QUIT YOUR TURO CAR RENTAL BUSINESS NOW! 

Thats awesome!!

Jin S; your experience sounds like a great opportunity. Can I ask you how you made this deal. Are you financing?

@@anibalmorillo2479 first of all my English isn’t perfect..there will be some grammar errors. But here’s my story. I started Turo with $150k that I got from HELOC back in 2017, I built fleet of 19 cheap economy cars mostly Hyundai Elantra and Kia Forte. that year my gross earning was $160k, added 11 more cars in 2018 and gross 260k and secured 5 year 5.9% apr business loan of 500k in 2019. 2020 was slow, gross only 180k. 2021, I sold almost every economy cars I had because of crazy used car market frenzy. Got paid more than what I paid for. Then from Summer 2021, I started buying and leasing luxury cars like bmw,Mercedes,jaguar,Land Rover,Alfa Romeo. This year so far, my gross is $983k The way I stated business with bmw dealer is, General manager in bmw dealer was my regular renter and randomly he asked me to do business with bmw dealer because they had hard time providing customer with quality loaner vehicle, customer complained about getting Toyota Corolla as their loaner from enterprise rental..

$370k left to be paid for the business loan, 34 cars are paid off and 23 leased. Bmw offers car sharing lease program which legally allows you to list on Turo. Only in California but you can make deal with dealer in California and ship or drive your car to your home state. Mileage cap does exist but they cost only $0.23 per mile overage after 15k miles a year. Since my daily rates are minimum $100 with 100 miles allowance a day, I’m making $1 per mile overage, so it’s still worth to pay $0.23

@@jins8144 that’s amazing man. How much is the dealership making from you?

I think they do not make money, people dont take care of other peoples cars. I dont think is a good business. But for a avarage person that dont have to much money to maintain their car etc and buying just one car on tour and be in debt with that car with the company??

When the layman sells, the sharks buy

@@JohnQPublic345 the sharks aren’t coming in to catch falling knives, the “sharks” will wait until they’re repo’d. This is something people that want to feel better about buying say LOL

The sharks will be eating their own shit sandwiches 🥪, commercial real estate is in big trouble, and there’s a lot of other things wrapped up in that besides the physical land and buildings themselves. So many investment vehicles are tied to the market. And inflation ain’t going anywhere folks, we can all see the truth at the grocery store. At the pump, every insurance bill, every utility, all the stuff for my kids. I think there’s going to be a big adjustment in standards of living in the US over the next 10-15 years.

That’s if the cars run properly

@@henryhybridbeats3334 Why would my cars not run right in the first place?

Tell that to @AubreyJanik

2017 Dodge Journey, 2017 Mitsubishi Outlander both are 7 passenger

My business has just picked up again in San Antonio Texas. five of my seven vehicles are rented now.

Wise decision. Keep this comment saved somewhere and let's come back to it in a year. You'll see you took the right path.

@@TuroTactics inbox me or text me brother I’m in San Antonio

You made the right call

It is slower than normal right now. part of it may be because gas prices but also inflation. People are not spending as much money as they use to. I think the civic would be a good car to put on there. just look and see what other people are renting a similar vehicle for.

Thank you Dave! I appreciate the reply. I’ll look more into it.

San Antonio Tx

how? you must be renting out expensive cars

I sse that the NY market is booming now that the laws have changed. I'm still learning but I would say be careful and don't overleverage on vehicles. More and more people will start adding cars there which may create a competitive market. Or long as you have an exit strategy 👍🏾

@@ROCBOYZGURLZ Competition is always good keeps me motivated to better then the next man, but by the time they decide to join I’ll have some skin in the game, meaning I’ll be an all star host and I will be recommended before them.

I see that as well. New Yorker as well but you know as I do when it pours it definitely pours. Keep it simple and don’t over extend or find a way to decrease your risk

What city are you in?

@@TuroTactics LA

@@mariosagas what's your day mileage

Cause it’s a kia

@@TuroTactics earnings are up again, so far this month $1,175 🔥

You won’t be covered by TURO insurance. For remote pick up don’t give them access to the car unless they upload those photos. They have 30 minutes after the trip start time or they are considered a no show.

Good luck Be careful You may not need GAP- unless you contract as a commercial use/ rental car! Same on extended warranty- read fine print. If you finance Get new cars with warranty from dealer- Or secure an auto service shop(s) near you. Double check for recalls- Good luck 🍀

@@anthonygutierrez4546 awsome thank you

Dave, how’s it going. New recommendation- Don’t do Turo-

@@anthonygutierrez4546 why

I am renting the traverse for $75 a day

Truth

i guess having a benz in your fleet is more of a liability than actual upside, now I can see how you could be losing money any given month, shit happens, so yeah.

Turo doesn't reimburse?

@@jaebae7071 not always like they say. They are loop hole 🕳 Savvy. Be ware-

Have you quit yet because i'm thinking about starting up. Any advise?

Ru sure? Coz here in Alberta it’s allowed. Pls reply

Don’t do it- I have GLE complications horror story. Keep your GLC for your self. Especially if it’s a lease.

If you have the Mercedes app, you should be able to track, start, and lock your GLC.

San Antonio tx