Should I Buy a Car to Rent Out on Turo?

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The Ramsey Show Highlights

The Ramsey Show Highlights

Күн бұрын

Пікірлер: 464
@youtubeuser5102
@youtubeuser5102 3 жыл бұрын
The fact that there are people running profitable Turo businesses should tell you something. Turning liability into assets! No business is without risks.
@resumefreak
@resumefreak 3 жыл бұрын
I rent out my car on Turo. It covers my payments plus more so far. (Payments$420) Most people treat the car fine. I just hope that continues. Turo does take about 30% which sucks. Overall it’s a risk but worth it so far
@Handgun777
@Handgun777 2 жыл бұрын
@@resumefreak What car is it?
@savagehulk_
@savagehulk_ 2 жыл бұрын
I agree 💯 every business or investment is risky but it's worth it
@der0ng
@der0ng Жыл бұрын
Yes, of cos there are succesful Turo businesses. But how many of them are run by college kids still in school with unpaid student loan?
@youtubeuser5102
@youtubeuser5102 Жыл бұрын
@@der0ng still possible. maybe not able to scale as big or quickly but still possible
@Jake-Day
@Jake-Day 3 жыл бұрын
Starting an entrepreneurial endeavor is much more important than a college education. Most millionaires are business owners. That's the highest correlation. Not a college degree.
@georgyrogers3281
@georgyrogers3281 3 жыл бұрын
He's currently In dept though for the college degree so he has to get it now, he can't back out. Therefore not a good idea to go into more dept for something that's pretty risky. Idk though just my thoughts
@MoniqueChatman
@MoniqueChatman 3 жыл бұрын
Well said !
@Handgun777
@Handgun777 2 жыл бұрын
@@georgyrogers3281 You’re mispelling the word “debt.”
@rcaerunnincirclesaroundeve5344
@rcaerunnincirclesaroundeve5344 2 жыл бұрын
AGREED!!!!!!
@tiffwashington1
@tiffwashington1 2 жыл бұрын
Agreed. All of my friends that dropped out of college while I stayed to get a dual Masters, all make more money than me!!! However, NOT for long!!! 🙌🏽🙏🏽
@ordinaryday753
@ordinaryday753 3 жыл бұрын
This show is definitely not for entrepreneurs.
@amazingafrica6965
@amazingafrica6965 3 жыл бұрын
I definitely agree with you!!!
@Easyfinesse
@Easyfinesse 3 жыл бұрын
Yup
@Eric_In_SF
@Eric_In_SF 3 жыл бұрын
It’s mostly about broke people that are in debt. And I hate that they’re giving such determined advice for something they don’t even know about. They don’t even know what Touro is there already poo-pooing it. These guys are basically just playing characters of them selves at this point
@giovanniperez2819
@giovanniperez2819 3 жыл бұрын
I think they make a good point. If someone’s already established, then yeah cut a check and start a Turo grind. For a college kid with little to no money though, it’s maybe not a good idea.
@B1GJOHNSTUD
@B1GJOHNSTUD 3 жыл бұрын
@@giovanniperez2819 agreed..he's better off getting a part time at mickey deez..
@yunngkhalifa
@yunngkhalifa 3 жыл бұрын
Starting a turo business would’ve made him enough money to payoff his college loans...especially if he had a good car fleet! They provide insurance for every little accident💯
@stephenwomack3776
@stephenwomack3776 3 жыл бұрын
its treating me well right now
@upperech3lon
@upperech3lon 3 жыл бұрын
he says pay yourself, but do it in the slowest most inefficient way possible? I don’t get it, starting my Turo business asap.
@yunngkhalifa
@yunngkhalifa 3 жыл бұрын
@@upperech3lon yessssirrrr
@rolandosantiago8045
@rolandosantiago8045 3 жыл бұрын
Turo is cash flowing pretty well right now...
@ninobtc9536
@ninobtc9536 3 жыл бұрын
Good car fleet . Needs a good commercial insurance. If I are thinking that turo insurance will cover any future damage. Good luck!!
@alexpolicarpo4344
@alexpolicarpo4344 3 жыл бұрын
This show is dream killer for entrepreneurs.! Remember Dave is old so his advice
@investingsouthflorida1131
@investingsouthflorida1131 2 жыл бұрын
I know
@mattrow9992
@mattrow9992 2 жыл бұрын
Don’t listen to these guys, they have no idea how much money you can make in Turo
@jayp7936
@jayp7936 2 жыл бұрын
Yes! Great mentality to have
@DoPeMaN60
@DoPeMaN60 2 жыл бұрын
As old as his advise
@LeroyGreenGlow
@LeroyGreenGlow 2 жыл бұрын
Facts
@ithegeneral106
@ithegeneral106 2 жыл бұрын
They say the fattest way to kill a dream is to tell someone about your dream!
@xm3ntal620
@xm3ntal620 Жыл бұрын
Good quote
@romyvasir9249
@romyvasir9249 Жыл бұрын
I wish I knew this 14 years ago. wasted 14 years of my life cus of this.
@johnPxIV
@johnPxIV Жыл бұрын
I'm learning this. These dudes don't even know what Turo is, what it can do, and the income potential.
@rickygodette
@rickygodette 2 жыл бұрын
Turo has its own insurance lol. Don’t give advice unless you know the subject
@jjhernandez5244
@jjhernandez5244 3 жыл бұрын
Dave is not for investors. Dave is for yourself. So, if you're a investor Dave is not for you.
@msenecal
@msenecal 2 жыл бұрын
True. Dave is a great help to get your head above water. Look elsewhere if you want to be an Olympic swimmer.
@m4nny98
@m4nny98 2 ай бұрын
@@msenecal perfect analogy. Most people do not even know how to swim.
@VincentDesiano
@VincentDesiano 2 жыл бұрын
I just started TURO & made $1,800 in the first month... Paying for the loan and then some. Don't agree with this advice.
@nickimarie4733
@nickimarie4733 2 жыл бұрын
Is it a brand new car ? You think I can use an old car for this ?
@threadoflife
@threadoflife 2 жыл бұрын
How much additional mileage per year and maintenance costs on your vehicle?
@VincentDesiano
@VincentDesiano 2 жыл бұрын
@@nickimarie4733 it was a 2020 Honda Accord. You want something that people know is reliable, easy to drive, good on gas.
@MyBigFatFairytaleWedding
@MyBigFatFairytaleWedding 2 жыл бұрын
Imagine calling the show in the 90s.... “Hey Dave, my neighbor Jeff wants me to partner with him on his business. It’s starting to get some traction!” Dave: “No. Lol.” “Okay, well, I know you didn’t ask but the business sells books online out of this dude’s garage.” Dave: “Let me tell you about air in your tires” ***20 years later*** “Wow, I really wish I had invested in that darn Amazon company. I’m so glad I didn’t take any risks though. 🙃 Who needs 50 billion dollars anyways.” *Sigh
@classicvlogs7910
@classicvlogs7910 Жыл бұрын
Yeah that’s exactly the same as buying a used car to make $33 a day on turo
@johnPxIV
@johnPxIV Жыл бұрын
@@classicvlogs7910 the right cars that are priced right rent for 22+ days a month.
@fleebertreatise1063
@fleebertreatise1063 5 ай бұрын
Yeah, that one guy selling books online, as opposed to those other 50,000 people selling books online that went nowhere
@mrdavidashley6892
@mrdavidashley6892 3 жыл бұрын
It's fascinating knowing what Toro has done for a lot of people, but then listening to them talk about it, watching their body language, watching the guy on the left try to agree with everything that they Ramsey saying, just so they can get through this segment. If you are an entrepreneur, you have to take chances. As long as you're doing your due diligence research wise, you should be okay but these guys aren't here to answer that specific question.
@jdgolden8082
@jdgolden8082 2 жыл бұрын
It's pretty sad. Pay all this money for an education and not try to find a side hustle to make money. You got to shoot your shot or you will never know!
@amieerothrock1839
@amieerothrock1839 11 ай бұрын
Worst experience ever. Their so called customer service if you rent your cars is non existent. I have 2 cars rented now and I may have to report them stolen and they don't care. Run!
@TortoiseCashFlow
@TortoiseCashFlow 7 ай бұрын
They just have a script they follow for every advice. Have any debt? Do not pursue anything except clearing that debt. It's rediculous.
@dr.boring7022
@dr.boring7022 25 күн бұрын
​@@amieerothrock1839 It's been 10 months, have the cars been found? Have you called the police?
@BULLETP808
@BULLETP808 3 жыл бұрын
This show is not for entrepreneur you all have to know that. Dave preaches baby steps for household making 50k a year to "retire" rich.
@montavio
@montavio 3 жыл бұрын
Dave preaches a good J.O.B. Journey of the broke
@samjordan8800
@samjordan8800 3 жыл бұрын
First time I heard it as a journey, LOL! I always thought it was. Just. Over. Broke. In either case, it sucks to be there!
@LeroyGreenGlow
@LeroyGreenGlow 2 жыл бұрын
Exactly
@SenorJuan2023
@SenorJuan2023 2 жыл бұрын
Dave's advice is only good for debt reduction, NOT business or real estate.
@mightyhealthy8227
@mightyhealthy8227 Жыл бұрын
Yup.... he's extreme but i like this advice..i take the good and filter out the bad. He def helped me create my healthy mindset when it comes to money but you can borrow a bit when it comes to business. You have to be logical
@djohnson-ku4cl
@djohnson-ku4cl Жыл бұрын
Well that’s because he did entrepreneurship and knew many others who did and says for the majority of people who get excited it’s almost always a bad idea.
@SenorJuan2023
@SenorJuan2023 Жыл бұрын
@@djohnson-ku4cl Simply because most people don't realize you will probably fail a few times first and it's a long term process.
@djohnson-ku4cl
@djohnson-ku4cl Жыл бұрын
@@SenorJuan2023 Of course! Dave does have well founded reasons for his perspective that was all I was intending to say. He was a real estate person. Your point is very valid! Personally, I'm entrepreneur and have done very well. I'm also a fan of Kiyosaki who emphasizes real estate, although real estate is not my thing, I like the mindset. And Mike Michaelowitz who is a fan of Dave Ramsey has some good books on entrepreneurship which are consistent with Dave's models. Mike shows you can use these models to make your business more successful and I have had great success with it and so have many followers of Mike. Anyway, you're absolutely right!
@traeberkeley3902
@traeberkeley3902 3 жыл бұрын
Dave's tire air business isn't that bad of an idea. He would've made money on "inflation"? Right? 🤣🤣🤣 lol
@mmcgahn5948
@mmcgahn5948 3 жыл бұрын
Funny
@rasheedadeoye70
@rasheedadeoye70 2 жыл бұрын
🤦🏾😂😂😂😂
@wynetter3083
@wynetter3083 2 жыл бұрын
Im so glad I read these comments im looking into getting into Turo and they almost killed that dream for me
@SweetEssie
@SweetEssie Жыл бұрын
Did you end up doing it? How is it going?
@ominous450
@ominous450 Жыл бұрын
Any updates?
@ceoneo7279
@ceoneo7279 3 жыл бұрын
How did I land on this dream killing page? 😂
@quirozj31
@quirozj31 3 жыл бұрын
🤣🤣🤣
@deborahblessed8541
@deborahblessed8541 3 жыл бұрын
😂😂😂😂
@youngnick1800
@youngnick1800 2 жыл бұрын
😂😂😂
@adrianasimmons1033
@adrianasimmons1033 Жыл бұрын
😂😂😂
@jamesrobinson2017
@jamesrobinson2017 3 жыл бұрын
Turo is a GREAT calculated risk.
@JJ-le5fe
@JJ-le5fe 3 жыл бұрын
Not true. It used to be. After their changes not any longer.
@MrOPM-vc6ow
@MrOPM-vc6ow 3 жыл бұрын
What changes?
@MrOPM-vc6ow
@MrOPM-vc6ow 3 жыл бұрын
@JamesLee
@youngrenzel1323
@youngrenzel1323 3 жыл бұрын
Here for when @JamesLee replies
@rasheedadeoye70
@rasheedadeoye70 2 жыл бұрын
@youngrenzel 😂😂😂
@livedaringly7915
@livedaringly7915 2 жыл бұрын
Dave’s show applies to personal finance, not for business. If you’re going into business as an entrepreneur, this advice doesn’t count for the business or entrepreneur part of your life. I do think he’s right about personal finances though. Stay out of personal debt, but go into debt on your business ventures- you can’t do business without debt- even Ramsey has to have debt involved in business
@MarikaTheEmpress
@MarikaTheEmpress 2 жыл бұрын
Agree 100%
@justinhc123
@justinhc123 2 жыл бұрын
You do not HAVE TO HAVE debt for your business. My small and super profitable business doesn’t. Dave Ramsey’s huge and profitable business does everything with cash. Who told you that?
@Staymadcompa
@Staymadcompa 2 жыл бұрын
Dave is a “Get Out Of Debt” Coach NOT A “Build Business & Get Wealthy /Rich” Coach. Let it sink in! If you’re in debt… listen to Ramsey. If you have a solid financial base listen to Bigger Pockets, Other Rental Businesses or Manufacturing business owners etc … We are here for the long run not instant gratification.
@MarkSmithhhh
@MarkSmithhhh 2 жыл бұрын
Exactly
@ambersodyssey
@ambersodyssey 2 жыл бұрын
Yep!
@jason41a
@jason41a 3 жыл бұрын
Caller: should i buy the car? Dave: sell the car. Caller: but.. i haven't even bought it yet. Dave: sell the car!
@e_rock_3149
@e_rock_3149 3 жыл бұрын
Short sell cars!
@bizomemez3557
@bizomemez3557 3 жыл бұрын
😂
@bamnmoneta6379
@bamnmoneta6379 2 жыл бұрын
@@e_rock_3149 😂😂
@annieruok505
@annieruok505 2 жыл бұрын
Wow glad I didn’t come across this page before I started my Turo business lol I wouldn’t have listened anyway😂 I have made so much money on this business model, sorry Dave but your advice is dated entrepreneurs do your own due diligence
@DonnealOffical
@DonnealOffical 2 жыл бұрын
What car do you have listed and how much do you charge daily ? I'm looking into listing mine I got an Audi A4
@wynetter3083
@wynetter3083 2 жыл бұрын
Are they right about the insurance going up is someone crashes your car???
@jodavi
@jodavi 2 жыл бұрын
He could of rented a car/cars and went to school at the same time… nothing like gaining experience and education at the same time!! Shouldn’t take advice from ppl who haven’t done what you want to do!!
@davidmartinez3723
@davidmartinez3723 3 жыл бұрын
Do it!!!!!! Turo is hot right now, best choice I made🙂
@stephenwomack3776
@stephenwomack3776 3 жыл бұрын
Turo will get nuts here really quickly! come check out how its treating me.
@gracea.2445
@gracea.2445 3 жыл бұрын
preach
@kadeemnunes3013
@kadeemnunes3013 3 жыл бұрын
What kind of car do you have listed on turo?
@PowAccidents
@PowAccidents 3 жыл бұрын
@@kadeemnunes3013 I list my Tesla and I make bank
@Sk8tieTv
@Sk8tieTv 3 жыл бұрын
@@PowAccidents how you got your Tesla ? What website & how much you spent on it & did you buy it or fiancé it ?
@rickygodette
@rickygodette 2 жыл бұрын
Why would you ask someone who doesn’t do Turo about Turo? Also why would he respond about a service about that he doesn’t know about? Insanity
@codeitraw5241
@codeitraw5241 3 жыл бұрын
Rent out your current car and just drive cheap cars or travel with trains or buses. Once that’s paid off, get a new car and do that over and over again. Pretty soon you would’ve owned a fleet of rental business of your own.
@folembelieve9781
@folembelieve9781 2 жыл бұрын
But where do you park your cars I live in New York
@RudeBoiiSnapz
@RudeBoiiSnapz 2 жыл бұрын
@@folembelieve9781 move somewhere else bud
@folembelieve9781
@folembelieve9781 2 жыл бұрын
@@RudeBoiiSnapz why
@desireeangelicmelodies8709
@desireeangelicmelodies8709 2 жыл бұрын
😂😂
@abnormal_deformables5707
@abnormal_deformables5707 3 жыл бұрын
Man this guy is literally out telling people how to get a job, go to school avoid debt and avoid fun
@grocerysmart
@grocerysmart 3 жыл бұрын
Pay cash yes, but a turo car is a business. If you pay cash and it gets totaled your cash is gone. If you finance it, and it gets totaled the loan gets satisfied.
@jamersonsavant8954
@jamersonsavant8954 3 жыл бұрын
Your cash is not gone if you have good insurance.
@BPoweredLove
@BPoweredLove 3 жыл бұрын
Why would your cash be gone if it gets totaled? You and 24 other people liking your comment don't understand how it works. "Total" means the insurance company considers it a total loss not worth repair and thus pays the owner the fair value of the car. This is irrespective of whether your financed the car (owe a note) or it's paid for in full.
@Sophia-cy5pm
@Sophia-cy5pm 2 жыл бұрын
My car was totaled and insurance gave me money for what the going rate was for that same make,model, mileage car. People have insurance for a reason….
@Boomsz123
@Boomsz123 2 жыл бұрын
Gap insurance ftw
@desireeangelicmelodies8709
@desireeangelicmelodies8709 2 жыл бұрын
This is not true depending on what insurance you have. Lol I work on total loss claims all day. People who own vehicles do get cash back where as if you have a loan and it doesn’t get satisfied fully you still owe and your worse off unless you have GAP!
@sammysmith573
@sammysmith573 3 жыл бұрын
People still looking for advice from Dave!? 😑🤣🤣
@hnorberto
@hnorberto 5 ай бұрын
Dave is a market and business genius. I can totally see Dave saying I started selling air believe it or not.I thought it’d make me rich while other people said it was a dumb idea. And God protected me from those people and kept me going that route. Now today I own service stations and gas stations all over the country; and guess what they all have…. A machine that sells air. Until the day having air in your car tires goes out of fashion, I’ll be making money of those machines. And get this, the first machine I ever bought; still makes me money to this day. It ought selling air would make me rich and it freaking did. Why is Dave so adamant stopping people from innovating, and thinking outside the box.
@JD-lb8np
@JD-lb8np Жыл бұрын
What if you buy a 5-7k car in cash that meets turo requirements, then rent it out on turo?
@caseyswann1389
@caseyswann1389 3 жыл бұрын
Dave will always say no when it’s debt. Debt creates wealth
@saraioyervides
@saraioyervides 2 жыл бұрын
Yessir! Put yourself in good debt not bad debt.
@4ReelTho
@4ReelTho 3 жыл бұрын
These guys are soooo uneducated on today's opportunities. Student debt is the worst thing to accumulate 😂
@carworld1089
@carworld1089 2 жыл бұрын
Agreed 💯
@Easyfinesse
@Easyfinesse 3 жыл бұрын
This show isn’t for the risk takers
@BPoweredLove
@BPoweredLove 3 жыл бұрын
Guys, tell me if I have this right. So bc Dave also had an idea while he was in college that he re-thought before pulling the trigger and today believes that was a good idea, then anybody in college who has a side business idea would also be making a mistake? Without hearing the numbers? Without any consideration that borrowing money can, if done correctly, be _leverage_ to create the capital needed? They didn't even ask the kid if and what the numbers were. All Dave kept talking about is "eye on the ball". Sheesh...
@eliot5220
@eliot5220 2 жыл бұрын
Right I agree, the answer is in the numbers. So far I’m looking at Turo but the numbers don’t look good for me. Only because I can do other things that pay better. But imagine if they told Zuckerberg to focus on finishing school.
@jay3boogie728
@jay3boogie728 2 жыл бұрын
I’m hearing people say Dave is not for entrepreneurs and I disagree. In the video it is clear they are saying pay off your loans and invest in yourself first. He’s saying don’t do it yet.
@laconcry
@laconcry 2 жыл бұрын
Turo would’ve helped him payoff his loan. Easily
@edventures9884
@edventures9884 2 жыл бұрын
Starting turo for him in college would’ve been perfect since his parents are paying half of his schooling.. yes he has student loans but this car could’ve made him and extra $5-$20k/year who knows.. depends on where he lives and yeah the car can be wrecked but cars are insured when you rent them out on the Turo platform.. missed opportunity and it seems like if he didn’t do it this business would be stuck in his mind till the day he actually goes trough with it and try’s it on his own . I really hope he didn’t take their advice
@johnPxIV
@johnPxIV Жыл бұрын
Exactly. This kid could get a real world education on how to become a millionaire.... or at least make a lot of money while being able to study.
@waitaminute2015
@waitaminute2015 Жыл бұрын
It's more the wear and tear of the car. Conventional rentals don't last too long. He might quicken the death of the car for little profit and then need a new car again.
@elirez8418
@elirez8418 2 жыл бұрын
Zack, I hope you didn't listen to these guys. I'm sure they have good advice in other areas, but not this time. Zack, go for it.
@-_______________________.___
@-_______________________.___ 2 жыл бұрын
5:04 Look at the diecast "Dollar" car in the background. Of course her is against Turo. Turo is Dollar, Thrifty, Hertz, and enterprise's biggest competitor.
@jetskill99
@jetskill99 2 жыл бұрын
Wow
@kendavis9218
@kendavis9218 Жыл бұрын
When you’re looking to do anything, JUST DO IT! Stop listening to people who’s life does not mirror yours.
@justcuzitsepic5874
@justcuzitsepic5874 Ай бұрын
The advice is to be reasonable with portfolio management. When you have a loan of 5k and more already in the picture with school being not finished yet, you'd need Time and money to manage that other activity.
@Ewalk.213
@Ewalk.213 2 жыл бұрын
But if he said "I'm gonna get a full time job to pay for college" would that not "take his eye off the prize" ?? Dave would have LOVED that idea, just don't start a business you have to invest in 🤦🏾‍♂️ Love you Dave but I just can't get with SOME of your beliefs
@investingsouthflorida1131
@investingsouthflorida1131 2 жыл бұрын
Just bought a van for Turo today
@iwasthere1961
@iwasthere1961 3 жыл бұрын
Turo renters destroyed my car and guess what no one wanted to pay for the damage.
@justshady
@justshady 3 жыл бұрын
@@saulgoodman2018 Not mechanic damage
@Argedis
@Argedis 3 жыл бұрын
Do you mind sharing what exactly happened?
@Argedis
@Argedis 3 жыл бұрын
@@saulgoodman2018 They don't cover mechanical damage. If the renter abused the car and blew up the engine or transmission Turo won't pay for it. Only when there is a wreck and a police report.
@nczioox1116
@nczioox1116 3 жыл бұрын
@@saulgoodman2018 ita gets abused constantly everytime which adds up quick. Its not a one time event
@nczioox1116
@nczioox1116 3 жыл бұрын
@@saulgoodman2018 thats just being realistic. And they cover repairs for collisions, not maintenance
@robmas2222
@robmas2222 2 жыл бұрын
Listen to these guys and stay broke...LOL
@Tenacitae
@Tenacitae 3 жыл бұрын
This kid doesn’t even realize Turo’s not even legal in NYC.
@Tenacitae
@Tenacitae 3 жыл бұрын
@@NevyZine you need jersey license to get jersey plates
@97I30T
@97I30T 3 жыл бұрын
@@Tenacitae Perhaps his parents live in New Jersey and since he's still technically a dependent to his parents he also has residency in New Jersey. When I left for college I kept my residency in my home state.
@stephenwomack3776
@stephenwomack3776 3 жыл бұрын
Ha 100% but for the rest of the states its Fire right now
@googledroid9848
@googledroid9848 3 жыл бұрын
JurrZee
@DJ11213
@DJ11213 3 жыл бұрын
😨😭😭😭😭😭 and here I am thinking of starting Turo in nyc. I really need to leave this city
@MR3DDev
@MR3DDev 3 жыл бұрын
Is not a great idea. Turo is not like Airbnb, you will have to disclose you are using your car for business and your insurance will go through the roof, not to mention repairs.
@JiisTube
@JiisTube 3 жыл бұрын
No, your personal insurance is separate. Turo has its own collision/comprehensive/fire/theft policy for your car that you pay for automatically out of your rental income. It's a very high value policy and they pay very quickly with great service. If they didn't have a good policy they'd be out of business already. As for maintenance and repairs, yup, that comes with the territory of renting something.
@BobbyG3.14
@BobbyG3.14 3 жыл бұрын
@@JiisTube I’ve heard the opposite, that they deny claims for silly or frivolous reason
@robertheadley3483
@robertheadley3483 2 жыл бұрын
Also real estate appreciates while cars depreciate. Location seems to be the biggest factor in whether this is successful as well. I've looked at some of these and the prices are so low that its seemingly not even covering the depreciation that is likely being done to the car.
@inclusivelove5165
@inclusivelove5165 2 жыл бұрын
These guys are like my cousins. The years I listen to them I was a nobody. Now I live in another country for 20 years far far away from them. I am much much better this way.
@ngahnkarakwi4799
@ngahnkarakwi4799 Ай бұрын
If you’re not sure about the business don’t advise about it or act as if you have all the answers all the time . That’s not a bad business for him . Turo covers the car when the client wrecks it , he gets a car and never has to pay for it, what ever extra is he’s to keep .. and a good way for him to learn entrepreneurial skills . There’s no easy business out there
@mrweddingspeech151
@mrweddingspeech151 5 ай бұрын
I did my hard research just recently and for most areas it is not really profitable. What is happening is that there is so much competition - the smaller fleets and owners of one or two cars are lowering their price/day just to GET BY and pay their loan and other expenses. They do not care about profit at this time. So there is a price war to the downside. This in turn is causing the larger fleets to do the same... in fact, a lot of mid-large fleet owners are SELLING their fleet to bring in income and to get out of the business!! According to the numbers of my local area - owners of 6 - 9 vehicles are only doing about $80 per month/vehicle @ average of 4 days rented ... to $118 / month / vehicle @ average of 6 days rented on the lower end. On the higher end; $509/month per vehicle @ avg of 4 days rented ... to $763/month per vehicle @ avg of 6 days rented. Remember, those are GROSS figures not NET - you still need to include cost of maintenance, gas, cleaning, repairs, insurance, parking, etc., which is about 67.5% of GROSS. Now, do the math...
@jetskill99
@jetskill99 Жыл бұрын
The dollar rent a car ad in the background
@tradinglikeamillionaire4312
@tradinglikeamillionaire4312 2 жыл бұрын
Dave is making millions off of entrepreneurial coaching, books, and advice lol…. But his advice to entrepreneurs is not to motivating lol
@dalyo96
@dalyo96 3 жыл бұрын
The abuse rental cars get and the upkeep would be a nightmare
@JJ-le5fe
@JJ-le5fe 3 жыл бұрын
It aboslutely is
@KayGee_yt
@KayGee_yt 2 жыл бұрын
Okaaayyyyy.......What if you don't have loans? (Also, maybe I'm reaching but it seems a little silly to keep waiting to try to make money. "finish school first, get out of debt first, save 10k first, max your 401k first, buy a house in cash for your family first" when does it end?)
@AjSimmonsOnline
@AjSimmonsOnline 2 жыл бұрын
💯 no you're not reaching you're right. Get the bag first and worry about all that later
@haywoodbookings
@haywoodbookings 2 жыл бұрын
No risk, no reward
@CaseyBurnsInvesting
@CaseyBurnsInvesting 3 жыл бұрын
People make good money running a business on Turo but it’s risky to take out debt to start a business.
@thescoobmeisterm
@thescoobmeisterm 2 жыл бұрын
Such bad advice. The only thing they said that was right was buy cash cars. But that’s if you can. I have built a successful fleet starting with a 2016 used car on a loan. Now I take the extra money to buy cash cars.
@bradleybrown2417
@bradleybrown2417 3 жыл бұрын
In the early 90's I wanted to invest in payphones.😁 Look at how that would've worked out.
@dearickslife1257
@dearickslife1257 2 жыл бұрын
😂😂😂😂
@desireeangelicmelodies8709
@desireeangelicmelodies8709 2 жыл бұрын
Lmbo
@yllegacytv6593
@yllegacytv6593 2 жыл бұрын
There would be no America without entrepreneurship!
@tomtensecretlanguage9273
@tomtensecretlanguage9273 3 жыл бұрын
AON like all these other "personalities" bring nothing to the table, they just mumble Dave's teachings. Dave is trying to leave a legacy for his kids but the Ramsey show will die without Dave. Dave is the JUICE!
@alaskanawesomeness9017
@alaskanawesomeness9017 2 жыл бұрын
This is so stupid. If he can make money with it he can them put it towards school. I can't stand these guys.
@lunargoddess2002
@lunargoddess2002 4 ай бұрын
I feel like Dave knows zero about Turo. Turo covers accidents and there are insurance companies that do cover peer to peer vehicles.
@gerardopliego-financevideo8214
@gerardopliego-financevideo8214 3 жыл бұрын
If done right it can be profitable, i know someone who makes a living doing this in the Bay Area .
@tweedle634
@tweedle634 3 жыл бұрын
same here just not in the Bay Area. He had about 100k in start up capital. He bought 10 2-3 year old toyota corollas. Now he's into luxury cars. Pretty good gig.
@blackworldtraveler3711
@blackworldtraveler3711 3 жыл бұрын
Seem worse than a full time job.
@stephenwomack3776
@stephenwomack3776 3 жыл бұрын
Very possible to have a good side gig with this
@Don4L_
@Don4L_ 3 жыл бұрын
@@blackworldtraveler3711 how so
@deepsoul3256
@deepsoul3256 3 ай бұрын
The car pays for itself! Trust me!
@RJRussoVids
@RJRussoVids 3 жыл бұрын
Peer-to-peer car rental. What could possibly go wrong? 😂
@AR-me9jy
@AR-me9jy 3 жыл бұрын
Good one hahhahaha
@AR-me9jy
@AR-me9jy 3 жыл бұрын
And I have 17 Bugatti’s on there for rent at 17 bucks a day
@mansajoka5390
@mansajoka5390 2 жыл бұрын
Honestly once he starts a fleet of cars I’d say forget college I mean their argument is finish school but yea that’s tile he’s losing
@sarahanderson6913
@sarahanderson6913 2 жыл бұрын
Location matters A TON when it comes to rental businesses.
@LetsTalkPersonalFinance
@LetsTalkPersonalFinance 3 жыл бұрын
Dave is obviously going to say no
@SenorJuan2023
@SenorJuan2023 2 жыл бұрын
WRONG, like I knew they would be. The student is NOT buying a car for personal use, but to CASH FLOW.
@izzyp8784
@izzyp8784 3 жыл бұрын
There are bad stories about this program with people destroying the cars, pets, smoking and drinking. People do not take care of other peoples things. It’s an expense you have to consider with having to detail the car after every use.
@JasonFlorida
@JasonFlorida 2 жыл бұрын
Very good advice... much better than just beans and rice. Hahaha
@BLACKOUT592
@BLACKOUT592 2 ай бұрын
We get it’s a mistake when you have college loans but what about shining light on situations where you don’t have college debt and are looking into the Turo business
@mannamedbanjo
@mannamedbanjo 2 жыл бұрын
I think the main issue is that the car needs to be bought in cash.
@TortoiseCashFlow
@TortoiseCashFlow 7 ай бұрын
If your calling dave ramsey asking if you should start a business then no you should not lol.
@dangelowilson2475
@dangelowilson2475 2 жыл бұрын
Not what Rich Dad would say.
@diazalex5314
@diazalex5314 Жыл бұрын
Financing it with student loan is the worst decision. Any other type of debt should be fine if you did the number.
@CarburetedKilos
@CarburetedKilos 2 жыл бұрын
This was not about Turo at all. Don’t waste your time if you’re interested in researching Turo.
@lunargoddess2002
@lunargoddess2002 4 ай бұрын
I think he should look at risk versus benefit. You will make money. Plenty of people finance low cost cars and pay them off Quickly. It’s passive income.
@Sheready230
@Sheready230 6 ай бұрын
If you never take a step in your future you will regret it. Step out on faith brother. You never know. Like Nike say “just do it”
@joshuajack216
@joshuajack216 2 жыл бұрын
Bad advice. I have two cars on Turo, they pay for themselves and pay our personal car + more cash every month. Follow Rich Dad and use OPM to cash flow.
@antareschen4451
@antareschen4451 2 жыл бұрын
How are those people qualified themselves as financial advisors?
@serenawood6991
@serenawood6991 6 ай бұрын
This doesn't make a lot of sense to me. As long as it cashflows more than ALL the expenses, than it makes sense. The more cars the better! 😅
@christopherthoni187
@christopherthoni187 2 жыл бұрын
if i already have a car? and just working to pay it off? would it be a good idea to rent it out.
@rickygodette
@rickygodette 2 жыл бұрын
This is the same guy that said a car warranty was bad. He obviously doesn’t own a Range Rover lol
@rodjilius
@rodjilius Жыл бұрын
I'm looking into buying a 2nd car for Turo as we speak lol
@poker_18rs92
@poker_18rs92 5 ай бұрын
What about when the person that rent your car gets into an accident? Because that’s going to happen at some point.
@Overland__AI
@Overland__AI 2 жыл бұрын
This is such bad advice! He could “cash flow” his college experience with a Turo business! Better Dave-friendly advice would be buy cash for a car and get the money from that. Reinvest in another car. Build a fleet that CAN PAY FOR COLLEGE!!!
@ChinoEEE
@ChinoEEE 2 жыл бұрын
They literally just killed this mans ambition
@peerlincinc.1951
@peerlincinc.1951 3 жыл бұрын
they are so not knowledgeable on this topic, just stop.
@projectdan3369
@projectdan3369 2 ай бұрын
Tell me how I was putting air in my tire as Dave literally said about the air machine 😳😳😳
@craigt2003
@craigt2003 4 ай бұрын
Dave calling Turo "some stupid app" without even knowing anything about it. That should be a green flag for anyone interested in doing this to go full speed ahead (do the opposite of what dave says and you'll be successful most of the time)
@freddykrueger8759
@freddykrueger8759 3 жыл бұрын
Find out what cars are hot and get a used car and put it on turo...worst case scenario the car will pay its self off🍎🇺🇸❤🇸🇦🇮🇱🇮🇶🇮🇳
@jykirachanelle2599
@jykirachanelle2599 3 жыл бұрын
how?
@BPoweredLove
@BPoweredLove 3 жыл бұрын
@@jykirachanelle2599 How? Because you generate rental income by renting it out which should more than offset your expenses. Not to be rude, but the answer is so obvious that I assume you didn't really mean to ask "how" so what are you really asking?
@BlackRoseFamily
@BlackRoseFamily Жыл бұрын
ALSO: Some horror CONS include: 1.) Guest treat your car like trash 2.) they let random ppl drive it (no insurance will cover if they are not the renter) 3.) Personal insurance will not cover if the car is damaged lost or stolen 4.) Turo will not give you a rental car during repairs unless you gave turo 40% of your profits (60% plan) 5.) You forfeit the right to sue the guest if you agree to Turo terms of service. Think twice before using turo!!! They are a horrible platform, back to normal rental or just google a rental car place…
@ajtolliver4600
@ajtolliver4600 2 жыл бұрын
I rent a car on turo and have made great money.
@neilopfer5687
@neilopfer5687 3 жыл бұрын
With Turo you are competing with numerous individuals out there who are renting out their cars below cost if one looks at all costs (depreciation, insurance, maintenance, etc.). As noted below, many renters do not treat cars very well at all. The large rental-car firms can amortize bad renters over a large number of rentals. You cannot. But best tip was from this Show in that the best investment you can make is in yourself with your education. That is, of course, if the education will get you into a better-paying job. Many, many firms want to hire college graduates because they are simply better rounded than non-college educated individuals on average.
@thebigmanshow3145
@thebigmanshow3145 3 жыл бұрын
Got my new apartment 🏠 after making so much deals with Megestaypaid on Te!egram thank you sir
@97I30T
@97I30T 3 жыл бұрын
More than anything a college degree shows employers that you have discipline, time management skills, and can set long term goals and reach them. That is one reason why people who have college degrees are typically more desirable to most employers.
@neilopfer5687
@neilopfer5687 3 жыл бұрын
@@97I30T Definitely agree!!
@viktrancestudio6398
@viktrancestudio6398 2 ай бұрын
calling the wrong person
@sportsbettingeducation
@sportsbettingeducation 3 жыл бұрын
This might be the worst advice I’ve ever heard.
@montavio
@montavio 3 жыл бұрын
They have 0$ insurance deductible you get 60% of the daily rate
@ledeves5160
@ledeves5160 3 жыл бұрын
70% *
@SupremeChief1
@SupremeChief1 3 жыл бұрын
I think u get 70% and if you have more trips and reviews with close to a 5 star. Then you get 85% lol which is not bad
@charliethomas3214
@charliethomas3214 3 жыл бұрын
I want to do Turo don’t know how, ig me Cjcsws
@montavio
@montavio 3 жыл бұрын
@@ledeves5160 no its 60% not 70% if you want a 0 deductible
@montavio
@montavio 3 жыл бұрын
@@SupremeChief1 you can pick your percentage I choose 60% because it offers the most protection in the event of an accident with $0 deductible
@hammerzonemedia7829
@hammerzonemedia7829 2 жыл бұрын
🤦🏻‍♂️ probably will never watch this show again.
@4ReelTho
@4ReelTho 3 жыл бұрын
This is misleading content 😂
@makoa143ify
@makoa143ify 3 жыл бұрын
Depends on your location. If you are in Hawaii, yes!!! 😁
@Platelunchexpress
@Platelunchexpress 3 жыл бұрын
I’m In Hawaii and then starting to get slow
@makoa143ify
@makoa143ify 3 жыл бұрын
@@Platelunchexpress Ive been busy.
@Platelunchexpress
@Platelunchexpress 3 жыл бұрын
@@makoa143ify me to, but no bookings after September, I’m on Oahu
@makoa143ify
@makoa143ify 3 жыл бұрын
@@Platelunchexpress oh wow, I got bookings all the way till December.
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