My TURO Car Rental Business Is DYING!

In this video, I will give you a real look inside my TURO car rental business & tell you exactly why I feel like my TURO fleet is dying!

A TURO car rental business can be a very lucrative side hustle, but like any business, it has its pros & cons, and can cost you big time if you don't have the right strategy!

So watch this video to the very end to hear about my journey renting cars on the TURO platform & be able to make a more educated decision on whether starting a TURO car rental business is the right choice for you!

► FREE Car Sharing Cheat Sheet 💎

► Check Out The Tools I Use For My TURO Business

🌐 𝗪𝗲𝗯𝘀𝗶𝘁𝗲:

► SOCIAL MEDIA

It's time to secure the bag! 🎒🚘

⏱️ TIMESTAMPS ⏱️
0:00 My Business is DYING..
0:17 My TURO Journey
1:02 Elephant In The Room
1:51 Why I'm Reconsidering..
3:14 Nothing But Drama!
5:02 Another Totaled Car
6:22 Now I'm Getting Sued
8:11 More L's
9:51 The Truth About A Turo Business
12:18 Other Options
13:14 Other Hosts Calling It Quits
13:54 Is It Over For Me?
15:22 Still A Play

I guess this is where I put the legal stuff...

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All opinions expressed by Ralph Jarvis are solely Ralph Jarvis’s opinions. You should not treat any opinion expressed by Ralph Jarvis as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his opinion. Ralph Jarvis’s opinions are based upon information he considers reliable, but does not warrant its completeness or accuracy, and it should not be relied upon as such. Ralph Jarvis is not under any obligation to update or correct any information provided. Ralph Jarvis’s statements and opinions are subject to change without notice.

[Ralphmeansbiz]

Should I keep trying to make money with my Turo business or give it all up & start something new?

[Tolbat]

As someone who rents cars turo seems nice, but in the end is just a hassle. Plus people are broke.

[lifetransparently]

Bro!! THIS is the type of real talk that people like me, who is considering getting into renting through TURO, need to hear!!💯💯💯. We need to hear and see that things do go wrong and what to expect!! That hella sucks paying for the Kia and cannot rent it out on the platform!!! Thank you for this info!! You just gained another Subscriber!💯

[MrDjcity]

I started with Turo in 2016 when it was called RelayRides. I grew my fleet to 24 cars, most of which were bought with cash. Turo eventually became more than a full-time job for me, but as rentals became more common, I noticed that some renters would remove parts from my cars to fix their own. It was a beautiful business in the you have one or 2 car, you can try Turo, if you have more cars....Goodluck

[FitFaceBeauty]

I recently closed my Turo business as it was becoming too much. Good luck to you!

[Prestige.Automotive]

2024 will probably be my last year. Mainly bc Turo has changed significantly from 3 years ago. It can still be a very profitable business, but Turo keeps changing policies and I’ve gotten too many claims denied. It seems they are only concerned with the guests. I also found out that people with suspended licenses still get approved by Turo. We’ve even found fake licenses.

My cars are getting up there in miles now so I’ll have to decide what to do. Wear and tear from guest abuse, maintenance and constant oil changed, toll charges, tickets, impounds, etc is slowing the progress significantly. It’s amazing I haven’t put a dent in any car I’ve had ever and some guests can’t keep a car for 2 days without damaging it. It seems any profit I start to make, something happens and I have to dump it back into repairing something. I’m basically working for free at this point. Turo is the only entity making money, they just need our cars lol. The really could care less about the hosts, they just want the guests and the cars.

The early years of Turo were so great, but these last 2 years have not been good. Earnings have been dropping slowly month to month. Dealing with some guests can be nerve wrecking and stressfully. Sometimes you have to know when to move on other business ideas.

Tread lightly if you continue. It seems like most companies, they are to get greedy and money hungry. Best of luck in your endeavors!

[StefanMarquardt]

Congrats on 40k my boy!! Economy cash cars still hitting on my end but definitely helps having employees to do the day to day. Best of luck on the next venture

[irismarie]

I did Turo for about two years. Started a business, but stopped hosting on Turo shortly after mostly because I never really learned how to get cars in my business name so I’m gonna watch another video now.

[twys]

The transparency is much appreciated Sir Ralph.

[MrTechnics]

The hassle isn’t the problem, the problem is Turo is becoming greedy and more customers friendly to the point it’s compromising hosts.

[Carsporttt]

Excellent video. I had 10 cars in my fleet but after several cars got totaled and the others all broke at the same time and not able to access much business credit I think im calling it quits. Ive lost tons of money invested in it and the time involved just wasnt worth it anymore. But hats off to all the hosts that can deal with the craziness of these renters. Irresponsible, Broke, cheap, liars, schizos. I underestimated that severely.

[ashleyhall-relf]

Thank you for breaking everything down about the pros and cons about hosting with Turo

[regg]

Turo power host here commenting from California.

TURO IS DEAD. Turo is dying. Cost of ownership for vehicles has gone through the roof. Daily rates have dropped significantly. It was nice of you got in years ago but now it’s just too risky and not worth it. I’ve went down from 13 to 8, and now 8 to 4… and still considering if I want to stay in as well. I am leaning more towards leaving the business because it hasn’t been as profitable. There are better investments out there.

[beezy_]

You gotta bounce back bro! Even if you don’t want this to be your only business you could still scale down your fleet a bit and make additional income, maybe try buying cheaper cash cars to mitigate risk and avoid loans and high interest rates

[Keepithonestandloyal]

Lord please protect this brother his relentless wisdom is only beginning. A sober and calm mind builds better than any drug or alcohol. I also pray that other young black youths also follow his words.

[jasoncastillo]

Keep going brother, small setback for a major comeback, things happen and luckily for you you had your t’s crossed and i’s dotted. Yes it may be a little bit frustrating and difficult to go through the process but atleast it worked in your favor. Part of entrepreneurship is the grind and grinding is never meant to be easy. Take it as a lesson, learn from this situation as it may not have happened to you before and use it to your advantage! Keep striving! Rooting for you.

[BrazilBro_]

I've been in it since 2013. 35 cars. This is a business that you never have a break. Its a constent hustle. If I want to unlist my cars for a week and take a vacation I lose 10K in rental income. If I hire someone It cuts into the low margins. There is money there which is why I haven't left it yet but believe me I want to

[andyhong]

My personal opinion is that the biggest problem with Turo is with its insurance. It asks user to pay a premium for an insurance that’s not even a primary. And it kinda “scam” by hiding it in a small fine prints of the policy. But on the big UI page, it advertises as if it works like a primary. Once I learned that I’ve been trying to stay away from Turo. It’s cheaper and safer to use established rental car companies since most credit cards auto rental insurance cover renting from them but not from Turo. I think a lot people once they learn this they do the same. After all the risk of blowing up your own auto insurance isn’t worth it

[thewealthyg]

Great video bro! Super transparent look to some of the struggles that come along with the business. So many valuable gems in here🙌🏾

[jasoncastillo]

Keep going brother, small setback for a major comeback, things happen and luckily for you you had your t’s crossed and i’s dotted. Yes it may be a little bit frustrating and difficult to go through the process but atleast it worked in your favor. Part of entrepreneurship is the grind and grinding is never meant to be easy. Take it as a lesson, learn from this situation as it may not have happened to you before and use it to your advantage! Keep striving! Rooting for you. Also in Orlando Fl, and if youre looking to cohost im down to work with you!