3 Turo Strategies I QUIT Using

  Рет қаралды 32,153

Saimah's Experience

Saimah's Experience

Күн бұрын

Пікірлер: 185
@normt430
@normt430 Жыл бұрын
How about the tax end of leasing multiple cars?
@thattannerguy856
@thattannerguy856 2 жыл бұрын
Just started Turo recently. I have about 15 completed rentals under my belt. After about 5 rentals I switched to contactless when possible! Such a time saver! I left my car at the airport this morning at their reservation time (10am) and 3 hours later the guest picked it up. I would have been losing my mind if I had to wait 3 hours for them. Easier for them, easier for me :)
@ZurielXen
@ZurielXen 2 жыл бұрын
How do you set up contactless
@onlylondiee
@onlylondiee 2 жыл бұрын
?
@thattannerguy856
@thattannerguy856 2 жыл бұрын
@@ZurielXen I use a lock box and give them the code. So I park the car at the drop off location and leave so they can pick up the car when they get there instead of waiting around for them to show up. The other day these people picked up their car 3 hours late. But I didn't care because I wasn't there, they had the code and accessed the car right away and went on with their trip
@audreyturner1972
@audreyturner1972 2 жыл бұрын
@@thattannerguy856 Where can a purchase a lock box?
@eclipsegsx96
@eclipsegsx96 2 жыл бұрын
@@audreyturner1972 amazon?
@Bmeri3
@Bmeri3 Жыл бұрын
The key to protecting your assets is buying them under market price. How can you possibly do that with a lease? Not to mention the excess mileage fees with most leases. I agree with you on the contactless approach.
@carmanjun4859
@carmanjun4859 5 ай бұрын
The OVER-mileage has always been the problem. Leased cars usually have such low mileage limits that even if you go on a road trip, you are already OVER the limit :P Now they do offer a few tiers of annual mileage you can choose from, but even the highest mileage option is NOT enough for a TURO host... Leased car mileages are meant for personal use basically... The extra mileages are charged at a fairly high rate, after you pay that, not sure how much is left for profit... So the only way to profit out of this is by buying WAY under market value; but finding these deals would be the hard part. LOL~ Totally agree with what you said.
@MACKMORRIS83
@MACKMORRIS83 2 жыл бұрын
‘It’s good to learn from your mistakes. It’s better to learn from other people’s mistakes’ - Warren Buffett Thanks so much for sharing, Saimah!
@IamJeremyCharles
@IamJeremyCharles 2 жыл бұрын
You should upload a video reading the turo terms of service. I actually think it would be a hit! 😇
@richgenix
@richgenix 2 жыл бұрын
Can you make a video on cars that have high profit margins on turo?
@ZurielXen
@ZurielXen 2 жыл бұрын
If your leasing how do u deal with going over the miles
@wnfaknd
@wnfaknd 2 жыл бұрын
You pay for over mileage. Usually you can buy miles for a lower prices several months before the lease is up. Otherwise, if you wait till the end of the lease, they will charge you 25 cents per mile for higher end cars such as Audi, bmw and Mercedes.
@jdavidviewer87
@jdavidviewer87 2 жыл бұрын
I just wanted to share my observation, you are very well spoken and knowledgeable. Amazing channel and journey
@saimahsexperience
@saimahsexperience 2 жыл бұрын
Thank you so much for the kind words it’s really appreciated ☺️
@fortlauderdaleturo7299
@fortlauderdaleturo7299 2 жыл бұрын
Great content from Saimah as always but I like to chime in regarding some key points that Saimah has left out which is very important to your bottom line. *LEASING* 2 Major factors not mentioned is when you lease a vehicle you MUST carry 100/300 liability Vs when you own you can choose the state minimum. The insurance cost when you lease is a HUGE hit on your bottom line! In some instances this will increase your 6month premium by double or sometimes more depending on how many vehicles you own and some other factors. 2. LEASING has a clause called wear and tear. It's another burden cost you don't want at the end of a lease when it's time to turn that worn out vehicle by your bad renters. Dings, dents, scratches, tires, interior wear etc etc! *UNLESS* you re lease with the same company, they usually will waive that clause. Which there's no guarantee that you will. I personally like my options better when I own the vehicle. If you make a bad deal when you purchase of course you'll be underwater *BUT* if your a good negotiator you can buy at the right price and sell when the time is right and get money back! But only if you're good! Good luck
@aim-for-greatn3z947
@aim-for-greatn3z947 2 жыл бұрын
Well I'm starting over my turo business because my partner was literally stealing and not paying investors back. I'm running my cars until the wheels fall off!! I run this as exactly like my real estate holdings always ready for the worst so all my profits have specific roles. All my cars are leased so I'm curious as to what I'll make happen when the lease are over and I'm WAY OVER the milage 🤭
@JamesD-HB
@JamesD-HB 2 жыл бұрын
@@aim-for-greatn3z947 Sounds like you are on the way to BK, especially if a driver of one if your cars kills someone and a jury awards the family $5M. I would get out of this high liability business immediately.
@aim-for-greatn3z947
@aim-for-greatn3z947 2 жыл бұрын
@@JamesD-HB not really..... I've already have had issues like these, someone from NYC rented a 3-series bmw and my vehicle was used to involve a shootout. When my car returned it had HELLA BULLET holes🤣. And someone was shot and other wounded, nothing happened it took a while because of the investigation and getting the car fixed but no issues!! Dude I have 90+ cars I have stories for days.
@JamesD-HB
@JamesD-HB 2 жыл бұрын
@@aim-for-greatn3z947 90 cars means 90x more chances you could get sued and not have enough insurance to cover a jury award.
@aim-for-greatn3z947
@aim-for-greatn3z947 2 жыл бұрын
@@JamesD-HB yeah..... dont worry, good thing is... Its NOT a problem to concern yourself with🤭 it's my problem... I'll say this though I RATHER have 90+ vehicle problems, than NOT have any at all!! If you're into business you'll understand why.. Remember life works this way, that's why some can and some can't, unfortunately not all of us can win.
@theconservativecoconut6887
@theconservativecoconut6887 2 жыл бұрын
The leasing part is key for a certain way of doing business
@PierreCalifornia
@PierreCalifornia 2 жыл бұрын
I can’t list any of my cars I just keep getting a loading up wheel lol
@bsan5459
@bsan5459 2 жыл бұрын
I'd be lost without these videos! What are some good ideas for drop off/pick up location's? Especially with no contact exchanges
@ZeraHorn
@ZeraHorn 2 жыл бұрын
What if the customers drive more than the miles on the lease allow?
@Fjord_Driver
@Fjord_Driver 10 ай бұрын
You tell them they have to drive backwards all those miles in order to return them.
@ZeraHorn
@ZeraHorn 10 ай бұрын
@@Fjord_Driver 🤣🤣🤣🤣
@nibu1911
@nibu1911 2 жыл бұрын
But wait don’t leasing only offer a certain amount of mileage you can drive a vehicle or else they got some penalties or fees?
@jinmosong7522
@jinmosong7522 2 жыл бұрын
Info for these whos asking "how about mile overage for the leased vehicle?" Most lease contract requires you to pay $0.23~0.25 per mile you went over. But if you lease the right vehicle, you can easily make $0.79~$1.14 per mile ( my 2021 examples ). get a lease with 3 year 36k miles and return them with 70k miles and pay the overage fee and it will be still worth it. Also you don't have to worry about diminished value you get hit by after an accident if you have financed or cash car. OR if your vehicle worth more than what you owe before your lease term ends, you might as well just sell it and take that positive equity.
@astridguerrero1872
@astridguerrero1872 2 жыл бұрын
How do you handle going over miles on a lease? Thank you for the great content!
@sevenraxx
@sevenraxx 2 жыл бұрын
did you ever get the answer to this ?
@svofoy_tre
@svofoy_tre 2 жыл бұрын
You pay for the miles you went over at the end of your lease, but on Turo you can charge ppl for going over their allotted miles to offset this. So if you do a 2 year lease for 18,000 miles that’s about 25 miles a day.
@guysumpthin2974
@guysumpthin2974 Жыл бұрын
Great speaker, Great brain , flawless beauty
@oshitomaha
@oshitomaha 2 жыл бұрын
What camera do you use to take pics of your cars?? Thanks
@emawussi
@emawussi Жыл бұрын
Thank you for great information. Will you mind share the welcome message and the thank you meaasage
@Realgregorypierre
@Realgregorypierre 2 жыл бұрын
Hi Samantha, I am a host in NJ I am doing contact less key exchange but I am Having difficulty finding lock box that can enable the transfer signal to the car when I put the lock box in the window. Do you have any recommendations?
@rileypasha2601
@rileypasha2601 2 жыл бұрын
How are you going to lease if you have the car titled to an LLC
@BrianTEEu
@BrianTEEu 7 ай бұрын
BMW Lease program is only in 4 markets not in my florida market.
@OutletHunters
@OutletHunters 2 жыл бұрын
I wouldn’t say you’re negative. If you’re financing the vehicle (with zero down) , the money you are paying on the payment is coming from the customers. Not your pocket. So when you sell the car, you get all of THAT money, regardless of how much it is, plus the profit and cash flow monthly on anything above the payment. I would prefer the cash flow AND the lump sum as opposed to just the cash flow. Plus no limits on miles. Just my two cents
@OutletHunters
@OutletHunters 2 жыл бұрын
Plus, I can sell the car whenever. With the current market (and will remain the same for next 2-3 years) it’s not unheard of to keep a financed car for 6 months to 1 year and actually profit on the sale. I’ve done is already with 3 of my vehicles in the past 6 months
@naskacaj2693
@naskacaj2693 2 жыл бұрын
At 35 cents a mile after you pass your mileage cap on a lease car ,I wonder how she profits?as I driver I know for a living that can cost you thousands of dollars
@saimahsexperience
@saimahsexperience 2 жыл бұрын
Incorrect because you MUST get a high mileage lease based on yearly utilization for Turo miles. For example her in SoCal 15k miles per year is average on my Turo cars so at minimum I do 15k per year mile leases.
@richardjordau
@richardjordau 2 жыл бұрын
Great video! Where are you based and have you thought about moving to get higher rates?
@richardjordau
@richardjordau 2 жыл бұрын
Btw your reasoning on leasing is amazing.. people don’t account depreciation
@TomLaBrosse
@TomLaBrosse 2 жыл бұрын
I’m wondering how you lease when u are limited on miles ?
@Somemessithoughtof
@Somemessithoughtof 2 жыл бұрын
Being that the dealers are on the west coast and I’m on the east I wonder if I could lease from them and just drive here?
@alexmancini6593
@alexmancini6593 2 жыл бұрын
Very helpful as always Saimah
@jjk1599
@jjk1599 2 жыл бұрын
What happens when/if the leased vehicle gets totalled? Will the insurance payout be enough to cover the cost of the vehicle? Thank you!
@MeliChappell
@MeliChappell 2 жыл бұрын
What about going over the miles?
@EckoMunky
@EckoMunky 2 жыл бұрын
Im currently dealing with my first incident🙃 makeup stain on backseat and curb rash 🙃
@Vladidon
@Vladidon 2 жыл бұрын
Selling the vehicle would possibly be best because the money you would spend on maintainance will possibly negate the equity deficit you have..
@okeuwechue9238
@okeuwechue9238 2 жыл бұрын
Very good info. Thank you.
@civiltheoryCEO
@civiltheoryCEO 2 жыл бұрын
Great tips. I moved to contactless only about six months ago and it has been a game changer. People love the convenience and it reduces pressure when flights are late or the weather goes crazy. I do want to look into the leasing bc I have more demand than vehicles and it's so hard to keep financing these things. Thanks!!
@brianhewitt338
@brianhewitt338 2 жыл бұрын
Thank you.
@termiterasin
@termiterasin 2 жыл бұрын
Volume could be a good strategy with something like the bolt EV, and maintenance costs are almost non existent. Make deals with local businesses or gas stations to use a spot for charging/delivery. Pay them for the spot and power.
@melvinvargas4833
@melvinvargas4833 2 жыл бұрын
great help, looking into becoming a Host Thank you Saimah love your videos
@erick_30000
@erick_30000 2 жыл бұрын
Your experience and wisdom is very enlightening and helpful maybe you can do a video on ways to avoid scams, or getting scammed.
@Youmademyday333
@Youmademyday333 Жыл бұрын
How is the BMW doing now?
@ninjaman4444
@ninjaman4444 2 жыл бұрын
Thank you for very informative video, but how do we know which company has that option like leasing to renting option?
@Zooanimalmon
@Zooanimalmon 2 жыл бұрын
That’s the answer I wanna know
@JamesD-HB
@JamesD-HB 2 жыл бұрын
Get your answers from an asset protection attorney because every thing you own can be taken from you.
@hearthealthyhustlebyjonath7414
@hearthealthyhustlebyjonath7414 2 жыл бұрын
How do you find leases that allow car share?
@gabrielmakinano7718
@gabrielmakinano7718 Жыл бұрын
Did you have to start off with establishing credit through credit cards? With your first car?
@ThatCaliFam
@ThatCaliFam 2 жыл бұрын
Do you have a template you message your client you could share that welcomes your customer when they initially rent out your car and as well as when return it?
@abovenbeyondlimits81
@abovenbeyondlimits81 2 жыл бұрын
Hi there , great content ! How do u manage the mileage on the leased vehicles as they are normally limited !
@louisbertrand7009
@louisbertrand7009 2 жыл бұрын
I do have a question Ms. Saimah? Even though there are miles built into our leases, what do we do with our vehicles that cross those miles in a year? Thank you, love your vlog..
@K-SD-DAD
@K-SD-DAD Жыл бұрын
Car dealers CHARGES leased vehicles miles overage, typically between 10K-12K miles/year. The avg cost per extra miles is around $.48(+ -) cents. So not sure if leasing would be the smart option for a Turo business. I would love to find out what a typical Turo vehicle is driven yearly? If the mile overage costs is less than $1K-$2K per year, then leasing could be attractive.
@TheGABsociety
@TheGABsociety 2 жыл бұрын
How would a lease work when typically they only give you about 15k miles a year? My MDX is constantly booked and about 28k miles were put on it in one year alone. Leases require extra payments at the end if you go over the mileage.
@fredyrosales295
@fredyrosales295 2 жыл бұрын
That is my concern as well
@Anitajohnson69
@Anitajohnson69 2 жыл бұрын
Was thinking the same thing
@janeaneacervantes6046
@janeaneacervantes6046 2 жыл бұрын
I think what she is getting at that we're going to pay either way, it just maybe cheaper when leasing??? 🤷🏿‍♀️
@badgambit1807
@badgambit1807 2 жыл бұрын
Well I know that Toyota charges $0.15 per mile over, so if you do the math, a typical 3 days rent for Turo with 600 miles limit, even if they use all 600 miles, you multiply that with $0.15 you get $90. So yeah I wouldn't worry about mileage. I'm sure other brand charges similar with lease vehicles.
@geniecats
@geniecats 2 жыл бұрын
She knows about the mileage which is why she doesn't discuss it. Don't do leases, hosts, and don't listen to her bs because leasing is not a good idea when renting it out.
@lisamccall4960
@lisamccall4960 2 жыл бұрын
How many miles are you seeing on your leased vehicles? Do you find yourself going over the lease mileage allotment?
@UnderTheBar
@UnderTheBar 2 жыл бұрын
I’m wondering the same thing 🤔
@itsmitchnewton7670
@itsmitchnewton7670 2 жыл бұрын
I'm sure it's a different mileage allotment with a company that does a ride sharing program. They expect alot of miles
@wnfaknd
@wnfaknd 2 жыл бұрын
I’ve heard, in southern Cali, it averages 15k miles per year.
@JamesD-HB
@JamesD-HB 2 жыл бұрын
Mileage is a very expensive hit at the end of your lease. But much worse is the liability of this business. Talk to an asset protection attorney!
@StyleOverPolitics
@StyleOverPolitics 2 жыл бұрын
I dont think you can turo a lease car isnt there a clause on a lease contract where a lease vehicle cant be used as a rental?
@jayl24
@jayl24 2 жыл бұрын
Hi, as a customer, can I use my own auto insurance policy when renting a car from Turo? Thx!
@KittyTink
@KittyTink 2 жыл бұрын
What is Turo go? Not seeing it when I look it up
@beachgypsyclassics
@beachgypsyclassics 2 жыл бұрын
Hi love your channel! How have you handled mechanical issues. A renter just destroyed my transmission!! Does Turo cover a transmission…. I highly doubt it
@beachgypsyclassics
@beachgypsyclassics 2 жыл бұрын
Hi thanks for the compliment! You are out of luck with Turo fixing anything mechanical! Turo is my least favorite of the platforms. To be honest we are most likely going to stop Turo! The 200$ isn’t worth the risk! One bad rental and years of profit out the window ! I do 80% of my own mechanical work so that helps. We are transitioning to only renting to production companies and pro photographers because they have their own insurance! But we are in Southern California so we can do that.. Turo is a joke .. the risks are way to great..
@ah-jq3xt
@ah-jq3xt 2 жыл бұрын
Can you show us your welcome and return letters?
@HobbyFetish
@HobbyFetish 2 жыл бұрын
Sorry I meant to press like not dislike. I always love your videos. Questions on the leasing. When you get max about 12k miles per year on the lease how do you not go over the miles on the lease? On my Turo account I have about 200 miles per day. If someone rented a lease vehicle on a 5 day rental it’s 1000 miles. How is this possible for a lease?
@elolt2962
@elolt2962 2 жыл бұрын
What insurance company do you go with for registration and al that
@Palaciosjuliocesarjr
@Palaciosjuliocesarjr 2 жыл бұрын
The financing tip was really good! Is there a certain mileage you don’t exceed when buying used cars?
@dannyhisamoto3407
@dannyhisamoto3407 2 жыл бұрын
I appreciate your transparent evaluations. I have a few questions for you or your community. Paying cash for cars vs. Finance or lease? carry only liability insurance (no personal use), focus on lower end cars, suvs and hybrids under 20K. Buying highline lemon law inventory (reasonable buy back reasons). Turning cars every year? open a separate DBA bank account? Thank you
@MarioCruz-zd3vx
@MarioCruz-zd3vx 2 жыл бұрын
With EVs having a better resale value, do you still recommend lease or finance for EVs?
@klibersalinas7718
@klibersalinas7718 2 жыл бұрын
Hi Saima, Question. How do you manage the mileage? Leases usually have a max mileage per year. If you go over it could be very pricey.
@hearthealthyhustlebyjonath7414
@hearthealthyhustlebyjonath7414 2 жыл бұрын
My question too
@grinduntilyoucant
@grinduntilyoucant 2 жыл бұрын
Not being rude but does she answer questions on her videos? I am very curious about this mileage but she doesn't seem to answer.
@klibersalinas7718
@klibersalinas7718 2 жыл бұрын
No. She just tells you to sign up (pay) for more information.
@grinduntilyoucant
@grinduntilyoucant 2 жыл бұрын
@@klibersalinas7718 thanks
@camerinj
@camerinj 2 жыл бұрын
She answers this question in another video I can't remember the title but she says she tells the dealership she's looking for a high mileage lease which saves her from going over.
@maeng97
@maeng97 2 жыл бұрын
Try shift! They offered much more than vroom for my bmw
@Rvalivesound
@Rvalivesound 2 жыл бұрын
I am a regular Turo renter who is interested in becoming a host this year. Thanks for the information. You probably shortened my path to becoming a host by a month or so and enlightened me on the rough waters to avoid when entering the market. Thanks yo!
@saimahsexperience
@saimahsexperience 2 жыл бұрын
So happy to hear! Glad that it’s helping :)
@JamesD-HB
@JamesD-HB 2 жыл бұрын
Don't without talking to an asset protection attorney!
@Rvalivesound
@Rvalivesound 2 жыл бұрын
@@JamesD-HB Wow it's like that? The more I learn about this Turo thing the more I feel like I missed the best part. Now it is becoming a target of competition and getting bogged down by events outside the control of corporate or hosts or renters... oh well!
@JamesD-HB
@JamesD-HB 2 жыл бұрын
@@Rvalivesound Ask your attorney what could happen to your home or stocks if someone dies in your car.
@Rvalivesound
@Rvalivesound 2 жыл бұрын
@@JamesD-HB TBH, knowing what we all know about what goes on out there on the roads, I always wondered/worried about this and all the rental gig things... I have a business and we use some heavy duty insurance to protect from liability for concert incidents, but we all know that when the worst happens things tend to get complicated. lol I will ask him (insurance company rep and a lawyer) to be sure before I proceed.
@rome8087
@rome8087 2 жыл бұрын
With regards to leasing, it can get tricky depending on the time of year and the vehicles that are available and that make sense to lease out. 1) A host can't just lease any vehicle, right? The market kind of dictates what vehicles are worth your time to invest in. So, if you search those vehicles and they're aren't any attractive deals for them, we'll there goes that. Also, if you're just starting out, you're going to need to hit up so many dealerships at one time as to get the vehicles in the first place. Dealerships won't lease if they see so many leases on your credit report, and those leases do show up on your credit report. 2) There may be a clear exit strategy, however Dealerships expect that when you return that lease, it's near the same condition it was in when you purchased the lease. They will try to nickel and dime you for every little thing. 👀 3) Depending on an individuals credit, payments on leases can vary. Again, the time of year, usually around Labor day, nice deals on leases are coming out, and perhaps memorial day, but there aren't to many good offers on leases throughout the year, even for someone who has excellent credit.
@drewh8264
@drewh8264 2 жыл бұрын
There needs to be more discussion on leasing. Many lease deals cost the same or more than financing if you’re going to select a high mileage program these days.
@rome8087
@rome8087 2 жыл бұрын
@@drewh8264 I just heard an advertisement in my area for $250/month lease for a 2022 Jeep Compass. Now, that's a great deal if someone qualifies for it. Also, they won't allow a the lease vehicle to be rented out on Turo, if the purchaser informs them. So, the only way to make it happen is not to inform them, but if they find out, that breaks the lease contract. Also, the vehicle needs to be brought back in excellent condition, and the miles cannot exceed 10k. 😒
@JamesD-HB
@JamesD-HB 2 жыл бұрын
@@rome8087 Not telling your lease Co about Turo is a mistake, especially when an injury attorney sues you because your car killed someone.
@karmadrone6647
@karmadrone6647 2 жыл бұрын
I was wondering the same thing, don't you get killed on mileage?
@wendellotanael5201
@wendellotanael5201 2 жыл бұрын
Only makes sense if your cars are rented just a few hundred miles short of the 12- 15 K limit. Yearly.
@saimahsexperience
@saimahsexperience 2 жыл бұрын
correct! which they do that's how I came to this number.
@daniellealexander3861
@daniellealexander3861 2 жыл бұрын
Hi Saimah, I've enjoyed several of your videos & just subscribed! Thank you for including the link to BMW's new leasing program. I am definitely looking into that, but I'll be a new Turo host this year. Do you recommend starting with a luxury vehicle as my first one (I live five minutes from LAX.)? Do you know of any other car manufacturers that are offering a similar lease structure? I did my googles but could not find much information aside from what BMW is currently offering. Advance thanks & be well.
@TheFoxalot
@TheFoxalot 2 жыл бұрын
Ty
@PrimitiveMLG
@PrimitiveMLG 2 жыл бұрын
You shouldn’t have negative equity if you are buying good resale cars as well as trading them out more frequently
@grayprojects591
@grayprojects591 2 жыл бұрын
Great info, I didn't know you could rent leased cars.
@JamesD-HB
@JamesD-HB 2 жыл бұрын
I would not without the right insurance.
@kaylove4507
@kaylove4507 2 жыл бұрын
I would love to do a lease is just I live in Ohio and there are absolutely no leases that would openly allow for car sharing and I know that there's a way people can still do it without being authorized to it's just the amount of mileage people put on these cars and I don't even do unlimited miles you know having your miles set at 200 a day still weren't a lot of driving depending on how long the trip is
@BA-wr2zm
@BA-wr2zm 2 жыл бұрын
Any have experience renting 15 passengers van in minnesota?
@ttfrhoncho6716
@ttfrhoncho6716 2 жыл бұрын
I have a BMW Z4, which is underwater, and on a no-remedy recall. I'm stuck. Luckily as all my other cars are making great money, still, I'm losing $500/month. There are days that my purchasing vehicles with not so great loans looks like a bad idea. Of the three, I've been able to refinance two, and, as luck would have it. The one I couldn't refinance (too old), is the one on recall. sigh... I could eat the couple grand, but I also like the car. My daughter may get a much nicer car than I intended...
@itsmitchnewton7670
@itsmitchnewton7670 2 жыл бұрын
Once the loan is paid off by the renters why wouldn't you just sell the financed car? That way you won't have any negative equity but pure profit.
@timekabolden5309
@timekabolden5309 2 жыл бұрын
Great idea! 💡💯😎
@tysofly3579
@tysofly3579 2 жыл бұрын
Good tips, thanks! Met up with my 1st renter a couple days ago, she said this was the 1st time a host has met her in person, lol. I recently bought my car after the lease ended because the dealership predicted it would be worth less money than it actually is currently worth. So I had equity in the car & was about 16k UNDER my allotted lease mileage at the end of my lease. Purchased an extended warranty too! Hoping it does well on the platform. It's a 2019 Nissan Altima in the metro Detroit, MI area 🤞🏾
@kinggeorge305
@kinggeorge305 2 жыл бұрын
You think this year is better to lease than finance? That's my current dilemma 😫
@tysofly3579
@tysofly3579 2 жыл бұрын
@@kinggeorge305 There are a lot of variables to consider w/ both options. But if I was trying to decide between the two right now, I'd finance if using the car on Turo. If the car doesn't do well, you can sell it without taking a big loss or possibly no loss at all. If you lease & the car doesn't do well on the platform, you're stuck paying for it til the lease ends.
@alphastack6627
@alphastack6627 2 жыл бұрын
Isn't renting a car you leased against the terms of agreement 🤔
@richgenix
@richgenix 2 жыл бұрын
I disagree with you! When u Lease, u must keep ur car for 3 years but when u finance you can actually buy the car for 1-2 years or however long u want and can sell the vehicle whenever u want
@svofoy_tre
@svofoy_tre 2 жыл бұрын
Interesting. But what happens if you finance and like all cars it depreciates? Now you have to sell the vehicle, but it’s not going to be worth as much as it was when you purchased it, and financing adds interest. Meaning (hypothetically) a $60k car could be $67k with interest and now you are selling it after it’s depreciated for a few years.
@PrimitiveMLG
@PrimitiveMLG 2 жыл бұрын
You can buy your lease whenever. You don’t have to keep it. It’s residual plus unpaid payments.
@PrimitiveMLG
@PrimitiveMLG 2 жыл бұрын
Renting out your lease is most likely a breach of the sales contract
@MrSICK661
@MrSICK661 2 жыл бұрын
What she didn’t tell you about leasing is the mile limit and how you’re gonna have to pay a lot at the end of the lease. Maybe she’ll make another video once this happens to her
@cherios1234
@cherios1234 Жыл бұрын
Do you run your rental business as a C corp or an LLC?
@saimahsexperience
@saimahsexperience Жыл бұрын
S Corp :)
@dennisb5346
@dennisb5346 2 жыл бұрын
My hands are tired watching you hold up that coffee cup….put it down😀
@kashfamily5050
@kashfamily5050 2 жыл бұрын
You stay in Arizona?
@ReallyAMazinONE
@ReallyAMazinONE 2 жыл бұрын
I hope that more places start to offer the leasing option, I haven't seen any in GA... Also contactless deliveries are a game changer for your time!
@DopeHangoutsShow
@DopeHangoutsShow 2 жыл бұрын
8:31 you forgot to edit this cut.
@yescivic
@yescivic 2 жыл бұрын
Application fee is $750+ upfront, turn in $400+, money factor = 3%+.
@johnnyrebel3340
@johnnyrebel3340 10 ай бұрын
(My best advice to anyone). Purchase outright. Look for longevity of your vehicles ( Big Miles) above 300k. With smart consistent maintenance. Essentially your purchasing the drive train. So make sure it's substantial ( tried and true). There are 3 Makes that I know of. 1 is luxury and absolutely not a BMW. Also steam clear of the electric market. Vehicle batteries are failing and burning Down vehicles and several of the more known are dealing with lawsuits.
@kevinhagen2999
@kevinhagen2999 2 жыл бұрын
Or...you could just finance your car for a shorter term to stay out of negative equity and have the option of getting out whenever you want.
@shawnbanks82
@shawnbanks82 2 жыл бұрын
I agree that leases will help keep a newer fleet and I like the tax benefits , but leases limit how many miles you can have for term of that lease . Typically now more than 12,000 a year . Which means you can only rent your car for 1,000 miles per month , otherwise you’ll be charged for going past mileage . And once you sign a lease you can’t sell that car until the lease is over. When you finance you can sell the car whenever you want . And if you can finance why not go for the longest term , you’ll have the lowest cost of ownership in the long run . Plus when you do sell the car you financed that’ll appear as another paid off car on your credit putting you in the position to get at least 50% more than your previous loan for the next car. The way I see it leases would limit my margins on these platforms and force me to keep cars . How are you able to supply the demand if the miles are limited ?
@teeeee8554
@teeeee8554 2 жыл бұрын
I disagree with you also because at the end of the lease any miles over 12,000 per you have to pay for those additional miles🍺
@whyworkwhenicanrap6830
@whyworkwhenicanrap6830 2 жыл бұрын
U can sell a lease car
@JamesD-HB
@JamesD-HB 2 жыл бұрын
Warning, if you start a Turo business without checking with an asset protection lawyer, everything you own can be taken by an injury attorney ambulance chaser.
@audreyturner1972
@audreyturner1972 2 жыл бұрын
Explain please
@JamesD-HB
@JamesD-HB 2 жыл бұрын
@@audreyturner1972 If a driver of your car kills someone and a jury awards $5M against you, but Turo's ins policy limit is only $1M, how will you pay the rest of the money?
@JADOMmusic
@JADOMmusic 2 жыл бұрын
Of course you would lease or own the car through an LLC not personally, right?
@JamesD-HB
@JamesD-HB 2 жыл бұрын
@@JADOMmusic Most people have cars registered personally because business ins costs much more. And if you commingle funds, that can pierce the liability protection. Please, please check with a lawyer. Be careful.
@MyronGreenfield
@MyronGreenfield 10 ай бұрын
Wow, the whole contactless seem like a lot of trust in strangers. And risky. Especially if you have nicer vehicles.
@geniecats
@geniecats 2 жыл бұрын
She knows about the mileage which is why she doesn't discuss it. Don't do leases, hosts, and don't listen to her bs because leasing is not a good idea when renting it out.
@jasonborup
@jasonborup 2 жыл бұрын
THIS IS SO False. I pay off cars in 2 years and the equity is mine. Tell me I'm wrong?
@DopeHangoutsShow
@DopeHangoutsShow 2 жыл бұрын
Lmao what, you can be upside down on a lease too!
@josephlucero8420
@josephlucero8420 2 жыл бұрын
😍😍😍
@abrahamayala6377
@abrahamayala6377 2 жыл бұрын
so cute!
@LaRana08
@LaRana08 2 жыл бұрын
Omgaawd
@garyj49
@garyj49 2 жыл бұрын
$2100 to add Turo to your BMW lease
@geniecats
@geniecats 2 жыл бұрын
She doesn't answer the questions. Therefore, I give her a thumbs down.
@chorks23
@chorks23 2 жыл бұрын
You are beautiful
@englander2265
@englander2265 2 жыл бұрын
*People will be kicking themselves in few weeks if they miss the opportunity to buy and invest in Crypto as it's retracing....BE WISE*
@christhompson6160
@christhompson6160 2 жыл бұрын
He's Really amazing with an amazing skills he changed my 0.2btc to 3.1btc
@shaolink9
@shaolink9 2 жыл бұрын
I heard Gerald be scamming bro I wouldn't use him.
@LoriEmpson
@LoriEmpson Жыл бұрын
So how are you getting around the limited miles on leases
How to Buy and Sell Cars for Turo WITHOUT Taking a Loss!
21:50
Saimah's Experience
Рет қаралды 38 М.
Try this prank with your friends 😂 @karina-kola
00:18
Andrey Grechka
Рет қаралды 9 МЛН
Une nouvelle voiture pour Noël 🥹
00:28
Nicocapone
Рет қаралды 9 МЛН
Sigma Kid Mistake #funny #sigma
00:17
CRAZY GREAPA
Рет қаралды 30 МЛН
VIP ACCESS
00:47
Natan por Aí
Рет қаралды 30 МЛН
How to Start a Nonprofit with No Money
20:28
Amber Melanie Smith
Рет қаралды 117 М.
Top 10 Most Popular Cars on Turo [Power Host Reacts]
17:52
Saimah's Experience
Рет қаралды 30 М.
Retirement Used To Be A Lot Easier. What Changed?
15:09
More Perfect Union
Рет қаралды 283 М.
Why Food Prices Are Still So High In The U.S.
13:44
CNBC
Рет қаралды 486 М.
6 Things You MUST Know Before Renting Your Car on TURO
20:17
Saimah's Experience
Рет қаралды 327 М.
If I Were Starting Turo In 2022, This is What I'd Do (3 Steps)
13:04
Saimah's Experience
Рет қаралды 79 М.
Watch This Before You Buy Your First Turo Car
19:16
Saimah's Experience
Рет қаралды 28 М.
Life of a CEO: How I Work With My Executive Assistant
31:09
Healthpreneur
Рет қаралды 14 М.
The ONE Thing You MUST Know About Turo Insurance
17:12
Saimah's Experience
Рет қаралды 30 М.
Try this prank with your friends 😂 @karina-kola
00:18
Andrey Grechka
Рет қаралды 9 МЛН