#1 TikTok Ads Spy Tool

A Better Way to Make TikTok Ads Dropshipping & TikTok For Business

  • Find TikTok winning products & TikTok dropshipping ads.
  • Analyze TikTok advertisers
  • Get the Latest TikTok Shop Data.
Try It Free

My First 90 Days Renting Cars on Turo

Published on: December 8 2022 by Financial Wolf

My First 90 Days Renting Cars on Turo

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