but i mean - maybe there's opportunity for growth..? if it were yours, would you keep it listed? if you like keeping track of numbers (the ups, and the downs...) as closely as i do, consider downloading rocket money :) easily view and cancel all your subscriptions, stay on top of spending, put savings on autopilot and more: rocketmoney.sjv.io/goherping
@isthatateslaАй бұрын
Watch ALL of Saimah's videos if you haven't already.
@jeffmoore8776Ай бұрын
your adding cost that your already paying, your loan and your insurance. Stop renting and you still in the -600 a month.
@yacinecombaryАй бұрын
Keep it listed, but increase the price. You could definitely make a small profit off of it with a small increase in price. Breaking even at the start is good because it increases your reputation by getting more reviews but after that there's no use in keeping the price that low
@myka431Ай бұрын
This
@AlexlfmАй бұрын
Your revenue per mile figure is quite frankly… bad. $.25 per mile driven is WAY too low. You really need to increase it at least 50% to have this make any financial sense (and even then it’s on the low side). With that amount of millage you’re soon going to require new tires which will absolutely destroy any profits for basically the entire year. You are paying yourself nothing and the car is a depreciating asset. Also, you made no mention of the costs of charging at home when it wasn’t returned full (or had to be driven back) or registration. Did you factor those costs into your calculations?
@mfkpАй бұрын
Brother, increase your rates 25%, and make it a minimum 2 day rental. That way your work per rental is lower (value your time), and you won't get people joyriding your car to shaboink as much.
@greythedarkmaster3380Ай бұрын
Literally just this, and you are for sure making more money.
@ParkJustin-r3h11 күн бұрын
That will bring him extra 250 a month which is bad regardless.
@isthatateslaАй бұрын
Your voice is fine. You're doing well. Don't be too hard on yourself.
@thegrimmkitty9786Ай бұрын
I love his voice it’s so soothing
@asitmcАй бұрын
yall take everything just so literally.
@jamesmadison-r7iАй бұрын
@@asitmcwhy are you commenting everywhere riding his dick, hop off and let us ride weirdo
@Gryphind0rАй бұрын
Ya it will get better when his balls drop
@misterchris8916Ай бұрын
its terrible...
@anomaly1711Ай бұрын
bro charge more
@dionparryАй бұрын
Lol
@BadHombreDanielАй бұрын
Competition is charging just as little it’s oversaturated
@isthatateslaАй бұрын
T-ro now makes it super complicated to do this, but I 💯percent agree.
@_Matt_Matt_365_Ай бұрын
Came here to say this
@seanlindyАй бұрын
That would make sense. He never does anything that makes sense
@LukksiaАй бұрын
if someone crashes and dies in the tesla you have a banger video on your hands 👍
@GoHerpingАй бұрын
i will likely be sued too!
@vicmonty5556Ай бұрын
@GoHerping and then you'll have more videos
@stingerBTWАй бұрын
😭💀
@marine2toughАй бұрын
@@GoHerping Nah, they will sue Turo, they know that's where the money is. It's in that commercial insurance policy.
@krystalzeogas8814Ай бұрын
@@GoHerping Which is also a good video 😂🙊
@LizaGrace97Ай бұрын
34 a day is EXTREMELY cheap especially for a Tesla, I live in a tourist city on the coast so maybe that's why rental cars are pretty expensive but the only cars I've been able to rent for $34 are older basic cars, Tesla's and SUVs go for $50+ a day lol especially with the Tesla premium, cleaning supplies included and all that, you could definitely charge more
@GoHerpingАй бұрын
i realized i didn't specify the actual list price, $34 is what i get after 25% is taken out for commercial turo insurance plus turo fees. so the customer sees the price as $50-55/day, and then there's some 5-10% discounts depending on booking details. so $34 is what i get in the end
@rhodeislandhiker4745Ай бұрын
I met someone when I was renting off turo who did this as their full time job. His house had a double parking lot for the extra cars and he had tons of cameras all over the place because it was pick up and drop off only . His car set up was like 10-15 cars and trucks . Alot of older but well kept hybrid's and a few Toyota yaris and some trucks. Most of the cars had between 170k -230k on them. Seemed like he was making a lot cuz he cars were always getting booked prices were from $36 -$42 I'm in Rhode Island. Hope this helps brother
@GoHerpingАй бұрын
that sounds super fun actually. id love to see his day in the life
@blank3406Ай бұрын
Honestly your voice is lovely, it’s super smooth and honestly calming to me. I can listen to you for hours.
@emilijadikinaite4386Ай бұрын
I love your weird ideas and adventures, One day I'm watching you take care of chickens the next amazon, next turo
@GoHerpingАй бұрын
thanks!
@Kushgoblin444Ай бұрын
Came across this randomly and thought I recognized you and I looked through your Chanel and found out your the animal guy I used to watch back in the day and now your doing car content no way congrats man!
@GoHerpingАй бұрын
welcome back :D
@phillipsmall7674Ай бұрын
Hate to say it but this is probably going to end up like your roommate fiasco. It all sounds good in theory but reality is that the odds of success are not stacked in your favor.
@iankohen187627 күн бұрын
It’ll work if he raises rates, makes airport drop off more expensive, clean the vehicle himself only, turn on 3 day booking minimum. All of those things he combined he will have a good chance of success. I run Turo with 3 vehicles in Atlanta. YMMV but I paid off my first cash car I bought for 13k in the first year of renting it. ( I did have 4 cars one was wrecked) Turo paid me out almost the exact dollar amount as when I purchased the vehicle. That vehicle was out on the road for 2 years collecting revenue + got paid out to buy another vehicle. Turo is great if you manage it properly.
@toryecohenАй бұрын
there are two things you didn't account for one is that if somebody crashes your car than you lose weeks of revenue and that if you rent it for a few years its basically battery lottery if your battery lasts less than 300k miles, witch is likely, you have to pay 13k to replace the battery.
@GoHerpingАй бұрын
true, but i never really account for "ifs", since every project has so many big and little risks
@toryecohenАй бұрын
@@GoHerping you should look on return on investment if you put 1000$ on the line than 200$ a month its worth the risk but if you put 20k on the line and renting a car is risking it than its not worth the risk of anything going wrong and any unexpected problem will turn it to a loss
@lukefranklin8154Ай бұрын
Seen people try this and within their first week track the car back to a chop shop, ppl will rent your car out and replace new parts for old
@DanKxxxАй бұрын
A friend owned a car rental business and they'd have optional insurance. It was a scam really because the company already had all cars insured. When someone crashed a car and did not pay the additional for insurance it would be a big pay day. One customer crashed a Porche which ended up costing 50k all covered by insurance and the customer also had to pay 50k leading to a 50k profit although the car was out for a few weeks it was worth it.
@jeffreygordon7194Ай бұрын
@@DanKxxxIf they collected a settlement from the insurance company and got the same payment from the customer, that's fraud. It just doesn't work work like that.
@cantgetright742Ай бұрын
IRS figures 67 cents a mile. So I use that. Keep track of expenses and use whichever is more. Then you don’t have to worry about depreciation.
@viktorivakhno2244Ай бұрын
@@cantgetright742 this not working for Turo. Since you do not charge the car all the time, you cannot use the standard mileage deduction. He could go only through depreciation schedule
@cantgetright742Ай бұрын
@ standard mileage 100% is usable with EVs. Doesn’t have anything to do with how much fuel you use, or power.
@viktorivakhno2244Ай бұрын
@cantgetright742 read irs guidelines or ask cpa. If you are renting to someone and this person is pay themself for gas or charging, then you can not use standard deduction. You can use it only when you pay for all expenses. Lets say if you will pay for charging/gas and give to renter some kind of card to pay for it, only then you can use standard mileage deductions
@cantgetright742Ай бұрын
@ Standard mileage rate not allowed. You can’t use the standard mileage rate if you: Use five or more cars at the same time (such as in fleet operations); Claimed a depreciation deduction for the car using any method other than straight line for the car’s estimated useful life; Used the Modified Accelerated Cost Recovery System (MACRS) (as discussed later under Depreciation Deduction); Claimed a section 179 deduction (discussed later) on the car; Claimed the special depreciation allowance on the car; or Claimed actual car expenses after 1997 for a car you leased. Note. You can elect to use the standard mileage rate if you used a car for hire (such as a taxi) unless the standard mileage rate is otherwise not allowed, as discussed above. There you go. Publication 463
@overnight.gАй бұрын
I love your raw and honest content! You're inspiring. Always stay true and humble brother!!
@charliep12323 күн бұрын
“Just to make sure the car wasn’t floating off into the Atlantic Ocean” made me laugh probably more than it should have.
@user-kd4mi8xb7pАй бұрын
See if you can raise your price $5-15 per day and do longer term rentals. When it's a one day rental, sometimes it attracts the wrong crowd and cleaning has to be done more frequently. Similar to airbnbs, hosts like to do 3 day minimum rentals to disincentivize people who party for a day and then trashing their place. Your target demographic should be families and people on vacation. Longer renters won't trash your car so easily since they need to be in it for a few more days. Good luck in your journey!
@dionparryАй бұрын
We love ur voice no diddy
@GoHerpingАй бұрын
thank u dionny
@inkyboi1690Ай бұрын
Yeah tbh In theory turo is cool but I wouldn't do it, people don't care for what ain't theirs :/
@raphiseth6942Ай бұрын
Don't be gentle its a rental. I know a huz that redlined a car that had 20km driven before and loading it up with construction material.
@mstdymАй бұрын
Theres a saying that you should never buy a used car that was used for rentals
@ExertvrАй бұрын
I rented an Mx in la and washed and cleaned and vacuumed the entire thing. Not all people just some. Defo se what u mean tho
@FrostyfernАй бұрын
This is one of your three cars on top of insurances and mortgage. Brother how do u keep all this under control? Should do another of your vids where you show your debt and expenses vs income like you did before.
@jessicavallee3831Ай бұрын
I'm glad you're keeping it listed. I'm very interested in seeing how it goes and I also think that as you gain good reputation on that platform you are more likely to get more renters and will be able to gradually set the price a bit higher.
@DaveBjornRapp16 күн бұрын
7:54 See the scratches on the back of the driver seat? You can fix that with a heat gun or good blow dryer. Just start out far away and get closer until the ends of the raised bit start to melt. Do it in small amounts until you get comfortable with it... then it'll be really quick to do once you learn how close to get and how long to do it.
@isthatateslaАй бұрын
I have a bookkeeper who handles multiple Turo hosts. They aren't cheap but a business expense and worth it. Better advice than just KZbin commenters.
@KaityscichlidsАй бұрын
I think it's really cool how you consider so many variables and live life more through meaning and purpose (even when considering material stuff/finances). Love hearing about your adventures!
@lauragrace5622Ай бұрын
You’re my role model - dropped out and still doing math
@swoods7720Ай бұрын
As someone who’s considered renting on Turo your video is very helpful as a brand new driver! And you’re funny too!!
@GoHerpingАй бұрын
ty :D
@TheWorkingAussieАй бұрын
I think with any business, it takes time and hardships to make a profit. In the beginning, it's just about learning, getting experience, and getting reviews. As long as you're not always just in the negative and you're making even, I'd say just continue longer and see how it is. But obviously, with cars and strangers driving it, it's a huge risk for them or someone else to total it. So you just have to take it on with the risks in mind.
@PhaseishАй бұрын
remember you gotta put a value on your time too.
@AquaticMooseАй бұрын
It will be interesting to see the same kind of video from a month where you prioritize profit over use, nice one 👍
@a.agrayson6253Ай бұрын
I personally wouldn't keep doing it with my car, but I like the videos, it gives you a functional spare Tesla and it provides you with enrichment. Keep doing it until it's not fun anymore.
@GoHerpingАй бұрын
ty! the last bit is def my mantra lol. FUNMAXXING
@thesunburntsnowball29 күн бұрын
As long as your staying safe what you do is up to you
@user-dz8bs9up7nАй бұрын
Selling the car next year could minimize the depreciation you face, Also you can just buy another one. (At a lower price then this 1 & while tax credit still exist)
@jodijoee6844Ай бұрын
Keep going! Enjoying the content
@GoHerpingАй бұрын
ty!
@Golden.BuddhaАй бұрын
Someone get this dude to collab with that finance show with the Hammer guy lol
@slowboyfuelpump5438Ай бұрын
Caleb Hammer is a grifter and an incel
@Shaijn815Ай бұрын
Alex isn't in texas though but I guess I could see him road tripping to austin as a video for it haha
@TheFailMistressАй бұрын
bring back the monthly budget videos! 😁
@TheFailMistressАй бұрын
please
@GoHerpingАй бұрын
hmmmm. they were pretty fun, if i find the time, maybe i'll do a year in review on spending for 2024? glad u like em too
@CoastalKiteАй бұрын
“I hate when cars don’t get driven. When they just rot in a driveway” says the single guy who owns 3 cars
@Josh_smells_niceАй бұрын
Lel
@MrOswalito6 күн бұрын
I think this is crazy interesting and I think you should keep going. Sure you might spend more than you make but you're also learning along the way and that is incredibly valuable. I think you need to follow your instinct however wrong they might be. Just make sure you learn from mistakes and get a little bit better every day. I wish you the best of luck and all the success Alex. You got this.
@soldonwishАй бұрын
Also definitely increase minimum rental days to 2-3 and charge 15-23% more
@leopoldstotch7076Ай бұрын
You’ve a really pleasant voice, there’s absolutely no reason to be self conscious!
@ken9177317 күн бұрын
The IRS says it costs 67 cents/mile for fixed and variable costs for a car. If you don't make at least that much, you are not making any money.
@dude6605Ай бұрын
Your voice earned my subscription now it’s the clear and interesting content keeping me here. I think it’s hard to determine the full risk of this adventure after a month. I say keep it up the content is gold. 👍👍
@GoHerpingАй бұрын
thanks!
@Snerdles14 күн бұрын
Standard lease rates are about 25 cents a mile... You should be making above that. Depreciation, maintenance, and propulsion all usually work out to about 10 cents a mile each so a rough guess without doing actual expenses is that 30 cents a mile completely run a vehicle.
@dionparryАй бұрын
I keep coming back to this video !
@drx1722 күн бұрын
You’re easily my favorite smaller KZbinr, keep it up
@GoHerping22 күн бұрын
thanks!
@nowscАй бұрын
… thanks for doing this video. I have the same car as you, 2018 LR, 2018, 21,000 miles; I don’t drive that much. Been thinking to do the same, but I thought there’d be more money in it!😢 thanks for your video and your great folky explanation!
@GoHerpingАй бұрын
def more updates to come. while i really do think the money can be worth it longterm, it would be really hard for me to list a personal car like that - especially with such crazy low mileage
@minimalist_monkАй бұрын
Let’s go around the pommel horse, is one of the best sayings of 2024.
@Sulfen27 күн бұрын
You have to take the information that you found on your first month and raise rates the next month. You might get less bookings but you need to find the sweet spot that increases profits.
@FactZapTVАй бұрын
I love how honest you are with sales. I am only 20, but my plan is once I graduate and have something stable, I will buy 2 used Teslas. one for personal and one for Turo I currently drive a 2024 Model Y, and I am in love. I've always been a fan of Tesla, so to get to drive one is honestly awesome, and I would love to share that experience with someone else while also hopefully making a profit. Now in terms of your question, free Tesla? YES! That's the point: you have people pay off your car while you do your own thing, and after a year or two, your loan is almost paid off, and you just have a free car you barely worked for. Teslas are quite reliable, and if you have full insurance coverage, you wouldn't have to worry about big damages caused by renters; the only fear would 100% be the battery, but I've seen really old Model S' that can still hold over 100-200 miles on a charge. So at the end of the day, you have something that other people paid for, and you could either sell it or keep it working to make you a profit!
@flyordieinafireАй бұрын
14:21 raise your price on turo now that you know more and have reviews.
@HERMITvgaАй бұрын
... It was our first time with you too Alex, renting on turo ;)
@raakymusic4336Ай бұрын
Ignoring upfront costs (lightning cable, etc), and ignoring the one-time $600 damage claim, you're at +$3/month. So essentially breaking even. However, the first question you have to ask yourself is: would I have bought this Tesla even if I weren't going to rent it out? If the answer is yes, then you can't consider your $443/month car payment as a business expense, so your "profit" is more like $446/month and you are essentially getting a free Tesla. Sweet! But now you have to ask yourself: What else would I have done with those 16 hours per month that I spent spent renting out my car? And would I be willing to bear the full cost of my car payment ($443/month) to get those hours back? So your options are: I like my Tesla but I want more money for my time -> Raise your rental price I like my Tesla but I want my free time back and I don't need extra income -> Stop renting, keep the Tesla I want my time back and I don't care about having a Tesla -> Stop renting, sell the Tesla and get a cheaper car I like my Tesla and I'm happy breaking even -> No change (I would be surprised if you pick this one)
@Metal7771Ай бұрын
I love Turo because I can rent cars I normally cant through rental companies. However im on the road so much when I rent one, an EV would just be in convenient for me, especially since my friends dont have chargers at their house.
@samuelramirez4774Ай бұрын
ROI seems rather low tbh, I would keep another couple months to see if it gets better. If it continues the same way, I'd get rid of it.
@RealLifeDoomerАй бұрын
I mean, as long as you break even, I would continue to do it, see what happens when you get more reviews. If not anything else, rental "adventures" seem to do quite good for you on KZbin, so at least you get great content out of it. But for additional revenue, I would definitely look into converting your huge house into a duplex and rent it out long term or maybe even AirBNB it short term... Depends if you are near tourist-y area or not...
@elizabethkeen7851Ай бұрын
He is near a city that has a large tech industry. He could make some money just renting to people on work trips to Raleigh.
@pickleshmickle8010Ай бұрын
Yo what happened to the reptile videos😭
@DiscoMoodАй бұрын
You will probably make more money by us watching this video than with Turo, but then again, you might break even. You are adventurous so go with your gut feelings. Great video.
@GoHerpingАй бұрын
thanks!
@mufasumАй бұрын
i think you need to up your rates, contact the other tesla members to up there rates to stay competitive and profitable too like some sort of union.
@jamesrobinson15794 күн бұрын
I no nothing about Tesla but I think one factor that will be huge in the profit/loss equation when you get rid of the car is that high mileage EVs are paperweights... Not worth the scrap steel price because (at least now) battery packs are the largest part of the price but not yet being recycled/exchanged at anything close to scale...
@alans.4658Ай бұрын
just subscribed, keep going!!
@GoHerpingАй бұрын
ty!
@jewlechoАй бұрын
Idk what your ad revenue is for these Turo videos but could you technically add that to your revenue? 🤔
@GoHerpingАй бұрын
yeah, almost nobody ever points it out like you have - but my "real" spreadsheets include what i make from videos covering the side hustles too. i've been going back and forth on whether i also start to include that extra layer of money in videos or not. my main hesitation is just that it removes the realism of whether the average viewer, since a lot of people watch to see if they should also try it out themselves. at the very least, i could do a separate vid covering exactly this!
@Shaijn815Ай бұрын
Rental charges might need to be higher if you are losing money on it I think I remember you saying yours was the cheapest model 3 in your area
@georgemendez777Ай бұрын
Sound like the car was rented for about 2 weeks of the 30 days. I think the goal would be to have it out for 30 of the 30 days and t hen you'd be making some money. and question is did you specifically buy this car just to rent it out? If so then yes included monthly car payment but if not I wouldn't include car payment in the expenses because regardless of renting it out or not that payment needs to get paid. Hope this helps and hope it gets even better for you in the near future
@DogtrollАй бұрын
What I've found when it comes to companies using their employees cars or in this case private citizens cars is that it usually tends to not be a good deal for the private citizens. I mean think about it, if it made more sense for them to use their own cars economically wouldn't they? Plus, people are far more likely to be careful with a car owned by a corporation than they are going to be with a privately owned one because they are far more likely to be able to get away with damaging your car. A company would not only make you pay for all damages done to their car but also charge you a premium above the actual cost of repairs, they would almost never make excuses for the customer. Note: Also, when companies repair any damages done to their property they will almost always pay below the retail cost to repair including having on staff mechanics to do the work basically at cost in order to squeeze out more profit. Whereas you're receiving money for damages done to the vehicle and not repairing it and then counting the money paid for the damages as profit. That really doesn't work from a business perspective, what are you going to do the next time someone damages your car and you don't just happen to have the extra parts to fix it just lying around?
@alexythegalexy256Ай бұрын
bruh im lookin at you and im like, dope i get to watch another me in a tesla letting me know whats up w turo and then your names Alex, im fuckin dead
@Mark-in-TexasАй бұрын
That was a plot twist, I was totally thinking you had learned renting out your Tesla was a huge mistake and not worth it, then you say it's fun and you're going to keep renting it out. You mentioned your voice, I actually like the sound of your voice, and since you have so many subscribers, others must find you very appealing too. Good luck with the continued renting of your Tesla. btw, have you factored in tire wear and replacements into your calculations?
@GoHerpingАй бұрын
nope, tires will definitely be a fun chunk of change whenever they get worn down lol. i have a couple ideas on how to save money here though!
@ilangranoff6762Ай бұрын
Wrap the car to make it stand out and increase the price. Even if it gets damaged it will be worth it.
@PurplesquigglystripeАй бұрын
I’m making over $100 a month from just renting out a parking space. No extra maintenance required
@GoHerpingАй бұрын
nice, i actually looked into those but as a turo host, so I could rent spots for cars if i ever need a new location or wanna expand
@brandonscott301217 күн бұрын
Definitely not worth it if money is all that matters.. but you get a decent set of experience and skills from the process. I would recommend you make this a temporary test type project and plan on retiring the idea within 6-12 months.
@brandonscott301217 күн бұрын
Or even sooner if you keep losing money.. lol
@LonesygamerАй бұрын
you need to factor in your interest rate for that care also since most of first two years of payments goes mostly to interest
@carmineglitch20 күн бұрын
Turo aint easy, I would argue it aint worth, 1 crash or scenario with insurance pretty much kills any gains or momentum to list.
@fburnsDubstepEnderFoxАй бұрын
I'd raise that price a little bit... Lowballing is great for customers, but it won't cover long term damages to your Tesla.
@angli232Ай бұрын
That's ok, it's like gambling, it's not about win or lose, it's about the adrenaline rush(participant), and in your case problem solving!
@FactZapTVАй бұрын
Wouldn't you consider profits made from ad revenue and sponsors on videos regarding the turo car to also count as profit towards this car?
@brizuhk504325 күн бұрын
Definitely gotta charge a little more, but i’m pretty spot on with everything you were thinking financially, Maybe start taking that $1000 in revenue at the end of the month and throw it all on black 🤞🎰
@This0is0pointlessАй бұрын
i dont think the first or maybe even second month should count if you ran cheap rates for building reviews, i feel you should bump the price if your going to provide a clean quility rental with paid features, a full charge etc.
@TBCOMLАй бұрын
Put a mile limitation on the tesla helps with people just out joy riding your whip.
@GoHerpingАй бұрын
the lowest limit you can put is 200 miles per day - though the majority of people have just been travelling so it is pretty necessary
@georgepitman830Ай бұрын
There probably aren’t any in your location but have you considered Getaround?
@GoHerpingАй бұрын
never heard of it but just looked it up, there's 4 cars available in Raleigh, each one has 1 or 2 trips lol. Turo doesn't allow me to list my car on multiple platforms, but if i ever delist, i could maybe try some of the newer/smaller sites
@tocoolvenom26 күн бұрын
Don’t look at is as a loss you have reviews and now are becoming more official everyday. Also you gained a bunch of knowledge and your creating relationships and skills. I’m looking at starting a Turo business with a buddy and everyone always has reason to say don’t do things.
@GoHerping26 күн бұрын
your last sentence is huge lmao. people are INSANELY pessimistic/doomer/lazy. many people find every excuse to not do things and are never willing consider that something good can come out of stuff
@spaceman4782Ай бұрын
I can’t believe I got tricked into watching financial advice
@mythiccmage16 күн бұрын
It might have more value if you use your tesla outside of turo rentals. Because then someone else is paying an expense you would have anyway.
@robertjong5550Ай бұрын
Just fyi the govt rates vehicle depreciation at 60-75 cents a mile
@GoHerpingАй бұрын
yup
@TheAliSareiniАй бұрын
What’s the process for invoicing customers for things outside of the normal Turo expenses? For the wheel damage you dealt directly with the customer but does Turo offer any protections in the event a customer screws you over (taking parts, damaging the vehicle)?
@GoHerpingАй бұрын
most of the invoices are done directly through turo (charging, tolls, late fees, etc) and anything else will require opening a claim if your guest doesn't comply. but i believe every claim is gonna require you to pay your deductible - mine is $250
@TheAliSareiniАй бұрын
@ thanks man!
@Derpy1969Ай бұрын
Taxes and depreciation will occur whether you rent it or not.
@TheNewMediaoftheDawnАй бұрын
Honestly like doordash, Uber, ect those companies have you priced in to lose, digitally…. I did Lyft and after gas, expenses, and most of all wear and tear, you’re giving people free rides mostly. Very very difficult to beat the digital p/mps at their own game…. -Like a Casino.
@dwwwwwwwwwwwwwwwwwwwwwwwАй бұрын
the tax credit isn't dependent on you renting out the vehicle - it doesn't justify all the work you've done for the month.
@GoHerpingАй бұрын
truueeeee. i bought the car to rent out to my roommates, and then turo was the backup plan, which i ended up having to utilize. so i personally wouldn't have a use for the car if not to rent. though i guess i could technically just sell it and cash in on the tax credit lol
@TonyKureWorld4 күн бұрын
Telsa is definitely not the way to go to make money on turo , great cars but your payments versus what you make not to great. chevy trax has been the best thing in my fleet so far
@TonyKureWorld4 күн бұрын
What insurance do you have that did all three cars for 240 i need that im buying a few vehicles this week
@tom-ss2mnАй бұрын
I say keep doing it. It's paying for itself
@_purge9488Ай бұрын
It only paid for itself because someone curbed it lol It was a $200 loss before the claim
@aaacomp1Ай бұрын
You don't get $4000 off your taxes. You get $4000 off your taxable income. Which is more like $400 in the end.
@GoHerpingАй бұрын
it's a tax credit, not deduction - it's whatever you owe, minus 4k. i took a similar one in 2019 and got $7500 off the tax bill
@aaacomp1Ай бұрын
@GoHerping that's exactly what i just said...
@misterchris8916Ай бұрын
@@aaacomp1 you are wrong and didn't say that. Troll somewhere else
@aaacomp1Ай бұрын
@@misterchris8916 lol, read what i wrote, dumbass
@GoHerpingАй бұрын
im confused lol. i said you get 4k off. you said you don't get 4k off - those seem like opposite things. hmmm
@RoeVenturesLLCАй бұрын
13:00 same question do u sell? Maybe so, as dynamic pricing letting bad guests drive nice cars
@inkyboi1690Ай бұрын
Jesus man 800 dollar damage is crazy
@isthatateslaАй бұрын
I know some young guns who've been paid out more in total damages than the vehicle is worth.
@cousinjohncarstuff456817 күн бұрын
Be wise and use the $600 to fix the rims and keep it in pristine condition.
@spyderkavinАй бұрын
In my city teslas are $80 a day... From customer side.
@GoHerpingАй бұрын
what city? thats pretty crazy
@smokexl3442Ай бұрын
I currently rent a Tesla from a guy out of apex nc for uber and DoorDash you would’ve made more money renting to a rideshare driver lol. This was a great informative video since we are in the same area and I thought about doing this also in the future
@GoHerpingАй бұрын
nicee. yeah that was essentially the original reason i got the car - rent as an amazon flex vehicle to my roommates. turo always seemed interesting so im glad i finally get to try it, but i'd be up for letting someone use it for uber/etc as well. how did u find the guy you're renting from?
@smokexl3442Ай бұрын
@ I found him off Facebook honestly. I been doing uber for years so I talked him into a flat weekly rate where he put me on his insurance and I just Venmo him every week. He wrote out a contract stating I can’t drive out of state unless I have a uber ride taking me out of state and a few other requirements but I been renting from him for an about a year now and it been great for me.
@Wurlipurili12 күн бұрын
Dude, your expenses add up to $750, not $1236, judging from the description and video-chapter Expenses. How are you doing math? Am I missing something? As I understood, you managed to fix the damage from trip 2 for free. If not, I can't find it anywhere in the video or description. Also probably around 300$ from the loan payment is not an expense, but you repaying the borrowed money. You don't really loose them. Once they are repayed you have the car, which costs the same if not depreciated. If you want to count depreciation as an expense, 8-10c per mile seems ok, meaning dead car after you using it for 200k miles, but the car might live longer. 2560 miles * $0.1 = 250$ So I would say your profit including depreciation is $952 = = $1051(revenue) + $601(claim payout) - $750(expenses) + $300(part of loan payment which is not an expense) - $250(depreciation from miles) So you seem to be painting a much worse picture than I see. $1k per month instead of $0 per month. Scale up, buy more cars! If you've spent around 12 hours per month on one car, you can manage 10-15 cars on your own, earning around 10k per month. Not bad, kudos to you! Waiting to see you hire people or manage cars in Robotaxi service when it comes out. Subbed.
@GraveUypoКүн бұрын
i would NEVER offer this service with any of my personal cars even if it was extremely profitable. gross. i still get heebie-jeebies thinking that someone else drove my car before me... and i bought it second hand 5 years ago from a woman that was probably very clean and careful because the car was like new (still is tbh)
@tangodelta5140Ай бұрын
Turo doesn’t let you charge people if they smoke in your car? Also who do you insure your cars through bc I pay $150 a month for one car and my driving record is impeccable.
@GoHerpingАй бұрын
only if there's evidence of smoking. ash, paraphernalia, etc - otherwise it's "he said she said". my insurance was more expensive with just 1 car, but became cheaper once i started adding on more cars and then bundled with home and personal property insurance
@FrostyfernАй бұрын
Did you get lasik or do you wear contacts these days?
@GoHerpingАй бұрын
i just don't like wearing glasses and can't really see anytime they're off :D lol
@chanchanCan3891Ай бұрын
@@GoHerping ... sometimes, I swear you're me. All you're idiosyncrasies, your demeanor, life philosophies and perspectives, you even look similar to me! If I were 10 years younger and male anyway lol I am totally fascinated and find you entertaining. Enjoyed the video, subscribed and as others have mentioned, would love to see a video on the breakdown of your finances! Keep learning and growing and enjoying life (especially despite the bumps!), you're doing great!
@raphiseth6942Ай бұрын
92$ for the start 443 $ Credit 100 $ insurance 60 $ windshield wipers 18 $ carwash 5 $ parking 28 $ Uber 746$ where is the rest of that expenses?
@ILoveTinfoilHatsАй бұрын
Charging, time, fees
@GTPLewellenАй бұрын
I would up the price. Cheapest Tesla in my area of Michigan is $79
@GoHerpingАй бұрын
oh dang. yeah they start at $50/day here, which after fees is $37ish - so similar to my $34/day
@HectorMartinez-gy8kp11 күн бұрын
As ur financial advisor, I would tell you to sell your car. As it gets older, the repairs are gonna cost more. You can invest the money you're spending on the car and get a better return.