Should You Turo Your Car? The Reality of Turo Today

Should you Turo your car in 2022? I answer this question and more after I put my own 2009 Lexus IS250 on the Turo platform. Turo is an American peer-to-peer carsharing company based in San Francisco, United States. The company allows private car owners to rent out their vehicles via an online and mobile interface in over 56 countries. The reality is, Turo continues to make it harder for a business to make money and be profitable. However, it still may be something that individuals with an extra car will want to leverage as another source of income on the side.

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[plumpandfabulous]

I first want to comment on this gentleman's video. I think the video is amazing but as a Turo host myself who has nine cars on the platform. I actually started making money within 3 days of me putting my first vehicle on there. My first car was a 2011 Prius. That I bought and paid cash for. I had been watching videos of someone else who has some Turo cars and decided to give it a shot. I saved up in 6 months $8, 500 and I bought the car from a private person. Just from the rentals alone I made half my money back in a month and a half. So with that being said what you should remember is if you start to use turo all of your maintenance all of your car depreciation all of your mileage is deductible. No one on turos deDucts the gas because it's more lucrative to keep track of your miles because when every customer comes back and return the car you have to take a picture of the car that's when you login the mileage and at the end of the year you get 53 to $0.55 a mile so that makes up for the car depreciation. Now if I am being transparent I pay about 900.00 in insurance per month for the cars. This is not commercial insurance just regular insurance. The accidents are not charged to your personal policy Turo covers all damage under their 750, 000 coverage. They have 3 plans and I choose the 250.00 deductible. I get to keep 75 percent of my earnings. This is a extra business for me and I also work a fulltime job. I park the 9 cars in a parking lot that I pay 300.00 for a month. When they pick up the car I meet them go over no smoking rules and take a picture of their dl make sure it is not expired and that is it. I ask them if they have any questions. I also show them the insurance for turo in the glove box so they will know not to give my car insurance in case of a accident. I say have a nice day.

[carswithsonduren]

Have you Turo'd your car? What was your experience?

[GODSON]

Thanks for your video I found it filled with a lot of informative information pros & cons, I’m basically in the beginning stage of trying to research kearn, and absorb as much as I can about the Turo platform & policies as I can to see if it is a good fit for me and my lifestyle .I’m basically using YouTube as a jumping off point picking as many Turo topics on video that I can find to watch to try and learn from ppl who have already been in the space for awhile. In hopes of picking up tips from their successes as well as their failures so hopefully I can avoid making the same mistakes. But someone told me that I can’t stay on the fence forever and that experience would be my best teacher. Anyway thanks again. Peace!

[miykael]

Great video & insights, thank you! Nice videography too!

[Andradi]

Thanks for sharing. This was the only video I found that answered my question about having an extra car to potentially Turo.

[Bfxx]

You Cannot have any sentimental value towards the car!
See it as an investment it will make you money and in the event of an accident they will pay you every single day your car is out of service!
You literally have nothing to loose is not like you're signing your car away to Turo.
ALSO you dont just book your car to anyone as soon as you get a booking request it is your JOB to screen the driver as much as you can "how long have they been in the app/how many reviews/stars have they received from hostess before"
There is AGE restrictions you can set
You can add a GPS that will track SPEED/TRIP.
Come on guys dont get discouraged try it out!
You will never know until you make the jump.

[AM-mywc]

Hi! Great video well laid out. Can you expand more on the insurance point? Why would insurance be higher when Turo offers protection? Are you saying my insurance company will charge me higher if I put it in Turo use? Thanks!

[MrRedtaco]

Over the years I was wondering what host’s deal with when it comes to Toro. I thought about using Toro since my car is a lot older, mileage is getting up there(for driving, not hosting). For a day trip out of the city I thought that would be good. I personally, for how funky I am when it comes to my own car, I’d never be able to rent it out to a stranger. I deep cleaned the inside of my car that was 12 years old at the time and the nastiest thing I found, like people are gross. Kind of made me wonder about National Rental car companies. Could you or do you have a video of what host’s have to deal with when it comes to vehicles, like, what’s their requirements? I like talking and learning everything car and this one of those. I did search on Turo and I found there was a lot of Tesla’s. You’d think I could find a base Civic, I think it’s a neat kind of service.

[ZeeHK]

This was great, exactly the experience I was looking for as a host in Canada.

I was under the impression that we could not put cars with greater than 150, 000miles on Turo.

I have a 2009 GS350 with over 340, 000km, but she still runs strong and like you said it's bottomed out at the depreciation curve. I'm wondering if I can list it.

I've got an M4 that I wouldn't even think of Turo'ing.

[chipmunk]

Hey, thank you for posting a video based upon Ontario Canada. I've been looking for answers regarding Turo in Ontario Canada not much information out there. I was hoping you would cover issues in the video such as 407 toll bills, red light camera automatic fines mailed to your house, damage issues like a cigarette burn hole in the leather seats and how Turo Canada handles these host issues. Sometimes the parking fines or camera fines don't get mailed out for four and five weeks after the fact how can you possibly get money from the customer this long after?

[andrematte]

It might of been mention in the comments but Inspections are free with certain auto shops

[donovanbryant]

If states already require inspection why would u need to get another one? I live in Florida so I would be fine with getting one but, idk about other states

[markeisharobinson]

Can you expand on the risk such as what happens if the person gets in a car accident

[chickenmuffin]

I think you’re missing a huge point here. Newer cars, and especially interesting cars, you can charge a hell of a lot more for on the platform. I’m currently looking into buying a Camaro because there are none in my region, and I’d of a need to rent it out two or three days and months to make the car payment. This is because the car will demand more money per day. You have to ask yourself why would someone want to rent a 10 year old car? They want to run something fun, new, or sportier than they currently have. Or maybe even more practical.

[krapeevids]

Yeah I just want to test the waters with my new 22 Honda HRV but how does it affect the warranty on the car by renting it out??

[trideez]

Off topic but the camera quality and audio is crisp af!!

[joshualefebvre]

how did you rent a car with more than 200, 000 km's? when i went to host, they required newer than 12 years and less than 200, 000 km's, was this recently implemented and do they grandfather older hosts with older cars?

[ashleysaldana]

Where do you go to get the annual safety checks? And how much do they usually cost?

[aftersolo]

Idk where youre at, but i looked up the qualifications for a car on turo and it shows no more than 130000 miles in the u.s. Thats straight from the Turo website.

[ThiagoGomes-twwm]

I have 7 cars and already deep invested, having alot of damages lately I don't think I would start turo from 0 .