My First 90 Days Renting Cars on Turo
Published on: December 8 2022 by Financial Wolf
My First 90 Days Renting Cars on Turo
Table of Contents
My First 90 Days Renting Cars on Turo
| startTime | durationTime | text |
| 00:00:00 | 00:00:04 | 90 days ago i bought my very first car |
| 00:00:02 | 00:00:06 | to rent out on the turo app in an effort |
| 00:00:04 | 00:00:09 | to build a massive rental car empire as |
| 00:00:06 | 00:00:11 | a 19 year old this video includes 90 |
| 00:00:09 | 00:00:13 | days of near daily documentation all the |
| 00:00:11 | 00:00:16 | way from the headaches i faced to some |
| 00:00:13 | 00:00:18 | crazy successes 704 on one trip and my |
| 00:00:16 | 00:00:21 | journey with this business starts in |
| 00:00:18 | 00:00:22 | march of 2022. i had saved up a lot of |
| 00:00:21 | 00:00:24 | the money i made from youtube in the |
| 00:00:22 | 00:00:26 | last year and i wanted to invest it into |
| 00:00:24 | 00:00:28 | a side hustle that could generate |
| 00:00:26 | 00:00:29 | passive income what's up guys so i |
| 00:00:28 | 00:00:31 | thought i'd come on my story and show |
| 00:00:29 | 00:00:33 | you guys the car i bought yesterday |
| 00:00:31 | 00:00:35 | because the deal did end up going |
| 00:00:33 | 00:00:38 | through this is the ford fiesta 2013 |
| 00:00:35 | 00:00:40 | this is a car known to have all sorts of |
| 00:00:38 | 00:00:42 | reliability issues especially in the |
| 00:00:40 | 00:00:44 | transmission and engine categories sure |
| 00:00:42 | 00:00:45 | enough when i paid a sketchy dude on |
| 00:00:44 | 00:00:48 | craigslist four thousand eight hundred |
| 00:00:45 | 00:00:49 | dollars for the car it had problems the |
| 00:00:48 | 00:00:50 | very next day what do you think the |
| 00:00:49 | 00:00:53 | issue is |
| 00:00:50 | 00:00:55 | i think it's that expensive it's one of |
| 00:00:53 | 00:00:56 | probably the most expensive car |
| 00:00:55 | 00:00:58 | repairs you can get i ended up getting |
| 00:00:56 | 00:01:02 | the car towed back to my house and |
| 00:00:58 | 00:01:05 | between that cost 200. 200 on a head and |
| 00:01:02 | 00:01:08 | the 2 000 i spent on repairs a 4 800 car |
| 00:01:05 | 00:01:10 | quickly became a 7 000 car but |
| 00:01:08 | 00:01:12 | nonetheless i got started renting the |
| 00:01:10 | 00:01:13 | car out after those repairs were made |
| 00:01:12 | 00:01:15 | and this is where our story leaves off |
| 00:01:13 | 00:01:19 | three months ago the ford fiesta had its |
| 00:01:15 | 00:01:21 | first trip on march 15 2022. hello enjoy |
| 00:01:19 | 00:01:24 | the car and in the first month it was |
| 00:01:21 | 00:01:26 | available for rent i earned 346 dollars |
| 00:01:24 | 00:01:27 | in revenue but that definitely wasn't |
| 00:01:26 | 00:01:29 | all profit on the very first trip the |
| 00:01:27 | 00:01:31 | car had it got a flat tire from the |
| 00:01:29 | 00:01:33 | guest running over a nail i'll get it |
| 00:01:31 | 00:01:34 | taken care of and then i'll bring it |
| 00:01:33 | 00:01:36 | back in like hopefully an hour when i |
| 00:01:34 | 00:01:38 | managed to get the car to a discount |
| 00:01:36 | 00:01:41 | tire store there were two of those not a |
| 00:01:38 | 00:01:42 | balancing taxes out the door would put |
| 00:01:41 | 00:01:44 | you at the 229.00 |
| 00:01:42 | 00:01:46 | you'd think the repair cost would fall |
| 00:01:44 | 00:01:48 | on the renter because they ran over a |
| 00:01:46 | 00:01:49 | nail now you'd normally be right but the |
| 00:01:48 | 00:01:51 | repair would have been free if the tire |
| 00:01:49 | 00:01:53 | wasn't so worn down the other issue is |
| 00:01:51 | 00:01:55 | the tire fault what would the repair |
| 00:01:53 | 00:01:56 | have been if you ran over a nail and the |
| 00:01:55 | 00:01:58 | tire weren't worn down it's free and |
| 00:01:56 | 00:02:00 | since you normally replace tires and |
| 00:01:58 | 00:02:02 | pairs i had to get two brand new ones |
| 00:02:00 | 00:02:04 | march was a month of learning rather |
| 00:02:02 | 00:02:06 | than profiting because after all |
| 00:02:04 | 00:02:10 | expenses profit was just |
| 00:02:06 | 00:02:12 | 71.96 but in april of 2022 i made the |
| 00:02:10 | 00:02:14 | move from phoenix arizona to austin |
| 00:02:12 | 00:02:16 | texas putting my turtle car in a brand |
| 00:02:14 | 00:02:18 | new market the only issue was my other |
| 00:02:16 | 00:02:20 | car was still at my parents house and |
| 00:02:18 | 00:02:22 | austin's a city where you kind of need a |
| 00:02:20 | 00:02:24 | vehicle to go places so for the time |
| 00:02:22 | 00:02:26 | being the ford fiesta became my personal |
| 00:02:24 | 00:02:28 | vehicle throughout april and may my turo |
| 00:02:26 | 00:02:32 | car went on just three trips here you go |
| 00:02:28 | 00:02:33 | thank you so much for 193 in earnings |
| 00:02:32 | 00:02:35 | but i spent this down time learning |
| 00:02:33 | 00:02:38 | about turo and realized i was making two |
| 00:02:35 | 00:02:40 | crucial mistakes in my business number |
| 00:02:38 | 00:02:42 | one my price was way too low when i |
| 00:02:40 | 00:02:45 | first started renting my car at onturo i |
| 00:02:42 | 00:02:46 | was charging just 29 per day and 30 |
| 00:02:45 | 00:02:48 | bucks for a delivery to the airport but |
| 00:02:46 | 00:02:50 | after looking at comparable options on |
| 00:02:48 | 00:02:53 | turo i realized i could easily bump my |
| 00:02:50 | 00:02:55 | price by ten dollars to 39 dollars per |
| 00:02:53 | 00:02:57 | day and at a 30 delivery fee i was |
| 00:02:55 | 00:02:59 | literally losing money in arizona i |
| 00:02:57 | 00:03:01 | lived just four miles from the airport |
| 00:02:59 | 00:03:03 | and i had roommates who helped me during |
| 00:03:01 | 00:03:05 | pickup and drop off so i didn't need to |
| 00:03:03 | 00:03:06 | pay for ubers but here in austin i'm |
| 00:03:05 | 00:03:09 | located about 15 minutes from the |
| 00:03:06 | 00:03:11 | airport and an uber for both pickup and |
| 00:03:09 | 00:03:13 | drop-off adds up to 50 and when you also |
| 00:03:11 | 00:03:15 | account for the hour of my time it takes |
| 00:03:13 | 00:03:17 | to do a delivery i raise my price to a |
| 00:03:15 | 00:03:19 | hundred dollars after making this change |
| 00:03:17 | 00:03:22 | and bringing my other car down to texas |
| 00:03:19 | 00:03:26 | my turo business absolutely exploded in |
| 00:03:22 | 00:03:29 | june of 2022 earning 513 dollars and 24 |
| 00:03:26 | 00:03:31 | cents but in july of 2022 things started |
| 00:03:29 | 00:03:33 | to go downhill once again when i came |
| 00:03:31 | 00:03:34 | out this morning i notiked immediately |
| 00:03:33 | 00:03:36 | that there was a crack on the windshield |
| 00:03:34 | 00:03:38 | it's not too bad but you guys can see |
| 00:03:36 | 00:03:40 | right here this windshield will |
| 00:03:38 | 00:03:43 | definitely need to be replaced luckily i |
| 00:03:40 | 00:03:45 | got paid out 871 dollars and 35 cents |
| 00:03:43 | 00:03:46 | from turo for the repair to my surprise |
| 00:03:45 | 00:03:49 | i found a company willing to do the |
| 00:03:46 | 00:03:53 | windshield replacement for 320 leaving |
| 00:03:49 | 00:03:54 | me with a profit of 551 on the repair |
| 00:03:53 | 00:03:56 | not accounting for the week of missed |
| 00:03:54 | 00:03:58 | earnings you think that's a happy ending |
| 00:03:56 | 00:04:00 | right there but literally on the ford |
| 00:03:58 | 00:04:02 | fiesta's first trip back we got another |
| 00:04:00 | 00:04:05 | problem as you guys can see the last |
| 00:04:02 | 00:04:07 | guest drove the car 727 miles in two |
| 00:04:05 | 00:04:10 | days and now when i drive the car it |
| 00:04:07 | 00:04:10 | sounds super weird |
| 00:04:10 | 00:04:14 | tomorrow i'm gonna take it to the shop |
| 00:04:12 | 00:04:15 | for an oil change and also to see what's |
| 00:04:14 | 00:04:18 | up with it hopefully this isn't too |
| 00:04:15 | 00:04:19 | expensive hi i'm here to drop recaro |
| 00:04:18 | 00:04:22 | check this out it looks like we're doing |
| 00:04:19 | 00:04:24 | a diagnostik yeah i have a video too of |
| 00:04:22 | 00:04:26 | how the car sounds in case that helps |
| 00:04:24 | 00:04:28 | and by that evening i heard what was |
| 00:04:26 | 00:04:30 | wrong with the car so i just received |
| 00:04:28 | 00:04:32 | word on the turo repairs and let's just |
| 00:04:30 | 00:04:34 | say things aren't looking good first |
| 00:04:32 | 00:04:36 | things first between the diagnostik oil |
| 00:04:34 | 00:04:39 | change and a problem i had with the |
| 00:04:36 | 00:04:41 | drain plug i just deleted 224 dollars |
| 00:04:39 | 00:04:43 | and 81 cents for my bank account finally |
| 00:04:41 | 00:04:45 | the mechanic concluded that the grinding |
| 00:04:43 | 00:04:47 | sound was due to me needing new brake |
| 00:04:45 | 00:04:48 | pads rotors and a brake pressure bleed |
| 00:04:47 | 00:04:52 | which isn't cheap the total cost for |
| 00:04:48 | 00:04:53 | this repair came out to 827 dollars but |
| 00:04:52 | 00:04:55 | things got even worse although the |
| 00:04:53 | 00:04:57 | mechanic told me i don't need to make |
| 00:04:55 | 00:04:58 | this fixed right away my front struts |
| 00:04:57 | 00:05:01 | are beginning to leak fluid this is |
| 00:04:58 | 00:05:03 | where i realize the second major mistake |
| 00:05:01 | 00:05:06 | i'm making in my business not buying a |
| 00:05:03 | 00:05:09 | reliable car so far with turo i have 1 |
| 00:05:06 | 00:05:12 | 595 in trip earnings along with a little |
| 00:05:09 | 00:05:14 | over 550 bucks in damage claim profit |
| 00:05:12 | 00:05:16 | and between all the expenses i've had |
| 00:05:14 | 00:05:19 | we're only up about 290 dollars in 90 |
| 00:05:16 | 00:05:21 | days at this rate it's gonna take me two |
| 00:05:19 | 00:05:23 | years to recoup my initial investment of |
| 00:05:21 | 00:05:25 | seven thousand dollars i consider giving |
| 00:05:23 | 00:05:27 | up on my dream of running a turo empire |
| 00:05:25 | 00:05:29 | and working at like mcdonald's or |
| 00:05:27 | 00:05:31 | something but then i got a wave of good |
| 00:05:29 | 00:05:33 | luck i just got my biggest turtle trip |
| 00:05:31 | 00:05:35 | by far someone literally just booked my |
| 00:05:33 | 00:05:38 | car out for an entire month and now the |
| 00:05:35 | 00:05:40 | fiesta has 1307 |
| 00:05:38 | 00:05:41 | in upcoming earnings and to make things |
| 00:05:40 | 00:05:43 | even better i think i solved the |
| 00:05:41 | 00:05:44 | maintenance problem we're having with |
| 00:05:43 | 00:05:46 | the ford fiesta i just found this |
| 00:05:44 | 00:05:47 | website |
| 00:05:46 | 00:05:49 | ignitiondealerservices.com and they |
| 00:05:47 | 00:05:51 | pretty much offer service contracts for |
| 00:05:49 | 00:05:53 | your vehicle so instead of paying out of |
| 00:05:51 | 00:05:55 | pocket you pay a fixed monthly fee and |
| 00:05:53 | 00:05:56 | now instead of having to pay out of |
| 00:05:55 | 00:06:00 | pocket when a repair comes up on the |
| 00:05:56 | 00:06:01 | ford fiesta i pay 66 every single month |
| 00:06:00 | 00:06:03 | and that's all covered this service |
| 00:06:01 | 00:06:05 | contract obviously doesn't cover typical |
| 00:06:03 | 00:06:07 | maintenance for your car like brakes or |
| 00:06:05 | 00:06:09 | oil changes but it does cover you in |
| 00:06:07 | 00:06:10 | case anything major happens so click the |
| 00:06:09 | 00:06:12 | link down below if you guys want to get |
| 00:06:10 | 00:06:14 | a service contract for your vehicle and |
| 00:06:12 | 00:06:16 | if you do end up using my link it does |
| 00:06:14 | 00:06:18 | help support the channel so thank you i |
| 00:06:16 | 00:06:20 | think buying the service contract was a |
| 00:06:18 | 00:06:22 | very good move because now my profit |
| 00:06:20 | 00:06:24 | should be consistent every month instead |
| 00:06:22 | 00:06:27 | of making only 72 dollars the first |
| 00:06:24 | 00:06:29 | month over 500 dollars in june and then |
| 00:06:27 | 00:06:31 | back down to negative 150 in july now |
| 00:06:29 | 00:06:33 | comes the question am i going to buy |
| 00:06:31 | 00:06:35 | another car for turo well ladies and |
| 00:06:33 | 00:06:36 | gentlemen let's just say i found |
| 00:06:35 | 00:06:38 | something and tomorrow morning i'm going |
| 00:06:36 | 00:06:42 | to be flying out to denver colorado with |
| 00:06:38 | 00:06:46 | 11 400 in cash i reserved a purchase on |
| 00:06:42 | 00:06:48 | this honda crv it's a 2013 with 120 000 |
| 00:06:46 | 00:06:50 | miles on it it's a known reliable brand |
| 00:06:48 | 00:06:51 | so hopefully i have some better luck |
| 00:06:50 | 00:06:53 | renting this car out and while i'm in |
| 00:06:51 | 00:06:55 | denver we're going to get an inside look |
| 00:06:53 | 00:06:57 | at one of the fastest growing turtle |
| 00:06:55 | 00:07:01 | fleets in the us to see what it takes to |
| 00:06:57 | 00:07:01 | run this business successfully |
| 00:07:02 | 00:07:04 | you |
