Hosting on Turo – Turo Host EXIT EXIT EXIT


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39 thoughts on “Hosting on Turo – Turo Host EXIT EXIT EXIT

  1. I disagree. It's a race towards the bottom and always will be. People are not going to pay more for cars when they can just go to any of the rental car companies and get them for less.

  2. I am curious when a video will come out : I am exiting turo, all my cars for sale!
    I started turo because of your videos, went from 1 car to 28 cars in about a year, opened an INC , got a dealer license bought cars through Manheim, spend a lot of effort to make this a business. It was good until about June of last year, when things started going very bad. At that point Getaround with their guarantee kind of saved my cash flow and allowed me to slowly exit, and was able to get rid of 95% of my cars to day. The reality is , Turo is a terrible platform both for hosts and for guests. Whenever I want to rent a car unless I am using Turo credit its never been a logical decision against an enterprise or Hertz. These new protection plans and little ongoing tweaks to enhance guest experience has been cutting in very deep into the bottom lines and its just not a business that makes sense against opportunity cost. All you are doing is creating yourself a low paying high risk day job. This is not a passive income in any way shape or form at all it is very labor intense and time consuming. You seem like a smart women, there are so many other opportunities out there that are a lot more fruitful with less risk. I think Turo is still good for what it meant to be for, which is sharing your own car and allow us to have a nicer car or maybe 2 and help with payments and TAX DEDUCTION, but thats where it should logically end.

  3. One more thing, you said on the video that there's lots of people willing to put there cars on turo I don't agree with that, most people that I know are not willing to lend there car to any one not even getting paid for it, think about all the work you have to do just to rent the car, insurance is super expensive, you have to lie to the insurance company just to get insurance, if you tell them your doing turo they cancel you, when you put a claim and they find out they will cancel your policy, you have to clean the cars, now you have to sanitize the car as well, you always get parking tickets, you have to check the tolls on the car and you only have like 48hours to charge for the tolls I believe, you have to answer all the questions from the people renting the cars, it's a lot of work for little money. And I don't think it's safe for you too, I would not let my wife or daughter meet people like that and give them the keys for there vehicles like that. Who agrees with me ? Am I being too negative ?

  4. Just to add, Turo is giving till end of July to change your protection plan WAIT TILL THE LAST DAY! Because if you swap now it's effective immediately and you can't go back!

  5. The way I see is that Turo's is fulfilling a self-fulfilling prophecy. The reason that many hosts lean towards shooters and save their damage payouts instead of actual fixing the car is because Turo's claims process is shady as hell and have the most ridiculous requirements, and will deny you for the smallest stuff and deduct massive amounts for betterment. They have zero trust with the host community.

  6. I remember when Turo was marketed mainly to car enthusiasts and choosy renters. There are so many low priced garbage vehicles on the platform now attracting these low quality renters, As a customer who used Turo frequently in the past, I have gone back to predominantly renting from Hertz or private specialty rental companies where the quality of the vehicles and consistency of the experience more than justify the increase in price (to me). If I were to commit renting from one these large companies the increase in costs would be offset with by their loyalty programs. If Turo had a program that incentivized their high quality renters this could also contribute to correcting the market.

  7. Hi Saimah, It would be great if we could get back to the previous levels of pricing. Like you, I wouldn't mind paying a higher percentage if the prices rose accordingly. I see two major issues: The Turo search algorithm seems to favor price heavily. I've done lots of back and forth testing, and price changes immediately affect your ranking. That seems like a bad idea as a default ranking criterium. People can sort by price if they want, but a car with mediocre reviews 30 miles away shouldn't outrank a pristine 5* local car. Second, the pricing tool seems broken. I have a brand new $55k 2020 Mercedes GLC300 Coupe and Turo's suggested minimum price is $26, their current suggested daily price is $40 (Holiday weekend), and worse than both of those – the tool is capping the price at $97. There is no way to make the numbers work with that kind of pricing – and the algorithm issue also hits this car because it's priced high over their suggested price.
    It would be beneficial to all sides if Turo changed their algorithm to favor quality and proven track records over pricing (and if they fixed the many "incorrect" prices their platform has). I have called in this issue multiple times, but so far, no response.
    Thanks as always for your great videos!

  8. Would love to get your feedback on this – I had the 85%plan and what I noticed was, lot of guests also buy the minimum plan. So when I had lets say a ding on the windshield, I just tell them, the plan you bought has $3000 deductible and if I go to turo you have to pay the repair fee AND administration fee so Id rather help you and resolve it outside. So far it worked well, never paid deductible, never ran into someone who bought the premium plan AND wrecked the car. I already made enough from the 85% plan to cover the $3000 deductible in case something happens. I wondered what your thought was because this change actually lowered my max loss to $2500 🙂

  9. Hey Saimah,
    I like the way you're approaching a problem and that's probably what made me stay on the channel even though I'm no longer a Turo renter (about 500 trips, on RelayRides/Turo, between 2014-2016)
    That being said I feel you're not grasping the complexity of the current situation and it could potentially hurt your business big time (explanation below).
    I'd like to touch on several topics you talked about:
    I hate to deliver the bad news to you but this isn't going to happen, or at least not in a meaningful way.
    In 2014, my 2005 Porsche Boxster was renting out for about $125-$150 and was out for an average of 22 days/month, fast forward a couple years later the same car was only going out for $75-85 with an average of 12 days/month (same type of trends for my other cars).
    At the time, I had made so much money with that car, the margins drop didn't bother me as much but it was obvious to me that the older the platform (Turo) would become, the lower margins would become as well.
    Like anything else with low barriers of entries, prices fall if the "offer" (ref. to offer and demand model) becomes significantly important
    The isn't going to change anytime soon either.
    Because of the comment above, but also due to the fact that all of a sudden people (obviously not everyone) are getting significantly more money from the Govt than when they were working, people that would not expect to be able to rent a Corvette now got the extra money to do so. Not that this is a bad thing but I would describe as the "low-quality renters" you mentioned.
    Probably you're BIGGEST MISTAKE!
    I have dealt with Turo for years and always kept clear in my mind that THEY'RE IN THIS FOR A PROFIT!
    Ultimately it would be great (not critical though) for them to have all hosts happy but in tough times like we are in right now, saving THEIR business is their #1 priority and if some hosts find themselves in a difficult situation as a result of their action they're usually like "So be it" type.
    You built a $100k+ business of Turo and I'm PROUD of you for that but what if I told you a bad exit could potentially ruin everything you've accomplished so far.
    I'm not going to tell you what to do with your business but would challenge you to revise your exit strategy and think about the following:
    – Would you actually stay in business if the current situation is the new normal?
    – If not, how long could you actually last before having to make a decision?
    – Right now part of the "demand" is fuelled by "free money" (Thanks to the Federal Reserve) what if this stops? Are people still going to be renting cars like before?
    – Are you going to be able to sell your cars if you need to get out when dealers are liquidating inventories left and right & Hertz potentially flooding the market with used vehicles if liquidated?
    – Will you be able to keep up with maintenance once your cars start hitting the 4-5 years mark (I also happen to sold cars at the #1 Corvette Dealers on the West Coast a few years back and out of warranty those cars are really not cheap to maintain: added costs on already low margins
    Hopefully, this helps you or anyone else in the same position reading this

  10. great video. I don't understand how you make money with turo. I'm in Florida had 15 cars on turo 4 months ago, I have 3 cars now, I own a mechanic shop maintenance for me is a lot cheaper for me of course still not worth with all the problems.

  11. Time will tell if Turo’s price floor will be effective. If the price floor is above the balanced price between supply and demand of any particular vehicle, there will be fewer rentals, and therefore a surplus if those vehicles in the marketplace.

  12. I chose the 60 plan and increased 10% on my car prices. Not willing to deal with deductibles or settling outside of Turo. I forecast the majority of people going with the 70 or 75 until something happens and most likely will end up exiting.

  13. Been working my exit from turo for a few months now. My Model 3 is for sale here in Hawaii if anyone’s interested. I just want to keep one of my cars to build for the track.

  14. Saimah, I'm thinking of renting my nice car for some side cash. I'm doing quite a bit of research and I have one question I'd love you to help me with: What are some kinds of things that the Turo insurance DOES NOT cover?

  15. What are your thoughts on Hagerty’s DriveShare.com? Different audience and types of cars and given its newness, low volume but seems to already command higher prices to attract more car connoisseurs than your average car renters. This may be my exit strategy as I see 90’s NSXs that you can buy for $60k going for $300-$400 daily rates. Bonus is that Hagerty is an insurance company first, and car share company as a 3rd or 4th offering.

  16. As a host, if you choose one of the high deductible plans, never put a claim in on the Turo protection plan. Always work with the guest directly to get the damages paid for. The host should never have to pay for anything if the car is damaged during a trip.

  17. Host can increase the price and get the same earning. I don’t think it will improve quality when our earning is still same. It will cost more to renter and we will have less renters.
    The number 1 reason turo car gets into so many accident is because Turo cars are too expensive to rent (because of all this fees) and because of the high price a lot of less risky renter would prefer to rent Avis, Enterprise etc and those high risk renter who dont get approve to rent from car companies they come to Turo.
    Turo should have focused on less fees and have quality renter instead of high fees and thrash renter.

  18. I've already checked it out. I'm taking no deductibles. I'm not going to be stuck with a bill that the company or the renter should be covering. For what I'm earning, a single day rental will not cover a $250 deductible. I'm not renting any Porsche's, BMW's or Cadillacs. I'm renting out my Dodges and Chevy. I'm not a guy renting to corporate elites. I'm renting to people that need to get to appointments in the area. I'm not trying to impress. If the renter wants to impress, choose another car. I'm offering cheap transportation. What's mucking up the cheap transportation is that Turo is five and ten percenting up with each change. Pretty soon, Turo's going to cost more than a standard rental company, except Hertz.

  19. Insurance must spell out all coverages ( NAIC & CDI ) regulation. Any reasonable assumption goes in favor of the insured. Only items in the insurance policy ( printed ) count. An insurance company cannot tell you to check another source.

  20. Nice to hear your insightful viewpoints on this. I was browsing a turo facebook group and all of the negativity was getting to me. As always you are able to put your emotions aside and look at the positives 🙂

  21. Hi Saimah! Thank you very much for all of your work! I really find your videos helpful. I am also hosting on Turo in California and will be qualified for the super host in 2 weeks. The big problem I see with Turo is that the platform become greedy on the company side, my Tesla Model 3 2020 is rented for 99 USD, I pay 30 USD out of it to Turo, but a client pays Turo 140 USD for my car after all of their fees and insurances *(Turo charges both host and the client its fees and also charges insurance twice). I find it to very greedy and unfair. I am using Turo to pay may loan, but as soon as Tesla taxi service is working, I am out. What are your thoughts on the double charging by Turo?

  22. I don't agree with your opinion that turo is not the place for hosts with economy cars, aka shooters. I started turo with my Nissan Altima, one of two cars in my home, since we rarely needed two cars after my wife stopped working. Here in Oklahoma, it's not the same as LA. There is not a lot of demand for exotic or premium vehicles. My customers are business travelers, people visiting family, and people needing a car while theirs is in the shop. I think this is part of the Turo vision as well.

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