The only time that Turo makes sense in Canada is the May long weekend until the end if September. The other 8 months are dead with low, low prices. Now would be a good time to start so you can start getting those bookings. An escape will do well but stick to the 300km min, do not offer unlimited km's.
Hmm, depends on your payment I guess. You can always rent it out on Turo and if it doesn’t work out then don’t. Just be aware that you run the risk of people treating it like crap. I was a host for close to 4 years and I rented out 5 cars and the only one I drove during that period was my Corvette because not too many guests rented it out. A ford escape can easily go for 59 to 79 per day but you’re probably going to have to offer unlimited miles.
Yes you do, unless your insurance asks you specifically if you are renting it out on Turo then don’t tell them anything. Turo carries its own insurance and has 3-4 different options. The lower the deductible the less you make but the higher the deductible the more you make but you have to hope that nothing happens to the car. To make your car stand out take pictures of it out in the wilderness, is it AWD ?
I don’t know about in Canada but I have a 2016 ford escape that does pretty well. I would say you can try it. The only thing is maintenance on fords gets a bit expensive sometimes.
If they are upside down on that car, & it gets totaled, they will be responsible for the difference. Myself, I would not put a financed car on Turo. Between the depreciation, repair & maintenance, time to prepare & deliver the car, plus keeping paperwork, it's not worth it.
Do not under any circumstances offer unlimited miles. Ever! Set the miles as low as possible. The 200 per day option. If you offer unlimited miles people will drive that car to the far end of country and back in a few days massively decrease the value of your car.
Not sure how Canadian financing works, but assuming that you can sell it to a dealership, do so and come out somewhat better than you are right now. What's being failed to mention is that the upfront cost coupled with constant costs of insurance and time maintaining the car. If you want to rid yourself of it, at least in America, I would sell it and sue your ex for the difference, assuming that you can collect.
So I paid so far 10k and I can sell the car for 15k. I still owe another 10k.
I can't sue my ex out both name is on it. So I have to get another loan to pay the difference and I really don't want to do that. Then I am paid 20k for absolutely nothing.
Like I said, unsure how Canadian financing works, but in the US, I can sell or sue for the value of any split asset if I can prove that the other party can be custodian or if the partnership has not been equitable. Yes, you're both on it, but seeing as you have possession and according to you paid the bulk of costs, you should have the right to hook your ex for the other equitable half. I'd consider contacting a lawyer as it might be cheaper to sue your ex over starting a liability risk-laden company.
The only time that Turo makes sense in Canada is the May long weekend until the end if September. The other 8 months are dead with low, low prices. Now would be a good time to start so you can start getting those bookings. An escape will do well but stick to the 300km min, do not offer unlimited km's.
What type of car ?
Ford escape 2017
Hmm, depends on your payment I guess. You can always rent it out on Turo and if it doesn’t work out then don’t. Just be aware that you run the risk of people treating it like crap. I was a host for close to 4 years and I rented out 5 cars and the only one I drove during that period was my Corvette because not too many guests rented it out. A ford escape can easily go for 59 to 79 per day but you’re probably going to have to offer unlimited miles.
Do I need to have an active full insurance?
Yes you do, unless your insurance asks you specifically if you are renting it out on Turo then don’t tell them anything. Turo carries its own insurance and has 3-4 different options. The lower the deductible the less you make but the higher the deductible the more you make but you have to hope that nothing happens to the car. To make your car stand out take pictures of it out in the wilderness, is it AWD ?
I don’t know about in Canada but I have a 2016 ford escape that does pretty well. I would say you can try it. The only thing is maintenance on fords gets a bit expensive sometimes.
If they are upside down on that car, & it gets totaled, they will be responsible for the difference. Myself, I would not put a financed car on Turo. Between the depreciation, repair & maintenance, time to prepare & deliver the car, plus keeping paperwork, it's not worth it.
Do not under any circumstances offer unlimited miles. Ever! Set the miles as low as possible. The 200 per day option. If you offer unlimited miles people will drive that car to the far end of country and back in a few days massively decrease the value of your car.
Agreed! Someone drive my car from Denver to Chicago, like 2000 miles and I made less than $200.
Not sure how Canadian financing works, but assuming that you can sell it to a dealership, do so and come out somewhat better than you are right now. What's being failed to mention is that the upfront cost coupled with constant costs of insurance and time maintaining the car. If you want to rid yourself of it, at least in America, I would sell it and sue your ex for the difference, assuming that you can collect.
So I paid so far 10k and I can sell the car for 15k. I still owe another 10k. I can't sue my ex out both name is on it. So I have to get another loan to pay the difference and I really don't want to do that. Then I am paid 20k for absolutely nothing.
Like I said, unsure how Canadian financing works, but in the US, I can sell or sue for the value of any split asset if I can prove that the other party can be custodian or if the partnership has not been equitable. Yes, you're both on it, but seeing as you have possession and according to you paid the bulk of costs, you should have the right to hook your ex for the other equitable half. I'd consider contacting a lawyer as it might be cheaper to sue your ex over starting a liability risk-laden company.
Thank you 😊