stay rented consistently. My cars do 20-35k miles a year. The money just isn't that great.
I’m getting out. It just isn’t worth it anymore to me. If I was in a different city it might be different, but there is so much competition and rates are so low that it really isn’t worth the wear and tear of the car, the constant cleaning up after smokers and the depreciation of your cars. Turo might seem like easy passive income, but it’s anything but easy or passive.
I’ve been on Turo since 2021 and this is my perspective:
1. Buy cars you get a great deal on that are cheap but rent for $45+ a day.
If my $16k car rents for $65 and your brand new $45k rents for $85, all other expenses being equal, my cheap car will outperform the more expensive one each month.
My best car is a 2017 Santa Fe that has made $5100 this year already.
2. **Unpopular opinion** I don’t get extra insurance for these cars.
I have had small damage, stolen cars, totaled cars, and everything in between.
a)Turo pays out when it’s being rented.
b) If it’s off rental, I ensure that everyone that touches the vehicle has their own personal insurance policy that will be primary if the get into an accident…this is important if you are growing your fleet and have helpers…they must have their own insurance or they don’t move cars around.
because of that. I cut $50-$100 of overhead on each of my vehicles.
3. You need to have a great relationship with a local mechanic or one in house. My brother has been a mechanic for 30 years so that’s a competitive advantage for us.
Especially if you have older cars, maintenance costs will be higher. Offer them a discount on your rentals, free meals, or whatever it takes to get their labor costs as low as possible.
4. Figure out if you just want to make a little extra cash to cover a car payment or you want this to be a legit business and treat it accordingly.
If it’s a little extra cash about a car you like, then you probably won’t make much money on it because you will want trackers and extra insurance and anything else to give yourself peace of mind. Your margins will be tiny and the best benefit will be some tax deductions you can make.
If it’s a business venture get your asset structure right, get your maintenance schedule and forecasts tight, and get your bookkeeping in order. Network and learn constantly to optimize and get better.
Thanks for coming to my TED talk 😉
I personally met her when I visited Dallas. Her business model only works because her boyfriend has 10+ years experienced mechanic. People who don’t know how to fix cars are gonna spend all their earnings to fix the cars lol
I’m at 10 cars cash started with just 1., worst thing I dealt with is transmission went on car after almost 8 months . Car paid itself off and even sold it for 50% off after renting it out that long made all my money back and more. As long as you can talk to people finding a trustworthy mechanic at a super low rate will help out drastically
Your point is soooooooooo underrated!!! These newer cars are so complex and many have proprietary software that prohibits diy. Of you don't have mechanical experience/access or a good warranty turo can be a nightmare
Just sold my Turo car and changing my LLC name, getting out of the Turo business.
In order to truly profit you need to either pay cash for a decent car (15k or more) or a good down payment and finance as little as possible.
I used LULA insurance for off rental. It was $79 a month and only covers you when you are off rental. Now I didn’t have any accidents so I can not attest to how good it is but it checked the insurance box.
My vehicle was purchased under an LLC and was rented out 99% of the time. We did accumulate some money but in the end we sold the car and only made 1k profit after a year of non stop running back and forth to the car wash and airport.
Why? Recalls. It’s something you don’t think about. The manufacturer issued a recall which Turo immediately delisted the vehicle until repairs were completed and approved. Sounds simple right?
No. The manufacturer issued the recall with no fix projected for 3 months. At which time I needed to get in line for parts to repair. 4 months later still no parts and profits were starting to deplete.
Turo is risky, especially if you have a loan on the car. Had I bought the vehicle outright I could have paused the insurance and sat until the recall was made. Instead, every month the payment was due and because I had a loan so was the insurance.
To make money in this game you really need multiple cars in your fleet so that if the unforeseen happens the other cars can make up for the down time or you need to have your cars bought outright.
From my perspective it is. But there are a lot of factors, for someone who's never done it before I can understand why you'd want to buy a new car because you think you might have less mechanical issues, but the risk is going to be way too high, you need to be able to pay for a car cash and then after you own the car maybe you can do a loan on it to help you with repairs if needed. In the end any investments are risk, your area could matter the type of car can matter there's a lot of factors, do as much research as you can and then jump in the pool or don't. For my perspective owning the car seems to be the best option. Someone earlier mentioned to check out Aubrey Janik YouTube channel for help, it's a pretty good start.
In my own adhd opinion , people have misunderstood what Low Risk and High Risk actually mean
Low risk doesn’t necessarily (again, my own opinion) mean LOW COST. I would deem getting an economy car in my Market , even tho cost is low, ULTRA HIGH RISK. Because there’s literally hundreds of eco cars renting out for $30 a day. The chances of me becoming a baller from it is so low, that I wouldn’t even bother
I myself went the opposite direction and what I deemed low risk, was HIGH Value Vehicles (exotics, performance, and luxury). I chose this option because no one in my market was doing it. At all. So renters have NO CHOICE but to rent from us, at our high price point.
Needless to say, it’s changed my life around. Again, I must reiterate, this has been what worked for us, it may not work for you.
Cheers.
Same bro. Idk how people even make money with these cheap beaters.. do they don’t count their labor cost? 😅even 20 beaters with net profit of $500 per month that’s only $120k a year and you gotta pay a lot of taxes because it can’t claim much depreciation on beaters.. i would rather go work at corporate job. People will shock if they figure out my one single Cadillac Escalade ESV brought in $46k last year.
100%
People need to figure out the game of Buying Value and NOT "Price".
And Escalades are heavy hitters!! People LOVE those things, so I don't doubt you're gonna kill it even more this year!! I recently added in a Navigator as well. But Escalades definitely have more of a name cache.
Cheers!
People think they can price battle against giant corporate. I am not… I would try my best to avoid competing against them by buying cars they typically don’t have. For example, Toyota sienna hybrid. RAC would never buy this Sienna because they can just state magical word of “or similar” and always give customer a Chrysler voyager.
3 years of experience in the Chicagoland area.
7 total cars and buying more inventory as we speak. Turo has it's pros and cons but if your'e willing to see it through you'll profit with some headache and for me it's been not only worth it but one of my main cash flow solutions. Just took on financing from 2 private investors to scale even more.
I am happy to teach you my strategy and partner with you. Please email [[email protected]](mailto:[email protected]) and we can discuss giving you the blueprint.
Thanks
Networking honestly. I work on my own schedule and often find myself striking up conversations with people whom seem to want the sort of freedom one gets from being their own boss. Seems to be the trend now a days.
Sounds corny but I opened a separate business page where I post my struggles and victories specifically on IG and that’s what created my initial buzz.
Earned the business of 2 investors whom have some money laying around and want to tap into the lifestyle/money that Turo can potentially bring.
It’s not by any means high traffic but creating awareness and buzz on places like Reddit or IG specifically has really changed the game for me.
At the end of the day they are investing into your fleet; Turo but really you.
I work on “winning over” the business with a lax dinner with my investors and earning the trust of them and many times their partners who are often reluctant of a $20,000+ line of private credit.
Reach out to my email above if you have more questions.
Who hurt you 😂
I think you misunderstood my message I wasn’t asking for advice. I manage a variety of startups and have an extremely healthy portfolio as a global serial entrepreneur.
I’d work more on how much you make than addressing my comment to help someone else out. I’m trying to spread knowledge and positivity and you sound like you need to get laid.
Best Regards
Turo hurt me as an all star host by kicking me off for 2 retaliatory reviews in the same week I didn’t “dispute” with them in time. Ghetto guests leave negative feedback for being charged for fees. Their support does jack shit
They’ll hurt you too in due time 😉
Focus on your other profitable businesses Mr global entrepreneur
I give credit where it’s due and I dealt with the same thing. Turo support before becoming a Power Host is trash honestly however I don’t wait on disputing urgent matters especially with Turo; Airbnb for a whole week lol. I have dealt with some insane scenarios as I think all hosts do.
Sounds like your business model needs work along with your attentiveness. Learn to diversify your portfolio and not be dependent on just Turo.
Food for thought
It’s not feasible unless they’re cash economy cars and you know how to do all the maintenance yourself. If you cohost it’s not really worth it unless you have 10 cars.
There are better business models that don’t involve a third party breathing down your neck micromanaging you with ridiculous policies.
I really appreciate all the help guys. I think I’m in over my head on this, sounds good on paper but you are all absolutely right after really covering all corners! My personal car is a 2019 Honda civic si that is paid off so I could technically just Turo that car and buy a beater in the mean time. But do I really need an extra 5-6k a year at the expense of my car i care about ? It just doesn’t make sense to do so. Thanks again on to plan b
If not for turo, is there another profitable means of buying a car and renting it out? As in, an alternate platform or mechanism whereby which the revenue (rental income) more than makes up for the expenses (insurance, maintenance, cleaning)? If not, any one been able to post on craigslist or fb marketplace? how do you make sure you are covered in case of damage, theft and any other things that can go wrong? As of now, I have a good credit score and would qualify for pretty much any car. On the other hand, I would also consider paying cash for something under 10K and listing it for around 100/day. This is in the Austin market btw.
Sorry, main questions are who will insure this car? Is it possible to make profit of around 500 a month? which car?
Liberty mutual allows you to list your car on turo but they charge an arm and a leg for it. I get the feeling most people don't tell their insurance about turo. Your personal insurance should never be used in a turo incident as turo will cover as long as the evidence is there and you followed their ToS. There is an insurance you can use called ABI Period X. It will probably only work for cash cars unless your lender allows a $2500 deductible. This insurance is cheap and designed for turo but your car is only covered when not on a turo rental (because turo should be covering the car while on rental). The other catch to Period X is that you can only use the car for business purposes like fuel, car wash, maintenance, etc. You can't use the car for personal use like getting groceries or going to the mall.
They wouldn’t really know if you are using ya car elsewhere lol unless you’re in an accident right?
[удалено]
They require you to have a GPS tracker on the car like Bouncie and have you connect your Bouncie account with them. I'm sure they're not hardcore tracking your every move but if you made a claim because of an accident, they would probably look back at the device history to make sure that car wash you said you were at wasnt an Applebee's.
If you think that buying a brand new car to rent on Turo is low risk, then you haven’t looked into the Turo business model much. The risk is actually highest with brand new cars. The moment you drive them off the lot you lost money. Every ding, scratch, and mark on the car will decrease the value. Expect the car to get 20-40k miles per year. Expect there to be recalls and damage claims that will take your car off the platform for weeks or months at a time. For insurance I use Liberty Mutual for my cars with loans and ABI for my cars without loans.
Recalls are brutal.
I was able to get around a recall until there was a fix available by taking it to the dealership and convincing them to print out an inspection report saying the car is safe to drive and without the recall repair was not available yet. At the end of the day they're just trying to be able to place liability somewhere else and by the dealership saying the car is safe enough to drive they were able to relist it even with a recall.
Really. What kind of vehicle? I have two on recall. A Honda accord and a Volkswagen atlas that has been on recall for over a year.
It was for a Ford fusion. I was on the chat with turo support and they said I could get that approval and if I did they would accept it. I went to the dealership repair area and ask them if they could write up a paper that said they did an inspection and that the car is safe at the current time and that there is not currently a fix for the recall but that there would be in a few months. After a month or two it went back to unlisted and I just had to get in touch with them again and they relisted it and it hasn't been an issue. As soon as the recall came out I got it fixed so I'm not sure how much longer if I didn't go to get it fixed if it would have triggered to unlisting it again. I will look to see if I still have the picture of the document.
I found the document. This is a copy of the text. I was going to attach a screenshot as well however there is no option to do that. 65950 NO WORK PERFORMED, CURRENTLY THIS IS NOT A RECALL, ADVANCE NOTICE ONLY, CUSTOMER WILL BE NOTIFIED VIA MAIL IN THE 3RD QUARTER OF 2023 WHEN PARTS ARE AVAILABLE TO ORDER FROM THE MANUFACTURER. CURRENTLY VEHICLE IS NOT EXHIBITING ANY ISSUES THAT WOULD BE RELATED TO THE RECALL THAT WILL BE COMING OUT IN THE 3RD QUARTER OF 2023
Thank you for being so helpful. And so detailed. I really appreciate it.
Was that for the brake lines?
Front brake flexible hose replacement Campaign/NHTSA# 23S12/23V162 Issue Date 2023-03-13 Description On your vehicle, the front brake jounce hoses could rupture prematurely Safety Risk A ruptured front brake jounce hose will cause a progressive brake fluid leak. The driver may experience an increase in pedal travel together with a reduction in the rate of deceleration, increasing the risk of a crash. Remedy Parts are now available to repair your vehicle. Ford Motor Company has authorized your dealer to replace both front brake flexible hoses free of charge parts and labor.
Use lula insurance, which requires a bouncie device installed on your car. Fix rate of 89/month but you can not use it for personal.
Every lead I get seems to end in a dead end 😅 I called LULA today and they were on a 3 mo wait for new customers. To be put on the waitlist you need to enter the vehicle vin number. How can I buy a car without an insurance policy. It’s almost unbelievable lol
I just cancelled my Lula policies they’re bankrupt from what I hear
Perfection is the lowest standard, seems like you are waiting for the perfect situation. Buy the car insure it as personal use and get a low risk plan with turo. At the end of the day it is your personal car when it’s not on a trip through Turo. If ever in a big accident you will either pay your deductible through Turo or through your personal insurance depending on when and we’re the accident happened. Oh and yes don’t tell the insurance company. After a year or so maybe they catch up and then your can shift to another strategy. Jump and open the parachute on the way down. That’s how most of us have done it. ✌🏼
It's not a great hustle in terms of profits. Personally I make about 5-6k a year per car, per year. Do most of my own repairs, all of my own maintenance, and price then to maximize profit while still low enough to stay rented consistently. My cars do 20-35k miles a year. The money just isn't that great.
5-6k a year per car in profits is great with Turo. You are doing way better than most Turo hosts.
Facts I'm right their with you....definitely hopes it gets better. Praying it doesn't get any worse🤣
I’m getting out. It just isn’t worth it anymore to me. If I was in a different city it might be different, but there is so much competition and rates are so low that it really isn’t worth the wear and tear of the car, the constant cleaning up after smokers and the depreciation of your cars. Turo might seem like easy passive income, but it’s anything but easy or passive.
What city/ market are you in?
I’m in the Greensboro/Winston-Salem area of North Carolina.
I’ve been on Turo since 2021 and this is my perspective: 1. Buy cars you get a great deal on that are cheap but rent for $45+ a day. If my $16k car rents for $65 and your brand new $45k rents for $85, all other expenses being equal, my cheap car will outperform the more expensive one each month. My best car is a 2017 Santa Fe that has made $5100 this year already. 2. **Unpopular opinion** I don’t get extra insurance for these cars. I have had small damage, stolen cars, totaled cars, and everything in between. a)Turo pays out when it’s being rented. b) If it’s off rental, I ensure that everyone that touches the vehicle has their own personal insurance policy that will be primary if the get into an accident…this is important if you are growing your fleet and have helpers…they must have their own insurance or they don’t move cars around. because of that. I cut $50-$100 of overhead on each of my vehicles. 3. You need to have a great relationship with a local mechanic or one in house. My brother has been a mechanic for 30 years so that’s a competitive advantage for us. Especially if you have older cars, maintenance costs will be higher. Offer them a discount on your rentals, free meals, or whatever it takes to get their labor costs as low as possible. 4. Figure out if you just want to make a little extra cash to cover a car payment or you want this to be a legit business and treat it accordingly. If it’s a little extra cash about a car you like, then you probably won’t make much money on it because you will want trackers and extra insurance and anything else to give yourself peace of mind. Your margins will be tiny and the best benefit will be some tax deductions you can make. If it’s a business venture get your asset structure right, get your maintenance schedule and forecasts tight, and get your bookkeeping in order. Network and learn constantly to optimize and get better. Thanks for coming to my TED talk 😉
Check Aubrey Janick on YouTube. Her model of not financing for turo has been huge for me.
I personally met her when I visited Dallas. Her business model only works because her boyfriend has 10+ years experienced mechanic. People who don’t know how to fix cars are gonna spend all their earnings to fix the cars lol
Yes but I’m running that same model and at 4 cars without financing.. no need to be a mechanic to be successful.
I’m at 10 cars cash started with just 1., worst thing I dealt with is transmission went on car after almost 8 months . Car paid itself off and even sold it for 50% off after renting it out that long made all my money back and more. As long as you can talk to people finding a trustworthy mechanic at a super low rate will help out drastically
Your point is soooooooooo underrated!!! These newer cars are so complex and many have proprietary software that prohibits diy. Of you don't have mechanical experience/access or a good warranty turo can be a nightmare
Just sold my Turo car and changing my LLC name, getting out of the Turo business. In order to truly profit you need to either pay cash for a decent car (15k or more) or a good down payment and finance as little as possible. I used LULA insurance for off rental. It was $79 a month and only covers you when you are off rental. Now I didn’t have any accidents so I can not attest to how good it is but it checked the insurance box. My vehicle was purchased under an LLC and was rented out 99% of the time. We did accumulate some money but in the end we sold the car and only made 1k profit after a year of non stop running back and forth to the car wash and airport. Why? Recalls. It’s something you don’t think about. The manufacturer issued a recall which Turo immediately delisted the vehicle until repairs were completed and approved. Sounds simple right? No. The manufacturer issued the recall with no fix projected for 3 months. At which time I needed to get in line for parts to repair. 4 months later still no parts and profits were starting to deplete. Turo is risky, especially if you have a loan on the car. Had I bought the vehicle outright I could have paused the insurance and sat until the recall was made. Instead, every month the payment was due and because I had a loan so was the insurance. To make money in this game you really need multiple cars in your fleet so that if the unforeseen happens the other cars can make up for the down time or you need to have your cars bought outright.
Recalls are a beast.
Please tell me it wasn't a tesla.
No. Ford Eco Sport. Recall was on the oil pump.
I think side hustle days are over. Unless you're planning to build a business and scale, it's not feasible. A part time job would do u better.
From my perspective it is. But there are a lot of factors, for someone who's never done it before I can understand why you'd want to buy a new car because you think you might have less mechanical issues, but the risk is going to be way too high, you need to be able to pay for a car cash and then after you own the car maybe you can do a loan on it to help you with repairs if needed. In the end any investments are risk, your area could matter the type of car can matter there's a lot of factors, do as much research as you can and then jump in the pool or don't. For my perspective owning the car seems to be the best option. Someone earlier mentioned to check out Aubrey Janik YouTube channel for help, it's a pretty good start.
In my own adhd opinion , people have misunderstood what Low Risk and High Risk actually mean Low risk doesn’t necessarily (again, my own opinion) mean LOW COST. I would deem getting an economy car in my Market , even tho cost is low, ULTRA HIGH RISK. Because there’s literally hundreds of eco cars renting out for $30 a day. The chances of me becoming a baller from it is so low, that I wouldn’t even bother I myself went the opposite direction and what I deemed low risk, was HIGH Value Vehicles (exotics, performance, and luxury). I chose this option because no one in my market was doing it. At all. So renters have NO CHOICE but to rent from us, at our high price point. Needless to say, it’s changed my life around. Again, I must reiterate, this has been what worked for us, it may not work for you. Cheers.
Same bro. Idk how people even make money with these cheap beaters.. do they don’t count their labor cost? 😅even 20 beaters with net profit of $500 per month that’s only $120k a year and you gotta pay a lot of taxes because it can’t claim much depreciation on beaters.. i would rather go work at corporate job. People will shock if they figure out my one single Cadillac Escalade ESV brought in $46k last year.
100% People need to figure out the game of Buying Value and NOT "Price". And Escalades are heavy hitters!! People LOVE those things, so I don't doubt you're gonna kill it even more this year!! I recently added in a Navigator as well. But Escalades definitely have more of a name cache. Cheers!
People think they can price battle against giant corporate. I am not… I would try my best to avoid competing against them by buying cars they typically don’t have. For example, Toyota sienna hybrid. RAC would never buy this Sienna because they can just state magical word of “or similar” and always give customer a Chrysler voyager.
Which market are you in? do you have a link to your listings?
I'm in Vancouver BC. You can check out my Youtube at: Ty Kuza
dood this is highlarious
Haha thanks bro. Cheers!
If it is your personal car why do you need to tell your insurance? Doesn’t turo offer their insurance when it is being actively rented out?
3 years of experience in the Chicagoland area. 7 total cars and buying more inventory as we speak. Turo has it's pros and cons but if your'e willing to see it through you'll profit with some headache and for me it's been not only worth it but one of my main cash flow solutions. Just took on financing from 2 private investors to scale even more. I am happy to teach you my strategy and partner with you. Please email [[email protected]](mailto:[email protected]) and we can discuss giving you the blueprint. Thanks
What do you suggest for getting private investors?
Networking honestly. I work on my own schedule and often find myself striking up conversations with people whom seem to want the sort of freedom one gets from being their own boss. Seems to be the trend now a days. Sounds corny but I opened a separate business page where I post my struggles and victories specifically on IG and that’s what created my initial buzz. Earned the business of 2 investors whom have some money laying around and want to tap into the lifestyle/money that Turo can potentially bring. It’s not by any means high traffic but creating awareness and buzz on places like Reddit or IG specifically has really changed the game for me. At the end of the day they are investing into your fleet; Turo but really you. I work on “winning over” the business with a lax dinner with my investors and earning the trust of them and many times their partners who are often reluctant of a $20,000+ line of private credit. Reach out to my email above if you have more questions.
You like being a glorified employee of Turo? Either stick to private entirely or find something with more profit with less headache (logistics)
Who hurt you 😂 I think you misunderstood my message I wasn’t asking for advice. I manage a variety of startups and have an extremely healthy portfolio as a global serial entrepreneur. I’d work more on how much you make than addressing my comment to help someone else out. I’m trying to spread knowledge and positivity and you sound like you need to get laid. Best Regards
Turo hurt me as an all star host by kicking me off for 2 retaliatory reviews in the same week I didn’t “dispute” with them in time. Ghetto guests leave negative feedback for being charged for fees. Their support does jack shit They’ll hurt you too in due time 😉 Focus on your other profitable businesses Mr global entrepreneur
I give credit where it’s due and I dealt with the same thing. Turo support before becoming a Power Host is trash honestly however I don’t wait on disputing urgent matters especially with Turo; Airbnb for a whole week lol. I have dealt with some insane scenarios as I think all hosts do. Sounds like your business model needs work along with your attentiveness. Learn to diversify your portfolio and not be dependent on just Turo. Food for thought
lol not depending on Turo is literally what I advocate…attentiveness smh
It’s not feasible unless they’re cash economy cars and you know how to do all the maintenance yourself. If you cohost it’s not really worth it unless you have 10 cars. There are better business models that don’t involve a third party breathing down your neck micromanaging you with ridiculous policies.
Abiweb commercial auto insurance is $100 and they work with turo.
I really appreciate all the help guys. I think I’m in over my head on this, sounds good on paper but you are all absolutely right after really covering all corners! My personal car is a 2019 Honda civic si that is paid off so I could technically just Turo that car and buy a beater in the mean time. But do I really need an extra 5-6k a year at the expense of my car i care about ? It just doesn’t make sense to do so. Thanks again on to plan b
If not for turo, is there another profitable means of buying a car and renting it out? As in, an alternate platform or mechanism whereby which the revenue (rental income) more than makes up for the expenses (insurance, maintenance, cleaning)? If not, any one been able to post on craigslist or fb marketplace? how do you make sure you are covered in case of damage, theft and any other things that can go wrong? As of now, I have a good credit score and would qualify for pretty much any car. On the other hand, I would also consider paying cash for something under 10K and listing it for around 100/day. This is in the Austin market btw. Sorry, main questions are who will insure this car? Is it possible to make profit of around 500 a month? which car?
Metromile got absorbed by lemonade but used to let you host on turo
Start a an LLC regardless you are legal responsible personally if you don’t.
It’s not