Starting a Rental Car Business in 2024
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- Опубліковано 10 лют 2025
- Starting a Rental Car Business in 2024
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One iron law of the universe states; the people looking for the cheapest deal around are always the biggest complainers
$$$$
Big time lmao
Lot of truth in that
Nastiest customers and biggest abusers of the vehicle as well.
I have to say, there is some truth and what you're saying but I have the cheapest Turo in my city I'm getting very little complaints. But I also work super hard to make sure my people are happy.
I used to be a landlord but renting cars to people would be a next level nightmare.
It’s insane
Previous turo host….. NOT WORTH IT….. Turo takes quite a bit of the proceeds and let’s not talk about the renters and the headaches involved… it all depends on the vehicles you’re renting and the market/ location you’re located in. Everyone doesn’t have the option of opening your own rental company and the funds it takes to open and maintain that.
Sold my cars in Miami after 6 cars totaled in 1 month!!! Insane!!! People are wild these days!!! Cant rent nothing!!! Always damages claims out of pocket repairs closed insurances lost investments!!! Lost tens of thousands 😢 no more rentals!! We need high class people! For low life animals nothing!!!
You just weren't renting to the right people. Immigrants who just crossed the border from Mexico. THEY are the customers you needed.
@@dmimcghow do you track them .when they are not documented
🥑🥑🥑illegals are notorious drunk drivers ..LA FACTS
Let the drivers be attached to your car's to avoid such and pay them from the monthly earnings of the car... Less damage less drama less tracking but drivers need to be known to their homes with viable guarantors.
🏀lovers
Just wanted to let you know, your advice, collectively across all your videos, has actually taken my game to the next level, appreciate what you do Lucky
I think in order for Toro to work your car has to be paid off and then you can collect it as side income. Extra income is cool then because I had a paid off car that I put on the platform and I was cool with getting $30 a day. $40 a day because the car paid for itself pay for its own maintenance which was very little so it just depends on the situation but the car needs to be paid off in full. That's the first step
Did this as well… until 2 cars were totaled and the 3rd got wrapped up in a criminal operation of robberies and has the VIN tagged by multiple police departments… so can’t drive that car at all. Yeah I’m good now. Made money, but the stress and ridiculous drivers turned this upside down for smaller operations.
Did you get paid out
If big corporate rental places like Hertz keep going bankrupt that tells you a lot about the rental car business.
I’ve never gave in these ridiculous low prices that my competitors offer and I still manage to do well in Turo with my now fleet of 3 cars this a business not a charity … I just work the algorithm of Turo and has not let me down since day 1 , thanks for the straight up info ! IF YOU PAID OVER STICKER OR over 95 %LOAN TO VALUE YOURE ALREADY BEHIND
agree with you .Same with me
@@driodebeica9225 good for you 💪🏻 I’m in Los Angeles bunch of ignorant people not knowing what how they impact the market with their give away pricing
You're close on the insurance in my experience. Just to be able to do Uber/grub hub meant commercial coverage. Cost went from $2200 a year to $6000 a year. They didn't care if owned or financed. But the loan company cares and says that if they find you're doing anything commercial, they'll repo the car. You only find this out if you ask them or when your car disappears.
It’s crazy $$$
@@LuckyLopez777 so just buy what you really can afford with cash and switch to liability only stop buy $40k teslas to do uber
🎉🎉🎉 Hey 👋🏼 Lucky
I’m so glad that I have already done my over 36 years in business for myself.
These days it just seems impossible to start any business during these ugly times. But then again The Economic Ninja keeps saying that during the colapse of our economy it is a great time to start a business. I’ve been brainstorming this for quite a while now.
I wish you the best in business and always keep true to yourself and your business. Blessings from, California, Carlos ❤️🙏😊
Economic ninja🤣🤣🤣🤣🤡🤡🤡🤡
The Economic Ninja's other job is a "public union" Fireman. . .Talk is cheap.
😁
I like the idea of driving a 1990 Crown Vic. Those used to be the taxis in Chicago.
Since its inception in 2013 as RelayRides, Turo has indeed engaged in a race to the bottom. The concept revolves around not investing in expensive cars for rental purposes and avoiding excessive fees to Turo.
Similarly, in Uber, maximizing profits in the business involves driving the most economical car for the highest fuel efficiency, aiding in profit generation and expense write-offs.
After spending 11 hours on Turo, I'm willing to invest more if the car prices align with my budget. Thanks to Andy's advice, I've been negotiating with dealers since 2022 without rushing to buy unless the price meets my requirements.
I’m in MO and Yes the State does offer a Rental/Lease License. It is Required NO. The license from the State Means when a motor vehicle is titled via a rental vehicle license the Business charges the customer sales tax each time it is rented. If a business pays sales tax when the motor vehicle is title a rental car license is NOT Required
I own six running vehicles, and have thought about ways to make money on them. But, I don't think too many people want to drive my 1990 Crown Victoria, and I don't think I'd like the idea of someone wrecking it, either. Guess my fleet will just keep costing me money....
If I were to open a Turo I would rent space from a car repair place and try to staff the desk m-f 9-5. They would get a cut of course.
I made too much to get the lovely "stimulus" for the first 2 rounds. Got Round 3 on something of a technicality (legally - had income but it wasn't taxable). I put it in the market. Took a few years but now my accounts are fat and happy.
Don't understand the people that uuuuhhhhh..... hissed it away, but with a fat P.
Free money
Thinking about starting my own business. Not using turo. In the process of googling trends and searching for cash cars. I’m excited to have my LLC and getting a commercial policy going. Looking for economical cars first then going luxury later in life
Insurance is a scam and always has been. Other than taxes its the second biggest scam in the world. Pay all this money for something that if you try to use it they wont let you.
You can use it on your own vehicle, your own home, just don't waste your time or money thinking a rental car business.
Non sensible comment.
I've always gotten paid out
Cars multiple times
Home once
Good Informative video. Thank you. God bless you.✌👍❤
Ah the good ol government. Make everything so difficult that theres no point on starting. Insurance is a scam. Its a monthly subscription to drive your own vehicle. Registration, annual subscription. Tax, a 2nd annual subscription. Gas taxes, a weekly subscription.
Just from renting cars a few times a year, I can see it'd be a pain in the tush for the average Joe. Maintenance and cleaning, insurance coverage and claims, renters who abuse the vehicle accidents and theft. Remember the old Excedrin headache number commercials? Well, this could be a another one.
whats the point of insurance , if when. u do a claim they drop you!?? So ur paying monthly thousands for nothing??
Seems like a one-time-use kind of thing
@@MustyGrapes yeah so I’ll go ahead and pay $5,000 a month on exotic cars.. & as soon as once is rekt and decide to file a claim now I’m dropped 😂😂🤦🏿♂️ at this point I think it’s better to self insure if u gonna end up getting dropped & probably can’t get insurance from other company’s as well once they find out h were dropped
The biggest issue with EV rentals is how they are rented. Hertz has done a terrible job in my opinion. Recommend: Rent EV's with a full charge. This would allow most renters to drive without needing to recharge. 2. Review the EV with the consumer, making sure they understand it's functions on a base level including charging options if needed.
Currently, consumers are being told where to find the car, no different than when renting a gas powered vehicle. You can't assume people know how to operate and charge a vehicle they have never driven before.
Ev flop
Most people don't read. I rented a Tesla this weekend and read up what to do before starting my journey.
Thanks Lucky. I am researching the possibility of renting cars outright. Rental car Insurance companies seem to be a challenge so far. I am interested in long term rentals or leases by the month.
I wouldn’t rent off turo. They be trying to scam customers saying that scratch wasn’t there or dent. Basically you make money off damages
Sort of bad advice for getting started. Not everyone has a second car to get started and renting out your only car isn’t a good idea at all.
Well if was going to start a rental car business I am certainly not going to now 😂
Good Informative video!
I have 34 cars on Turo and they do an excellent job. I have repeat business from long time customers that makes up 40% of my business and half of my customers Rent for 1 week or longer with 6 renting by the month and 3 that have had the vehicles over a year.
I will gladly pay Turo 10% to handle everything including customers that damage vehicles or when they get stolen etc. Insurance would be a lot more if I did it myself.
Sounds like you weren't very lucky with Turo and blame the platform.
What city you are operating in? It doesn’t apply to all places
Do you have any advice? I’m looking for a cash car since I can’t use my own
It does @@kennyplayer7731
Hey, So I don't understand, if I get Private Renter Insurance to cover me, and I make a Claim it will skyrocket or I'll be dropped. Then why not do Turo whereas I don't worry about the Insurance. (I'm thinking of starting and doing research 1st). Thanks
Thanks for the video
Thanks for all the great content. I'm subscribed.
I'm on the west side of Florida. What is your opinion on getting an LLC for Turo. I have 2 vehicles on the platform and plan on getting another 3.
Any advise would be greatly appreciated.
Flipping hate it when people say rental car business,
How’s it looking on opening a rental car company in 2025.
What LICENSE !?
They want to charge me $25,000 Per vehicle Since 'm 18 and just starting out.... That's for the lowest insurance. I'm currently scouting prices but if I cannot find anything better I don't know what I'm gonna do. Any suggestions? I'm in Toronto Ontario
My Company auto insurance just went up 50%
Good info but you throw out some super high numbers on everything. I pay no where near $600 a month for my rental car commercial policy
how much do you pay? and wich company is it?
Same I feel those numbers are a bit high.
Thinking about having a rental car business
Can I my personal car to make business create a LLC
Thanks for your information
Is no one going to talk about how you do not want to file a claim on your insurance or else they will drop you?
Then what’s the point? Isn’t that the equivalent to not having insurance?
Get ABI or LuLA insurance
I want to do Toro how to get my car under LLC
Nothing but negativity and discouraging 😂😂😂😂
Poor poor rich people with 10 cars on Turo. Can’t believe people with only one car would take advantage of them like this
Can you list your financed car on Turo? In finance agreement it says buyer promises to not rent
I would and keep your mouth shut lol 😂
@@Amg3dprints I definitely won't tell but the thing is is there a chance that they will find out?
@@roni2967 always a risk but my uncle Ben used to say with great power comes responsibility 😂😂😂😂
Free money from the TAXPAYERS not the government! 😂
$$$
i live in orlando, and i work specifically at the airport. i’m want to get into the rental car business. i can park all the cars at the airport for free and they can even pick up and drop it off here
Im in Orlando near Disney if your interested let’s talk business/a Turo partnership?
@@Amg3dprints hey, can we meet in person? I'm in Tampa, but can go to Orlando. Do you have instagram? I'm really thinking about starting car rental business but need proffesional break down of all the stuff.
I would have no problem opening a rental car business in the 80s, 90s and maybe 2000s. After that peoples' driving skills got worse and worse as they rely more and more on these aids like Blind Spot Monitoring. Like are you driving a Kenworth 18 speed hauling a 53' trailer? What do you need BSM for on a 15 foot long car? You just turn your head, there's no blind spot. These people nowadays can't drive a car to save their lives. Rental car business nowadays has to be full of so many losses. People are complete and total idiots. You see them, they be stopping on a yield and yielding on a stop. They eat red lights like it's just a suggestion. You got too many broads in a hurry to pickup their pumpkin spiced latte in the Nissan Altima wit the fuzzy steering wheel cover while putting on makeup.
The backup camera is gold when you do parallel parking. Then I rather easily can fit my car inside a parking space 3ft longer than the car. Earlier I usually relied on the mirror image in the windows along the street.
@@justcommenting224 I don't mind the backup camera and automatic high beams, those things should have been installed on all cars 30 years ago. It's the other ridiculous stuff that makes you question, if I need these things to operate a motor vehicle, should I be trying to operate one in the first place. Like the feature where the seat and/or steering wheel vibrates to let you know you're veering off the road or out of the lane. Like really? Does everyone drive sleepy now?
Those rental car gurus are real quiet right now …
I guess we should all be dirt delivers 😩😭
why insurance so expensive in gusts most of the time pay for insurance?
looks like another monopoly from big players
US not good place for small busness i made more money in my "poor country" then in US
Good time to get into cash for clunkers. I would buy a tow truck if i had a stimulus check... 😮
$$$
You won't be receiving a stimulus check. It cost our country Trillions to fund those handouts and we are now 35 trillion in debt. Are taxes have to increase to pay off the "free" money.
@oleradiodudea.m.4735 yeah... Banksters need all the bail outs.
Make your own money. Taxpayers don't owe you anything
Hi.. my name is Harvinder singh i stay in cananda toronto, I am planing to start a CAR RENTAL business and i have zero knowledge about the business can you guide me through.
What’s your questions
I’m just gonna buy one cheap cash car I can’t use my car 😢
Doesn't sound like it is worth the stress.
4 years later & you still talking about the pandemic & bashing TURO? Get a grip dude & find a new angle.
Because what idiots did back, then affects what people do today. That’s the grip !!!
He’s bashing Turo but I bet he has some cars on the platform lol
@@Takeiteazy89 I have no cars on turo.
@WhoKnows-pw3ju 4 Years later and he was right about Turo
Lucky just tells it like it is. No hype, just real world rubber on and off the road.
Sad to live in a country like this
Am i the only one who thinks his content has become very repetitive?
yup he says same thing every other video and i think he make some stories up
👏👏👏
my big gyatt
$$$
So glad I’m done with turo. Complete waste of time and money
Why
ThumbUp& LeaveComment 4AIgosAll
Woooooooo
My comedian went 3x because I got 10k claim
🚗 💨
❤❤❤
Too expensive
So basically don’t get in the business. Nice . The quotes are no where as expensive as this video says .
The new president Trump 2024
Stop it with the "Challenger" nonsense. I work at a dealership, Challenger drivers are not the problem.
Rent out a challenger then say that. 7 trips in we had a scat pack into a guard rail at 120+ miles an hour.
People suck no thanks.
No. Rental car business is a death trap.
Burning
4TA
Lol
Hey can i join your discord im a big fan and fellow indy
Will be posting our new public group soon
@@LuckyLopez777 Awesome 👍🏼
Buy insurance but can never use it.
Sounds like a married guy and his wife.
Sort of bad advice for getting started. Not everyone has a second car to get started and renting out your only car isn’t a good idea at all.
Well then obviously this isn’t for you lol go find another way to make money 😂