I did rent Cody’s Turo Lucid but he is just a host not the actual owner of the car. He works many different cars and so he has a glorified business and probably can take a hit.
I researched Turo part couple months to learn more about them. A lot of horrible things happen to a Turo rental so it def should not be a car you are attached too. We are headed towards some type of economic downtown and if you see Cody Lucid it has taken a downfall in rentals since July. At least in AZ there isn’t a large body of people that drop 150-200$ a day in a car. But let’s say they do maybe they are making let’s say you got on avg 10 booked days a month. 2000$ a month. Thst won’t pay for your car or your insurance. These people have to be getting taken to the cleaners. You do get potentially get tax write offs.
Personally I think better play is to purchase cheaper 20-30k premium cars you could start a small fleet of 5 and charge like 50-100$ a day per car. That’s going to scale vs 1 crazy person that steal or wrecks your car.
To be clear that Lucid car was never taken off Turo and it’s still not clear damage was found on the car as when it was checked into Turo a host is to report all damage and that car you can ask the host had 0 damage reported. I like the Turo Facebook groups there you can see all types of horror stories. Especially if you rent your car to a person and it’s involved into fatal accident prepared for a large lawsuit for personal injury. Personally this isn’t worth the trouble I make much more on real estate and stocks and these businesses actually scale with a lot less headache and liability.
Air bnb kills Turo.
