Had 5 luxury cars on Turo. Saturation came in, price of rent cut in half, and value of cars upside down from purchase. Left the platform 9 months ago. Did it for 3 years.
@angelocass244 ай бұрын
Im on my way out too! Not only are my car values dropping like a rock but Turo guests are getting worse and worse! Hopefully Turo will do something to vet guests or protect hosts that are the face of their terrible business model. After 3 years hosting on the platform I am fed up! Damages, filthy guests, and poor Turo policy is driving me off the platform. Thanks for all the help and information along the way. Best!
@saimahsexperience4 ай бұрын
Hey thanks for sharing! Curious what market you’re in?
@KarelleDIY4 ай бұрын
Trying to get a smoking fee Even when you have clear pics is SOOO difficult now!
@saimahsexperience4 ай бұрын
That’s what I hear! It’s such a bummer!
@angelocass244 ай бұрын
I'm in the New York Metro. Sad because it's a busy market all year round
@saimahsexperience4 ай бұрын
@angelocass24 😭😭😭
@rickkern57854 ай бұрын
Also I recently sold a one year old Buick to a Chevy dealer that also owned a Buick dealer. They were going to Certify the car and sell it through their Buick Dealership. I got more for the Buick than I paid for it new. Buying right has always been critical.
@saimahsexperience4 ай бұрын
Yesss!
@ryansilvis4 ай бұрын
I only have one car on the platform, but I get roughly $900 a month in profit after Turo fees on a 2016 Jetta I bought for $9k last year. The market has been fine for me, but it looks like the higher value cars have a lower ROI from what I’ve seen. It’s hard to imagine a $40k car making $3,600 a month. I’m also a big believer in buying the car outright to avoid the crazy interest rates right now!
@Wire-Free4 ай бұрын
Contriued success and I hope the VW stays productive for you!🎉
@glimaboston4 ай бұрын
Your $900 is, unfortunately, not profit. That’s your earnings after Turo fees. Your profit is $900 minus costs and depreciation. Costs include insurance, car washes, repairs, maintenance, parking, Uber, interest (in case of loan). Depreciation is the hardest one because you can only estimate it. You will only know your true profit once you sell that car.
@ryansilvis4 ай бұрын
@@glimabostonyeah I guess I assumed that went without saying. I said it that way because everyone’s situation is different, so seeing what someone makes after fees gives a good baseline for their own calculation.
@andrewsnyder92623 ай бұрын
@@glimabostonwhat most people don’t take into consideration is that the depreciation offsets your tax liability. So you if you balance it right, you can skim money from this business model tax free. So long as you have your back stops in place to eat up negative equity and major accidents. I have 15 cars currently and have been at it for about 3 years. Sure I have a few cars that are upside down but I have had consistent positive cash flow even with 4 totaled cars and plenty of other incidents. It’s not as bad as everyone assumes. It does suck lately though in regards to Turo’s bias towards guests and dealing with a difficult consumer.
@andrewsnyder92623 ай бұрын
Oh and make sure you nickel and dime the h out of everyone when it comes to late fees, fuel, mileage, smoking whatever you can get . The fees are plentiful with a decent sized fleet.
@whitejodeci89263 ай бұрын
My associate found this out several years ago. Before he sold his fleet, he thought he was making money hand over fist. After putting in all the numbers after selling, it was a loss
@donnmilton2474 ай бұрын
Hey Saimah, been following your channel since 2019. Whatever you choose to do, you’ll be successful.
@saimahsexperience4 ай бұрын
Wow thanks so much for the kind words!! It’s truly appreciated 🙏🏼
@bisrat93294 ай бұрын
I might have said this in the past, but I sincerely respect/love your humility
@saimahsexperience4 ай бұрын
Thank you so much for the kind words ☺️💕💕💕
@oshitomaha4 ай бұрын
This is exactly why I watch her. Tired of all these self-aggrandizing KZfaqrs out there.
@rc-zq5ng4 ай бұрын
Unless you maneuver very carefully it’s super difficult do this on financed high end cars, your so susceptible to be economic trends, most of the cars should be bought cash if possible or modest cars with larger down payment to minimize loan payments, 3 cash for every modestly financed vehicle. I know there’s a another school of thought to buy newer car with for warranty coverage, but it’s too risky from consistent profitability standpoint. Sad to see you bailing out sort off, but thank you for your very helpful content. I have 3 cars and hope to get to 5 by end of year, no financed cars.
@LynxStarAuto4 ай бұрын
I think the writing was on the wall for a while now with the platform. Here in my market (South Florida) it actually would cost you more money to rent through Turo than the actual big chain agencies. Still a good side hustle tho. I still list a car from time to time that I'm selling. Good way for the car to make something while it's for sale.
@saimahsexperience4 ай бұрын
Thank you for sharing!
@Jaypeso794 ай бұрын
Love the channel! You’ve been such an inspiration! Been watching for years, but just getting started. Thank you for the Great content!
@saimahsexperience4 ай бұрын
Thank you so much makes me really happy to hear 🥰🥰🥰
@garyj494 ай бұрын
I manage 23 cars for someone on Turo Las Vegas. I’d rather manage cars then own them on Turo.
@brainzmusic6224 ай бұрын
Thanks for sharing your journey from the start! This has guided a lot of people 👏🏽👏🏽👏🏽👏🏽
@saimahsexperience4 ай бұрын
☺️☺️☺️ thank you!!!!
@mmaisam4 ай бұрын
I’ve been finding best way to do Turo in Houston and I think I have came out the best way to maximize in Houston but I still think to Ron needs to come out with add on feature, so Host can make more money such as, asking customer if they would like to sign up for EZ tag pay they can get unlimited easy tag for $10 a day just like rental companies do.
@saimahsexperience4 ай бұрын
what are you finding some of the best strategies to be?
@andrewsnyder92623 ай бұрын
We cater to the hood in Houston. Be real. It’s a rough a market.
@christianicho294 ай бұрын
I believe she used to host near LAX, now Turo has restrictions and added super expensive airport fees, plus mid to high end car listings will scare off most renters. Blue print of what not to do 😮
@saimahsexperience4 ай бұрын
I used to host LAX in 15’ 16’ 17’ and 2018 but after that the Orange County market really grew so I no longer had the make the trek out to LA. Also during those days turo used to have a dedicated LAX turo lot which they had to shut down due to it losing money which was huge blow for people operating in that area. These days catering to LAX clientele is way harder especially with the regulations from the city. Back then you just didn’t encounter these types of issues at all because turo was still under the radar.
@tcs2345674 ай бұрын
Saimah, one of your powerhost members here. Why didnt you just sell the business as entirety? The buyer would be buying the reviews, repeat customers, brand, and overall BUSINESS assets and projections for future revenue growth? Why'd you part it out?
@saimahsexperience4 ай бұрын
Great question and thanks for being a member! In this environment I've only come across a handful of people interested in buying the business but generally it was with the stipulation of having me run the operations. So you can consider that more of acquihire transaction which I am not interested in doing. Also I don't think I'm done hosting just yet :) I have my eye on a few cars along with a few co-hosting opportunities which I would still like to explore. 😊
@bignicnrg38564 ай бұрын
Really!?!? 😂
@rickkern57854 ай бұрын
@@saimahsexperience There will be some screaming deals available on lease returns and repo'd cars as the economy changes. Many people cannot afford their overpriced cars bought in the last couple of years.
@saimahsexperience4 ай бұрын
Check out my video on the main channel page where I walk through every year of my hosting journey and show my actual turo 1099’s 😇 also I don’t believe in having a “brand” - my content is always autobiographical in nature meaning it’s just a documentary on what I am doing in my real life 🫶🏼
@saimahsexperience4 ай бұрын
1000% I can see this already coming into play
@rajanrajbahl19324 ай бұрын
Thank you for all your knowledge, and good luck with your next adventure! My fleet is located in the Minneapolis market. Do you feel that the saturation is ubiquitous across the country or do you think certain markets are underserved compared to your market? Thanks, Raj.
@saimahsexperience4 ай бұрын
I think saturation becomes ubiquitous in almost all markets overtime. Of course there are always exceptions but it would be rare.
@rwlxq60863 ай бұрын
so what if you rent your scatpack challenger out, 20 year old fraud used his sisters account to rent and pickup car, then totals the car, gives my insurance to the cops instead of his at the scene, and flees to other state while posting pictures with alcohol infront of the car then a picture of it totaled right after!?
@KarelleDIYАй бұрын
Tell your insurance that another insurance company (which is Turo) will be paying for the damages.
@pascopirate4 ай бұрын
I hope to attend your seminar at the car share expo convention 2025 in Tampa.
@jeffreylindley8454 ай бұрын
There is going to be a debt crisis. Not only personal but public debt. It is going to get ugly really fast. I expect stagflation will become the new norm.
@drakesestatesla3 ай бұрын
Tried Turo on 2 stints, over 60 Rides on my Chevy Suburban, but I'm now done !!! The guests destroy the cars, and the insurance and customer service is inadaquate, you don't make money long term... You'll most likely lose.
@Priust189Ай бұрын
Economy cash cars only
@rickkern57854 ай бұрын
I was interested in the Turo platform. However after selling millions on Ebay and Amazon and realizing the platform eventually gets too greedy I passed.
@saimahsexperience4 ай бұрын
Unfortunately it is the way of all platforms. Platforms are the greatest business model 😂
@rickkern57854 ай бұрын
@@saimahsexperience Platforms are the greatest model for the platform, not the user. I.E. Facebook users don't get benefit from their identity being sold, Amazon vendors if their products do well Amazon will copy them and put you out of business---for example Amazon Basics are all copies of great selling items that Amazon buys to compete with their own vendors.
@PlatelunchexpressАй бұрын
The answer is yes. Turo isn’t worth it
@Dc-luxury-motors4 ай бұрын
Now we have time to get married. 😂hmu
@matthewsmith23624 ай бұрын
Turo guests are starting to become more people who got their car repoed recently and are starting to trash cars.
@saimahsexperience4 ай бұрын
Oh gosh!! Especially with the lower day rates it attracts a different audience
@itsjameshuston3 ай бұрын
I just cut my 25 car fleet down to 8 cars, Turo is a downward business model anymore. You can probably make more money working at McDonalds..legitimately. Haha
@captainmagma4693 ай бұрын
you never did private rental?
@ezra4204204 ай бұрын
Sounds like turo host biz oversaturated
@saimahsexperience4 ай бұрын
Yes however I have a strong hunch that demand will surge again sometime in the future. There’s a lot of potential for it as turo grows. Demand and supply tends to cycle a lot over time
@ezra4204204 ай бұрын
@@saimahsexperience yes similar to Uber driver situation
@PlatelunchexpressАй бұрын
It is
@CarboySX4 ай бұрын
What? You are out of Turo? Sad news
@saimahsexperience4 ай бұрын
Not just yet! Have some cars on the horizon 😎
@CarboySX4 ай бұрын
@@saimahsexperience ok, that is good, but 2024 Turo earning is really bad
@saimahsexperience4 ай бұрын
Totally hoping the summer performs better!
@helpyourfellowhuman4 ай бұрын
Take down your $400 courses. At this point you are just scamming people out of their money.
@shahbaz37094 ай бұрын
interest is haram. pay in full or don't do business if u are a muslim.
@arkadich2able4 ай бұрын
What century came from, back in the 6th? 😅
@ABRARKHANISM4 ай бұрын
lol let's be real... you're just being self-righteous here cuz she's hot...