200 mile range screams abuse me! Tried Turo a few years ago and had nothing but real problems with clients abusing the car. Smoking, Dirty pets in back seat, dirt everywhere. Sounds like with 200 mile range they're pandering to the vehicle renter and laughing at the vehicle owner. Turo gets paid and you get the bill for repairs.
The IRS mileage rate is also factoring gas… which your renter paid for. Not to mention usually the IRS rate is usually covering a non-revenue generating activity, but with Turo your literally paid to drive it. I don’t think it’s as simple as your making it.
The gas is a minimal part of the cost per mile, actually. If you get 25 miles to the gallon, 100 miles is 4 gallons. If the price of gas is $3.99, the 4 gallons cost $15.96. That is for 100 miles, so $.1596 per mile, I'll round it up to 16 cents per mile in gas. His quote of 58.5 cents per mile minus 16 cents per mile is 42.5 cents per mile. He still lost money on this one.
IF you had not sunk $74K into that non-appreciating asset called a new Tesla, you could have kept running your Passat on Turo and bought another low cost vehicle just for delivery and personal use.
I think it sounds like a great way to rent the vehicle a couple times each month and not worry about a car payment. Maintenance is expensive, but the average Joe can do most of their own maintenance. I wouldn't own a VW to rent out though parts are too expensive if something more than normal maintenance goes wrong, unless you have an extended warranty. Then I guess it would be ok. Personally I will only buy Toyotas brand new. They are the only cars that don't break down and run too 500k with minimal problems. I drive 120k+ a year and Toyotas are the only brand that has made it past 120k without major service being done. That's right in my experience a brand new car lasts for one year of use... My current Prius is at 314k before any major work needs to be done. And it's just CV axles and suspension. Otherwise 1 water pump and 2 wheel bearings. That tax right off is an overall average. Have to find a car that's cheaper to maintain, or like you said a higher end car or sports car that you can charge way more for. So far it doesn't sound bad I thought about renting my Forester XT on that platform but I read too many horror stories of when there are accidents and major damage, the owner gets stuck paying for it all. I would make sure your insurance will cover it no matter who is driving and or how they are driving it at the time of an accident. Thanks for being our guinea pig, mad respect!!!
According to the 58.5 cent deduction you should break even with $117 a day. (0.585*200). This is only if you use the minimum mileage. Why not try $117, or more next time?
Hey mike, I was wondering if you have any experience with Dolly? You can sign up by the app to become either a Lead or Helper. The pay seems pretty good for a helper, offers ranging from $20-150 for scheduled blocks. They are bids tho. Haven’t tried it yet but would to see you give us a break down!
I thought car rental prices are extremely high now due to the shortage of new cars? So, why lower your rental price on Tuoro. You should have been able to charge higher prices possibly 25% less than what Hertz, Enterprise or Avis charges?
It’s a little concerning that no one mentions the IRS deduction includes gas. I’m pretty sure as host on Turo you don’t pay gas. So the true vehicle costs without gas should be around .20 cents on average(counting maintenance and depreciation).
The truth is this client drove the car quite a bit but the next one might not hardly drive it so the best thing to do is just average it out. I have several cars I rent out and you win some and you lose some. I had a guy rent one for 2 days and drove it 800 miles. I have also had clients rent my car and drive 100 miles over 8 days.
It's cheaper to just get a car at enterprise they have unlimited miles unless people wanna drive a Tesla and not just use it to get to one place to another.
I rented a Turo3 weeks ago, the pick up time was at 6pm, and the airline kept on delaying the flight, I always let the Turo host know about the delays, we arrived at 11pm, we got an uber to the TURO, when we arrive, the Turo got canceled at 11pm, so here we were in the middle of nowhere with the car canceled, next day, we got a hot wire, less hassle and lot cheaper, $30 a day. I dont see myself renting a Turro again. Sory guys, I like the Turo idea but not reliable.
⚡Check out what happened on my first ever hosting experience: czcams.com/video/k5-J-8tz4xs/video.html
200 mile range screams abuse me! Tried Turo a few years ago and had nothing but real problems with clients abusing the car. Smoking, Dirty pets in back seat, dirt everywhere. Sounds like with 200 mile range they're pandering to the vehicle renter and laughing at the vehicle owner. Turo gets paid and you get the bill for repairs.
The IRS mileage rate is also factoring gas… which your renter paid for. Not to mention usually the IRS rate is usually covering a non-revenue generating activity, but with Turo your literally paid to drive it.
I don’t think it’s as simple as your making it.
The gas is a minimal part of the cost per mile, actually. If you get 25 miles to the gallon, 100 miles is 4 gallons. If the price of gas is $3.99, the 4 gallons cost $15.96. That is for 100 miles, so $.1596 per mile, I'll round it up to 16 cents per mile in gas. His quote of 58.5 cents per mile minus 16 cents per mile is 42.5 cents per mile. He still lost money on this one.
IF you had not sunk $74K into that non-appreciating asset called a new Tesla, you could have kept running your Passat on Turo and bought another low cost vehicle just for delivery and personal use.
that is the standard deduction not what you actually depreciated your vehicle
I think it sounds like a great way to rent the vehicle a couple times each month and not worry about a car payment.
Maintenance is expensive, but the average Joe can do most of their own maintenance. I wouldn't own a VW to rent out though parts are too expensive if something more than normal maintenance goes wrong, unless you have an extended warranty. Then I guess it would be ok.
Personally I will only buy Toyotas brand new. They are the only cars that don't break down and run too 500k with minimal problems. I drive 120k+ a year and Toyotas are the only brand that has made it past 120k without major service being done. That's right in my experience a brand new car lasts for one year of use...
My current Prius is at 314k before any major work needs to be done. And it's just CV axles and suspension. Otherwise 1 water pump and 2 wheel bearings.
That tax right off is an overall average. Have to find a car that's cheaper to maintain, or like you said a higher end car or sports car that you can charge way more for.
So far it doesn't sound bad I thought about renting my Forester XT on that platform but I read too many horror stories of when there are accidents and major damage, the owner gets stuck paying for it all. I would make sure your insurance will cover it no matter who is driving and or how they are driving it at the time of an accident.
Thanks for being our guinea pig, mad respect!!!
May I ask what Toyota runs Close to 500k?
That whole thing about Toyota being invincible simply isn't true. My friend had a carolla that started having all kinds of trouble at 100,000k.
100,000k miles 😂😂😂
My problem is with people going through tolls and not responding to the charge on Turo.
What happens if the car breaks down, an accident occurs, or a flat tire occurs when renting the car out to a Turo user?
hi, I also do turo and uber. I have 7 vehicles and I just rent a car through uber when all my cars are rented.
According to the 58.5 cent deduction you should break even with $117 a day. (0.585*200). This is only if you use the minimum mileage. Why not try $117, or more next time?
Hey mike, I was wondering if you have any experience with Dolly? You can sign up by the app to become either a Lead or Helper. The pay seems pretty good for a helper, offers ranging from $20-150 for scheduled blocks. They are bids tho. Haven’t tried it yet but would to see you give us a break down!
I thought car rental prices are extremely high now due to the shortage of new cars? So, why lower your rental price on Tuoro. You should have been able to charge higher prices possibly 25% less than what Hertz, Enterprise or Avis charges?
It’s a little concerning that no one mentions the IRS deduction includes gas. I’m pretty sure as host on Turo you don’t pay gas. So the true vehicle costs without gas should be around .20 cents on average(counting maintenance and depreciation).
The truth is this client drove the car quite a bit but the next one might not hardly drive it so the best thing to do is just average it out. I have several cars I rent out and you win some and you lose some. I had a guy rent one for 2 days and drove it 800 miles. I have also had clients rent my car and drive 100 miles over 8 days.
it also said that price was for trucks and panel vans which cost much more to maintain than your passat
Not to mention gas is a huge contributor to that.
Wow, this was so long winded and painful to watch. TL;DR he made $0.38 per mile on the rental because the client drove like 650 miles in 4 days.
Not sure why you would factor in dollars per mile ratio...you aren't driving the vehicle.
Thank you Mike for taking the L renting your car on turo so I don't have to..thank you
are you able to charge for the difference in fuel levels if the customer does not fuel the car at the drop off?
@sean yes
Stranger Danger!
It's cheaper to just get a car at enterprise they have unlimited miles unless people wanna drive a Tesla and not just use it to get to one place to another.
You can a car on enterprise with unlimited miles for 100$-120$ a day
$82 fees ? That’s insane
TKS for video Are you still rent it?
$99 for a passat is nuts! 🤣
Thought you owned a Tesla? So you could've worked?
I rented a Turo3 weeks ago, the pick up time was at 6pm, and the airline kept on delaying the flight, I always let the Turo host know about the delays, we arrived at 11pm, we got an uber to the TURO, when we arrive, the Turo got canceled at 11pm, so here we were in the middle of nowhere with the car canceled, next day, we got a hot wire, less hassle and lot cheaper, $30 a day. I dont see myself renting a Turro again. Sory guys, I like the Turo idea but not reliable.
if renting on turo rent out an ev
Horrible analysis with me $/mile
Comparing with delivery does not make sense, you invest a lot of time there.
Turo no thx
Mr Brian Nelson is the best, recommending him to all beginners who wants to recover losses like I did
the way you clickbait your videos is the reason why I am unsubscribing
no one CARES, he will get more subscribers anyways
The video was helpful for me. I learned not to use Turo as a side hustle. Too much trouble and a generally not making any money.
Pretty much all CZcamsrs clickbait at this point
Seems like you’re taking a huge risk for a small paycheck.