Should You Turo Your Car The Reality of Turo Today

You're probably wondering , should I try to my car ?

You've gone ahead .

You've seen what Toro is all about .

Is it actually the right thing for you to do in 2022 ?

I'm going to be answering that question for you right now .

Number one , welcome to the channel .

I hope you guys will find this useful if you haven't already , make sure you subscribe over 30,000 subscribers .

I do want to talk about the state of in the end of 2021 to the end of 2022 .

I did put my 2009 , Lexus is 250 with over 340,000 kilometers .

Now on the Churro site you can see here , this was my car .

My Lexus is 252,009 , had six trips with it .

And you know , through this experience , I've gone ahead and learned a lot about the car .

I've learned a lot about Churro the service and I have my true and honest assessment if you should be doing this for your car .

And I think it comes down to a bunch of key factors that you have to think about if you're going to be successful using Turo and if it's worth the hassle to go ahead and make money from this now , I think Toro has come at a time when the pandemic has accelerated remote work and a lot of people have their cars available to them and it's just sitting there in their driveway .

That's the same thing that happened to me with this .

Lexus is 250 to 2009 , but it was just sitting around because I really wasn't using the car for anything as I was working remotely .

So I thought , you know , what can I monetize this car instead of it just sitting there me paying for insurance ?

Can I make some money from my asset Toro was the option for that ?

So I listed it out .

I had it on there for six different guests .

The experience was great .

I went ahead and made sure that the car was properly spec put up my ad .

It was really simple to go ahead and do that .

I put my pricing .

They even have automated pricing here and I started to get customers , which was great .

They would just message me the trip would be booked .

I would make sure the car is cleaned in the morning , make sure everything is tidied up and I'm done , somebody would come , they would pick it up .

I even did contactless delivery so that , you know , they wouldn't have to deal with anything regarding COVID and it was a great experience .

Now , the thing is with and the amount of times that you're gonna experience this pain is really around the entire managing your schedule , around this activity , right ?

People randomly just booking your car , maybe it's 24 hours in advance , you can cancel , but still kind of adds that urgency or that emergency kind of feeling in your life when you're just touring one of your main vehicles .

This is my only other daily driver .

So maybe sometimes I do need it to go to the grocery store and it's not going to be there , maybe for that couple days or for that weekend or whatever it may be .

Now , that's all fine and good .

The one thing that I do want to say number one churro takes about 30% of the revenue , you know , from the customer and that means you get 30% less than what the customer is being charged for .

So that's point number one point number two is obviously you're renting out your car and these are the people that you honestly have no idea who they are .

So you have to be comfortable with that .

You also have to be comfortable with the additional wear and tear on the car .

Now , if it wasn't for this car , and you guys know , I've made lots of videos on this Lexus I S 250 my Lexus I S3 50 .

I absolutely love these cars , they are work horses .

This Lexus has bottomed out in the depreciation curve , you know , during COVID , I don't think any car is depreciating .

They're actually appreciating .

And so I thought this would be the best type of car to use for a rental platform , right ?

It's super reliable .

The engine and transmission are both solid .

It's got high kilometers already , so high kilometers is not going to impact , you know , the amount of salvage value or value of this car .

So I thought perfect reliable daily driver , solid engine solid transmission and something that isn't gonna depreciate with accelerated usage .

So I put the car up and it did make me money .

It was really good like I made , you know , up to $1000 in these five trips and that's extra pocket change .

I think that's really good for a lot of people in this position .

I think that money is welcome .

Now , the issue comes to the specific car you're using honestly , if it was any other car other than this heavily depreciated Lexus I S 2 50 I probably wouldn't be making money , right ?

The cost and depreciation of the car number one , because the amount of kilometers that are being racked up on the car .

Number two , insurance typically is going to be higher and you're going to be paying an insurance premium for that car and holding it and then it's just gonna depreciate because any newer car is going to depreciate faster , this one's at the bottom of its depreciation curve .

So really , I think if you want to be successful in Churro , especially going into 2022 you need to find a car that's gonna cost you next to nothing in terms of maintenance and depreciation , you know , all .

So Churro is making it harder in 2022 in terms of the host being able to host their car on the platform .

One thing they're introducing now , annual safety checks .

This is a new thing .

They just released this in October .

I got this email .

You're going to have to basically do a safety on the car every year and upload that validation into the system .

Now I get it that's great for the consumer and I want that for the consumer , but it's just another obstacle , another layer of cost and you know , policy that you have to work around with on top of all the other rules that they put around you as a host .

So they do make it really difficult to make money as a host .

You can still make that money , but you have to be aware of all of those other costs that aren't necessarily called out for you .

They're all hidden , right ?

Insurance cost , depreciation , cost , maintenance , and repairs , all of these things .

And then there's , you know , also the piece of , you know , your customers may damage the car , you may not be fully covered by the insurance , you may not get full reimbursement , even though the rim may cost $500 they only give you $200 .

So there's all of this that you need to think about .

And this is outside of managing this as a business because that's what this really is .

I felt like I was managing another business when I was operating this tour and this is just one car .

If you're doing multiple cars , it's gonna be even more overhead in terms of the amount of thinking that you need to put into the car .

And then that's not even talking about the cleaning , right ?

The constant cleaning .

After every single visitor to go ahead and make sure that the car looks and presents well for the next person that's coming to rent it .

So I think what you need to think about in Turo or for Toro in 2022 .

If you really want to put your car in there , make sure the car is at the bottom of its depreciation curve .

Make sure the car even as it gets used significantly more isn't going to depreciate much more from the kilometers .

Then I think as a side hobby , this is a great idea .

If you can manage and work it around it with your schedule , like I could go ahead , I can probably list this car tour it out for the entire year and make the entire value of this Lexus I S 250 back in one year , but that just requires basically all of this hover and cost .

And then you have to think about all the costs that you have to put into it to actually keep it up there , keep it reliable and keep it maintained .

How much money are you making ?

Maybe , let's say half of that .

I think that's a good estimate .

Based on my previous experience .

You have to decide if that's right for you .

If you're doing a full business , that's a different topic .

I am not talking about that .

I'm talking about for the people that have an extra car on hand and they're thinking about , should I be touring my car ?

I definitely think if you're on the fence , give it a shot .

You know , if it's your baby , you know , I'm not rowing my 2008 Audi R eight on to , I would never let that happen .

But for this car , I thought , you know what ?

Let me go ahead and try it .

See if I can pocket some cash .

I just want to experience what this is all about .

But at the end of the day , you have to remember to is out here trying to make money , right ?

So I believe , you know , 2022 what they've done in 2021 they're gonna put additional restrictions in place and they're gonna do things to make sure they're maximizing their R O Y and protecting their customer .

And I think the host will be on the short end of the stick when it comes to their policies in the future .

What was your experience using to let me know in the comment box down below .

I'd love to hear your experiences .

Mine was honestly generally , really good .

Right .

You know , one of my customers I think was smoking a lot of weed in the car and luckily that dissipated after a while they left their cigarette lighter in there .

But otherwise it was a great experience , I think for the car in the right situation , I tried it out .

We made some money .

I have delisted and you can see in my ad right here , I have taken off the car so it's no longer being offered .

But this was kind of my experience , this was what I was selling it for on the daily cost .

This was my description .

These are some of my reviews and I'm just going to be pulling it off now because in the winter I need this car .

I can't just , you know , work around my schedule if I need to go somewhere .

The only option is this car , the R eight is in the garage , so I can't really go anywhere without it .

But I'm curious to hear your thoughts .

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