Author Topic: Has rented or used Turo car rentals?  (Read 426 times)

9-Volt

  • 5 O'Clock Shadow
  • *
  • Posts: 34
  • Location: Vancouver B.C.
Has rented or used Turo car rentals?
« on: July 26, 2018, 03:36:47 PM »
I was thinking of buying a camper van and to recoup some of the costs I was thinking of listing on Turo. Has anyone listed on this site or hustle their own rentals? What should I know going in? I was thinking of a used van from Japan converted into a camper. Please don't tare me a new one for not having all the details, Im just daydreaming when I should be working :).

sokoloff

  • Handlebar Stache
  • *****
  • Posts: 1184
Re: Has rented or used Turo car rentals?
« Reply #1 on: July 26, 2018, 04:03:00 PM »
As a prospective renter, Iíve looked at Turo several times and itís never come close to making sense as compared to even airport-surcharged rental cars. I think Turo is taking too much off the top to make it make sense for the renters.

HipGnosis

  • Handlebar Stache
  • *****
  • Posts: 1329
Re: Has rented or used Turo car rentals?
« Reply #2 on: July 27, 2018, 11:47:03 AM »
I have rented a car FROM Turo a couple times.  Both went smooth.  Being able to return the car after business hours (and saving another day's rent) was the biggest benefit.

I bought a car earlier this year, and the option of renting it out on Turo was a consideration in the choice of car.
There is a guy near me that has 8-10 cars on Turo.  From average mid-size to luxury SUVs.  I'm thinking about renting from him just to make contact to see if I can get some advice from him.

A Japanese van will make a pretty small camper - that will really limit your potential client base.  Would you convert it yourself??  Have you done cabinet work?

Turo doesn't have a category of camper/RV.  You'd probably do better with RVshare or Outdoorsy.

Before I rent my car, I will definitely install a GPS tracker.  You have to price the monthly service fee. 

9-Volt

  • 5 O'Clock Shadow
  • *
  • Posts: 34
  • Location: Vancouver B.C.
Re: Has rented or used Turo car rentals?
« Reply #3 on: July 27, 2018, 04:02:43 PM »
I have rented a car FROM Turo a couple times.  Both went smooth.  Being able to return the car after business hours (and saving another day's rent) was the biggest benefit.

I bought a car earlier this year, and the option of renting it out on Turo was a consideration in the choice of car.
There is a guy near me that has 8-10 cars on Turo.  From average mid-size to luxury SUVs.  I'm thinking about renting from him just to make contact to see if I can get some advice from him.

A Japanese van will make a pretty small camper - that will really limit your potential client base.  Would you convert it yourself??  Have you done cabinet work?

Turo doesn't have a category of camper/RV.  You'd probably do better with RVshare or Outdoorsy.

Before I rent my car, I will definitely install a GPS tracker.  You have to price the monthly service fee.

The model of van I am looking at are about the size of a dodge caravan, but come with 4x4 and can be lifted for more ground clearance. These can go a lot more places than a C, B or a class motor home, but your right they are not big by any means. I'm thinking of targeting backpackers and euro travelers. There is competition that already does this, "wickedcampers".

 I have done a small amount of cabinet work but I'm looking to on the simpler side and only offer basics. A flat area for a bed, storage bins underneath, a cooler and a bbq/burner.

I will have a look at RVshare/ Outdoorsy, never heard of them before.

GPS tracker would be a absolute must.

bwall

  • Bristles
  • ***
  • Posts: 422
Re: Has rented or used Turo car rentals?
« Reply #4 on: August 01, 2018, 05:32:13 AM »
I was thinking of a used van from Japan converted into a camper.

Were you planning on buying the unit in Japan and importing yourself? Or purchasing a unit already in Canada and converting it yourself? Or one that is already converted?

teltic

  • Stubble
  • **
  • Posts: 129
Re: Has rented or used Turo car rentals?
« Reply #5 on: August 02, 2018, 10:24:04 AM »
I rent my car on Turo!  I've only been doing it for a little over a month...

Car: Hyundai Elantra 2013
KBB value: ~$7k
Miles: 90k

Weekday profit: $23.80
Weekend profit: $28.05

Mileage included (I used default settings)
Daily = 200
Weekly = 1000

There is a .31 fee per mile over.


Insurance:
I did the Turo basic insurance, which is a $1M liability insurance, $3k out of pocket cost for covered damage on my car.  I receive 85% of the price (the prices up above net profit).

Default setting is Turo Standard, which has zero out of pocket expenses for damages on your car... You will receive 75% of the trip price.

Drivers usually average 100 miles per day.  I should be able to write off the depreciation at .55 per mile... so 100 x .55 x 25% (tax bracket I'm in) = $13.75 in write offs.

It's been a fun experiment so far.  The renter today was an hour late, which was a little annoying.

I have been dreaming of buying a Tesla to rent out on the site... But I'm not sure I have the courage to do that (it's a mixture of face punching myself for a huge fancy pants expense, but maybe it could be a profitable side hustle).

sokoloff

  • Handlebar Stache
  • *****
  • Posts: 1184
Re: Has rented or used Turo car rentals?
« Reply #6 on: August 02, 2018, 10:51:09 AM »
I donít believe you can claim the full $0.55/mile rate, as that rate is the all-in rate for business miles (including fuel).

EfficiencyNerd

  • 5 O'Clock Shadow
  • *
  • Posts: 35
  • Age: 26
  • Location: Toronto, Canada
Re: Has rented or used Turo car rentals?
« Reply #7 on: August 02, 2018, 12:03:52 PM »
I rent my car on Turo!  I've only been doing it for a little over a month...

Question for you, or anyone else who has used Turo as an owner... currently, some days I bike to work while others I drive. I'd like to be able to rent my car out on days that I'm not driving to work. So, my question is - can you set specific hours available for pickup/dropoff? For example, I days that I bike, I usually leave home before 8 and don't get back until after 5. So my car is technically available for the whole day, but I would only be around to give the keys to someone for a few hours in the morning and I'd only be around for a dropoff for a few hours in the evening. Is that a scenario you can set, renting out for the whole day but must pick up/drop off during certain times? Or is there any way you can not be present when a customer picks up the vehicle (eg using a lockbox or something)?

9-Volt

  • 5 O'Clock Shadow
  • *
  • Posts: 34
  • Location: Vancouver B.C.
Re: Has rented or used Turo car rentals?
« Reply #8 on: August 02, 2018, 04:41:04 PM »
I was thinking of a used van from Japan converted into a camper.

Were you planning on buying the unit in Japan and importing yourself? Or purchasing a unit already in Canada and converting it yourself? Or one that is already converted?

I am looking for one in Canada already and I will add a basic folding bed and drawers underneath. I think I found one and I m going to look at it in the next few days.

I was looking at outdoorsy and I am perplexed how to insure this in B.C.. I know that Tuoro and outdoorsy add insurance but B.C. has a weird setup. I have a friend at the gym who is a broker and Im going to hit him up to find out, just haven't seen him in a week.

teltic

  • Stubble
  • **
  • Posts: 129
Re: Has rented or used Turo car rentals?
« Reply #9 on: Today at 01:59:58 PM »
I rent my car on Turo!  I've only been doing it for a little over a month...

Question for you, or anyone else who has used Turo as an owner... currently, some days I bike to work while others I drive. I'd like to be able to rent my car out on days that I'm not driving to work. So, my question is - can you set specific hours available for pickup/dropoff? For example, I days that I bike, I usually leave home before 8 and don't get back until after 5. So my car is technically available for the whole day, but I would only be around to give the keys to someone for a few hours in the morning and I'd only be around for a dropoff for a few hours in the evening. Is that a scenario you can set, renting out for the whole day but must pick up/drop off during certain times? Or is there any way you can not be present when a customer picks up the vehicle (eg using a lockbox or something)?

You can't make yourself unavailable to give a key, but have the car available to rent (if that makes sense).

I have rented a Tesla before, that had his keys locked in the car, and he somehow unlocked the car through his phone.


https://explore.turo.com/turo-go-announce/

Turo is looking to start something similar to where you can remote unlock your car, but I don't see why you couldn't just install something via third party to do so...