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Thread: Turo - Rent a Costly Car from John Doe

  1. #1
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    Default Turo - Rent a Costly Car from John Doe

    From Car and Driver:

    The article:
    20 Tough Questions About the Auto Industry in 2017 Feature Car and Driver

    The subject website:
    https://turo.com/?utm_source=bing&ut...:exact:ac1:lp1

    Locally, they did list a Alpha 4c and a Boxster . . .

    Excerpt from the article:

    9) What's the year's best performance buy?

    How about $71 for 24 hours with a BMW M4? Beating the system like this is almost always illegal. Or against the rules. Or, minimally, not worth the trouble. But communal-car service Turo is about to give reality a solid beat-down.

    We say this because no matter how we look at it, 24 hours with an M4 for $71 is a wildly compelling proposition. And Turo provides just such an offer. If you prefer to rent a Chevy Corvette for $119 a day, or a Porsche 911 for $212, the company can facilitate that, too.

    These are just some of the deals listed on Turo's website, which proffers privately owned cars for rent at a price often set by the owner. The seven-year-old startup, originally branded RelayRides ["Rides for Rent," November 2012], offers vehicles in 2700 North American cities, including Los Angeles and San Francisco. The appeal to renters is obvious, but why would anyone with the means to own such a car bother with the risk and hassle of renting it out?

    Turo claims that the average owner ("host" in Turo speak) pockets $600 monthly from the service. Michael D. Resnick, a Los Angeles attorney, bought his Aston Martin V-8 Vantage convertible intending to rent it through Turo and, well, because he wanted an Aston. His car usually is rented for 10 days a month at $260 per day. His $1100 monthly cost of ownership makes it good math.

    "I enjoy spending a little energy on it," he says, "and I get to drive it the rest of the time." We also spoke with a host who leases the car he offers for rent, despite the fact that some lease terms prohibit such activity. It's easy to understand how his short-term commitment to the car provides him peace of mind.

    That Turo's $1 million liability coverage brings comfort to even a professional litigator such as Resnick says something. "There's risk," he says, "but it's less than loaning the car to a friend." Turo's coverage exceeds that of his personal policy. Three-tiered insurance plans for hosts allow them to pocket 65, 75, or 85 percent of the rental fee. All three options include the $1 million liability coverage for bodily injury and property damage to a third party. The premium policy even fixes small items such as scratches. No owner we spoke with had incurred any damage, though spun bearings and bent rods remain the costly elephants in the room. Renters can also decline Turo's insurance and rely solely on their personal policies.

    Steve Webb, Turo's director of com*munity and communications, says Turo's insurance claims occur at a rate of only 6.7 per 1000 rental days, so either owners aren't looking carefully at their returned cars or the popularity of the Hertz Neutral-Drop World Championship is fading. Either way, 200 bucks for an evening with a new 911 sounds worth it to us.
    Last edited by Loose Caboose; 08-29-2016 at 06:59 PM.

  2. #2
    Senior Member bellwilliam's Avatar
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    I am guessing they all are automatics (or dsg).

    And it only make sense to rent out cars with warranty. Hello, Carmax warranty !!
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    RaceTape Ninja Force McCocken's Avatar
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    Nah, found a guy renting a 6sp MX5 here in ATL. Was trying to sweeten a trip for a friend looking to see the Appalachians by flying in, renting a fun road car.
    Yer pal,
    Force

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    Master of Disaster SteveLevin's Avatar
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    What would trouble me is that you are 100% on the hook for mechanical issues.

    Steve

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    So I've been thinking on this, for specialty cars, this ALMOST makes sense. You could almost completely cover the note on a Mustang GT350 or similar with 2 weekend rentals a month, leaving you a GT350 for $0 as long as you arent emotionally attached to the car and plan to get out before the warranty ends.

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    Quote Originally Posted by anorexicpoodle View Post
    So I've been thinking on this, for specialty cars, this ALMOST makes sense. You could almost completely cover the note on a Mustang GT350 or similar with 2 weekend rentals a month, leaving you a GT350 for $0 as long as you arent emotionally attached to the car and plan to get out before the warranty ends.
    If the manufacturer finds out the car is being used as a rental, does that kill the warranty?

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    Quote Originally Posted by robburgoon View Post
    If the manufacturer finds out the car is being used as a rental, does that kill the warranty?
    My wife works for enterprise, all of their cars have warranties intact, many when they are resold off as used in 2 years. I would presume that doesnt change for Turo.

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    Old timer craZee's Avatar
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    My wife and I are headed to N. Carolina for Thanksgiving to see our g-kids and there is a GTR and an M5 for rent on Turo in that area.

    I can already hear the Smokey saying "You in a heap o trouble boy!"

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    Track Whore Pure EvoIX's Avatar
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    $99 track day $99 rental + $100 in gas. $300 for a fun time in someone else's car. Maybe even buy some rims/tires/pads for that particular car...do a swap...profit.
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