How Much Did I Make Renting My BMW i8 on Turo | My Experience & Honest Review

[@WayneMorrison1069]

Great and honest video. Do you mind saying if you bought the car brand new or used, when you were 19, and the total cost of the vehicle? I'm doing a lot of research because I'm in the market for the same car, (BMW i8), and curious if your choice to rent was based on offsetting the cost of the car or just for additional side profit. Thanks for posting.

[@Gadne92.5]

Good basic video, but too basic. You didn't tell how much the car was driven, how many times it got rented, hows renting the car affected your insurance pricing, etc. You did not mention if any negative things happened, how much wear and tear and broken bits had to be replaced? How did the tires last? Also these cars do devalue even while just sitting in the garage for 1 year. Or with driven by owner alone ... lets say 5-10k km per year. How many km did the car accumulate over said year, both yours and the rental km's? And servicing the vehicle: even while you do not drive the vehicle, it needs its basic maintenance like engine oil, fluids etc. changed. Everyone seems to think that not driving = no need for service. This is not true. Especially these high end sports cars does need service annually. Even the most basic new cars have service intervals based on driven km and time, which even comes first. For comparison: I have been owning my 2014 i8 here in Europe almost a year now and have driven it 15k km. I bought her in order to enjoy, not "garage queen" her. Based the local "Autotrader" etc. used car market sites the asking price of these has dropped around 4k-8k euros. Of course depending the mileage etc. I paid 69k (euros) for mine at April 2023 and it had 72k km. Now it has around 87k km on the odometer. There's cars for sale with 85-95k km with asking prices of 62-66k euros. So with out any revenue at all, my car has cost me around 8 000 - 10 000 euros just by depreciation for one single year. If doing Turo I'd start with something with cheap maintenance yet somewhat appealing sports car like V8 Mustang convertible or Challenger or such.

[@Tropicalfrooploops]

You kinda have to try and see sometimes. I think it’s a good beginner business experience. Maybe if you got the process really strong, you’d turn a good profit. But I think there is a learning curve, and maybe the money is better elsewhere

[@krishnamehta]

Thank you for the comment! I agree I will always recommend spending the money and time trying something because the learning experiences are truly worth it

[@Kbeezy_]

How did you structure your private rental agreement?

[@krishnamehta]

I researched a few online generic car rental agreements. This really helped me structure my own and I took different sections from each to make my own and made sure it was adjusted for my vehicle and what I needed protection from. If you do a quick google search you will be sure to find hundreds of templates which are an awesome starting point!

[@ryonboswell5620]

What’s is private rental?

[@carshierge]

How did you market to weddings?

[@krishnamehta]

At first I wasn’t intentionally marketing towards weddings but after seeing the demand I knew this was a gold mine. This customer segment doesn’t drive your vehicle much or at all and they treat it with the most respect. I asked my customers for their wedding photos and I used these in my Turo listing to advertise the vehicle and show them how the car would look at their wedding. I also gave full permission to decorate the car for pictures. I hope that helped!

[@carshierge]

@@krishnamehta that was very helpful. Thank you!

[@KK-ml5lt]

So are you still renting the car? Did you sell it?

[@krishnamehta]

I am not renting the car anymore I just drive it as my personal vehicle