The TRUTH About Renting Luxury Cars on Turo

Let's talk about the Truth regarding Luxury Cars on Turo
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00:00 - Intro
What's up you guys! In today's video, let's break down the truth about renting luxury cars on Turo, how luxury cars compare to the low-end economy model and whether or not it is worth it at the end of the day.

02:13 - Course
Now, for those of you who are interested in learning about Car Sharing and how you can start a car-sharing side hustle with the same business model I use with my fleet, I do have a Car Sharing Masterclass this is an A-Z course that shows you how to start a car-sharing fleet with the same business model I use. If you use the Code MASERATI you can get $25 off. Link to the course is below:

02:45 - Why We Chose the Maserati
So, the first thing I want to talk about is why we chose the Maserati. When HP and I came up with the idea to buy one luxury car and put it against 5 low-economy cars we wanted to find a car that had a high perceived value. Something that would be considered a "wow" car, because though we were on a budget for what we wanted to pay we ultimately wanted to make sure we could charge a premium. That is why we chose the Maserati - because though the Maserati Ghibli SQ4 has an MSRP at around $80-$90k, it is only about $30k to actually purchase. We felt like this would be good for us when it came to pricing the car for Turo.

05:47 - Things Taken Into Account
Next, we had to take some special considerations into account. When conducting this experiment we set it to run for 6 months, we took all expenses into account, things like HPs time, Maintenance, Repairs, Tires...etc. The only thing we did NOT take into account was the Maserati monthly payment. We left this number out of the calculations and the reason is that we felt like it would devalue the results by comparing a financed car to multiple non-financed cars.

07:57 - The Results
So, the final results of this experiment were...

12:30 - Final Thoughts
Some final closing thoughts are number one, this experiment really solidified this business model, the low-end economy model. For years I had a feeling this model was the best route to pursue for Turo, but I was never able to prove it, and though this experiment was just 6 cars in my market, I think it did a nice job proving that this business model works. I also think that it showed that if you want to get a high-end car for the sake of using it for personal use and use Turo as a way to justify the cost, I think this experiment also proved that THAT business model could be a great route to pursue as well.

15:16 - Closing
I hope you guys enjoyed this video, make sure to hit the like, subscribe, and the notification bell and I will see you guys in the next video.

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Disclaimer:
I am not a CPA, attorney, lender, or financial advisor. The content in these videos should not be construed as tax, legal, or financial advice...etc, and may be outdated or inaccurate; it is your responsibility to verify all information yourself. This is a YouTube video for entertainment purposes ONLY. IF stocks or companies are mentioned, Aubrey may have an ownership interest in them – Please do not make buying or selling decisions based on Aubrey’s videos. If you need advice, please contact a qualified professional.

#SideHustle #Turo #CarMarket

[terrykhemraj]

Thanks for the breakdown! I have 2 economy cars on turo at the moment, currently searching for another one. You and hp are what gave me the confidence to start this haha

[borg]

Subscribed. Joining the growing number of subs to get you to the 100k milestone. You have great, honest and detailed content. I could almost feel the amount work you and HP put into your business.

[StarAZ]

Very informative but 1 luxury car (and a Maserati Ghibli, which arguably is some of the most overpriced and fastest depreciating car, at that) does not just "end the debate".

[gilsyguerrero]

Very interested and informative. I was waiting for the challenge result. I have a Yaris and corolla listed, were of high demand until spring break. No booking for the last month. I am in Orlando, turístic place, more demand for Suvs, convertibles and electric cars.

[canalotobai]

Good video Aubrey, thanks for this info! What do you think about the Turo Calcularor tool? Is it reliable? I'm buying some cars and I'm taking information from this tool...

[MrMattMohler]

Cool vids!

I'm wondering, say I rented a Turo car and go out of town. The car breaks down. What happens?

With car rental companies I felt safe believing that if something happened, a guy would show up with a replacement car and I'd continue my trip.

What happens in a Turo situation?

[joeyluckow]

Very interesting video. Think it’s fair to say the economy cars are better performing, you even gave the Maserati the bonus money for crashing it when that’s not really something you can rely on going forward to make the comparison. That said, I’d be curious to see the actual time breakdown. I know you said you charged $25 an hour, but I think taking the total made divided by the hours spent, to give you a dollar per hour figure, would be a better comparison analytically speaking. Also not sure where you live so maybe winter weather isn’t a factor but I’d imagine a fun car would rent out more during the summer than the winter. Either way, been loving the videos!

[CarSharingJho]

Very well laid out + very fair comparison!

[Leela]

Haha yes, I follow you and HP on y'all's channel. The Massarti challenge was interesting and VERY entertaining.

[jackboss]

I'm sorry if you already went over it in one of your videos but what insurance plan do you use through Turo? I'm leaning towards the 75 plan.

[StefanMarquardt]

Cheaper vehicles get booked for longer duration creating more passive income

[enboyang]

Thank you for your information. Great video! May I ask what city are you doing Turo at ?

[angelicaponce]

So helpful😊 thank you for discussing this

[kieshatate]

I needed this video I literally had someone tell me my Kia won’t make any money on turo I need to get a bmw etc. like we legit got into a argument and I’m like who told you that 🥴😂

[alexmay]

8:30 how do you track your cars? Thank you!

And what happened with the Maserati? Did you guys get the whole amount of $ from the insurance company? Thanks!

[anthonyamodio]

Appreciate all of your valuable info but where does anyone find cars for under 10k that are accepted on turo? i cant help but wonder every time you mention your economy fleet's cost

[mikeb]

If you don't mind sharing what system you use to trach your cars?

[SERGE_Tech]

how are you able to put a 2007 car on turo I thought it had to be no more then 12 years old

[miketraxler]

What is the amount of hours put into the Maserati vs the 5 Eco cars?

[SERGE_Tech]

my 1 2017 convertible corvette made about 24k in 10 months. financed at 50k, was at 45k remaining when it got totalled. It did 40 trips and I spent about 120hrs on these 40 trips. this is insane thats almost 200 dollar hourly rate if you where to look at it from an hourly pay perspective.