"Beldrueger" (Beldrueger)
08/25/2016 at 15:49 • Filed to: None
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"Beldrueger" (Beldrueger)
08/25/2016 at 15:49 • Filed to: None | 1
| 9 |
I’d love some input on why this is a good idea or the best idea ever. If you aren’t familiar with Getaround, it is a car-sharing service. Their biggest competitor is Turo, formerly Relay Rides. They have a vast selection of cars available, but a heavy load of small city cars. The beauty of Getaround is that they install automated locks on your car, so that you can lock or unlock it anywhere. You also don’t need to be there for key exchange. Getaround also covers all insurance, and will find you a dedicated parking spot in SF (a big deal) for $300/mo. I think I could find a dedicated valet spot in a prime area on my own for about that.
My friend recently put his entry level luxury car on the platform and has covered his payment, the parking, and still cleared a decent profit. Now, his performance this last month could be seasonal, but most of his renters are locals, not tourists.
I started poking around on Getaround and Turo, and there are some nice cars posted, moreso on Turo. It got me thinking, what would be a great sportscar or semi-exotic that I’ve always wanted with reasonable maintenance costs that I may be able to breakeven or even make money with? My budget is up to ~$70k. What is the ideal exotic to rent on the platform? I’m zeroing in on a Vantage or 911. Should it be a convertible or a hardtop? I’m leaning towards convertible. This is California after all. Should it be manual or automatic? I’m a manual driver for life, but let’s be realistic. I could likely get more bookings with an automatic.
What price should I post it at? There are currently ZERO Aston Martins on Getaround in SF and three 911's. The 911's are all black cabriolets and start at $230/day $25/hr. What should I plan for maintenance? What color would get the most bookings? I feel like it should stand out. Will people be more adventurous with a rental than if they were buying their own car, or should I just go for black?
Assume that I pay cash and the car depreciates at $1k/mo. Getaround takes 40%, so if I post it at $250/day, I would need to book it for 9 days to cover depreciation and parking. Assume another $500 per month in maintenance, and I would need 12 days of rentals each month. Seems reasonable.
Help me out here. I am very curious to see if I can get a decent return on this, and I would also love to see if I can have an awesome weekend car for next-to-nothing.
TysMagic
> Beldrueger
08/25/2016 at 15:59 |
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the risk of some fool jacking up your car and sticking you with the hassle of the repairs (note, I’m not saying cost - I’m talking about your time and headache) is not worth the investment. And you own an aston, but you only get to drive it for 1/2 the month...that’s not a win to me.
Would it be feasible to get a luxury sedan to rent full time and use the profit to pay for the Aston you could drive full time?
BeaterGT
> Beldrueger
08/25/2016 at 16:52 |
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What differentiates Getaround from Turo?
Turbineguy: Nom de Zoom
> TysMagic
08/25/2016 at 16:59 |
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Seconded. An Aston is probably not the car you'd want to use in a multiple unknown driver scenario. Maybe something with a better record for reliability like Lexus? This dovetails into what TysMagic said in his last sentence.
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Beldrueger
> TysMagic
08/25/2016 at 17:10 |
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Presume that you don’t care if someone breaks it. I’m already there. I’m already detached emotionally from the car.
I’m also not interested in whether or not you can make money with a Lexus. Not interested. I’m sure that may be a better idea. I’m also not interested in just buying an Aston or Porsche cab. I’d rather get a GT4 or GT350. I’m only interested in knowing if I could make a return on one on Getaround. That’s interesting to me. It sounds fun.
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TysMagic
> Beldrueger
08/25/2016 at 17:20 |
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I agree with the presumption of not caring if it breaks, but you’d still need to deal with getting it fixed/making it proper for the next renter - stripping it down to just the idea of profiting, I can see the appeal. Part of why I play the stock market. I use just enough change to get me excited, but not so much that I’ll be down and out if my risking it doesn’t get me the biscuit.
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Beldrueger
> BeaterGT
08/25/2016 at 19:58 |
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I’m still figuring that out, but Getaround has the remote lock\unlock and seems to be much more popular, at least here in SF. Better tech and a better network.
Tapas
> Beldrueger
10/05/2016 at 07:49 |
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Get a CPO Jaguar F-Type convertible (Base or S) with a sports exhaust.
Jaguar is trying to attract customers, their CPO warranty is good - “upto 7 years or 100k miles with road side assistance” good.
http://www.jaguarusa.com/quality-section/certified-preowned/index.html
Also, Jaguar prices usually drop like a body in a lake with the feet tied to cinder blocks. So you can pick up a CPO S convertible in the mid to low 60 thousands (leaving room for you to reach $70k with tax) with no problem.
Here’s a V8S for $60k!
http://www.used.jaguarusa.com/certified/jaguar/f-type/2014-orange-v8-s-4054192.html
Plus, its more reliable and cheaper to maintain when it breaks down.
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Beldrueger
> Tapas
10/05/2016 at 10:29 |
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Not a bad idea at all.
shawnpc
> Beldrueger
05/03/2017 at 14:26 |
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I know this is an old post....but did you decide to do anything? I’m curious about this too.