How To Avoid Losing Money On Turo! Must-try Turo Monthly Income Calculator

[@JUANMA24202]

Thanks Elizeche I’m going to be able to see if I can or cannot place my car on Turo. Thanks.

[@monicareyes2286]

Thank you 🙏 appreciate you

[@thisandthatfloridausa6112]

Good informative video. Thank you. God bless you.✌👍❤

[@fernando_h_001]

Thanks for watching much apprecaited.

[@keponki]

Thank you

[@fernando_h_001]

You're welcome, thanks for watching!

[@rickymagicanada]

Thank you!!

[@fernando_h_001]

Thanks for watching !

[@jesusromero8081]

I would like to know what happens if the vehicle has an accident and it is a total loss, and I already pay the car to the financier, how much Turo insurance will evaluate my vehicle. how to know how they calculate the value of your vehicle, can i be guided by kelly blue book? Many thanks

[@blacnium1]

Hello, this was truly helpful. I tried the link to your site, but it didn't work. Is the Analysis Calculator site still up? If not, do you offer another option? I could really hse this.

[@fernando_h_001]

I need to look into it the server I had that form on, may have been shut down. Sorry about it.

[@juancarlosguerrasanchez6421]

Which is the webpage ! I can’t finded :(

[@fernando_h_001]

Just updated the description! Its working now!

[@lauralong3091]

this is extremely helpful. thank you!!

[@fernando_h_001]

Glad it was helpful! Thanks for watching

[@terrellowens67]

Thank you for this tool it going to help me a lot with my future turo fleet

[@fernando_h_001]

Glad to help!

[@bigbossmoneymami]

the squirrel LOL

[@Guaypao325]

I have been watching your Turo videos all day and didn’t plan on subscribing until I saw this video at least. All because of a $49.95 per car joke. PS that wasn’t a squirrel, it was a chipmunk.

[@cashbackcollier]

Bro your awesome for providing a free calculator. I saved your video so when I do my first listing I’ll donate to your platform

[@fernando_h_001]

Thanks for watching and supporting the channel much apprecaited! Best wishes to your fleet!

[@tribemandigo453]

Tht tool is a gem bro

[@fernando_h_001]

Thank you I worked hard to make it simple and helpful.

[@jankoszuta9835]

Inspired to do my own spreadsheet with more detail on the service costs. Many thanks, encouraging

[@fernando_h_001]

Hello Jan, failing to prepare is preparing to fail. Glad this helped in some way!

[@bradm3819]

This is a great resource!

[@danielguerra9046]

Hey man, love your content. Subscribed and liked. I'm just starting out but you think we can figure out the cost per mile driven along with the fees? I noticed some people will only drive 20 miles while others will drive 200 miles. Thats a big difference in maintenance.

[@fernando_h_001]

Hmm, i never thought about it in a cost per mile way, let me work on some formulas and see if I can change the calculator.

[@robohh239]

Great video. Chipmunk 🐿

[@fernando_h_001]

Hello Rob, thank you for watching!

[@ttfrhoncho6716]

While it's important for fleet hosts, I'm at a basic level looking to have some nice cars, for free. But even so, you have to know when it's actually free. I have a spreadsheet that calculates all that. For my ego's sake, I look at the profit before depreciation, then my business side looks at the profit after depreciation. Then you have to bring in tax calculation, what you're deducting, etc. When I used the tax cut and job rules to depreciate the two cars I bought in 2019, my tax burden changed greatly. That won't work for everyone, but I went from owing $1,800 to a $7k refund.

[@fernando_h_001]

Hello TTFR Honcho, Thank you for sharing this! and for watching!

[@UnwanaUdoh]

Thank you for sharing this, much appreciated.

[@fernando_h_001]

Hello, thanks for watching, and commenting, really hope this is helpful!

[@UnwanaUdoh]

@@fernando_h_001 yes, it was awesome and helpful 👏

[@gdavge2003]

Love the form-based calculator! I also use some similar calculations on my spreadsheet. Just a note though, might be helpful to consider adding a field for tax %, as Turo is taxable income and many people do it as a side-gig. That can make a big difference for some people who are in higher tax brackets.

[@fernando_h_001]

Hello David, I completely agree I think that Adding the tax % for the income tax should be an option on the calucator for people to select to calculate or not. Thanks again for watching.

[@brandonreed09]

Even if you are financing a car, your car is still depreciating. It doesn't make sense to make that a combined box, depreciation should be its own box.

[@fernando_h_001]

Hello Brandon, I agree with this I think since I was having issues finding a way to make the calculator in a way that was simple and not very intimating there were some tradeoffs along the way. but I agree that financed vehicles need to be depreciated as well. Thanks for watching!

[@joeybassbass]

Good luck with your channel. This is great content, especially the free calculator

[@fernando_h_001]

Hello Joe, thank you, I really appreicate the support ! Glad to hear my content is helpful, feel free to let me know what else to post on.

[@TeeSoy572]

Solid!

[@fernando_h_001]

Hello Dominic, glad this was helpful. Thanks for watching!

[@nancybjackson4508]

Just found you, this is amazing info! Thank you 😊

[@fernando_h_001]

Hello Nancy, thank you for commenting and for watching, very grateful for your kind comments.

[@Iamjoehernandez]

Real advice! Thank you 👌🏽👍🏽

[@fernando_h_001]

Hello Joseph, thank you so much, really appreciate it.

[@Coachkeva]

Great information! Thanks

[@fernando_h_001]

Hello K, thanks for watching and for commenting, much appreciated.

[@GuillePozzi]

You should add; "Car's age, current mileage, and purchase price" and also "Estimated mileage use per month" and with all that calculate a depreciation value and set an "Exit strategy" (some select how many years he thinks it will rent the car for. That way you can also estimate how much will the car be worth by the time you want to exit, to see if you are really making money on it. Because a lot of people have a 6 year loan at $XXX monthly payment plan, but they don't consider that the car will actually rent for the input price for only 4 years (if lucky)... So you need to know how much the car will be worth after year 4 to know how much money you'll really make.

[@fernando_h_001]

Hello Guille, I like these recomendations, I'll start working on adding these features, Thanks for watching!

[@101beirut]

Expenses 2530 per mo less revenue you’re negative !

[@brianpham5211]

Love your content! Thinking about getting into Turo, myself. Are you able to share your scripts?

[@fernando_h_001]

Hello Brain, thanks for watching, here are the text templates. www.fernandoherrera.org/post/pre-written-text-messages-you-need-for-turo

[@oldschool1993]

How to make money on TURO- my free calculator 1. If you have a car payment- FORGET IT 2. Don't pay some guy 49.95 for something you can do with a crayon on a piece of paper. TURO is not "passive" income- it is a job with risks, pressures and frustrations- cars picked up late, returned late, or in wrong place, keys not returned, car dirty, dents, scratches, mechanical abuse, renter got parking tickets that come back to the owner or car had flat tire on the freeway and the guy just abandons it because he needs to catch a flight. etc. etc. You need to own your vehicle outright, so your insurance can be kept to the absolute minimum liability coverage. You need a car that is reliable and basic, not something that invites speeding and abuse. You need a car that is not new, but still has a good warranty coverage from the manufacturer. You need to be handy and energetic so you can do your own oil changes, brake jobs, cleaning. You need to be a low blood pressure people person who can handle customers and all their craziness without dropping dead from a heart attack. You need some help- if a customer wants to pick the car up at a hotel or airport, you need to get it there and somehow get back home yourself and at the end you have to somehow get back there to retrieve the car. So, let's say you got a nice late model 4 door Toyota or Nissan for 15K and you do the 60 percent deal with TURO and it rents for the optimistic 20 days at 60.00 per day- you will net 36.00 per day from TURO, or about 720.00 for the month. At that rate, in 20 months your investment will be paid back and you are even and future earnings will be yours to keep.

[@fernando_h_001]

Not bad, I agree with this strategy.

[@Ebbylg]

Thanks!

[@fernando_h_001]

Hello Ebony Green, Thank you, glad this tool was helpful!