Someone Explain Turo to Me

"Bourbon&JellyBeans" (bourbonandjellybeans)
12/14/2016 at 21:32 • Filed to: None

Because it seems like only a crazy person would sign up for it. I know that I’d sooner rent one of my kidneys before I rented my car. You know the saying, nothing’s faster than a rental car.

DISCUSSION (14)

HFV has no HFV. But somehow has 2 motorcycles > Bourbon&JellyBeans
12/14/2016 at 21:35

Never used it, but I might try it next time I rent a car. I’d love to rent a fun car on my next big vacation instead of another boring compact automatic sedan.

FTTOHG Has Moved to https://opposite-lock.com > Bourbon&JellyBeans
12/14/2016 at 21:44

Here’s the thing - most people aren’t like people on Oppo. They don’t obsess over their cars. I work with a lady that has a gorgeous 2015 ATS coupe...with a huge dent on the front left fender that’s been there for months. When I asked about it her response was “Eh it’s just my car. It’s still nice enough to drive. I might get it fixed eventually.” I live down the street from a guy who put Pep Boys seat covers in a brand new Mustang GT. These are the kind of people who put their cars in Turo.

FTTOHG Has Moved to https://opposite-lock.com > Bourbon&JellyBeans
12/14/2016 at 21:47

Also, if I was leasing a sports car or luxury car I would put it in Turo for sure.

Decay buys too many beaters > Bourbon&JellyBeans
12/14/2016 at 21:54

Because it lets them pay for a car nicer than otherwise available?

I’m real tempted to buy a new 911 and rent it through turo. Once it pays for itself I stop and basically get it for free.

E92M3 > Decay buys too many beaters
12/14/2016 at 21:59

Exactly! I wouldn’t rent “my” car. But I wouldn’t mind having another car (Porsche 911) around to use a few days a month that’s paid for by other people.

Matsayz > Bourbon&JellyBeans
12/14/2016 at 22:07

It’s Airbnb but for cars. We’ve stayed st plenty of Airbnb’s and I might check Turo again for rental prices. We have a third vehicle (1998 Jeep Cherokee) and it’s the only thing I’d consider letting someone who I don’t know drive. I input my ‘13 Golf R into Turo and it said I could charge $35 a day..... meh not worth it.

But I’d sure rent someone else’s car! If the price is right or it’s a cool car

iSureWilll > Bourbon&JellyBeans
12/14/2016 at 23:00

I’m doing a photoshoot for one of the Turo cars tomorrow. Any questions you want me to ask them? It’s a 2012ish Mazda 3 driven by what I think is a college-ish age girl.

smobgirl > FTTOHG Has Moved to https://opposite-lock.com
12/14/2016 at 23:59

Isn’t that actually against the terms of the lease in some instances though? I vaguely remember reading something along those lines but I’ve never leased a vehicle so who knows.

FTTOHG Has Moved to https://opposite-lock.com > smobgirl
12/15/2016 at 00:09

Good call. Two big issues: 1. It probably is against the terms of the lease. But ride-sharing is new enough that it might be a case-by-case basis... if you are doing the occasional Turo is that really the same thing as Avis buying a car to be rented as close to 24/7 as possible? 2. There is a good chance of racking up too many miles and going over on the lease doing this.

FTTOHG Has Moved to https://opposite-lock.com > Decay buys too many beaters
12/15/2016 at 00:12

Banks may be prohibiting this kind of thing in financing agreements now. I’d make sure to check with any potential lenders before starting this process.

DynamicWeight > Bourbon&JellyBeans
12/15/2016 at 12:56

It’s just like Uber and Lyft; they advertise it as “you can rent out your car” but in reality it’s more for a people who want to operate there own grey area business. People buy salvage title cars for cheap and then rent them out to make an extra buck. As long as you stay ahead of the payment/repair you’re making money.

Bourbon&JellyBeans > DynamicWeight
12/15/2016 at 13:48

But as far as I can tell, it’s for higher end cars, right? So there’s the potential to lose money.

DynamicWeight > Bourbon&JellyBeans
12/15/2016 at 16:06

I don’t really think so, there are plenty of Camrys and priuses on there. The higher end cars are going to be the best bargain for salvage title hunters anyway. No one wants a Porsche that was put back together by Steve’s Auto Repair. But a guy who is renting it out? He’ll take the discount.

But yeah, I mean, with any business venture there is the potential to lose money.

Or think about it this way. Say you buy a Corolla with a 300/month payment. And lets say you price it was 30/day. If you can manage to rent it out ten days a month, you’ve paid for your car payment. Then in two to three years you sell it and whatever you sell it for minus the “owed” amount is your profit. This is basically what traditional rental companies do anyway.

I’m not saying it’s a great business venture (I don’t think it is at all actually). But it’s small enough that some people can try it.

Chan - Mid-engine with cabin fever > Bourbon&JellyBeans
01/23/2017 at 14:44

Late model luxury car leases are prime Turo fodder.

If I can lease a desirable car for $700/month, all I need to do is charge around $100/day plus mileage limits.