STARTING A TURO BUSINESS IN 2023/ HOW TO GET AHEAD

[@robbydragi]

Been doing Turo for over a year and I never thought to advertise to local dealerships and repair shops. Took your advice and printed business cards with QR code linking to my Turo vehicle page. Great idea, thank you so much.

[@Fornwith]

No skin in the game. Just casually looking for side hustles. Very informative and appreciate all the info. Mahalo from Hawaii.

[@JNguyen07Max]

So far ive watched about a dozen of your videos. You're the only Turo youtube that puts out these incredible helpful information to beginners like us FOR FREE. Unlike these other greedy Turo youtubers out here. Thank you so much. Congratulations on 20k+ subscribers and I wish you the best on your business. Don't ever stop.

[@JNguyen07Max]

KZbinr*

[@StefanMarquardt]

Thanks for the comment, makes it worth the hours it takes to make these videos 🙏🏼

[@greatestever495]

Yeah bro thank u so much. May Allah Bring blessings to you and your family.

[@ashleerose7662]

I just bought a used car to put on turo in the Detroit market. It gets delivered tomorrow and I’m excited to go on this journey 🤩

[@lavishhairandmoree]

Any updates?

[@ashleerose7662]

@@lavishhairandmoree I’m surprised that it’s going really well. I got it listed Feb 1 and it has been rented for 14 of the 19 days in February so far. I have broke even on the car note and the rest of the month is profit.

[@lavishhairandmoree]

@@ashleerose7662 Congrats! 💕

[@quarrel05]

What make and model 🎉I’m looking to start here in Cleveland

[@prettypenni7448]

Mine just came back. It's SOOO much fun, you'll love it. Congratulations on your 'New Bae' (it's gonna make money like a Bae lol) & welcome to Turo🙏🏿❤️

[@JoeHernandezOfficial]

I like how you mentioned the fact that tools that worked in the past have to evolve with time or go obsolete. All successful businesses have a research and development team because they acknowledge that businesses have to evolve as the market evolves.

[@sxlvris]

Been trying to get into the car rental business for about a year now just been building my LLC and studying about the market and the business. This is one of the most realistic and informative videos out there and I appreciate the information

[@StefanMarquardt]

Thank you 🙏🏼 best of luck on your journey

[@jonathanm5202]

What you mean building your llc ?

[@sxlvris]

@@jonathanm5202 started my llc for car rental two years ago. Got a business phone number, email, address and started building business credit

[@StefanMarquardt]

Iam guessing he means building the business credit. There’s still no reason to wait, just Personal guarantee unless your personal credit is shot….in that case he should be building out personal credit instead.

[@jonathanm5202]

@@StefanMarquardt how about if it’s my first time applying for bussiness credit card what’s a good one with no Apr first year or 2. My personal credit is about 700

[@DrumNBassKidd1]

You have been one of the few KZbinrs that actually gives real insight into the world and down to earth advice. Thank you for that, please never change.

[@GIGIM01]

Easy sub, someone who knows their ish & doesn’t beat around the bush. Aspiring host here & I appreciate the knowledge!

[@CarSharingJho]

It baffles me that there are "gurus" out there actively promoting unexperienced hosts to take out 15-20 car loans, especially in the environment we are in.

[@StefanMarquardt]

I know!! It’s crazy!! And people actually go an do it 🤯

[@sneakerstalkin]

Yes people do it cause it works. Cash cars requires capital… capital requirements time and energy. Alsoyour in debt regardless 😂 you rather be in debt using your own savings rather than a banks money? You can get a loan easily. A 15k-20k loans is nothing 😂 you will definitely make profit and build your credit - snowballing your growth. Play it safe I guess but nobody wants to rent cash cars, they rent cause it’s affordable not desirable.

[@StefanMarquardt]

@@sneakerstalkin it works for some, but the ones it doesn’t work for…they have to drop the price so low just to make the payments, that they are essentially working for free for a depreciating asset. I would rather use investment capital, not necessarily money in my savings account.

[@kennybrown931]

@@StefanMarquardt Right now I have 2 mini coopers on Turo but I’d like to buy 3 more cars before the summer.

[@issamo4660]

@@kennybrown931what city did u start in?

[@TonyLuxuryCars]

Great video, everything you said is accurate and true, nothing but facts! Fellow Turo host myself here in Louisville, Ky. I have 17 cars fleet, all my cars are financed, I make over $300,000 a year! I would love to network with you and do an interview or something, I'm also a full time entrepreneur, hustler, youtuber, Turo, Airbnb, and also offer 1 on 1 consultation!

[@CeoCee11]

i have 10 in atl

[@TonyLuxuryCars]

@@CeoCee11 Nice!

[@CeoCee11]

@@TonyLuxuryCars hey man if you’re ever looking for some exposure in atlanta let me know

[@CeoCee11]

@@TonyLuxuryCars nice fleet btw i checked you out

[@TonyLuxuryCars]

@@CeoCee11 thank you!

[@Peterpaulmuzik]

Brother thank you for keeping it real no gimmicks for views 💪🏼

[@hichamforu]

Very informative video. God bless your heart brother. I bought my first car to start my car rental business and I learned a lot from you 👍🙏

[@samd2865]

I'm a financial investor, Interested in generating side income such as Turo. This is extremely helpful. Ty sir.

[@YupStephDoesIt]

I focus on cash economy cars. It’s been working for me. I agree, knowing when and what to buy based on your area. I solely use Hyre Car as of now.

[@NiOko2013]

You use Hyrecar instead of Turo? What difference have you seen?

[@YupStephDoesIt]

@@NiOko2013 Yes. I can only speak on the hosting side of Hyre Car. I only rented on the Turo Platform. I had some hiccups with my first reservation. Loss about $300 but could have been prevented if I picked up my car after it being late for 2 days. Everyone after that paid on time, kept my car clean, picked up, and returned my car the way they got it. I made back my investment within the first year and now selling it to my last renter for close to the purchase price. My experience has been worth it with Hyre Car. I learned how to handle insurance claims off the platform after researching forums about other people's experiences handling insurance claims with Hyre Car and everything has worked out for me & my customers/buyer(s). I learned how to accept and take losses and learn from them.

[@tchims9103]

Curious, about how Turo hosts are managing the storage of their fleet vehicles. Thank you!

[@everythingthatspeggy-nikki2962]

One of the best video on turo rentals.

[@joelmartinez8254]

Big respect Hermano!! I just met a Turo Fleet owner and I am digging the business model. As a Uber driver I can see the pros of building a fleet. I appreciate your transparency and look forward to learning more!!

[@lmw2023]

Interested to hear how your expereinces using Turo and Uber compare. I do a few side hustles including Turo and each come with their pros and cons

[@BradKwfc]

First time Turo user. I rented a Tesla Model Y today for 2 days 400 mile for $216. There's one guy in my area that has 100 cars in Turo. I didn't rent from him though, I got the model Y on a 3 hour notice.

[@nanapearlpearl2696]

Wow

[@lang409]

"Fear or greed" - Stefan juss dropping some truth. Love it!

[@StefanMarquardt]

🙏🏼

[@PurpleDiva601]

I'm considering the business. Your video confirms what I was thinking as far as financing and monthly debt threshold. Thank you for sharing!

[@francescodenegri2595]

Hello Stefan. I gotta tell you, this video is a diamond in the rough! Appreciate all this helpful info. I have been wanting to jump into the Turo host game for a couple weeks now. I have been doing some extensive research in my local market, and in general. I know you said that starting with a luxury / sports car, let alone financing, MAY NOT be the best option in terms of profitability for first time hosts. But in my specific situation, I have a full-time remote job where I am able to afford to pay for as much as I am comfortable with for this side hustle. In my local market, I haven't seen any, if not just one or maybe two of a specific make and model I have been eyeing for the past 2 weeks and feel like it could have great potential for higher propensity of reservations, due to the low supply and somewhat high demand, seeing that it's not as readily available here in my local market. I have excellent, if not perfect credit, and I am pre-qualifying for pretty attractive APR's with some banks. Given the uncertainty of the current market, and banks and dealers attracting qualified buyers to make deals to make money during these slow times, and considering that people do not want to buy any vehicle with extremely high APR's for any time soon, do you think starting with a financed luxury / sports car is more of a calculated and moderate risk? I mean isn't there higher competition with other Host's with more easily accessible vehicles? I appreciate your insight and you gained a new subscriber! Keep killing it bro!

[@StefanMarquardt]

There is more competition in the economy niche true, but there are also a lot more customers/renters who need these vehicles. It sounds like your situation might be an an exception to this rule. If you have the reserves to support it then that’s fine.

[@kofimingo4264]

Thanks Stefan for keeping it real, no hype just the facts

[@DamonikeEvans]

It definitely depends on area. I am from and stay in Atlanta ( fairburn ) and I feel this is a better state and area for economy cars more so than luxury if you would like to stay booked. I will be purchasing my cash investment car very soon. I will crawl before I walk in this business and one day I’ll be able to get better financing cars. I’m not trying to be in a chokehold. Thanks for the breakdown.

[@Smokeyfilms_]

I love how you give away all this advice man I appreciate it so much and understand how much work you put into it. Thank you for being you man

[@Tracklyfe_T]

I was trying to rent a regular compact car the other day on Turo. After all the fees and etc it was pretty expensive. I ended up going through enterprise and was suprised on how cheaper it was then going through turo. The Market has definitely changed.

[@bebiswhale]

well also depends on the plans you select as a guest or the type of car youre renting. theres pros and cons to turo just like there are pros and cons with airbnb and hotels. its all personal preference and deciding whats more important for the individual and the type of experience they want and trust

[@StefanMarquardt]

Some people still aren’t approved to rent at traditional rental companies and some are willing to pay more for a more convenient way to rent. I stopped asking “why”…..if someone wants to rent out my 2012 for $200 a week, who am I to object 😅

[@4XGOTSTICKS]

Interesting Turo is 95% cheaper in all my cases. You must’ve tried to get a nicer car or something.

[@timbaland952]

Had the complete opposite experience recently. First time using Turo and I got a 2018 Chrysler 300 s for the same price as economy sedans from Enterprise. Easy decision

[@illuminatigbeats1397]

in my city, enterprise wants a $300 deposit and then full trip cost and deposit comes back after i return the car. so i might come out of $500 for 5-7 days upfront. on turo it'll be my cost per day plus the trip fees and nothing back at the end lol depends on what your finances lookin like

[@matthewbenz693]

I appreciate your real life advice especially around fiscal responsibility and realistic expectations

[@StefanMarquardt]

Thanks for watching 🙏🏼

[@EDMLex]

You’re amazing thank you for posting this !

[@raymondedwards7381]

This my first time on your channel and my first video. You’re clearly well educated in what your teaching and I appreciate the tips and the confidence you convey them with. Awesome!

[@StefanMarquardt]

Thanks for watching and commenting!!

[@mattsiegel1446]

Solid video thank you. Rented my first turo this weekend and it was easy and got me into the car I wanted to demo. Now I wondering if I can benefit renting out some vehicles

[@CedricCharles-z5u]

Also depends heavily on where you are located. A lower price (within reason) for a nicer car is a smart marketing tactic because with that combination, your vehicle might get even more attention and more renters so more money in the long run compared to if you put a SLK on and set it at $200 a day, not a lot of people would rent that.

[@deadcell1]

You forgot that if you lower the price you also get a lower quality renter who is likely to trash or damage your vehicle.

[@edgarvale8178]

Excellent advice! I am about to start Turo and research is a most in every business.

[@HoneyDooDoo]

I’m seeing a ton of teslas in Riverside, ca going for under $50/day. Insane

[@Midwestplayers]

It could be that car is paid off and they have very low expenses or it could be they aren’t in the business to make a profit but instead they jus want their cost to be covered and they drive a free car 🤷🏽

[@corycooper991]

much respect for your info. You know the game and I appreciate that you are sharing your experience with others.

[@silasferreira9647]

He is back ! I was missing your videos buddy . Best content !

[@StefanMarquardt]

Thanks for the support bro 🙏🏼 gonna give this KZbin thing a nice push this year.

[@silasferreira9647]

@@StefanMarquardt you do good man keep going. Other people do not talk the reality you do.

[@lilianojoko4437]

I just stumbled on your video this morning and I found it very informative. New subscriber 😊

[@StefanMarquardt]

Much appreciated 🙏🏼

[@ducks1089]

Thank you bro. I have extra income that I’m gonna use to invest into starting Turo. I’m 24 have no major personal expenses. Let’s see how it goes.

[@ducks1089]

I’m in San Antonio Texas.

[@jorgerivera8933]

Great video. A lot of very relevant information. Will be digging into the rest of your content for additional tips and things to consider.

[@A.R.Hustle]

My wife and I just listed our first car yesterday. It's a 2011 Camry. Today we went and bought a minivan. Both cash. I was going to start this business with my 2012 Mustang GT/ CS but the daily amount for the mustang wouldn't have been worth it. So i sold my mustang to Carvana and with the cash I got Im buying 2 economy cars and a minivan. So 1 more to go but I'm actually under budget by a few thousand so I'm hoping for the best and learning as much as I could. Great videos

[@markgreiss3102]

Let us know how it goes ? Wish u the best

[@TacticalRN]

Great break down, appreciate all the info

[@LennyTim]

Thanks. This is not a bad business. There are a lot of other equipment rental businesses to get into as well. However, I think the goal should be to start your own business and not work with Turo long-term as they take a big cut and their prices are low.

[@SkiiMaskE]

This video helped a lot. Thank you seriously I'm excited.

[@StefanMarquardt]

Thanks for watching 🙏🏼

[@cbone1985]

Great video, i have an extra car that is paid off and just sits. I drive it to work a few times a week just to keep it moving. Id like to test out the turo market but i just cant get over this mental hurdle of giving my car to a stranger lol.

[@willstamps5641]

don’t rent it if you have an emotional attachment to it, otherwise let insurance deal with it if it gets torn up

[@Bam-d4x]

this was very informative as i am looking for some each income, alot of what you said makes great business sense , especially buying cash cars thanks alot

[@kylestricklin3081]

Stumbled upon you tonight. Thanks for the content. Watched this a few times. Considering buying an SUV and entering the turo game. At step 1 so just appreciate the tips on market research

[@anounembengue718]

Thank you so much for your honesty . i am new on Turo . i would like if possible to reach out to you and ask you questions . Please let me know if their is a way you can guide me into the process . i really want to be on your team to guide me . i am located in Orlando , Florida . Just by listening to you , i feel a lot of honesty on the advice you giving to us . Thank you , i wish you all the BEST

[@jadore2dance]

Hello, I'm glad i found your page. I'm a woman trying to have a side hussle. . You knowledge is very needed!

[@karen-w]

Just found your channel and you dropped some great gems!!!! Unfortunately, from what you said I made a mistake already!!!! UGH!! But I'll keep pushing! Thank you!!

[@StefanMarquardt]

Thanks for watching! Interested in the mistake you made

[@tonizargari9718]

Very informative. No B.S. information about how much money you can make on Turo and the tips to get started. Thanks.

[@romofonseka5929]

You are 1000% right do one video for uber

[@charityshorternaturallybee5612]

This was very informative thank you. I considering starting this business 🧐🤔

[@mauriceingram]

WOW!! great info shared, this has helped tremendously I was thinking about buying into Turo THANKS BRO STEFAN

[@shelleythebeachbum]

I’m looking at placing my personal vehicle on Turo to help pay it off. Not looking to profit right now. A little nervous about it though!

[@curtiserecacho1401]

I put my 2016 Audi A6 prestige on Turo for a few months… I was charging $178+ and it rented .. you have to know some people will drive it like any rental. You can require age 25 and 30+ only and choose your price. Try it…

[@jksarlington]

First time checking your channel. This was the most informative on the Turo business in just 1 video. I will be checking out your channel.

[@StefanMarquardt]

Thank you for tuning in 🙏🏽

[@lemmotivates3422]

I think the reason it’s good to get multiple cars with one inquire not just for fast growth but also so you won’t get denied for cars when you want to increase your fleet. Your starting business so high risk will always be involved Some people will use that method and win and some will lose 🤷🏿‍♂️ I know people who took 200k loans for different business venture and failed and know people that took 200k business loans and built 7 figure businesses.

[@roro_81]

If you don't mind sharing, who are those people that won and lost and what did they do?

[@DanielVargas-vw2os]

This channel is straight fire 🔥

[@V8twinsnails]

That’s for all the dope advice I’m subscribing

[@rodneyclutch9377]

I appreciate this video. It definitely is informative

[@Platelunchexpress]

Just finished being a host, my market is oversaturated the times of the year just don’t matter anymore unless the car is paid off the margins are so slim. You’re better off work in a part-time job.

[@max3z3]

What market you are in?

[@top-tierpremium7290]

I’ve been rocking with you since you had only 5k subscribers

[@StefanMarquardt]

I appreciate that!!! Ready to take this thing to the next level

[@StartingfromZero-Reachforit]

Dropping them gems Roman from miami

[@williamnichols9198]

Do you have a video breaking down how much you make from how much Turo charges the renter? Im sure it varies, but id kind of like to see how your thought process goes with that.

[@StefanMarquardt]

Good video idea 👍🏼

[@justjessica8624]

As a canadian this video was helpful still.

[@spicydragonroll88-wd2jl]

I have a lower credit score and something happened to my primary vehicle. Turo came in the clutch 😅 but it is summer so people renting cars like crazy rn 😂

[@lep8622]

At the worst case scenario you will at least will cover your car note ❤

[@KB-oe3sb]

Thank you so much for this valuable information brother

[@thisandthatfloridausa6112]

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

[@reformedgarbage5415]

On your point about cash cars, not everyone has 10k to buy a cash car to rent out. And not to mention you’re buying a car without a warranty.

[@tavianstewart7960]

Then your first step should be reduce your debt and save. Before you start investing money you don’t have into a business.

[@Joe-hl6xb]

Great video. You just gained another subscriber. I’m looking at getting into this business. Is it too late to come in and where can I park the cars for pick off and drop offs? I live in Texas by the way.

[@rocioocampo8735]

Just started renting my Jeep on Turo about six weeks ago. Slow start so far

[@StefanMarquardt]

What market and price?

[@RyanW3112]

You mentioned a person not making profit.. maybe theyre building a profile and some credit some traffic with the site. They need to get that 5 star rating for better results . Then they can bring up the price cause theyl get the traffic theyre looking for .

[@69fredwilson]

Dam. Your providing really great info - with data to show.

[@clustrtv3689]

Just started listing in Atlanta got 1 booking so far.

[@inJoyYogaandWellness]

Thankyou !! I appreciate you and your knowledge. Have you done a video on the best car for your area? I'm in Orlando/Disney.

[@K.Flagg94]

What do you do about the different fuel types? If your car takes premium the typical person isn’t gonna wanna pay that premium price only unleaded

[@innovationpropertyatlanta]

Good insight bro!! 2023 is going to be challenging for high end cars.

[@StefanMarquardt]

Facts bro, I see you add deliveries to set yourself apart 👏

[@innovationpropertyatlanta]

@@StefanMarquardt had too.. Only way to stay alive in this market is being creative.

[@chadjohnson9111]

Im considering doing Turo, but I wanted some advice on who to insure the car with

[@upaharjungshah8536]

So much info in this short video. very helpful. Thank you. Subscribed your channel.

[@salvell]

Yeah, I’m only doing long-term rentals a month or two months 1500 a month

[@jaysonmarquez7524]

I’m watching this video in 2024 and boy was this guy correct about they’re being Room in the market for further reduction and used car prices

[@StefanMarquardt]

Feels like car prices still high tho 😂

[@smashestrains]

dope video man. to the point and super informative.

[@MarcusSingleton]

Great video! doing research to see if this is a business I want to be in.

[@robertduran4272]

Tesla Cybertruck. What are your thoughts on putting this vehicle on Turo?

[@mobokey]

Fantastic experience!

[@rpsonntag5569]

Great video! Thanks for all the wisdom and experience you shared - I just got a 2007 c230 sport with 33k miles and it is mint. I was thinking of doing turo with it from a small airport nearby. Any advice you have would be great! Thanks

[@themoi5997]

Hey man love the vids!! Waiting for the next upload!

[@paulmoore6175]

Thanks Stephan, ✍ great advice! 🚗 🚘 🚔 Onwards & Upwards

[@robbb8908]

Great video...spot on on your takes about the market matches other things ive been listening to...good pointers...looking at side hustles and started here...subscribed

[@kyleaddington9638]

listen to the advice having a vehicle that is free from payments is key

[@susanwinters1118]

No such thing as a free lunch. I’ve been in Airbnb hustle for 4 years and including Turo on my listing. Paid off Lincoln and slow and grow. The quick to grow are now selling.

[@StefanMarquardt]

You’re absolutely right Susan. Congrats on the Air bnb’s 👏

[@Mr3939]

Bra hella well spoken

[@LIGLIG-d7s]

I have a 2019 Mercedes-Benz C-Class that was seller financed to me at 5K down, with $310 monthly payments. Purchase price 33K. I put our vehicle on turo for $54.00 a day as our lowest at times.

[@paiddume]

How thats been going?

[@LIGLIG-d7s]

@Ballupjd very good actually, but my only issue is the Turo keeps pricing my car at market price without my consent.

[@GenieWizardry]

@@LIGLIG-d7s how is your Mercedes doing? Is it profitable or double?

[@LIGLIG-d7s]

@@GenieWizardry 9K this year

[@austinbell3169]

Not sure how you feel bout mentoring but how can fans and people tap in besides KZbin.

[@Giggidygiggidy12]

Would you please do an update for this topic as of September 2024

[@aishahacross]

This was awesome! Thank you!

[@DatsDoodoBaby]

How frequently are your cars rented out? 15 days a month? More? Less?

[@StefanMarquardt]

My cheap cars $40-$50 are gone 20-30 days out the month….some have been on trips for 2-3 months. The higher priced cars might have months with 50% but once in a while someone might extend for a month or more. It good to have a variety as customers might want to swap out into a different kind of vehicle.

[@brendamontes4450]

I’m looking to buy about 3 cars in cash and rent them out on Turo? Do you think this is a good idea? Or should I start with 1? Great video by the way!

[@ShannanR]

That’s what I’m getting ready to do. I was thinking to start with one car. I was thinking 1 truck or pick up 1 sedan and 1 luxury

[@brendamontes4450]

@@ShannanR best of luck to us!!! And God of course 🙏🏽

[@benspurgeon6273]

$50 a day on a paid of car is about $1500 a month. That’s not to bad

[@charliemack8332]

Any car you put on Turo never list under 49 dollars jus promote it as your budget car also never list your cars on top of each other spread your address out add automatic template to let your guests no the correct location which should be no further the up the street or across from delivery location when I sat up the street less than 1min away I hope this helps everybody good luck 👍🏾

[@RichardTiland]

Hey thanks for the cool video. So I have a couple questions. I own a BMW X1 2019 outright so I can rent that. Have some cash to invest in a couple cars. Was going to stay with BMW's like 2016-2018's because I like them too. Or should I go with EV's? Should I go with economy? Please advise. OR - should I wait? ??

[@robertanthony5367]

This was dope but I wanted to know more about contracts

[@StefanMarquardt]

Which contracts?