10 TURO MISTAKES

[@drewfoster1493]

I started 6 months ago with 5 cars. Other than having a porsch macan engine die with no warranty it has been a fun business. Ive got 136 reviews and all are 5 stars. My macan will be finished next week. Thanks for the advice.

[@LuckyLopez777]

$$$$$

[@mstevenchapman]

Great video. Splash of cold water on warm and cozy dreams. Don't make all the money now... just make money.

[@LuckyLopez777]

That's the plan!

[@LuisVelazquez-ib7fc]

Thanks for your advice. Just started on turo last week this video is going to be very helpful.

[@LuckyLopez777]

😁👍🙌

[@bobsides59]

Another great video Lucky id like to see a video on the Trucking / Box truck rental. V/R, Iron

[@LuckyLopez777]

Sorry the box trucks I save for the classes

[@Norseyjr]

As always right on point video. If people follow these simple tips you will do well in this business.

[@LuckyLopez777]

Thanks 😁🙌

[@SonicBoomC98]

I had a great host I was renting most of my Turos from until one broke down on me out of time. Neither he nor Turo was much help. I ended up having to rent a crazy expensive Turo for the rest of my time and had to fight with Turo to get reimbursed for the difference. The host wanted to give me a refund or a credit and an exchange, but I couldn't exactly get back to him to do the exchange. I'm thinking about getting into Turo myself. These are some great tips

[@mobokey]

Thanks for sharing!

[@funfacts-2u4u]

Live and Die by Reviews. Great advice Lucky. Thanks

[@Higgs137]

Good tips man! Very helpful

[@LuckyLopez777]

Thanks 😁👍

[@tjmac1986]

Asking a customer to cancel and then sending them a Zelle payment is a huge ToS violation(as outlined in Mistake #10). Otherwise, great vid!

[@LuckyLopez777]

Better then a bad review 😁

[@Couple_a_Cooks]

Great video as always Lucky!

[@LuckyLopez777]

Thanks 😁

[@slim812001]

Thinking about starting Turo with my rolls Royce ghost and my i8 , I bought them both cash and I’ve had fun but now I’m thinking about making money from it , I’m in Southern California btw

[@luxuriouslady3034]

Thank you I just found you. I greatly appreciate 🙏you. 🙏

[@LuckyLopez777]

You are so welcome

[@Torontomuslmcommunty]

I love this guy

[@allaindeejoseph8199]

Hey my man what camera do you use to record that quality is top notch!

[@hunterrodriguez6802]

Great video and super clear tips for success

[@LuckyLopez777]

Thanks I appreciate it

[@Beefsnorkel1337]

thanks for the vid!

[@carlosortega8643]

Great Video ! My only question would be taxes. Do you set aside an extra $100 or $200 from your monthly cashlow specifically for taxes ?

[@LuckyLopez777]

I do there a formal we use that covers. Cost insurance. Overhead maintenance depreciation and tax

[@scottgardner5918]

What about renting out a manual transmission car? Is this a bad idea? I know that less than 1% of cars are manual nowadays so I wonder if this could be popular in the future as manuals become more and more rare.

[@Forthstar]

Im thinking this too. Want a new manual muscle car bad but don't know if I can trust these Turo mf driving it....

[@szceoltdtay]

Unless you feel like letting someone learn on your 5 speed, I wouldn’t. I remember test driving cars at little used dealers and pretending I knew what I was doing. Live and learn. Then get bent

[@deniseg4741]

when is required a rental license? I'm just starting and I've listed 4 cars. I don't have more than that.

[@LuckyLopez777]

Be 18. and have 3-5 cars. and a clean drivers license

[@deniseg4741]

@Automotive Life I means when it is recommended to get a rental license? Thanks for your time :)

[@slim812001]

Thinking about starting Turo with my rolls Royce ghost and my i8 , I bought them both cash and I’ve had fun but now I’m thinking about making money from it

[@LuckyLopez777]

Try it out see if you like it also try hyercar

[@slim812001]

@@LuckyLopez777 wow I never heard of them , I’m downloading the app now

[@Mrfitness24726]

my 1st trip with Turo was in a dirty Porsche inside and out. I did not feel good about the for the entire 4 day vacation. To things worst it was in beautiful Las Vegas.

[@LuckyLopez777]

Sad happens alot

[@moedallas3815]

Hi, Great Content Thank you. What about renting work trucks for contractor projects or homeowner use? I have a Ford 150 with an 8 Ft bed. lots of folks rent the Home depot trucks nearby. Live in the Dallas Fort Worth area. Is there a market for these trucks?

[@LuckyLopez777]

Those are my favorite commercial vehicles are the best rentals especially if you get a long-term contract with construction companies you’re probably gonna have to get your rental car license if not try to do hire car

[@frederickevenden3674]

@@LuckyLopez777 l)

[@mahbubmo]

Does turo allow prior salvage cars on their platform.

[@LuckyLopez777]

No. I’ve seen people get away with it but if you get audited you will get kicked off the platform

[@mahbubmo]

@@LuckyLopez777 thanks fir getting back.

[@kharimott8227]

Is it a good idea to lease or purchase?

[@jykirachanelle2599]

Thanks for sharing 💎💎

[@LuckyLopez777]

Thanks for watching 😁👍

[@xkiddshadowx881]

I know your probably busy but I can’t figure out how to set up an consultation on your website I have a few major questions that can help my dealership out a lot. Thanks

[@LuckyLopez777]

Emails us at [e-mail] so set up a consulting call

[@ginalowe9103]

What is a rental license?

[@Mrfitness24726]

Can you explain how the insurance through Liberty Mutual works? (Price per vichle and deductible)

[@LuckyLopez777]

It depends on the policy I have to see it because there’s different deductibles per incident also it doesn’t cover your vehicle if your renter doesn’t have insurance either rental car insurance is extremely complicated

[@Mrfitness24726]

@@LuckyLopez777 So basically in the event of an accident my insurance carrier pays for the damages and Turo pays for loss of time not rented?

[@ВадикВадик-х8ь]

Hi. for example if i want to put a few cars on turo in nevada, do you recommend to open brand new llc and register it on the company(non rental llc company) or for private person? I do have dealer license, but wasnt ready to make rental license yes. Just want to check how it go

[@LuckyLopez777]

When you’re first starting I recommend not opening an LLC trade on tour or hire car after 3 to 6 months if you feel like it’s working out then I would get a LLC

[@ВадикВадик-х8ь]

@@LuckyLopez777 so you recommend just put on personal name? is it safe? you have limit 3 cars to sell in nevada thru personal, i want to avoid it+ if something happens investigators pull up to me directly..llc just 250 $ but maybe its like a shield at least to protect identity ?

[@Mrfitness24726]

You mentioned rental license, does Turo provide the license or do I need to obtain my own?

[@LuckyLopez777]

you have to get it on your own

[@Mrfitness24726]

I guess I should've ask, is a rental license required to be Turo host?

[@LuckyLopez777]

@@Mrfitness24726 no it’s not

[@Mrfitness24726]

@@LuckyLopez777 Thank you!

[@alvincurry1529]

I'm in Atlanta I'm a small dealer I keep hearing it takes 250,000 to start doing bhph y does it take some much? Does that included floor plan money?

[@LuckyLopez777]

You can’t use lines of credit when doing BHPH

[@LuckyLopez777]

Could take more if you sell a lot of cars

[@mertefe2287]

Any host in Chicago area!! ✌️🏻

[@guyana426]

I have a question so I have a 2019 Camaro 2ss which is modified pushing like 500whp’ does turo accept modified vehicles for rent ?

[@LuckyLopez777]

In my opinion no. If it’s cosmetic. It helps. But if you put 500hp. People are going to want to do burnouts in you car

[@daquanmcdonald7104]

Someone gone fuck that car up bro 🤧

[@drewfoster1493]

Ive got a 450 hp F150 and would never put it on turo. People dont know how to handle modified cars and would reck it.

[@user-uj4zy5sj8x]

I see host and guest with dad experiences on TURO. Owners with cars badly damaged by customers who mistreat them and TURO sending unjustified invoices to customers who have taken care of the cars. I consider that TURO is not doing a good job to guarantee everyone that they have a good experience. This makes me think that the commitment of these companies, owners and clients, is very little and that the benefits obtained from one and the other are very great.

[@charlesMoore-zk4qe]

Awesome information thanks much, but all the information out the window, if the cursing, is offensive, u have all faiths and people are listening to you, it's a turnoff, hopefully u will take this wisdom to heart thanks..

[@t.d.r.autosport263]

Hey Lucky, I sent you a reply email regarding the 1hr call for the rental car business. let me know when

[@LuckyLopez777]

I’ll check now 👍

[@leyotheturtle313]

With Turo you are basically just get paid the depreciation of you car up front instead of over the years, unless you find a car at the bottom of it depreciation with low mileage it’s probably not worth it

[@Juniorflip01]

I just started turo a week ago with one car. How long should I wait til I add another? And how would I go about getting approved for another car?

[@LuckyLopez777]

Depends on your beget and plan. 3-6 monthbs

[@dprecocious1]

Down payment??!! Now why on earth would I ever want to make one of those???

[@LuckyLopez777]

To our run depreciation. Most rental car companies and people on Turo always pay the bare min. After two years of racking up a bunch of miles and beating up the car they are usually upside down $8k to $12,000 and they can’t get into a new vehicle unless they roll that into the new one so we always recommend putting a down payment as well adding $100 on top of a monthly payment.

[@dprecocious1]

@@LuckyLopez777 I don’t follow. Why would having a high mileage rental stop you from getting into a new vehicle???

[@dprecocious1]

@@LuckyLopez777 And why should the goal be to outrun depreciation in every or even most instances? A high mileage vehicle still will serve as an asset, provided someone is willing to rent it. It becomes a liability only insofar as you want to sell the vehicle or maintenance costs become prohibitively expensive. But if you aren’t interested in selling and maintenance costs are manageable, i.e., don’t outpace profits, then a high mileage vehicle can definitely work.

[@dprecocious1]

@@LuckyLopez777 The way to avoid owing more on the vehicle than it’s worth is to reinvest OPM (other people’s money) back into the vehicle) or get gap insurance (if you’re worried about coming out of pocket in the event of an accident). This way you outrun depreciation and hold on to more of your own cash. Now way I’m giving a car/finance company any more than I absolutely need to.

[@xavierrobinson200]

Guys have friends rent your car and leave reviews 😁.

[@jwhit3849]

Paying them for a positive review. Sounds like a dishonest practice.

[@LuckyLopez777]

Not really just about every company out there will give you some sort of a benefit for believing a positive review whether it’s a gift card a free upgrade a discount every major corporation does it

[@Projects727]

If you keep giving people money you renting your car for free because there's not much money in this, might as well just stop doing turo