Transcript for:
Maximizing Turo Rentals and Earnings

I get asked all the time what cars are the best cars for turo and while we can talk all day long about which cars make the most money which cars have the highest daily rate as well as which cars are historically the most reliable it's really impossible to figure out exactly which cars are the best performer due to the fact that you don't really ever know how much cars actually cost to maintain enough keep and while we can talk all day long about which cars make the most on turo which cars have the highest daily rate at the end of the day what actually matters is which cars have the highest return on investment and which cars make the most profit after all expenses are paid which cars dollar for dollar make the most money and while it's virtually impossible to figure out which cars have the best Roi on turo as a platform I do know which cars of mine and my own Fleet are the best and worst performers and so in this video I'm going to break down my top three best and worst performers from an Roi perspective and my own turo Fleet but before we dive into that many of you know that I've been a turo host for over 6 years and I currently have 27 cars in my fleet that generate me between $25 and $30,000 in semi-passive income every single month and if you would like to do the same then you're in love because I have taken my systems processes and everything that I know and I've squeezed it into over 7 hours of course content and put it into my course the car sharing Master Class if you're watching this video between November 9th and November 30th then take action now and use the code Black Friday 200 to get $200 off the purchase of the car sharing masterclass this is the biggest sale what ever run and once it's over it w be back until next year November 2024 in the car Shing masterclass I'll show you everything that you need to know about starting your own turo side hustle everything from llc's how to work with insurance and turo protection packages what type of cars you should buy where to find below market value deals on cars how to set up automated communication methods and even what to do in the case that your car is in an accident or it's damaged as well as everything in between click the link down in the description below to start making some semi-passive income today now whenever it comes to R why and a profit in my turo fleet it can be really tricky to gauge which cars are actually the best performers because I've been a turo host since 2017 and believe it or not some of the cars that I have in my current turo Fleet are cars that I've owned since 2018 and so whenever we look at the ROI of a vehicle of course the cars that I've owned for an extremely long time have a higher return and so whenever I was coming up with this list of my three best and worst performing cars I decided to not only take into account how the cars are actually performing but also how the cars are trending and I also took into account not only the cost of the car at the point of purchase but also the cost of ongoing maintenance and repairs as well this way we can get a much more accurate picture but we have a lot to discuss in this video so let's dive in and we're going to start this off with the third best and worst performing car and the third worst performing car in my fleet is my 2015 Kio this car was a mistake when this car is rented out it does very well in fact many people like the Kio for some reason but the problem is it's never available to rent this car is a 2015 it had 100,000 Mi at the point of purchase and we paid $6,700 for it which if I'm being honest is a bit embarrassing to admit we bought this car when car prices were still very high and I know now in hindsight I was just eager to get a car and we went against everything we knew about Kia and we bought one anyways now we actually not in the red on this car this car has made about two times its cost in the last 22 months but of those 22 months this Kia Rio was completely out of commission for four of those months due to Extended repairs that needed to be made and unfortunately just this week as I'm recording this video it was announced that this key ARA would be unlisted from turo because of a recall that has no remedy which was a real bummer now on to the third best my third best car in my fleet is actually my highest earning car in my fleet and that is a car that has been my top performer since we bought it and that's my 2009 Mercedes-Benz C300 now I was actually debating on whether or not I wanted to include this car in this list because in some regard I think this 2009 Mercedes is sort of a one-off exception now this car has not only performed exceptionally well as it's been listed on turo but it's also been pretty much repair free aside from your regular maintenance that every single car needs this car has made about $32,000 after expenses over the last 2 and a half years and the car only cost 6 grand now the reason why I was hesitant to even include this car in this list is because I actually purchased this Mercedes from my parents who both work from home and as a result this Mercedes was extremely low mileage because it was never driven even before we bought the car HP did most of the maintenance and repairs on it and before HP did a dealership did so whenever it came to a low maintenance clean and well maintain vehicle well you couldn't get much better than this car and this is in large part why I think it's done exceptionally well on turo and why it's been pretty repair free but even while it's been listed on turo for 2 and A2 years it's been abused by renter after renter it has still needed very little in fact I would say it's pretty bullet proof knock on wood and this Mercedes actually inspired us to add this 2013 Mercedes which we added to our Fleet in September and truthfully this 2019 Mercedes C300 has given both HP and I a new found respect for Mercedes now on to the second worst performing car in my fleet and that is my Lexus ES350 and this one probably is a bit of a surprise now HP and I have owned two Lexus ES 350s in completely different year models and both of these cars have performed poorly one was because of market demand and the other was because of some crucial errors that HP and I made during the purchasing process we bought our first Lexus ES350 in February of this year it was a 2017year model and it was listed on getar around this car went out on One Singular rental and it never went out on another now we bought this Lexus specifically for getar around and it was right around the time where getar around as a platform was beginning to tank so I don't really know if the lack of Demand with this 2007 Lexus was due to get around or if it was due to the Lexus but regardless it did not perform well at all and we ended up selling it a few months later then in July we bought a 2013 Lexus ES350 we bought this car because our Mercedes did so well and our thought was okay the Mercedes C300 does well the Lexus will do even better but we made a few major errors our first major error was the cost of the car we paid $1,750 for this car and while that was $2,000 below market value for the year condition and mileage of the car it was a lot more than we typically pay for cars in fact this was aside from our Maserati gibli the most expensive car we've ever purchased for turo and in hindsight this was definitely a mistake because we wanted the ROI of this Lexus to be the same as the ROI of a Mercedes but truthfully we sort of set our Lexus up for failure because we paid twice as much for the as we did the Mercedes and there was no real reality where the Lexus would actually earn twice as much on turo and so right from the get-go it kind of underperformed compared to our expectations another major problem with the Lexus was the fact that this car did have hail damage the reason why we were able to get this car below market value was because of the fact that the car did have some hail damage on the vehicle from a hail storm that happened this summer now we actually didn't think that the hail damage would make a big difference to turo guess because we have other cars in our fleets that also have some hail damage our one big misstep was taking into account the luxury renter we should have known that a luxury renter would not want a car with even slight hail damage guest took note of it it didn't get rented out as well as we thought and a few guests even complained about the hail damage and this definitely left a bad taste in her mouth I had buyers remorse with this Lexa shortly after purchasing it and we actually sold it just this week for the same price we bought it for we had it on turo for a couple of months and we made about $1,000 after expenses if you follow my Vlog Channel that I have with my husband HP it's titled Aubrey and HP we probably will make a standalone video about this Lexus describing what happened and why we ultimately ended up selling it in more detail but the major mistake here with the Lexus was number one paying too much for the car especially with how much it could realistically be rented out for and number two misjudging how luxury renters would react to hail damage economy renters don't care about hail damage but luxury renters do but I'm just happy to have that car gone and now I can use the money that we took from that sale and buy two to three cars that will perform much better now on to the second best car in my fleet and this is is my 2011 Ford Focus this car was actually total just a couple of months ago we actually ended up buying it back repairing it and now we're selling it but it is no longer on turo and it hasn't been for a couple of months now we bought this car for $5,000 it had under 100,000 mil at the point of purchase and it was fully loaded which is actually rare for my fleet now when I was making this video I was looking for cars that have not only made consistently great income but have been consistently issue free and while this word Focus isn't the highest running car in my fleet in fact it isn't even top three it has been rented out every single month consistently since we bought it which means throughout the entire ownership of this car it never had any major repairs which is a huge plus once we end up selling this car this car will make about $20,000 in profit this car has been an excellent performer it's had next to no issues and it's one of the few cars in my fleet where I was genuinely sad to see it go now drum roll please my best performing turo car now this car isn't a looker but it is absolutely a performer and that is my 2007 Ford Focus my 2007 Toyota Ys 2012 Mazda 2 and my 2007 Ford Focus were all contenders for this prize but the deal breaker here was maintenance my 2007 yurus had a trans problem last year and my 2012 Mazda 2 blew its engine shortly after we bought it which knocked both of these cars out of first place and while my 2007 red Ford Focus isn't the best looking car on the road it is extremely reliable and it does extremely well in turo this car is my cheapest car in my fleet it's only rented for $26 per day and while I don't know the exact figures of it's historical profit since when I first started turo I didn't keep as detailed books as I do now but based on my estimations this car has made about over 40 Grand in profit and it only cost me $2,300 to purchase when I say that this car has been bulletproof I truly mean it while this Focus does need the occasional motor mounts replaced which only cost about $ 20 to $30 it's needed basically nothing else other than typical maintenance at every car needs we did reseller price to se covers which I think made a big difference we also upgraded the radio and we've been tempted to paint the car as well because the pain is starting to look rough but other than these optional items which you've added to the car to really enhance the customer experience this car has needed nothing and while this car doesn't perform as well today as it once did because it is a 200,000 M car that's now 16 years old it has had an excellent career on turo and we will be keeping it on the turo platform as long as we're able to but this vehicle has really given me the confidence to go into the low-end economy space and it really proves that people are just looking for affordable reliable cars to drive because this car is one of my most utilized cars in my fleet it is basically Al never he and it gets rined out all the time and finally last but absolutely least my worst performing car in turo my 2012 Ford Fusion HB and I've owned two Ford Fusions for turo the first one we owned years ago it had a ton of issues but it did really well on turo but we ultimately ended up selling it and then despite the fact that we said we would never buy another Fusion we did anyways and this one has also been a bit of a disaster do you notice a trend here I own two Kia two lexuses and now two fusions there is definitely a trend here we bought this car at the very end of 202 22 almost exactly 1 year ago and we paid $5,700 for this car and it's been a disaster fortunately it seems as though all the major repairs on this car have worked but shortly after we bought this car it had a PCM failure and basically the entire computer system in the car needed to be replaced and the car sat for a whopping 6 months as we diagnosed and repaired the issue it was extremely frustrating and the PC and repair was really a disaster fortunately HP repaired the PCM so while the car did sit for 6 months it wasn't extremely expensive to repair but it was still frustrating nonetheless so of the 12 months that we own this car this car was only active for six of those months and we are in the red on this car as it's only made $3,000 in profit over the last year so while most of our cars we aimed to make the entire cost of the car back within four to 5 months if not sooner with this Fusion we haven't even made that back in a year so it is officially our worst performing turo car in the history of our turo Fleet I think it's safe to say that we will not be buying another Ford Fusion anytime soon remember that we currently have our sale on the car sharing masterclass the Black Friday sale is going until November 30th you can use the link down in the description below to find the course and you can use the code black friday2 200 to get $200 off that purchase and like always I hope that you guys enjoyed this video if you have any questions comments if you have anything to add I would love to hear it so make sure to leave a comment down below and why you guys are add it make sure to hit the like button hit that subscribe button and hit that notification Bell and I will see you guys in the next video