Exotic Rental Car Companies are Getting Shut Down !!!

[@brentblevins8219]

I’ve only rented from Turo Once, but I’ll say I treated that persons truck like it was my own. Filled it with gas completely and washed and cleaned it completely. Gave it back to the owner exactly how he left it in my hands.

[@desivillanueva9514]

Was your insurance primary. Or Turo?

[@AKUNJIG]

I had a friend who owned a tow truck / car rental business and his biggest mistake was renting out the cars to people who had horrible driving records because I remember one weekend he lost three cars to accidents. He was better off towing to be honest.

[@MikeyG003]

towing>>>>>>

[@Shannon_Vlogs]

The information you provide- is exceptional. I especially appreciate your plan starting with budget cars. I have zero inclination to do anything car-related but always find myself listening to your entire video for your enthusiasm and industry knowledge.

[@andrewreisinger6860]

Seems like owning/starting an exotic rental company is a big pain in the ass!!! You have a great channel, Lucky!!

[@LuckyLopez777]

big money and big pain in the butt lol

[@EmVie2024]

@@LuckyLopez777 i am thinking of start on turo with just one... which one would you recomend btw mercedes 2011 and audi 2011?

[@zedzed5276]

been thinking about investing in a local boat rental company. now i'm thinking twice.

[@davedave0104]

seems like people named andrew are weird

[@macioluko9484]

It sure is. Some dickhead busts a door handle? That’ll be $8000.00

[@daisylove3041]

I’m in the broward county Florida area. I did Turo from 2017-2021. Went from renting my cars 25-28 days a month to absolutely no rentals at the end of 2021. I stayed in the $50,000 range cars and did well. However, it’s not worth it long term especially when the car has to sit and not be rented for claims etc. The market got over saturated here and I sold at the height of the market and got out unscathed.

[@2020Dreamlife]

Niceeeee. Yes in Miami it’s saturated. My friend just had to sell a car. Wasn’t renting. I told him it was the wrong car

[@TURNPIKETIM]

@@2020Dreamlife what was that car if you dont mind me asking

[@EmVie2024]

do you have cars below 10k on turo? if so are they doing good?

[@kevinbarry71]

I am an attorney, and I worked for a major automobile insurance company for a long time. We didn't usually run into this situation, we did not ensure exotics. but in other situations where there was fraud; we learned that we could retroactively cancel the policy, because there was fraud in the inception. We return your premium and tell you to have a nice day. If you want to sue, we employ hundreds of attorneys.

[@LuckyLopez777]

thanks for sharing

[@TheFrenchPug]

Ouch. People get themselves into deep sh$%!

[@warbuzzard7167]

It's because people are highly disposed to believe in "magical thinking." "OH, you should buy a Porsche; you could rent that out and make $6000/week!" I mean, what could go wrong? People always believe that nothing can go wrong when it comes to easy money - it's like they have a child's ideation of the world.

[@cuh720]

Attorneys cost more than super cars sometimes

[@soldbyToosdae]

Any way not to pay of course. I'm not surprised

[@edwardmartens9092]

About 20 years ago I ran an exotic/luxury rental place and it's tough to make money. The insurance is incredibly high and the cars are very high maintenance. The only way to make money is to charge a lot per day and that limits the market so the car may sit a lot. It's just not worth it. The only way to make money off exotics is what they do out in Vegas. The place out by the racetrack which limits you to driving it on their tracks and they have a driver with you. That way they can control it.

[@LuckyLopez777]

thanks for sharing your knowledge and experience

[@edwardmartens9092]

@@LuckyLopez777 The truth of the car business is the truth of life, you don't make money selling to rich people, you make money selling to poor people. If you buy a Porsche for example for 100k you can probably sell it for 120k. It will take you months to sell it and there's not going to be any backend. You can buy 10 Toyotas for the same money and probably get 13-14k for each, you'll move them in a month and there's financing, warranty all kinds of back end. Renting is the same way, cheap, reliable cars so there's no headache. I'd rather own one Walmart than 20 Armani stores.

[@dfweurocars]

@@edwardmartens9092 your analogy is confusing - you liken 1 porsche to 1 walmart....im confused lol

[@edwardmartens9092]

@@dfweurocars Different analogies. The Porsche was specific to the car business. The WalMart/Armani analogy was business in general.

[@jasoncaine2600]

Vegas has a few exotic rentals not just the speedway

[@kynzie14]

it is surreal that a friend and I were just discussing getting into a rental car business to supplement our income. I am fortunate that I stumbled upon your video before pulling the trigger. You have truly opened my eyes to pitfalls that I didn't know existed. I will not be moving forward with that venture. I do not need to add any more stress to my life. Thank you for this informative video!

[@chrismiller1818]

Alot people don't realize the expense of an exotic car like oil changes alone then brakes and tires I never could see the upside of renting out exotics not to mention how these people treat the car...it's not there's to me it sounds like a lose lose proposition

[@LuckyLopez777]

so true

[@TheFrenchPug]

Then you have the Raiders players renting them and destroying them on a drunken night🌙. Creating you tube videos for us.

[@finned958]

I always get collision damage waiver when renting cars. I never want to be chased down for damage that is or isn’t my fault.

[@PPCCO.]

The coverage would come from the loaner vehicle. I would suggest calling your insurance and sending in the rental agreement. It would be labeled as a temporary vehicle and be covered.- Insurance Adjuster they may drop your policy, but it’s covered lol if you have the endorsement.

[@FrankLeeNacty]

I’m in NYC, I’m always surprised to see a exotic car on the terrible NYC streets that are full of pot holes, broken glass and junk that will chip up the paint.

[@LuckyLopez777]

Wheels and windshields lol

[@lactusgalacto1174]

That is NY for you all that tax money they get an are not able to pay to fix the streets or highways.😁😁😁😁😁😁

[@andrefalksmen1264]

@@lactusgalacto1174 we're in America is infrastructure great? I've been hearing from Red Staters for years about how much better things are in their states, but when you actually go to visit they're even bigger s*** holes than the state you're trying to leave, all the problems none of the benefits.

[@alb12345672]

@@lactusgalacto1174 Mega corruption in NY. It has to be really egregious to get caught.

[@nobodyknows2919]

I'm not, in fact it makes since considering the poor would be more likely than the middle class to waste money on such things just to show off

[@SmarchitectMann]

So many of these apps have had a golden era, even Uber and Air BnB. There was a time when a lyft driver could make 500 to $1500 in just a weekend (Fri-Sun) . A year later, the payout changed. So did the number of drivers. I guess these things are TIME specific, and one must notice the trends to predict when to pull out.

[@zKsery]

Hell, even KZbin premium costs almost £16.99 GBP these days. When it came out a few years ago it was like £6. Luckily still have my student email but even the student price has gone from £5 - £6.99

[@DevinGoodwinlv]

im in vegas and i agree with what you are saying. my "cheap" cars is a fleet of bmw convertibles that bring in 40 bucks a day.

[@shoobidyboop8634]

Sounds like the real moneymaker is starting an insurance company. Hmm, I wonder if the existing companies lobby the states to stifle competition?

[@LuckyLopez777]

100%

[@TribePirate]

If it were easy somebody would be making a video about how these scammy new insurance companies can’t pay claims

[@MyWatchLLC]

I rented a Huracan from DriveLA in Cali back in June of this year. First of all the car was not theirs, they told me it was a customer car, I didn’t think anything of it. Second, the odometer was turned off! These guys were straight up committing fraud in their customers faces. I was furious, what if I caught a used exotic car and the miles were rolled back by these clowns?! When I brought it up they claimed the dash was broken and they just ordered a new one. LIES! The dash was working perfectly, literally just the miles would not roll. Also, they happened to still now how many miles I drove and wanted to charge me an overage even though I had no way of telling. Scammy business!

[@1heart7seas1moon]

If they did it right you wouldn’t be able to afford it , then you would be complaining about that

[@KaudNoir]

Your attention to detail is amazing. You put my two kids straight to 💤💤😴

[@ronj9124]

Great video, even though I never got into Turo. Maybe this explains a large number of used cars out there with accident histories?

[@chinmayparmarthi6760]

It seems like insurance is the real scam here

[@Dragon228833]

Can’t expect them to keep paying out hundreds of thousands on a consistent basis when ur paying them 500 a month

[@greatone8013]

So the states are big with the big companies they let them monopolize it they're the only ones that I could afford to have 12 to 15 exotic cars

[@xavier3241]

I was a manager at a dealer, the owner had a Subaru franchise and here in PR they don’t sell well… he gets a license for a rental company, he purchases the few Subarus we had left in the lot for use with the rental company. First day of business, first rental, a ‘18 Legacy gets totaled. To make the claim was a headache, that was the grand opening and grand closing. After a month he closed it down, it was too much of a headache.

[@axltothemaxl5368]

As someone who lives in Atlanta and works in entertainment I agree with you leaving it off the list, lots of shady production companies and young budding talent with their advance that don't gaf if they wreck your ride 😂

[@GeorgiaMade404]

1000% agree! Atlanta and Exotic car rental don’t mix. I wouldn’t rent a bicycle to the type of people that live in Atlanta now.

[@thedevilsadvocate5210]

thats's racist

[@invisibleman3640]

@@thedevilsadvocate5210 just facts ever been to Atlanta? Worst drivers in country

[@thedevilsadvocate5210]

@@invisibleman3640 I'm sure. I was just being sarcastic. It was a poor attempt at humor.

[@invisibleman3640]

@@thedevilsadvocate5210 I should have caught that I use that phrase when it's completely out of context 🤣

[@originalunoriginal4055]

I was in the confirmation section of renting a car on Turo for a day. On the payment page, an additional $65 dollars appeared to the total fee..... and I immediately deactivated my account and deleted that app!

[@sashamoore9691]

Don’t even own a car but still enjoyed this video. Glad it got recommended to me on youtube

[@sprague49]

It's a good day when Lucky posts a video

[@LuckyLopez777]

facts !!!

[@zenfuri89]

Highly unregulated PPP loans issued now the Mass Hiring of IRS just to sniff out the PPP crooks. For these Turo fleets, Real estate, etc. this is gonna be a process Fer sure.

[@onlyweknow2]

Glad that you had a good time in the PI now it’s time to get back to work let’s make some money!

[@LuckyLopez777]

$$$$$$

[@Ryousure]

When I look into doing turo. You're really dug into the research it ended up being that you made money till you had someone crash a car. The insurance companies would not cover it the renters insurance company would be in limbo fighting with turo.. some got lucky and went years with out a crash... in the end turu makes money selling insurance and taking your part

[@ejedwards988]

I underestimated the 0-60 in my mom's audi like five years ago and fish tailed badly. I would never rent an exotic, I scared myself pulling out onto the main road (50mph) from a stop sign in an audi. I would never drive a Ferrari or Lambo.

[@davidgee6110]

A coworker who was between cars rented from the local Avis at $25 per day near new Ford Escape a couple of times in Santa Barbara. Rental rates seem back to normal for many places.

[@lunam7249]

Not in cali

[@VinceTheCreatorr]

In cali its close to 50 a day without insurance

[@davidgee6110]

@@VinceTheCreatorr Honestly, coworker has gotten $30 a day and even $25 day plus tax no insurance as regular local customer while his truck is in the garage. Downtown Santa Barbara, CA nice newer Ford Escape. Was Enterprise not Avis as correction.

[@Goldcoin55]

Prices still high in Arizona. Rented Ford Edge from Hertz. The least expensive was $300 a day.

[@jack_0U812]

Your comments on insurance are spot on. You know what's pretty unknown but even more common? Uber, Lyft, Uber Eats, Door dash. My son wanted to do this and being the son of an insurance agency owner, the first thing I did was to call my insurance agent. They checked every way possible to do proper insurance for these delivery services and our insurance for the car he'd use would jump $4000 a year over what we pay now. So you might think "Oh, well, I'll just drive and not tell them". Say you get into an accident. They WILL find out that you're in the delivery business and will reduce your coverage to state minimum. For me, that is $5k total liability and nothing else. So you tap the rear bumper of a Mercedes and the people want to be dicks and go to the hospital? Well, the $1000 Mercedes fix is on you. The hospital bills for them are on you. If they hire a lawyer, they will own everything you'll ever earn or own. The insurance company will pay $5k and say "have a nice day". People say that Uber and other companies have policies on their drivers. They never pay. You'll be screwed. Houston makes money by doing youtube these days. The cost for the rental business are atrocious. If the youtube payout ever dies for him, I'd bet he'll be selling all the cars and doing remodels to turn all his rental locations into hot chicken centers.

[@ryandarrah4247]

They wouldn’t find out. This is why Harry Potter is a hero and you’re feminizing your son. Breaking rules strategically is manhood

[@goaldineyelife6291]

Wrong and wrong I’ve been in two accidents delivering and never been caught thank you

[@neilsantillan1720]

uber, lyft and doordash has insurance for that.

[@mkt3000]

I formerly worked for one of the largest car insurers in the US, who did both commercial/rental policies AND exotic policies. Shortly before I left the company, we were requested to non-renew every single policy for cars that were registered to Montana LLCs. Why? Because the insurance company considered it fraud.

[@MistaaFrosty]

who was the insurance company because i want to do this to avoid taxes

[@mkt3000]

@@MistaaFrosty I can't say since I enjoy my anonymity and a good working relationship with them from outside of the industry. But if you do it, I recommend you be quite up front with your agent about the car being "owned" by your corporation rather than you as an individual. It will save you potential heartache down the line. The insurers aren't concerned about the tax avoidance issues as much as they are about potential commercial use from a car on a personal policy. And a car owned by a corporation is a giant red flag to them, regardless if it's pretty obvious that the car serves no commercial purpose.

[@ehiracheta]

Ok I'm just a regular guy with no experience with anything. I just thought I heard you say they require you to have insurance....BUT...make sure you never use it. Because if you do...they'll shut you out. THAT IS UNFAIR to the MAX. Crazy stuff. Good way to stop small startups.

[@ehiracheta]

I live in a coastal city and always thought a convertible rental car company would be a fun deal for tourists and locals. Vert mustangs, Miatas, ect. I think i'd better let that idea go...lol.

[@LuckyLopez777]

insurance companies are rough with Dealerships and Rental companies and claims filed. they double your rates quickly. Not fair but no choice have to have insurance

[@rubensepulveda9482]

Insurance is the biggest scam if you ask me! Lol but yes, you have to have it

[@ExoticAgent]

Turo insurance is flawed for many many reasons. The HOST should never have to carry any sort of liability when they are NOT driving the car. It's a quick money grab.

[@michaelwillman5342]

Im looking to rent on Turo but nothing like some crazy exotics, i just want some fords and some minivans around $4500-7500 and start my own independent rental company eventually.

[@marshallwallace719]

My turo rental got repossessed while I was renting it lol.

[@epi2045]

As a former dealer owner, dealer insurance is so expensive. It was almost equal to rent.

[@JJ-vp3bd]

What you do now

[@epi2045]

@@JJ-vp3bd I’m in tech

[@Unlimited_Investing]

I own a super car, but I don’t rent it out. I do see lots of luxury rental companies starting up here in nyc and all of them are middlemen for cars they don’t own and the owner of the vehicle has only personal insurance. It’s a good business but too many stolen cars, and too many accidents. A lot of people driving cars they can’t afford and it’s good to see the companies finally take control of the situation and problem they’re causing and it makes sense why premiums are so high.

[@bpet2237]

Turo never insured cars valued over $80,000 since day 1. You had to self insure

[@crazycapitalmedia]

Some courses was teaching how to get 30 cars in one month by getting all of them before the first car reports to your credit. I wonder how those people are doing now. They are quiet on KZbin tho

[@alecubudulecu]

Like a lot of things. People forget you can’t just pick up a tool that requires specialized training and “have fun with it”.

[@Necropheliac]

The way you describe not using your insurance even when you’re carrying insurance really wreaks of: insurance is a legally mandated mafia.

[@34pimpdog]

Its exactly what it is

[@cgletts]

@@34pimpdog so who pays when you crash into grandma? tooth fairy?

[@MaggieBellla]

Well this is correct! I came in late. I decided to list my Alfa Stelvio Lusso on Turo about 2 weeks ago and it has not rented at all. I priced it quite low and I figure , if it's not renting at what I'm asking it's not worth the risk. I'm in Vegas too

[@LuckyLopez777]

thanks for sharing

[@silasf94]

Not worth renting a luxury car for cheap , if they ruin a tire you will pay from your picky

[@MaggieBellla]

@@silasf94 I agree. I took it off Turo and will be adding a standard everyday car.

[@pabloco7756]

As you say, today renting from a standar car rental is so cheap, there is no need for any other. Just 2 weeks ago i got a G70 for 2 days picked up on LAX and return on San Diego, just 147 usd all in

[@kaymish6178]

Just to add on the "never call your insurance for a claim" if you don't claim you can keep the wreck and those have valuable parts that can be sold to offset the cost of the collision or depending on the legality used in your own fleet. That happened to my brother the insurance tried to stiff him on his personal car; in the end he negoiated with them to keep the wreck and he made more on the parts than he got from the claim payout.

[@natecoleman7985]

Especially right now in the exotic car market. The cars are usually worth 3 fold in parts. It will just take a little patience I offload it all.

[@LivingLife128]

turo was kicking arse when the rental car companies were charging a lot. now they have come back down to semi normal prices. if the price is the same, i will rent from a rental agency.

[@ME-th9yo]

I just checked hertz in my area and for the cheapest smallest car is 192.06/day so not sure where hes getting cars for 27/day

[@franzvanjulio5523]

Welcome back, Lucky! It looked like you were likely having a good ti e on your vacation. :) Have a good one.

[@LuckyLopez777]

I did! thanks

[@Platelunchexpress]

I’m in Hawaii, the easy money days are gone, and not coming back. It’s not worth even doing anymore. Can’t wait to sell my last car.

[@Akecherfd8424]

It's likely some people will be selling their cars on auction websites to get rid of them.

[@LuckyLopez777]

I hope so

[@chrismiller1818]

And look at all the people over paying at auctions there about to get stuck too

[@user-qh6nf2ev9s]

Wow, thanks for such great tips!! I have a question, what do you think about running an exotic car props business for just video shoots, I hope I don’t sound crazy but I’ve always thought about getting a couple wrecked exotics at auction, repair just the cosmetics and park them in a warehouse for music videos rentals and what not, they wouldn’t be drivable tho, and would be towed from set to set, what would be the legal huddles of running something like that? I’m pretty sure there are already similar businesses like the cop cars I see in rap videos, but I always wondered. Sorry for rambling! Thanks for the video

[@timsteinkamp2245]

Enterprise used to do a $9.99 a day for the weekend three days. Good deal. 100 miles a day in state. Neighborhood locations only. I'd take the bus even though they used to say they would pick you up. California.

[@LynxStarAuto]

Toro is ok if you own the cars outright and successful rentals are pure profit. But if you have a note on them, the risk/reward is too on the risky side for my tastes. The Turo claims process has always been a pain too. Doesn't matter the class of vehicle. I've listed cars on there off and on since 2019. I've had two incidents in that times both times I just fixed it myself and called it a day. But I have an automotive repair business, so I saved huge on the repairs.

[@djdigital3806]

They renting the car anyway via car payments. I live in Vegas baby. Subscribed ☑️

[@thePlanetravelercom]

you need to create some shirts that say, "Broker Joker" and "Stimulus Ballers" :p

[@RealPolitik-dy4it]

What about pickup trucks and vans? I’m not an industry expert. But the way I see it, most people have passenger cars, but every now and then need to haul some furniture or something. Or they are doing a remodeling somewhere, and need a pickup or a van for the week.

[@piscinaiv7937]

Just remember Hertz files stolen car claims for rentals they mis-document so you may get a felony stop for fun in your Hertz rental.

[@brentblevins8219]

Had a chance for a hertz rental in Illinois… i outright avoided them for that reason

[@biancaodonnell]

Sixt does the same thing. Sixt also charged tolls during Hurricane Ian when there were no toll fees

[@qualityautorepairtireautosales]

🙋🏻‍♂️I own both a auto repair business & have my dealers license. Both as separate entities. My used auto sales business is set up to rent cars. I have set up a 3rd entity for my rental business. I’d love to have a conversation on does & don’ts from your experience. How I’ve built what I have is from learning from others experience 😇

[@gilbertmadrid1417]

That’s a cap on the airport rentals. The cheapest economy car at LAX airport is $50 plus tax

[@bgwatters]

Thanks for keeping it real regarding insurance.

[@CircuitTrail5]

Lol my dog always goes crazy when you play the squeeze noise when you tell us to hit the like button 😅

[@LuckyLopez777]

🐶

[@salimrandall]

Another great video. My friend is trying to convince me to get into Turo. He has great success here in NYC.

[@LuckyLopez777]

i would stay away

[@EmVie2024]

@@LuckyLopez777 what if he does one car below 10 k on turo?

[@rubensepulveda9482]

Great content like always! Can’t wait to expand off of TURO. Everyone is racing to the bottom with their pricing it’s crazy, have to make those car payments right? 😬 In the process of getting my license and insurance in California. I always tell people too, economy cars are the way to go.

[@forttexmetalsandroofing4563]

Totally agree!

[@ejedwards988]

More customers consistently

[@jeffersonblackmon]

Great content Lucky, Thanks.

[@LuckyLopez777]

My pleasure!

[@mdleweight]

Rental prices have gone back down, thank God! I pay $30 per day for a midsize in FL now. A year ago it was $70 or more.

[@pauljensen4773]

Where do I buy a fine car for 70% off?

[@BUTTA170]

Great information, i think my interest in this business has definitely changed in direction thank you!

[@c.chester1108]

This shows that getting insurance is useless because you are basically paying for the right to operate the vehicle but filing a claim just screws you over. Nice scam these insurance companies have.

[@dennispatton2356]

man, so true

[@Genebaket]

This mortgage company in Colorado Springs purchased a new jet using these loans

[@mannamedbanjo]

what about a yaris in atlanta? it's been something I've wanted to do. gas saver in atlanta. good idea. bad?

[@rarebreed4512]

Why are we asked to like the video before we've had a chance to watch it? Edit: nahhh bruuhh i watch the vid... you dropped so many gems, thank you sir 🤯 def like the vid😂

[@stefanleonardo9734]

So why bother with insurence in the first place? I don't understand.

[@KevinSmith-wr1sy]

Man I love your war stories from the trenches.

[@ragtop63]

Auto insurance is one of the biggest scams in existence. The business model dictates that the better driver you are, the more money you're wasting. They took it a step further by lobbying to make a policy mandatory if you want to register and drive a vehicle on public roads. But we happily bend over and take it, just like they want us to.

[@dennisd9554]

I've heard a lot about TURO so went on the site for the first time today just to look. Tried to do a search and got a gateway error. Not a good sign when the site for a company like this isn't working. I know stuff happens, but...

[@danielruiz3853]

were you the guy on that vice episode about exotic car rentals?

[@ChocolateMilkyYummy]

where should I rent from? currently im using Kyte, it costs about 75$ a day but theres also a one time pickup and drop-off fee that total to like 25$. I want to save some money I dont need a fancy car just a regular sedan like a Honda Civic for example. where should I rent from? in nyc

[@tayneilson]

Turo still working for me. I never did exotic

[@512bbnevada]

In the early 2000s Italy service in Vegas was owned by Oscar the founder he had a testarossa rental in there for service the electric cooling fans failed destroyed the head gaskets $20k repair, renter was cruising the strip being the big shot stuck in traffic cooked the engine I questioned even then the logic of a exotic rental business, the average person has no idea how to drive a exotic or the costs for repair renting to them is a fools game. I know Houston is your buddy but he can't be making any money its all finace and debt kicking the can till the banks take it all away. The restaurant business isnt any better. Glamour type businesses like these for big egos are never that profitable high risk for failure.

[@BarryObaminable]

If you are not a business, then your policy is worthless. You get a rate for insurance assuming you are a private citizen. It would be a higher rate to rent to a business. Good luck making the insurance company pay. Nothing stopped you from getting a commercial policy.

[@bigshane4ever930]

Most commercial policies starting cost is around $10 and up. Not millions

[@jasonzidongjiang8281]

I don’t think your initial statement about Turo is accurate . Turo never allow any car with estimated value over 125k to be on the platform until mid 2022 when they raised limit to 200k. So how ppl list exotics on Turo when pandemic starts??????

[@moremoneymoreoptions5463]

Those who know the money was before 2020. Also before it was Turo when It was known as relayrides. Very little competition then.

[@justacinnamonbun8658]

I'm still waiting for prices to fall like watching paint dry 🙄⌚.

[@MikeyG003]

they predict 2019 pricing by april 2023

[@LuckyLopez777]

Im hoping Dec 22-march 23. fingers crossed.

[@daudikisakye]

Turo was dead for me after one summer of fun back in 2020 lol...

[@VegasValleyCichlids]

Hello great videos keep it up.. Question with regards to your previous video i got my CR license where do I get the DMV number to use for access auto? Thank you im in vegas also..

[@LuckyLopez777]

Whats CR? you need a Dealers License or Rental car license to get you DMV number for Auction access

[@VegasValleyCichlids]

@@LuckyLopez777 sorry i got that backwards.. ... on my llc it show passenger car rental. NAICS: 532111 is that the same thing as Rental car license?

[@LuckyLopez777]

@@VegasValleyCichlids No its diffrent. thats your LLC. not your state and city license

[@VegasValleyCichlids]

@@LuckyLopez777 ok making more sense now to me.. thank you I did get the peer to peer shared vechicle owner licence so now i need to apply for another state license for the Rental cars..

[@Crafteddd]

I am looking into starting a rental company in Vegas later this year because I have a unique opportunity to fund cars, maybe we can get into contact and talk about it since we are in the same market. If you are interested let me know.

[@aim-for-greatn3z947]

Well.... It's better for those who ACTUALLY KNOW how to operate a business. I used to have a partner and we grew our car fleet to 117 for Turo ironically enough since he didn't want me to manage the money he fucked the business up to the point two of our investors had to file for bankruptcy because of his negligence. Now that I separated and took all the investors with me I'm operating at 200%!!! And servicing NJ and NYC even though Sep and October are slow seasons my cars are always booked 95% of the time, plus I offer service and DO MORE than most host thus my business is still booming since pre-covid. At this point I have 13 cars and all ARE high end between 80k - 120k and I have no problem with bookings. Granted I still have a day job I've done and positioned myself to provide a really good experience and service! So the sky is the limit especially since I'm planning on moving all my fleet to NYC. Once I secure my spot in the city that I'm currently working on if all goes well I'll be in NYC and I'm buying 45 minimum come January-March. At this point I'll be purchasing more economy cars and 10 more high end and THATS IT!!! No need to have 100+ vehicles I'm NOT trying to take over the world the income from 45 vehicles is enough for employ at least two people and the business to leave something for myself. No exotic cars that's just stupid in my opinion!

[@olikat8]

I remember going back & forth a few months ago on VINwiki because they were pimping exotic car financing, "Buy your dream exotic, it's a good investment..." I ruffled feathers by stating "The hell it is a good investment. Hang back & watch the repos & 'Give-backs' flood in. Then, if you are on solid footing, buy them for dimes on the dollar." Here we are not half a year later an it's coming hard & fast. Following the vehicle & toy bubble comes the real estate bubble...gonna be hilarious

[@kj9067]

You need your own channel 💪🏾

[@LuckyLopez777]

Lots of people i know are buried in a few exotic car loans and leases

[@olikat8]

@@LuckyLopez777 I have friends who own them, but most paid cash. The absolute wealthiest two friends I have..? They drive a Toyota Highlander and an older Jeep Cherokee. But their homes are awesome

[@jaqueitch]

The main blame should go to the auto buyers. They should know better than to buy an $80k car with an income of only $65k.

[@TrollingWithTheTruth]

To add to your point, turo takes 40-60% of the money on each rental. For example if one rents a car out for $440, Turo takes $240, another example car rents for $1,000 for a week, turo takes $500-600. So with these higher costs some are renting out their cars privately to keep more money, it's very risky esp with luxury and exotic cars.

[@dennispatton2356]

turo isn't that hi, maybe 30 %

[@TrollingWithTheTruth]

@@dennispatton2356 that depends on where you do it, I'm in NY with higher insurance cost

[@justinhaase8825]

Not a car person but a plane person…it’s easy to fly a 172 but a fast flying twin prop is not the same game at all…let alone a jet. There’s a reason the luxury market is the luxury market and when that transfers to even the upper middle class without some super good reason it’s a big issue.

[@adamp9348]

PJ’s are the last forbidden fruit - the day brokers start offering installment plans with Klarna is the day my 135 buddies will be putting their apps in at the majors 😂

[@AnTmOREACTS]

You're saying if I rent out my personally owned $150k Rolls Royce on Turo that in the case of an accident my claim will be denied just because it's not owned by my business???

[@benrichards9667]

What's your thoughts on renting polaris slingshots? I noticed in Vegas there are a few companies doing it, and about 3 years ago Honolulu had about 10 of them for rent. Thnx!

[@LuckyLopez777]

they are the best ROI of rentals. I was getting $300 a day for one but not people here are renting them for $75 a day now

[@deeharp]

You forgot the mention the KZbin experts that make videos on all of it.

[@josephlieggi4026]

There’s a guy who worked at a high end valet for the airport so all the cars were supercars he had just started asking how many miles they had on their cars. Most of them had no clue how many There’s a guy who worked at a high end valet for the airport so all the cars werte supercars he had just started asking how many miles they had on their cars. Most of them had no clue how many miles they had. He started renting out the cars to a private network of people he knew. His family also owed a car wash business which he got a lot of his clients that were renting the cars from him. He also had the cars washed and detailed by the car wash as well once he had to bring it back to the owners of the car. He had convinced the owners of the cars that the valet came with a complementary car wash and detail. Until one day the owners were coming back, but the guy he rented to the car to wasn’t answering then he noticed the car was in a car chase on TV and right as the owner of the car had gotten to the valet. And he said the car must of been stolen and then said oh my gosh that’s your car on the news being chased. The owner didn’t even get mad really he was really understanding he turned out to be really big in the insurance business so he was able to get a new car pretty easily. The guy running the valet stopped renting out cars and actually never got caught

[@FixtIt]

Isn't Ed Bolean in Atlanta?

[@MrThe1234guy]

If anyone doing exotic cars has lost their mind. Do average mediocre cars Toyota's midsize cars and cars 5-6 years old. For the price of one exotic car you could buy multiple Sedan's which will have a high resale value even with even with higher miles...

[@thekylerobata]

Set looks good!!