[aerostar]

I was thinking of buying an economy car and renting it out on Turo for some side cash.

I posted a fake Kia Rio for now w/ a bunch of pics etc but haven't gotten any hits.

I'm in NJ about 30 min from Newark Airport.

Anyone have any feedback?

[TXSTYLE]

A buddy of mine and I are considering leasing @ 4 Jettas and trying this out.

[Run Silent]

Originally Posted by aerostar

I was thinking of buying an economy car and renting it out on Turo for some side cash.

I posted a fake Kia Rio for now w/ a bunch of pics etc but haven't gotten any hits.

I'm in NJ about 30 min from Newark Airport.

Anyone have any feedback?

1) What are you charging for it? A Rio is a shitty car, so it better have a ridiculously low daily rate, or whats the point? I mean - I can rent a Corolla from AVIS at Newark for like $30/day. The only cars that do well on TURO are highline or specialty vehicles.

2) I probably wouldn't advertise in a public forum that you are violating TURO's terms of service or fraudulently offering a service.

[aerostar]

Originally Posted by usshelena725

1) What are you charging for it? A Rio is a shitty car, so it better have a ridiculously low daily rate, or whats the point? I mean - I can rent a Corolla from AVIS at Newark for like $30/day. The only cars that do well on TURO are highline or specialty vehicles.

2) I probably wouldn't advertise in a public forum that you are violating TURO's terms of service or fraudulently offering a service.

Eh, don't really care. If they ban me then so be it.

I clearly want to gauge interest prior to diving in head first.

Also, the Rio has a low rate, yes. It's set automatically by Turo. I looked at a few other economy vehicles and they have extremely high rental rates.

[Run Silent]

Originally Posted by aerostar

Eh, don't really care. If they ban me then so be it.

I clearly want to gauge interest prior to diving in head first.

Also, the Rio has a low rate, yes. It's set automatically by Turo. I looked at a few other economy vehicles and they have extremely high rental rates.

Interesting. I didn't know it was automatically set by TURO. Do you mind me asking what rate they assigned it? What Year/Miles was the pretend Rio? Honestly curious.

[aerostar]

Originally Posted by usshelena725

Interesting. I didn't know it was automatically set by TURO. Do you mind me asking what rate they assigned it? What Year/Miles was the pretend Rio? Honestly curious.

Was a 2018 Kia Rio.

They priced it at $35 a day.

At that rate even with half booking I'd be beating the lease/finance payment by quite a margin.

If you never drive the car you don't even need to insure it since Turo provides insurance once it's in the renter's hands.

From what I understand most people re-sell the cars after 12-14 months.

[FC4]

Are you really that desperate for an extra $500 a month?

[Run Silent]

Originally Posted by aerostar

Was a 2018 Kia Rio.

They priced it at $35 a day.

At that rate even with half booking I'd be beating the lease/finance payment by quite a margin.

If you never drive the car you don't even need to insure it since Turo provides insurance once it's in the renter's hands.

From what I understand most people re-sell the cars after 12-14 months.

Very interesting. Daily rate is more or less in line. Not sure about your insurance statement, as it may vary by state. In my state, to have a license plate on the car, it has to be insured in the same name as the person the plate is registered to. Period.

[aerostar]

Originally Posted by FC4

Are you really that desperate for an extra $500 a month?

The Kia would be testing the waters.

I'd eventually expand into a fleet.

All the research I've done points to that you need more expensive vehicles as they make a *lot* more income.

[MarkDemma]

Originally Posted by usshelena725

2) I probably wouldn't advertise in a public forum that you are violating TURO's terms of service or fraudulently offering a service.

I'm gonna echo that sentiment. It's not just that you are violating the terms, it's really a dick / selfish move to make.

I've rented through Turo before and the only really unpleasant experience with it was someone doing essentially what you are wanting to do. Thankfully the Turo folks stepped in and helped else a special birthday weekend I'd planned for my partner could have been ruined or at least really inconvenienced.

Don't be That Guy man.

[Alfisti]

I don't get how you make money. Considering the cost of the vehicle, maintenance, storage and the time and effort needed to meet people and deal with the hassles of renters.

[tdott]

I'd prefer a regular rental car over a new Rio.

Your availability and pickup options also matter. For travelers flying into an airport, they are looking for options that offer free curbside dropoffs, then the less convenient options, the more convient you can make pickup/drop the better you will do imo. Those that offer that good service will get more traffic.

As per cars, I don't think econoboxes will do well on Turo vs Rental companies. I'm sure they can do okay, but I think the niche vehicles that are higher priced at rental companies are where it's at. SUVs, Convertibles, Luxury cars, sport cars are where more Turo renters would be looking.

But i'm just guessing, not real data. It will also depend on the area/market.

LAX seems to be a busy market for Turo.
Cars in my area (West Palm Beach) seem overpriced, so perhaps there is a real opportunity there, just not sure if the demand is there, or what would be more in demand.

[Alfisti]

Luxury cars make sense, they are 60% of the price of a formal rental for the most part.

[MarkDemma]

Originally Posted by tdott

I'd prefer a regular rental car over a new Rio.

Your availability and pickup options also matter. For travelers flying into an airport, they are looking for options that offer free curbside dropoffs, then the less convenient options, the more convient you can make pickup/drop the better you will do imo. Those that offer that good service will get more traffic.

As per cars, I don't think econoboxes will do well on Turo vs Rental companies. I'm sure they can do okay, but I think the niche vehicles that are higher priced at rental companies are where it's at. SUVs, Convertibles, Luxury cars, sport cars are where more Turo renters would be looking.

But i'm just guessing, not real data. It will also depend on the area/market.

LAX seems to be a busy market for Turo.
Cars in my area (West Palm Beach) seem overpriced, so perhaps there is a real opportunity there, just not sure if the demand is there, or what would be more in demand.

I think they are better for you want something that your regular rental companies don't offer. When I used them, I wanted something fancy to take my partner up to Napa for a birthday weekend trip and got a M4 for the weekend. I've also used them for times I had before mentioned 330 in the shop for a few days and thought it would be cool to try out a specific model of BMW I was considering replacing the E46 with and you can't really rent those, in the US at least, at a regular rental place.

But you are right, under most circumstances the usual rental places are going to be easier and probably cheaper, if you don't mind driving around in the usual super basic rental car.

[aerostar]

Originally Posted by MarkDemma

I'm gonna echo that sentiment. It's not just that you are violating the terms, it's really a dick / selfish move to make.

I've rented through Turo before and the only really unpleasant experience with it was someone doing essentially what you are wanting to do. Thankfully the Turo folks stepped in and helped else a special birthday weekend I'd planned for my partner could have been ruined or at least really inconvenienced.

Don't be That Guy man.

Don't really see how it's being a dick.

You would input your dates and submit and I would quickly reply w/ a no. Then you'd go and find a different car.

[damageprone]

I have a buddy in town renting out his F80 for $150 a day pretty regularly. He rarely gets to drive it.

[Alfisti]

Let's call that 20 rental days a month so $3k in pocket or 36k year. Factor in depreciation, maintenance and time/effort, is it worth it?

[TXSTYLE]

I never really thought much of this until my buddy introduced me to a guy who has @ 20 cars, including 2 luxury and a Stingray. He's making a pretty nice grip.

[MPBK]

Originally Posted by aerostar

Was a 2018 Kia Rio.

They priced it at $35 a day.

At that rate even with half booking I'd be beating the lease/finance payment by quite a margin.

If you never drive the car you don't even need to insure it since Turo provides insurance once it's in the renter's hands.

From what I understand most people re-sell the cars after 12-14 months.

I get the model of recoup-ing some money while the car is sitting in the garage, doing nothing.
But to do this on a full time... buying a brand new car just to rent it out and have cash positive flow... if it could be done, it is being done by Hertz and friends, don't you think? Or better, Turo would do it themselves. Why let you get a piece of their pie?
What makes you be able to do better than Hertz, with their economy of volume, versus your 1 car? If you think you have cash positive flow, likely you forgot to include the incidental costs, like repair/maintenance.
People suck and will destroy your car. Have you accounted for that?

[FC4]

Why not just get a job? Ya know...like normal people?

[damageprone]

Originally Posted by Alfisti

Let's call that 20 rental days a month so $3k in pocket or 36k year. Factor in depreciation, maintenance and time/effort, is it worth it?

I can see that it does take a lot of planning on his part to get the trips planned and such on his end to work with his own personal schedule.

But if you have a job schedule that works with I guess it's worth it. You can have a "free" car in two years time.

[aerostar]

Originally Posted by FC4

Why not just get a job? Ya know...like normal people?

Did you read the thread?

I have a job, it's for side cash.

Do you think I'd rent out ONE Kia Rio as my main source of income?