Why I Quit Tesla Turo After 2 Months

[@GoHerping]

It's nice to hear a relatively neutral experience for once instead of just negativity lol. Really the only thing holding me back from getting a car to try it is I have no idea where to park it to get consistent renters. I live slightly farther out, plus wouldn't really want to share my address so I think I'd need to find someone that owns an office or even just a house with parking near the city and give them a cut of the money or something. But even amidst the stress, it sounds pretty fun to manage.

[@DirtyTesla]

Yep, I was very lucky at my work it's just a huge empty parking lot near an airport.

[@spaceman4782]

Oh this is why I got recommended this video! Hi Alex :)

[@JBS7551]

130 bucks factoring in the time spent, worry etc. Is paying yourself poverty wages. Not worth it at all lol yikes, not mentioning a depreciating asset....

[@ShpanMan]

🤦‍♂You do realize that he is getting his car payments covered each month on top of that... while keeping the car? So he gets the car for free and is making money on top of it?

[@JBS7551]

@@ShpanMan Car is a depreciating asset. Loses value every year. Terrible investment

[@ShpanMan]

@@JBS7551 You need to work on your math, if it covers his payments even if this wasn't a Tesla which is the best value retaining car in the world, it would still be a clean profit when he is done paying.

[@JBS7551]

@ShpanMan Hey if you want to work for poverty wages, be my guest

[@JBS7551]

@@ShpanMan more power to ya

[@CrumResearch]

I rented a Tesla Model 3 Performance this last week here in the New England area. It has FSD 11.3.4 enabled, and it has been great! Sure at ~$100/day it was more than a base Model 3 from Hertz, but the owner in the Boston area really made it perfect for us. Our first experience with Turo was awesome and my son enjoyed it, at 10yo he helped me make some videos of FSD handling challenging traffic, narrow curvy roads and roundabouts. Supercharging experience was incredible and we even made it up to Maine, through New Hampshire and Vermont.

[@Buggabones]

100 dollars a day for a m3p with fsd? Thats a crazy deal. The only fsd tesla around me is 252 a day and its not even performance. There's one performance and its 150 a day no FSD. I live in a big city too lol.

[@CrumResearch]

@@Buggabones I was wondering if I got a good deal! Maybe in the future it will be easier and more common to find Tesla vehicles for rent with FSD available and activated. FSD is clearly evolving nicely and it was of practical use on our long drives as well as fascinating from my work perspective, since I am a software engineer at Autonomous Solutions, Inc. in northern Utah.

[@oeliamoya9796]

Vermont is beautiful. Did you visit the Quiche gorge? Or at least try some of our local maple syrup and fudge?

[@lecisko]

I have turo experience from the point of a Czech (European) tourist who wanted to visit Starbase and rented almost brand new TMY in Houston via turo and it was a great experience and basically cheaper than a Chevrolet spark from Hertz at IAH

[@W0Ndr3y]

Did you visit the Starbase?

[@lecisko]

@@W0Ndr3y yes I did, March 2022, it was amazing :)

[@Poxenium]

As the old Hungarian saying goes: Közös lónak túrós a háta. A shared horse is always dirty, or something like that.

[@BrandonMeyer1641]

The best way to do turo is to make it your only gig and own a fleet of vehicles in a travel destination. July 2020 was great time to buy a car. The parts shortages hadn’t hit, inflation hadn’t hit, interest rates for financing could be locked in near zero, and dealer markups weren’t a thing. Now is such a bad time to buy a car. People are paying close to 50k for cars like the rav4 hybrid.

[@stevedowler2366]

Good info, thanks much. I haven't considered Turo as I don't think it would pay off in my region of the US. Plus I don't want to put that money out there on this kind of early-days investment approach. I'm also surprised that you had no "trashing" of the car but you're right, the time frame was ideal while Teslas and maybe EVs in general were relatively new. Also your clientele demographic may have been more careful of that new EV experience. Glad you had no big negatives so cheers and keep on making these alternative videos as well as your FSD tests.

[@WinstonsGarage]

This is so awesome Chris! Thanks so much for all the info!

[@gabrielcastlebary2836]

Thanks for the informative video. You pretty much confirmed all of my fears about renting any car out on Turo. My other thought that I didn't think about too much was the time cost. I might be weird in thinking that if you spend a half hour cleaning the car, that you subtract that from the profit if you paid 'yourself at your going rate' for the time. That's why I could never get myself to do this. Thanks again for sharing.

[@heyitstim3618]

Same boat here. I have an "extra" model Y that we don't drive (early 4689 Austin build) and i price it so it basically breaks even every month. I clean it by hand, but I enjoy that, and that's about it. Been renting for 6 months now and it's rarely not rented out. Even had 2 renters take it for 4-5weeks straight! It's great and at the end of the day they're paying the car off.

[@DirtyTesla]

Yeah those long rents are awesome. I'm glad it's going well for you!!

[@slowercuber7767]

Great vid. Lots of critical info. Thank you for posting this. As you did, I'd probably worry too much about the car being damaged, grunged up or involved in a liability exploding event. When I (eventually) get a Tesla it'll be for use by myself, family and friends; I won't be justifying it on the basis of being able to rent it out, at least not at today's new car prices.

[@rmkep]

I've rented Tesla's from Hertz 3 times. 2 were Model Y's LR's for approx $75/day in California and a Model 3 SR for $67/day in Arizona. All were easy and other than having the hold feature disabled (WTF?) it was a good experience. They do a pass through billing for Supercharging so that wasn't too bad. Essentially, Hertz having Tesla's for that amount makes Tesla rental where available a much better option than Turo. As Hertz offers more states the Tesla option Turo will be relegated to a small and specific market EV wise. I can't see a viable business opportunity with Turo under any circumstances, It's a "money for nothing and your chicks for free" proposition.

[@tuabenjamin]

got 200+ tesla’s on Turo. the business opp is there. everyone wants to be an entrepreneur but few have what it takes to actually succeed. reminds me of the quote from mike tyson… “everyone has a plan until they get punched in the face.”

[@williamwoo866]

Curb Rash -----> I painted all my wheels black which cost $45.00 in black paint made for wheels. When I accidentally made a curb rash, I use a little Bondo a plastic filler and did a quick repair. Can’t tell the damage and repair took 15 mins.

[@BrianJoslyn]

It's great to know more about Turo now than what I already figured was accurate. Personally, Carvana... I heard they're not a company to do business with anyways.

[@OrganicStuff1]

How much does Turo take ?

[@whattheschmidt]

Thanks for the information Chris. I'm debating renting out the Cybertruck. I want the vehicle...but don't necessarily need two so I want to rent it out to make sense of having 2, gives me great options for my own trips, I would have a backup, I can actually haul things when I need too (2-3x a month). Hard to say if I will come out ahead or not but I will make sure I have loss of use insurance on the Cybertruck if I go this route.

[@DirtyTesla]

That's another great use imo. Get it tented out once or twice a month to make the payment or help make it. And exterior of the Cybertruck won't worry about dings and scrapes! Haha

[@jackboonyakanist]

Do you have Tesla insurance? If you do, how does it work with safety score tracking when renters are driving your car?

[@DirtyTesla]

Na I had progressive.

[@mrflinstone2553]

Fyi if your guest cancels & your car is sitting at the airport parking you will not get reimburst for parking fee $28 not happy at all

[@Stefann337]

1:40 is that a hw3 camera in your background? That’s so cool

[@DirtyTesla]

Ha yeah I replaced it myself so kept the broken one

[@okhera1]

Very Nice Bro! Get Good People!

[@johnpoldo8817]

Chris, too bad you didn’t see Ryan Shaw’s experience with 100 Turo rentals before experimenting on your own. I’m much too meticulous about my cars and would never do it. And sadly, every time I’ve priced a m3 / mY Turo rental, the total cost including Turo fee is more expensive than Hertz, Avis, or Enterprise.

[@DirtyTesla]

Well yeah this was all almost a year ago now lol. But yeah you gotta look at it as just another item to take a beating, otherwise it'll be heartbreak daily.

[@PUNISHERMARKO]

why reupload??

[@tkroni20]

Thank you, this is very informative. were those reservations mainly during the week or the weekend?

[@DirtyTesla]

All over the place, mostly not the weekend tho

[@kristophermcdaniel2893]

Can you tell me how much average mileage per customer you saw?

[@James777x]

My very first tesla experience was with Turo in 2015. Model S. It led me to researching what Tesla was about and then going all in on the stock in 2016. I now have a Model 3 with FSD, but I'm in the U.K. so it's not much good. But i think it's coming soon

[@boumarc]

consider taking profit on the stock as it could evaporate (Musk and his brother have been selling for good reasons)

[@Arpit_Soni]

I am buying a new RAV4 Hybrid under my Business name, registered in Canada, and co-signing it with my name as my business is just one year old to get approved on loan. On Invoice copy, It will be owned by my business and in my name. How should I proceed to list my car? Do I need to register under the business name or my name in Turo?

[@gargamelandrudmila8078]

You didn't have a business plan and you didn't have a financial forecast. So you didn't know if you were on track or not. This sounded like an expensive experiment really. But loosing $3k is not a big deal from a business perspective. You can write off this lose against any profits from KZbin next yr .

[@marcwalden8054]

Number one I never would’ve financed a brand new Tesla to put on Turo. I would buy one cash for 2223K like you can now and then do it.

[@Leoni-p4y]

Question do the cameras record when people pick the car up

[@DirtyTesla]

Yeah if you want

[@Luigi64real]

How do people super charge? Wouldn't it be charged to your account

[@DirtyTesla]

I mention this in the video. I had free supercharging. But if you don't, you just give them the bull after they return the car.

[@arthurkijkrittaya8882]

I was watching this yesterday but the video was just disappear right from my eye.

[@computergurujp]

Best thing I ever did was too quit Turo I had 6 cars. It was great tell the price got to be shit. Plus all the idiots trashing your car.

[@CrumResearch]

Does Tesla insurance allow and cover rental of car using Turo, and do they charge any extra premium for it? Tesla insurance is offered in our home state of Utah and I’m hoping that insurance for a Cybertruck in Utah is for a good low rate for really good drivers who rarely need to file insurance claims.

[@DirtyTesla]

I dunno we don't have Tesla insurance here

[@dobermanguy9437]

That's that's a joke 100 bucks a month and you take a chance with your car getting destroyed it ain't words that

[@rubberchicken98]

I wonder if having a fleet of Turo cars like @KLWTTS has might make this a profitable venture.

[@DirtyTesla]

Yeah, from my understanding, it's much easier to be profitable with multiple cars. Then, one car being out of commission doesn't kill your entire revenue stream haha

[@lilesmw]

It took me longer than that. Maybe a year. But Jesus Christ what these people out my tesla through.

[@DirtyTesla]

:( people really do seem to be like "welp it's not mine, send it!"

[@Buggabones]

I rented a m3p before I bought mine, I was super respectful with it. Only did a few pulls to feel the power (the owner told me to "experience" the 0-60) and treated it better than I treated my car. Last thing I want to do is ruin someone else's car. Id feel horrible.

[@russadams3008]

Your concern is why I doubt robotaxies will work for individual Tesla owners.

[@rmkep]

I "real" self driving RoboTaxi would work beautifully. It's only 15 or 20 years away ... ;-)

[@russadams3008]

@@rmkep If the car was geofenced and Tesla assumed all responsible (insurance, repair, cleaning, providing me with a loaner, etc), I would be comfortable having my car be a 🚕.

[@JBS7551]

Right and Tesla would just do it themselves too

[@Tracked350Z]

What do you think their plan is? FSD is now up to $15k on some models. You're paying for their future benefit and testing it for them.

[@chadwickwood9843]

If that 4k miles a month average would have continued, that wouldn't have turned out well financially either. Smart cutting your losses quickly

[@RedskullPro]

I was wondering how the “turo” experience was going 😀

[@DirtyTesla]

It went! lmao

[@lg1355]

Thank you for sharing your experience. I will have an extra Tesla when the Cybertruck is delivered and I’m unsure what I will do with it. It is appealing to consider making a little money with it, but I do have concerns similar to yours.

[@jrhepburn1513]

Great info but what is a Tesla carwash?

[@jamesengland7461]

he said touchless

[@jrhepburn1513]

@@jamesengland7461 Thx for the feedback

[@DirtyTesla]

Ha sorry!

[@jrhepburn1513]

@@DirtyTesla love your videos keep them coming PLEASE

[@DirtyTesla]

Ty 🙇 I am doing my best

[@Grant-du8ix]

Just wanna double check. You said that I can call my insurance and put it on the car that I’m renting from TURO? I didn’t know that.

[@DirtyTesla]

No, when you rent from turo you use turos insurance. When got have a car you put on turo, you need personal insurance on it

[@Grant-du8ix]

@@DirtyTesla gotcha, thanks!

[@AaronMcFarland]

Doesn't sound like you had the nightmare Ryan Shaw had on his Turo rentals.

[@DirtyTesla]

No, definitely not. Had I stuck with it longer, I imagine I would have encountered those problems.

[@bomb1st]

hmm copied another popular tesla guy's youtube video

[@DirtyTesla]

Ya caught me. I saw his video 1 month ago, so I went back in time and bought and sold a Turo Tesla before his video was released :P

[@SFOtoLIH]

Don’t you have to pay income taxes on your Turo earnings?

[@DirtyTesla]

Yup. But the business overall was a loss so ;)

[@jasonames]

Are you counting your KZbin money generated from buying the extra Tesla and Turo videos? Maybe it isn't a 3k loss after all

[@DirtyTesla]

This is the only turo video I've made. I also made one about the Tesla when I bought it. I imagine this video will make less than $150.

[@eljefe3993]

Brakes and tires are not forever parts… they need to be replaced over time

[@ianbladuell2694]

Turo is not a money making machine for anyone and it’s a lot of work and a headache when things do not go right

[@loonatic90]

Ryan Shaw had ~100 Turo users and multiple accidents on Turo. He got both diminished value and lost income payouts - i think you got a bit too scared and thus lost money in comparison to just continuing renting: kzbin.info/www/bejne/pmbTemuLj7-Zm9U .

[@DirtyTesla]

Yep, he and I came to same conclusions in terms of the time dedication it takes along with it just not being lucrative enough for what you have to put in

[@CO_Shaun]

Please know I don't mean any disrespect. I've watched your videos for a long time and you always seemed familiar. I just now had an epiphany! You're grown-up Cartman making a living on KZbin! LMAO

[@iowa_don]

KZbinr Ryan Shaw quit Turo after 100 rentals as well.

[@richardkule9384]

You have 340,000 miles free supercharging that expire late 2023? You have some driving to do.

[@DanFrederiksen]

Did you have it in a central place or did they have to trek out to you to pick it up?

[@rmkep]

If you watched the video, he used his place of business to park the car. Convenient for him but most businesses would not allow that free parking alternative...

[@kevinschmidt7506]

I live in Brighton lol I would have rented this 😂

[@eugeniustheodidactus8890]

Just not seeing a great upside to renting out a car on TURO while the car gets hammered by others. And I am sure that insurance is very expensive for such commercial use.

[@russell2449]

WTF??? Your CAR PAYMENT IS YOUR PROFIT (minus depreciation) because as soon as it's paid off you can SELL IT, or keep it and then increase you immediate profit. So you really didn't have a bad experience, you just DIDN'T THINK IT THROUGH before you committed to your impulsive project, smfh.

[@Tracked350Z]

Understand depreciation. The car won't always sell for $48k. He's losing money on turo, he's losing his asset in depreciation, and cutting his losses short. It's like people seriously don't have a brain and can't do simple addition and subtraction.

[@SaltyPirate71]

Didn't you already post this?

[@rosmarin2438]

Don’t watch then putz

[@PS3pwns]

definitely need a much lower car payment in order to be profitable enough to be worthwhile.

[@jamesengland7461]

Sounds like you weren't charging much or renting it much of the time

[@DirtyTesla]

It was rented next to 100% of the time I had it and my fee was the second lowest. If I charge too much, no one will take it

[@jamesengland7461]

@Dirty Tesla so, let's say a month and a half (45 days) and you made about $1,500, so you made about $33 a day or a little more? I would guess that a Tesla could rent for 2-3 times that.

[@tyronemcgillick]

Wow, you read the landscape well.

[@DirtyTesla]

Some luck or course, but being hyper focused on all this stuff, the market, and seeing Tesla up production and deliveries... I figured it was coming.

[@GroovyVideo2]

renting stuff to random people is usually not good

[@Helixur]

This was all good until he creeped in that art selling bullshit

[@ArchiWorldRuS]

Hi!

[@GregHarbin]

Just not smart to buy a car and sell it two months later… also you need to read up on Turo’s rules. You could have gotten reimbursed for any damage including curb rash, and the insurance would cover any of the nightmare scenarios you mention.

[@Omega---13]

Lex Luther

[@rosmarin2438]

Ëff Jæ Bêê!!!

[@michaeli160954]

Just forgetting the depreciation, your business model was flawed . You’ll never make money renting your M3. Too many risks, with little gain

[@DirtyTesla]

If that was true, Turo wouldn't even exist. You obviously have to price the car in a way where you will be profitable.