Why Your Turo Business Will Probably Fail
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- Опубліковано 5 жов 2024
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Resources Mentioned:
Turo Host Protection Plans - turo.com/us/en...
Documenting Your Trip - help.turo.com/...
Safety Standards - help.turo.com/...
Details about Turo opening in New York:
techcrunch.com...
Turo Checking in and out of a trip process
support.turo.c...
Turo Deductibles Break Down
turo.com/us/en...
Turo Features
turo.com/blog/...
turo.com/blog/...
Turo Profile
turo.com/us/en...
Instagram: @saimahsexperience
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*I am not a financial advisor. The ideas presented in this video are for entertainment purposes only. You (and only you) are responsible for the financial decisions that you make. - Авто та транспорт
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@saimahsexperience can host tell a gust they can’t use the vehicle to travel out of town? If the guest travel out of town against the host wishes what’s happends
I failed and came back! I bought a Volvo C70 convertible specifically for Turo. A renter ruined my rim and trunk protector on its VERY FIRST TRIP. I had to cancel my next 3 trips while I waited on a replacement rim. Meanwhile my personal car broke down, and I ended up using the C70 as my daily driver. I decided convertibles and sports cars are a bit risky for Turo, but came back 6 months later with 2 SUVs. They've been booked over 20 days a month for their first 2 months with no complaints!
What kind of suv?
@@maximus01152891 2016 Jeep Patriot, 2012 Mercedes GLK350, now a 2014 Volvo XC90 too.
@@JosephLayden thanks. What state may I ask
@@maximus01152891 Georgia
@@maximus01152891 I came here to ask the same question lol
Our VERY FIRST trip the guest hit a 🦌 on the way back in town. But we stuck it out.. 💪🏿💪🏿 Turo has been AWESOME!!
🙌🏼🙌🏼🙌🏼
I have 11 cars in Miami close to 300 trips completed. I have two Porsches (911 and Panamera) one 2022 escalade one 2021 Yukon one 2018 Maserati, two 2022 Acuras , one 22' jeep Wrangler,one Lexus, one mini Cooper and one Nissan versa, only one claim nothing major.
Love to hear it 🙌🏼🙌🏼🙌🏼🙌🏼🙌🏼🙌🏼
@@saimahsexperiencemOST of my knowledge comes from watching u from a couple of years already. The information you have shared is of Great value thank you so much
Nice!
Mini Cooper it is a good car for the turo?
Whats your average profit for the past 6 months?
BX STAND UP!!!
My c300 is on its first trip 😀 I just listed my 430i gran coupe and I’m so excited! Blessings to you Coach Saimah! You are a great teacher and I am extremely grateful for your channel!
Awww thank you so much for the kind words!!! And please let me know if there’s anything you’re curious about and I’m happy to make a video on it ☺️
What insurance are you using
I sell and require a Security Deposit Damage Waiver to all my guests. I charge between $150 - $500 for this and it covers varying damages. I make so much money from this. The $500 covers damages up to my $2,500 deductible.
@@Reverend-Race-Horsey huh
@3m tapestry Well here in Atlanta they damage my cars very much(scratches/dings). Typically the very minor stuff $100 - $250. But I keep the entire deposit and pocket it. Most of the time- I don't even repair the dents. You have to be careful of this though because it's against Turo's policy. I've stopped doing this for now since Turo banned CarSync! I have to learn the new Turo auto-messaging system, lol. 😂
Thank you for your videos! Straight to the point and very well informed!
Great video, I've hosted for three years and my first ever trip the guest destroyed the tire.
It was inconvenient and a major pain but these things will happen.
Turo will fight u tooth and nail to not pay out anything on an insurance claim. They will stall, not return your e mails, phone calls etc. They use a third party to estimate the claim and based on photos only. The repair estimate will be hundreds if not thousands less than 2 estimates in person at your local collision center.
They will tell u take it or leave it. U will spend countless hours with no resolve from Turo.
That is why I went to only paying Turo10% . I expect to either get the repairs paid threw renters insurance, legal action against renter or bite the bullet and pay for damage out of my pocket and write the loss off my income tax.
Seima makes it sound much easier than reality when dealing with Turo.
If u dont believe me, look up their F rating with the Better Business Bureau.
Wow. Thanks for the important information and warnings.
This is your experience. My experience has been the complete opposite. Don’t try to discourage people just because you had a bad experience
Thanks for this video. I’ve been hosting in Charlotte, NC, for 9 months now. I have the HOTT MB Sprinter 2500. My experience was easy for the most part. I make 2k-3.5k every month that i don’t take it off. My first accident was last month. I had to take it off for 3 weeks and that hurt me. I’m financially sound, but I was so mad it was a one day rental. Most guest take if for weeks, and in one, one day trip it was wrecked. SMH It’s back up again, but not fixed. I have to find time to take it off. The guest just keep on coming tho. They don’t care. I just purchased a 2022 Silverado Trail Boss and cracked the windshield the day before putting it on TURO. Needless to say, I lost no money. I just tell the guest everything, then offer a good honest discount. They all except. One thing I’ve learned is, never not offer compensation to your guest. Money makes the world a better place. lol ❤
What is a HOTT MB Sprinter? Just a regular one? Or one for camping?
Do you tell your guest they can’t travel out of town
I have a question, how do I compete with all of the new cars, executive cars, and luxury cars. Won't people just go with the new Corvette or a Kia soul for $20 more a day?
Thanks for sharing all the info.. very helpful and informative.. I was wondering if you know of a commercial insurance company that will cover Turo vehicles ?
🔥🔥🔥🔥🔥🔥 Video.. I've learned so much from your channel.. I refer EVERYONE to your channel..
Thank you sooooo much it’s really really appreciated 🙏🏼🙏🏼🙏🏼
One of my car was on Turo . The car has been totaled but it took 4 months to get my payout. Turo Claim services are very slow
Saimah you're extremely well spoken, love watching your videos!
Thank you so much 🙏🏼🙏🏼☺️
Please get to the point - esp on Turo safety requirements, your obligations as the vehicle owner, their insurance policy …..!
Thank You for All that you are doing for our Planet Earth.... Peace.. Shalom.. Salam.. Namaste 🙏🏻 😊 🌈 ✌ ☮ ❤
Excellent coverage
I sell and require a Security Deposit Damage Waiver to all my guests. I charge between $150 - $500 for this and it covers varying damages. I make so much money from this. The $500 covers damages up to my $2,500 deductible. Or they give me their insurance policy prior to the rental.
Is this an extra? How do you mandate this charge? Seems like a good idea
out of 80 trips I have had 12 claims about 6 of them have been somewhat bad and 1 total loss. Seems rather high incident rates. So far I have pretty much broken even. but mostly because its been taking so long to fix cars, some of my cars have taken many months to fix and thats lost future revenue..
That is a high percentage. Are you in a major metropolitan city? I’m in nyc and a little bit fearful of what that accident rate will be
People are stupid now a days and I mean the people on the road, they are driving reckless. What kind of cars where you posting if I may know?
@@Rdelrio19 2021 BMW
What city?
Hey Serge, there is many variables that helps to prevent that. What market your in, the price point you set your car at, the type of cars you have on the platform. All these add up to a higher risk client. This will require research in your part to help mitigate these issues.
trust me there have been plenty of disappointments but also lots of awesomeness as well. Its been a hell of a ride I think ive made it?
ive survived all my cars get disabled(5) and the shops scamming me and the dealerships incompetence taking 6 months to fix flexplate, and other drive train issues of a poorly purchased vehicle by me however the extended warranty saved me be sure to negotiate a good price for the extended warranty $1250 2-4 years or 30k miles. these shops have spent 20k on 2 of our extended warrnty cars.
Thank you the for the detailed explanation.
Glad it was helpful! :)
Yes, things can and do happen! My 2022 Tesla 3 comes back with more rim damage about every 3rd rental. A zero deductible with Turo is my only way forward.
Funny I have been watching all kinds of turo videos and nobody ever talks about the insurance situation in detail , they all just gloss over it 😂
What kind of insurance do you use when the car is not on Turo? Commercial? Period X?
9:13 why do they charge the guest for insurance if that covers nothing. Is it a scam?
I want to be that insurance provider if that's the case. It's free money
You can sell your insurance coverage to guest or collect a deposit.
Can you use a car that has a salvage title?
Nope
@@myeshaspeaks1 thank you new subscriber.
I just had my car total lost on Turo it was it 13th trip had the car on Turo for only 2 months it just happened. Haven’t spoke to claims as of yet
oh gosh so sorry to hear! But don't worry the process takes time and it is going to get resolved. Just mentally prepare for 6-8 weeks for it to get settled out completely.
Fantastic video, very informative. funny I run into this video. I recall renting a 17' Corvette from you in 2015 out in LA. Backed by all the gems you're leaving on your channel I am definitely going to push forward in starting my Turo side hustle !
no way!!! that's awesome and I can't believe I've doing this for so long lol
Time truly flies. Evidently your business has been doing fantastic. Congratulations
@@saimahsexperience you are now a grandma in the business
Thank you and I was looking for a video like this
You're welcome 😊
My crazy stories.....
Bought a 2020 Orange Mustang Convertible last year for Turo after building up business credit. Was renting beautifully. On the 6th rental, the renter got caught in a thunderstorm, and drove to an underpass.....where all the water flooded the car. Only 1 1/2 months.
This year....bought a 2dr 2022 Blue Jeep Wrangler. The 4th renter from England decides to put diesel in the engine....🤦🏾♂️
Yeah, I've had some bad experiences so far. But pretty good ones as well.
Wow!!! That’s insane. How did the diesel situation end up resolving for you?
@@saimahsexperience Unfortunately, it has been in the shop for over a month. It took that long for Turo to approve the claim. Now I am waiting on parts. Another 3 weeks.
BTW, you definitely are the main reason I started renting on Turo last year. You give great advice! 👍🏽
@@roniram thank you so much! and best of luck getting those repairs done
As always, great info.
Glad you enjoyed it! ☺️
Hi Saimah, I looking to start in TURO. I have 2016 Honda Civic that I own and want to start renting it out to help produce extra cash flow. Any tip you can give me would be appreciated. Also is there another way to reach you?
Thank you so much for all the knowledge appreciate it may god bless you
So glad you find it helpful 🙌🏼
One day I’m signing up for a consultation with you. Hopefully you will be able to help me on my turo journey given that I live in the UK
Definitely and I look forward to it :)
Whats your average profit for the past 6 months, I ask because people is cutting back on their spending due to inflation.
BX STAND UP!!!
Do u have a video on the process of registering as a host and uploading all necessary information to be able to list my first car
Have anyone joined her Powerhost club? If so how did you like it?
problem I'm having right now dont know how to solve, the shop says a 3rd supplement is needed, I have paid for it already but now snapsheet cant get a hold of the shop manager and get additional documents to agree on price. Basically dont pay in tell you get approval for payment from snapsheet and actually have the funds. snapsheet disagreed on the sum and now I cant get my 6k back..... I guess this time I'm doomed. plz make video to warn us about this... no one talks about snapsheet or resolveaclaim....
yes this is a very important point. Having that supplement approved is extremely important before paying the shop. Now it seems like your shop has no motivation of getting it done with snapsheet. I would definitely march down there and speak with the shop owner to get this done or you'll have to take further actions.
Helpful video 👍🏾👍🏾
I follow u like 👍 crazy for tips .. Keep up 🆙 the good 😊 work .. I learn a lot from u .. Be safe an healthy also 🤛🤝😊💕
Thank you!!! ☺️☺️☺️
Do I need additional insurance on top of Turo’s?
Thank you
You’re welcome ☺️
Greetings,
I am new to the Turo platform and recently joined. I’ve had a problem with Turo where the guest drove the car and Audi Q7 while the check engine light came on during the trip and it ended up ruining the engine. Now we’re going to arbitration because Turo believes it’s not the guest fault where I’ve submitted all the proof/evidence that shows that it was clearly her negligence. Please advise with any advice.
Thanks, Raj
Wow sorry to hear that! This is certainly one of the trickiest situations to be in and unfortunately I don't know of any solutions to this one other than fighting as much as you can especially if you have proof.
@@saimahsexperience thank you for your response and do you have any advice around arbitration?
For a few tips had to sit 16 mins, going though your personal feeling and experiences just takes too long. Please just cut to the point and avoid personal feelings. Overall good video.
What should you tell the renter to do if a problem light comes on during their trip?
Great question, shoot to stop driving the car to avoid further damage. But maybe is something that can wait it can be tricky.
I live in a small area so as much as i really want to try this it makes me think I’ll lose my butt. I’ve been back and forth for 6months on it.
Great Video!
Thanks so much! 🙏🏼
Info-Commercials... Voice-Over work, Hunn... You would be Perfect at it!!!😉
lmao, did you say 'bar of marley'?! 😂
Excellent content have been watching fir a while. Do you run your fleet under an LLC ?
yes I do :)
Can you’d roll rent your car on Turo if it was in a previous accident? It’s been repaired with all OEM parts and is not salvaged or anything like that.
Had to downgrade my wheels from 21inch to the 19inch on my S Plaid because of Turo renters 🥴
How is plaid doing on Turo and which market you are in? I have model long range waiting for delivery
What insurance do you use for your car outside of Turo?
The Best Video So Far !!
thank you :)
@@saimahsexperience You welcome!! I just rented out one of my vehicles today for the first time. I’m very nervous and the guest is a first time renter
What personal auto insurance won't drop you if you host on Turo?
Both Geico and Progressive told me it's unacceptable.
The pre trip photos diagram you showed was confusing. It visually looked like you were saying you have to take photos 24 hours or less before the trip starts, but upload them 0-24 hours AFTER the trip starts?
I’ve been taking AND uploading the pre trip photos before the trips start, so you’re saying I’ve been doing it wrong and turo wouldn’t cover me?
So why would you pick any other plan rather than the 60 day plan, seems like a no brainer, no ?
Hey saima is financing a car for your first time a good idea...and what do you think about a Subaru outback? Do you think this model can be profitable?
First trip and my guest gets into an accident 🤦🏽♂️
Who is responsible if the renters got hurt in accident?
do you need to tell you personal car insurance that you putting your car on Turo?
Nope, Turo has it's own insurance, as long as you have your own still active its fine
@@rapidko1 what about if your car is leased?
Yea I had the same question. I’m assuming you would be fine based off this video, but I spoke to an insurance adjuster I picked up driving Uber and she was telling me you absolutely should and how she was working a claim where I guy got screwed over because renter did not want speak to host after accident. I’m in NY and people are just crazy out here .
@@Driving_Intelligence wow I’m guessing they trying to sue that’s why. I’m nervous cause that same reason.
Gecko does not cover Turo cars
My daughter said you look a lot like an older version of iCarly lol Thank you for your content !!!
LOL! That is so funny! And you're welcome!
Hola. Yo contraté un servicio a través de ellos y a pesar de haber entregado el vehículo en perfecto estado, el propietario abrió una incidencia por error, de la que más tarde se disculpó cuando vio las fotografías que yo había hecho antes de la entrega del vehículo. Entre nosotros todo estuvo bien, pero TURO me envió un cargo de 500$ a pesar de las pruebas. Tras reclamar la cancelación de esa factura, me enviaron otra de 250$.
Esta es la forma de actuar de muchas de estas empresas. Así es como están creciendo tanto estas empresas de internet, pasando cargos a tu cuenta indiscriminadamente para quedarse tu dinero.
So where do you park your cars ? thanks
Is Turo able to see the time stamp on an uploaded picture? How do they know if the picture is from 24 hours ago or 3 weeks ago? Videos I took on my camera in July of 2022 were time stamped January 2016 for some strange reason and that could effect my coverage?
Yes they can actually read the meta data on the image files
@@saimahsexperience has this ever happened to you where the time stamp is incorrect? do you take pictures on your phone? or a dedicated camera?
Why does no one talk about what everyday insurance they have on turo vehicles? I feel like turo insurance is only for turo trips. What about when the host is driving the vehicle for everyday use?
Simple! Most people carry regular personal insurance for everyday driving. It's not talked about much because no one wants to get flagged by their personal providers for having that car used for "commercial" purposes aka Turo rentals. Unfortunately, there aren't many good go between solutions where an insurance provider is cool with both scenarios existing. No one wants to be liable. I've done a bunch of videos on partnerships Turo has done with companies like Liberty Mutual and Metro Mile as a solution for this issue.
@@saimahsexperience Thank you so much for the reply and clarifying that point. I feel like carrying personal insurance without declaring the actual use of the vehicle would be more expensive then needed. I say this because the car is rarely driven personally (majority turo, on turo insurance) therefore the personal insurance company is rarely even needed. Can you disclose how you handle personally insuring your fleet?
Question - how do you get a Ozone machine when they are illegal to get shipped in CA ?
Wow it is?
@@mikedelgado9535 yeah CA has strict emissions laws certain things cant be shipped here including Ozone machines.
Your video was very informative. The success of this business is executed by following the CTA method. "Cover Thy Ass"
9:58 can someone clarify here? I think she misspoke about what Turo would pay. She based it on what she owed not what the car is worth. Turo should pay based on the value of the car not the debt. Anyone?
Can you upload a video instead of still photos?
Hi, great video! When we get coverage. Why would the renter get coverage also?
This is the question I always ask! Seems like a hustle if I’m paying for insurance and the guest is too
Renters insurance is a straight scam. That should always be declined.
What if my tires are drag radials
Hey would I have coverage if I took extensive pictures during check in and check out but the guest missed up an axle and I can’t really take a picture of it. But I know because the car is driving od ? Any advice would be helpful it’s a pretty new car 2019
Random but are those fiddle leaf figs in the background? They’re huuuge
Lol they are but they’re artificial 😅
Anyone using specific insurance? because progressive will not allow me to do it on my personal car, any help would be a appreciated
very informative videos but not able to find answers to know what happens in case of potential conflicts arising if guest (at fault) gets in an accident and the other party sues? specially in "at fault" states? is host/ owner of vehicle responsible or Turo + guest become responsible and support any legal fees/ claims etc.? Also, is commercial insurance better (or even available for personal vehicles) or personal insurance policy offered by larger insurance company are ok? So far personal auto insurance company I have spoken to support this.. so not sure if they will drop you off?
Hi Saimah,
What car would you recommend from your experience that I could potentially rent out. I'm looking for cars that have a good ROI. I have $20,000 budget as a start up.
Also Is my car covered incase someone destroys it lol.
Start with cars that are 10k and below. The plan is to start cheap to build a following/ liking so you can become reputable and make money.
beautiful eyes, i mean cars
Saimah, doesn’t Turo prefer you resolve damage/accidents directly with your guest?
In other words, for those that are on the 90 plan, they have the option to use their own insurance or the guests insurance (assuming they have a high deductible also) leaving Turo out of it.
Correct! On the higher plans where deductibles are high *depending on the damage* resolving directly can be more cost efficient. Nonetheless, resolving directly highly depends on the cooperation of the gust and them having insurance eligible coverage. Often times people disappear and stop responding so I think you always want to make sure you’re properly checked in and out of trips in case you need to default back to your host protection plan.
@@saimahsexperience is there a way to LEGALLY force renters to pay for damages they caused? Turo’s TOS says guest are financially responsible for all damage done to vehicles, but we all know humans are shit bags and will not follow that. Most renters probably haven’t even read the terms of service.
As a host, can we have our guests sign some lawyer-drawn-up liability form stating the guest is responsible for all damages under threat of sue? That way they can’t ghost you.
@Saimah Would you rebuy or recommend buying the vanderhall Venice?
I think I would! The only thing I would look up before buying is the read the threads on any issues newer models may have. But other than that great cars!
@@saimahsexperience Thank you. I would look into that.
I'm definitely at a moderately questioning moment now. With one BMW down for recall, and one going in for it's second costly repair in three months, I'm looking at working at least August for free. Early August is slow, like it was last year, but hopefully things will pick up through the second half of the month. That said, I added a nearly new truck a couple days ago, It just came back from it's first trip, and might add another convertible. If you're going to do this, you really need to get to a level of income(cars) that you can absorb the hiccups. I was doing this part-time, and I guess I still am with only three earning vehicles at this point. I wonder what the work load would be like with all five, possibly six going in and out, should I add the convertible.
hi saimah can you please tell me what naics code you use for the llc
you'll want to refer to your cpa or accountant for this. I can advise since it's a financial matter and it depends on everyones individual set up. They will be able to tell you accurately.
Hi Saimah, I love all your videos. My question is about starting an LLC. Do you need a business address separate from your home address? And does having an LLC allow you to purchase more cars?
I have the same question
An LLC allows you to establish business credit, therefore , it allows you to purchase more cars under business credit. The upside to this is when you use business credit, it never reports to your personal credit. As they are two separate entities.
So to answer your question, yes an LLC does allow you to buy more cars thru means of business credit and or business funding👌🏼
@@jokoenterprise thank you so much for replying. Is it hard to roll over a person auto loan to a business auto loan
@@joshhutcheson2504 No worries Josh. I hope that answered your question. As far as transferring a loan from your name to your business name it all depends on your lender who lent you the loan.
First, you’d get permission from the lender to transfer to the debt onto your business
Second, speak to your insurance provider, insurance cost usually go up because your car will now be deemed a “commercial vehicle”
Third, prepare a title transfer form. You would need to go to the dmv to complete the process. I’m sure they will ask for all your business info to register it to your business.
what is bar of marley
I love you Saimah
Does anyone have any tips on Inssurance getting insurance outside side of Turo? I formed my LLC and have my first vehicle but am having a hard time finding someone who will insure it for when it is not being driven by a guest (when Turo isn’t covering it)
I can't verify this but I believe I read somewhere that insurance companies will only do that for fleets (at least 5 cars).
I guess you’d want personal insurance on the car when it isn’t being rented out and you are driving it. Incase something should happen. If the car is not on a trip then the turbo insurance is obsolete
Aka dont tell your personal insurance company anything about being a car you rent out. If something happens to the car while its rented...you go through turo claims
Thank you Saimah for this video, I'm in the LAX airport market and my plan is 75% business was slow but pickup in July I am having damage claims with guest from Europe my new Ford Mustang Convertible being damaged back to back car was in the shop for 3weeks in june and July and right immediately when it came out of the shop first trip came back with a fender and spoiler damage, what do I do? As a power host I can't really decline group of guest from Europe, I usually sense it and almost predictable when checking in. mostly with the guys in their early 20s and they always try hiding or denying damage, this is putting a bad thirst in my mouth already. Any solution advise will be appreciated.
Oh gosh sorry to hear and I know exactly what you means. I used to experience this same thing when I was catering to lax area. Honestly there isn’t a whole lot you can do about it other than change your location and increase your price points to weed out certain renters. The other thing is to take off instant booking that way you reserve the right to accept or decline bookings.
@@saimahsexperience Thanks so much for the reply that make a lot of sense one would think LAX market would be the best market but that's not the case so much competition with people just trying to pay their car note unlike host running a business to make profit. What location would you recommend?
Charge for insurance/deposit.
Just look at videos of LA car enthusiasts doing takeovers. Unlimited drifting and donuts stopping all traffic from moving and surrounded with a crowd and an eventually crashes or running from police. They don't do this anywhere else in the country as commonly as LA does. I would never rent in LA. They even do it with uhaul trucks.
Honestly I smoke when I’m renting a car but I stop by the car wash and vacuum the car out like two through three times wipe interior and clean windows spray the blunt spray and MJ is gone.🤷🏾♂️
Wildn You hella bold lmao 🤦🏼♂️😂
Hi Saimah, just came across your videos on my feed & they are so informative. I have a new vehicle that has a small dent on the rear driver's side. Would I be able to list it on TURO?
Thank you so much I’m glad you find them helpful! Yes you can still list on turo ☺️
Thanks ❤️
Um...............nothing new here, another repeat of Turo rules.
7:30
yes dont watch ANY other video on turo just hers, cause she then gets the views and $$$$ lol
Hml
Your video took too long to get to the point. I disliked your video. Please do a better job of getting to the point.
reach out to me, I have been waiting for a like minded significant other and I finally found you
Hello. You are so beautiful.
Thank you