TURO RENTAL CARS CRASHED. DID I LOSE MONEY?

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Stefan Marquardt

Stefan Marquardt

Күн бұрын

Пікірлер: 380
@StefanMarquardt
@StefanMarquardt 3 жыл бұрын
Interested in asking some questions regarding starting or running a Turo business? Please use the link to book a 1-on-1 call with me. calendly.com/marquardtconsulting
@usmanduran7148
@usmanduran7148 3 жыл бұрын
In
@joshuahlucas2831
@joshuahlucas2831 2 жыл бұрын
Great video can you help me understand why i need both regular and Turo insurance? Also if i have geico as my personal do i need to let them know my car is on Turo ? Also if it gets in a bad accident thats not a total loss regardless who is at fault when it’s being rented who pays for the damage and what insurance pays for it? Does it affect the personal insurance now that it’s a accident on record for the vehicle? Thanks for the information bro!
@YoungCofRI
@YoungCofRI 2 жыл бұрын
appreciate you and your videos bro! nobody on youtube has acknowledged this one particular situation. What happens if my leased vehicle gets totaled on turo?!
@StefanMarquardt
@StefanMarquardt 2 жыл бұрын
@@YoungCofRI you won't be getting the check since you don't own the vehicle. Hopefully the check covers the current market value of the vehicle. This is why I never recommend leasing for Turo.
@YoungCofRI
@YoungCofRI 2 жыл бұрын
@@StefanMarquardt so you recommend financing or buying outright more? for me its either financing or leasing because i want to enter market with a very competitive vehicle
@myobtv2593
@myobtv2593 3 жыл бұрын
There are some rude, arrogant, nasty, condescending aspiring Turo mentors charging for similar info online. We appreciate your knowledge, experience, professionalism, support, encouragement, and refreshing humility and kindness. Thankyou ☺️
@StefanMarquardt
@StefanMarquardt 3 жыл бұрын
Thank you so much 🙏
@myobtv2593
@myobtv2593 3 жыл бұрын
@@StefanMarquardt your welcome 🙏🏽
@hopekassandra8661
@hopekassandra8661 3 жыл бұрын
Right!! He's awesome!!
@mattisonjames5639
@mattisonjames5639 3 жыл бұрын
@Crystal Aleys I saw one person charging 1K, for Turo info. New sub.❤️
@mattisonjames5639
@mattisonjames5639 3 жыл бұрын
@@StefanMarquardt God bless you!
@1alexnewman
@1alexnewman 4 жыл бұрын
Bro this is amazing. So detailed and all for free, I really appreciate you sharing this with us young entrepreneurs 🙌🏻
@StefanMarquardt
@StefanMarquardt 4 жыл бұрын
Thank you 🙏. Do me a solid and use the info, it makes it 100x more valuable.
@joshuahlucas2831
@joshuahlucas2831 2 жыл бұрын
@@StefanMarquardt Great video can you help me understand why i need both regular and Turo insurance? Also if i have geico as my personal do i need to let them know my car is on Turo ? Also if it gets in a bad accident thats not a total loss regardless who is at fault when it’s being rented who pays for the damage and what insurance pays for it? Does it affect the personal insurance now that it’s a accident on record for the vehicle? Thanks for the information bro
@upsdre
@upsdre 4 жыл бұрын
Real talk. No sugar coating. Thanks alot.
@StefanMarquardt
@StefanMarquardt 4 жыл бұрын
Thank you
@abdulsaleh4226
@abdulsaleh4226 3 жыл бұрын
You literally can’t find videos on KZbin like this I really appreciate you sharing all these numbers because now I have a clear understanding
@StefanMarquardt
@StefanMarquardt 3 жыл бұрын
Thanks for watching 🙏🏼
@she_designs9041
@she_designs9041 2 жыл бұрын
Bored? Wow I was captivated & didn’t realize the end til you say alright guys🥰👏🏼😊 loved it 👍🏼👍🏼thanks for this
@StefanMarquardt
@StefanMarquardt 2 жыл бұрын
Thank you!!!
@mrlpn1984
@mrlpn1984 Жыл бұрын
This video , the numbers and details are true gems!!! Thanks a lot man .
@edgetvnet5440
@edgetvnet5440 4 жыл бұрын
Don't sweat the video length. If your content is solid people will watch. As someone thinking about getting into this, this video was gold. Keep doing what you're doing!
@StefanMarquardt
@StefanMarquardt 4 жыл бұрын
Thank you for the feedback 🙏
@edgetvnet5440
@edgetvnet5440 4 жыл бұрын
Stefan Marquardt No problem. Liked and subbed!
@nancybjackson4508
@nancybjackson4508 4 жыл бұрын
Awesome thank you for the info. You give numbers others leave out. I’ve had to deal with these claims and the first time it happened I was really upset but it’s all part of the business like you said.
@StefanMarquardt
@StefanMarquardt 4 жыл бұрын
Yea I use to be a wreck at first, fast forward to no Iam like 🙃
@jimmyjunior6860
@jimmyjunior6860 4 жыл бұрын
Yo excellent video my guy, enjoyed the numbers breakdown and straightforward talk. PLEASE keep these type of videos coming, very informative as well as motivating. I'm planning on getting into this business myself pretty soon. Salute 💯
@StefanMarquardt
@StefanMarquardt 4 жыл бұрын
I appreciate that!! These comments definitely incourage me to push more content out. My goal is to also motivate so Iam glad I was able to help with that also 🙏
@kylerhem7485
@kylerhem7485 Жыл бұрын
Best Turo info channel. Genuinely appreciate the transparency. Looking forward to seeing more content. You’ve inspired to start market research and find my first car to start.
@ammo3137
@ammo3137 Жыл бұрын
Super informative. What a hassle to lend your car out and have some of them survive only a couple of months. So much time you must have invested with all the claims.
@powerofknowledge7771
@powerofknowledge7771 2 жыл бұрын
You're one smart cookie! Thank you for sharing this with us! All great detailed info!! Sorry you had such bad luck with all these car wrecks. Seems like the drivers were very irresponsible.
@TheCitylife415
@TheCitylife415 4 жыл бұрын
Make the videos longer 😂😂😂👨🏾‍💻seriously love it
@StefanMarquardt
@StefanMarquardt 4 жыл бұрын
Thank you😂🙏
@Gunterforever
@Gunterforever 3 жыл бұрын
@@StefanMarquardt brotha are you in LA?
@michaelhaddon9762
@michaelhaddon9762 3 жыл бұрын
Very informative!! I really appreciate your Transparency!! Please never change...
@StefanMarquardt
@StefanMarquardt 3 жыл бұрын
Thank you 🙏🏼
@antoniobro6857
@antoniobro6857 3 жыл бұрын
I just found your page. I’m considering Turo and I’m in the research stage. I’m also in Georgia. You’re videos are really helping me.
@StefanMarquardt
@StefanMarquardt 3 жыл бұрын
Thanks for watching 🙏🏼
@DearMajesty
@DearMajesty 4 жыл бұрын
The problem with Turo is the insane policy changes that have happened very recently including the wear/tear policy on scratches, dents. Do you have a whisker sized scratch on your rim? Now a rim that is completely trashed, been grinded through a curve, with scratches all over, won't be covered. Say bye to overmileage fees past a certain point. And the insurance has been getting stingier with payouts, cleaning, and other repairs. It's gotten significantly worse in the last 3-4 months.
@StefanMarquardt
@StefanMarquardt 4 жыл бұрын
Yea Iam making a video right now addressing these issue and my stance on Turo as a business amidst these new changes. I would appreciate your opinion when the video drops tomorrow afternoon.
@raymaondg5618
@raymaondg5618 3 жыл бұрын
Many years ago I was part owner of a body shop. We started a rental car business and we started with a lease we signed with Toyota for 5 camerys and 5 Corollas...we did real good with that then as the business got bigger we got more cars but a long story short we had more rental cars in the body shop then we had customers cars...our wreckers where always on call for our rentals we had 100 Toyotas when we broke off and had an offer for the body shop that we couldn't pass up...so hearing about your wrecked cars bought back some old memories of the hassle of owning to many rental cars
@StefanMarquardt
@StefanMarquardt 3 жыл бұрын
100 cars is on another level lol. The insirance payouts make it worth it and can be lucrative for those that own a bodyshop.
@bottlesofchris
@bottlesofchris 3 жыл бұрын
It brings be so much joy to see how good you are at this. Black excellence. And it’s amazing that you are sharing valuable info with others
@StefanMarquardt
@StefanMarquardt 3 жыл бұрын
Thanks queen 🙏🏼
@rendellbaldwin8946
@rendellbaldwin8946 3 жыл бұрын
Great information. I have an auto detailing shop in NH. I currently have a lot of space that I can use to fill up some of those spaces. Thanks! I'M IN 👍
@StefanMarquardt
@StefanMarquardt 3 жыл бұрын
Nice!! Body shops make great money in this business!
@johnanderson8453
@johnanderson8453 4 жыл бұрын
Turo Host Chicago 2 vehicles for 1year- Awesome video!!!! I got soooo much really good info from this video. Like you said know one is talking about this stuff. You have been a great help! I want to start figuring out how to buy at auction. Thank you!
@StefanMarquardt
@StefanMarquardt 4 жыл бұрын
Look on your local marketplace for dealer listings. Reach out to them letting them know your a starting a rental business and looking to partner with a dealer for access to wholesale vehicles. The bigger guys won't bite but a smaller dealer struggling to pay some bills will take the opportunity. Good luck!
@johnanderson8453
@johnanderson8453 4 жыл бұрын
@@StefanMarquardt . Thank you!
@SERGE_Tech
@SERGE_Tech 3 жыл бұрын
I appreciate the long videos but also short ones keep making both!
@FliGuyRyan
@FliGuyRyan 2 жыл бұрын
Thank you for taking the time to create such an informative video like this. I'm definitely weighing these factors as you've presented very beneficial financial numbers. Thank you!
@josepena1046
@josepena1046 3 жыл бұрын
Thanks bro for real info! Im started on turo
@tyriekegraham4609
@tyriekegraham4609 3 жыл бұрын
bruh you going ham in the turo business
@StefanMarquardt
@StefanMarquardt 3 жыл бұрын
Trying bro 💯
@matrixcartel5943
@matrixcartel5943 3 жыл бұрын
For your honesty I subscribed
@StefanMarquardt
@StefanMarquardt 3 жыл бұрын
Thank you 🙏🏼
@gwatson3322
@gwatson3322 3 жыл бұрын
Great video. Keeping it real! Super appreciated. Very informative and no BS.
@StefanMarquardt
@StefanMarquardt 3 жыл бұрын
Thank you 🙏🏼
@mustasheolll2020
@mustasheolll2020 3 жыл бұрын
Damn not bad at all, the profits with the 11’ Cruze
@gryfab71
@gryfab71 3 жыл бұрын
Thanks for this video, really appreciate you sharing your numbers which is what I am looking for and especially with loss and who is paying out. So simple that Turo will take care of it and not deal with personal insurance.
@StefanMarquardt
@StefanMarquardt 3 жыл бұрын
Thanks for watching! I have a similar video dropping tomorrow that you might also get some value from.
@andremccoy6751
@andremccoy6751 3 жыл бұрын
Great Info Bro. Thank you so much for this video.
@amariodom4858
@amariodom4858 3 жыл бұрын
at first i was planning to finance my dream car & use turo to help pay for it but watching these videos I've changed my mind realizing if the car gets into a accident i would cry myself to sleep every night 😆
@StefanMarquardt
@StefanMarquardt 3 жыл бұрын
Buy 2 regulars cars to put on Turo and use the profit to pay for your car note.
@amariodom4858
@amariodom4858 3 жыл бұрын
@@StefanMarquardt sounds like a plan
@mattisonjames5639
@mattisonjames5639 3 жыл бұрын
@amari odom That would be me too.😂❤️
@BrandonCBaldwin
@BrandonCBaldwin 3 жыл бұрын
You tell the bad&good to the business can’t wait to hear more
@StefanMarquardt
@StefanMarquardt 3 жыл бұрын
🙏
@violetahernandez9723
@violetahernandez9723 3 жыл бұрын
First of all thank you for the information you shared! I just wish you had the same energy at the ending of the video through out the entire video. Definitely great advice just would’ve been easier to listen if was delivered differently. At the end of the day though, just my opinion! Thanks again! 😁
@StefanMarquardt
@StefanMarquardt 3 жыл бұрын
Thanks for the feedback!! Definitely a new skill that Iam working on improving
@apex1870
@apex1870 3 жыл бұрын
We don't need Turo to rent cars out, just use renters' personal insurance, they will cover your car much better and you get 100% of the money. Good luck getting your car fixed by Turo if a major accident happens. My Daughters Tesla has been in the shop since September 2020 and Turo is trying to find ways not to pay for it while I still have to pay $700 a month
@DiscsDelivered
@DiscsDelivered Жыл бұрын
What market are you in? Also, I noticed that you have the "body shop" advantage. You can put in for a supplement payments for hidden damage.
@jaimejackson9503
@jaimejackson9503 3 жыл бұрын
Very informative. Appreciate the Knowledge
@RyTheGad
@RyTheGad 3 жыл бұрын
Hey Stefan I just started watching your videos and they're super informative! I do have one question that I came up with though. When you put that Malibu on your personal insurance and the car gor messed up, did your insurance get affected in any way or did turo take the hit for you? If they did take the hit, were you using the 60 plan or the 70? Thank you so much for your time for informing as many people as you can about this great business plan!
@StefanMarquardt
@StefanMarquardt 3 жыл бұрын
I was covered by Turo 70/30 protection plan and all I did after they informed me of total loss was take it off my insurance policy.
@drew5490
@drew5490 4 жыл бұрын
thanks for the response well appreciate.
@SERGE_Tech
@SERGE_Tech 3 жыл бұрын
SUBSCRIBED! Wow what a great video, thanks man!!!! make more!
@CanIndianChannel
@CanIndianChannel 4 жыл бұрын
Stefan is more honest and his information is more reliable than Saimah's experience.
@StefanMarquardt
@StefanMarquardt 4 жыл бұрын
Thank you! This mean a lot to me!
@CanIndianChannel
@CanIndianChannel 4 жыл бұрын
@@StefanMarquardt you are bringing in a lot of value and look forward to your channel growing. Stefan i have 3 cars on Turo and wondering how do i go about getting fleet insurance? Any recommendation?
@StefanMarquardt
@StefanMarquardt 4 жыл бұрын
@@CanIndianChannel I believe Sonoro and GMI are the top 2. I know GMI has a membership sign up fee ($1500) so it all depends on your current price. I think once you go over 5 units it's a no brainer. Not to mention your personal insurance might start asking questions once you have over 3 cars, it all depends on your relationship. The main reason I like commercial, besides the liability side, is that I don't have to keep renewing my policy ever 6 months. A little tip: if they ask how many claims you had during your rental business I would say none if all the claims were handled by Turo. I've seen people get denied for putting all their Turo claims out there when I dont see a way they can find out. Hope this helps.
@CanIndianChannel
@CanIndianChannel 4 жыл бұрын
@@StefanMarquardt again thank you so much, I really hope I can return your favour in providing me this information.
@StefanMarquardt
@StefanMarquardt 4 жыл бұрын
No problem, glad to help
@BTCSowhat
@BTCSowhat 2 жыл бұрын
Ohhhh I just learned something significant!! Thanks for that. I was gonna not give it a try. Your method makes sense. Why buy high end? Duh!! I don’t believe in cars so I will have my dream car and rent it out when I don’t need it. I’ll get some beaters like the ones you have for cash flow!!
@StefanMarquardt
@StefanMarquardt 2 жыл бұрын
Lol they pretty beaters tho...now hoopties
@EbonyMarbury
@EbonyMarbury 4 жыл бұрын
Excellent video! Just starting out and your channel is so helpful! Thank you!
@StefanMarquardt
@StefanMarquardt 4 жыл бұрын
Thank you!! Thats the best reward that a youtube channel offers.
@1Ataya
@1Ataya 3 жыл бұрын
How's it going? How do you like it?
@garagebuilt5071
@garagebuilt5071 3 жыл бұрын
Love the videos man, keep up the awesome work, looking forward for more content!
@StefanMarquardt
@StefanMarquardt 3 жыл бұрын
I appreciate that 🙏🏼💯
@hopekassandra8661
@hopekassandra8661 3 жыл бұрын
VERY INFORMATIVE!! Turo works really well for you because you have an auto shop. You're helping me see that as a single woman Turo may not be a good fit.
@StefanMarquardt
@StefanMarquardt 3 жыл бұрын
The newer the car and miles, the less you have to worry about repairs. I've been buying cheap but I also have units that I've spent 10k on. It's more important what kind of car you buy. I never had a car that just needs work every time it comes back. I've also had cars around the 5k range that go entire year without anything being done! Get a Honda or Toyota for reliability as these cars are almost guaranteed 200k miles.
@codeworld4172
@codeworld4172 3 жыл бұрын
Great video! 👍 Thank you for showing us so much and breaking it down. I’m going to try listing my Toyota cause we barely use it. Quick question? Do you use GPS trackers for your cars?
@alejandrohiga6965
@alejandrohiga6965 3 жыл бұрын
It’s a great idea to have it
@followmybreakdown
@followmybreakdown 3 жыл бұрын
i love the financial breakdowns
@iamdetached
@iamdetached 3 жыл бұрын
14 minutes in and all I'm hearing is that it's a win win situation,everything has risk but damn this business seems pretty worth it sheesh.
@StefanMarquardt
@StefanMarquardt 3 жыл бұрын
If you do it the right way!
@KING_133
@KING_133 3 жыл бұрын
Good vid but question tho: Turo provides the fleet insurance?
@savageofthenorthshor
@savageofthenorthshor 2 жыл бұрын
Great info!
@SERGE_Tech
@SERGE_Tech 3 жыл бұрын
Subscribed: what kind of fleet rental insurance do you have? Should I use fleet rental insurance if I only have 1-3 cars? does this make sense thanks!!!
@JTCoinRings
@JTCoinRings 3 жыл бұрын
Great breakdown
@drippedtipz
@drippedtipz 2 жыл бұрын
I love the long videos!
@charlesroot8936
@charlesroot8936 3 жыл бұрын
Love the videos! I really like the idea of renting on the lower end. What fleet insurance do you use when renting vehicles that aren’t eligible for Turo? I remember another video you said you rent an older Camry.
@StefanMarquardt
@StefanMarquardt 3 жыл бұрын
For the Camry I actually transferred to my friend who runs a lease program so he insures the vehicle and we make money together. I also have another insurance company that I can purchase daily coverage but its much easier if the guest has a comprehensive policy.
@JPInniss
@JPInniss 3 жыл бұрын
Great Video. What is the name of your repair shop? I just started Turo and the guest has gotten into an accident.
@moneymaverickstv
@moneymaverickstv 3 жыл бұрын
Great video. Lots of great information. Thanks.
@powerofknowledge7771
@powerofknowledge7771 2 жыл бұрын
When an accident happens, who's insurance pays? The driver's insurance or Turo insurance or your insurance? How does that work?
@hamsflightskitbox3710
@hamsflightskitbox3710 3 жыл бұрын
Great job, great video bro 👍🏾
@mingosquire1461
@mingosquire1461 4 жыл бұрын
This was a great video I want to start my turo business next month
@StefanMarquardt
@StefanMarquardt 4 жыл бұрын
Do you have a car already? Car prices have been a bit high recently so I haven't been buying as much.
@sdot842
@sdot842 2 жыл бұрын
Great video 💪🏾💪🏾
@StefanMarquardt
@StefanMarquardt 2 жыл бұрын
Thanks for watching 🙏🏼
@mikelCold
@mikelCold 3 жыл бұрын
Really awesome video, thanks for sharing!
@StefanMarquardt
@StefanMarquardt 3 жыл бұрын
🙏
@الشابالعراقي-غ5ط
@الشابالعراقي-غ5ط 2 жыл бұрын
With the used car market being so jacked right now are you still able to buy cars for that cheap? Because these prices you paid were pre-Inflation prices…..
@CrunchyElbow
@CrunchyElbow 2 жыл бұрын
What kind of auctions do you get your cars from? Are they clean titles?
@lotftv7627
@lotftv7627 4 жыл бұрын
Thx for the info...I'm currently waiting for the approval of my used car dealers license and this is one of the things i want to do with the cars.
@StefanMarquardt
@StefanMarquardt 4 жыл бұрын
Turo customers are always asking about cars for sale too so you can definitely cross promote businesses. Good luck!
@jeankennedy6370
@jeankennedy6370 3 жыл бұрын
The good the bad the ugly! I love it.
@reseller7
@reseller7 3 жыл бұрын
We need hr's spent on these cars. You repairing the car means you aren't repairing a customers car. Hr's spent on cleaning, repairs etc is important to know. What I'm getting from all Turo owners is profit & loss without any numbers on hr's spent on a car. It takes time to buy, sell, repair cars. That time has value ... what is that value. As a car reair shop owner ... it makes sense for you. But still time spent at your hourly rate is important to know. Thanks
@globalsounds123
@globalsounds123 4 жыл бұрын
im a young entrepreneur looking to start.. thank you for these major pro tips
@StefanMarquardt
@StefanMarquardt 4 жыл бұрын
Glad to help. Good luck on the journey!
@ponarona1
@ponarona1 4 жыл бұрын
Find a different business
@jackielee4119
@jackielee4119 2 жыл бұрын
Appreciate the info, how do I go about getting fleet insurance?
@jeffreyrodriguez27
@jeffreyrodriguez27 4 жыл бұрын
i love your videos! so question if you don't mind answering in another video. How should i set up my turo business? do i put it all under my name? can i get sued? what is an LLC? and how are taxes calculated when using turo?
@StefanMarquardt
@StefanMarquardt 4 жыл бұрын
If you have more than 3 cars then I suggest getting an LLC. Turo covers up to 75k with insurance coverage and my commercial policy is an extra layer of protection. If you gross more than 20k Turo will give a 1099 so its best to consult with a tax expert. I will say I love depreciation.
@TechSalesRay
@TechSalesRay 4 жыл бұрын
Great info. Taking notes
@StefanMarquardt
@StefanMarquardt 4 жыл бұрын
My boy!!! Waiting on your Channel.
@PeaceChanel
@PeaceChanel 2 жыл бұрын
Peace.. Shalom.. Salam.. Namaste and Thank You for All that you are doing for World Peace.. 🙏🏻 😊 🌈 ✌ 🌷 ☮️ ❤️
@williammadison502
@williammadison502 4 жыл бұрын
Great video family.
@Brooklynquietmoney
@Brooklynquietmoney 3 жыл бұрын
Love the videos bro u r motivating me ignore the thumbs down mfs are haters god bless g
@StefanMarquardt
@StefanMarquardt 3 жыл бұрын
Thank you 🙏🏼 I pay attention to the ones who support me and ignore the haters 💯
@Power0nGames0
@Power0nGames0 Жыл бұрын
ive heard a few peoples videos talk about how difficult it is to deal with turos claims and insurance, have they given you a hard time with any of these? Are they usually quick to respond or rather take so long that its not worth it?
@jonathanluckey9853
@jonathanluckey9853 2 жыл бұрын
How much were you renting out that Taurus per day for them to keep it for 6 months?
@StefanMarquardt
@StefanMarquardt 2 жыл бұрын
$38/day and I was getting about $28 after my protection plan. Just dropped a video talking about long term renters. I had a trip that lasted a year and I have 1 now that’s been going on since February
@tecnologianueva6857
@tecnologianueva6857 2 жыл бұрын
New subscriber here brother. I want to get in . How do you know if the city that you are in has enough traffic to pull the trigger? My city is not on the turo list . Pittsburgh
@StefanMarquardt
@StefanMarquardt 2 жыл бұрын
Research the cars in your area and track their availability for a month.
@jefferyharrell6982
@jefferyharrell6982 4 жыл бұрын
thanks for the information, ??? were do you keep your fleet of cars??? or what's a good idea
@StefanMarquardt
@StefanMarquardt 4 жыл бұрын
I personally have a lot with 18 parking spaces but you can keep them at home and have a public area close by as a pick up spot. Also, you might be able to pay someone who does have a lot but doesn't use it very often. You just have to be creative until you can expand.
@fsenterpriseservicellc
@fsenterpriseservicellc 4 жыл бұрын
Quick question. When you filed claims for your total lost vehicles, what was your turn around time as far as getting paid out for your claims? I recently had a vehicle totaled while on a trip about 3 weeks ago. I have a case worker assigned to the claim. DMA is involved but we are heading close to a month waiting on the out come of this claim. I was just wondering did this process take the same amount of time for you? Thank you in advance for any knowledge you might can provide.
@StefanMarquardt
@StefanMarquardt 4 жыл бұрын
It usually takes a couple of weeks. I am very persistent with DMA. Have they gave a settlement offer yet? What phase of the claim are you in? I use this claims text line also 4158497266. Attach your claim# and they will text or email you back pretty fast. Good luck.
@PimaMr1
@PimaMr1 4 жыл бұрын
@@StefanMarquardt Lies. It takes at least 2 months.
@fsenterpriseservicellc
@fsenterpriseservicellc 4 жыл бұрын
@@StefanMarquardt I am still waiting to hear what the settlement offer will be. After about a month I recieved a email from my claim agent which she states based from a report she recieved on my vehicle it was deemed a total lost. She said she will be geting back to me in the next few days to discuss settlement. That's where I'm at in this process. I will try that number you gave me and let you know how this process goes. Thank you for the information.
@minitr4guy
@minitr4guy 4 жыл бұрын
Thanks for sharing...very good info....I also have a repair shop and access to buying at dealer auctions..and looking to buy my fleets either on floorplan or cash. Did you put your llc as a separate company specifically for turo or run it under your existing business.
@StefanMarquardt
@StefanMarquardt 4 жыл бұрын
I run it under an existing right now but will be separating it next year. I have some good credit lines (including a floor plan) with my auto business and looking to do the same with my Turo business. If you have a repair shop you can kill this game. We love INOPs too.
@minitr4guy
@minitr4guy 4 жыл бұрын
@@StefanMarquardt absolutely!!!..that's all I buy
@sammt9825
@sammt9825 2 жыл бұрын
One thing you did not mention and I am curious to know is who covered the towing fees? Turo?
@StefanMarquardt
@StefanMarquardt 2 жыл бұрын
If the car is crashed, Turo covers the tow
@sammt9825
@sammt9825 2 жыл бұрын
@@StefanMarquardt thank you 🙏
@DSJVNdsjnvf4356
@DSJVNdsjnvf4356 2 жыл бұрын
damn, i turo, but getting into the insurance and accidents scare me, i guess i'll just focus on real estate...
@milori21
@milori21 2 жыл бұрын
Very y good details
@StefanMarquardt
@StefanMarquardt 2 жыл бұрын
Thank you 🙏🏼
@MarsRacing
@MarsRacing 4 жыл бұрын
Love the videos , just got started myself , how and where do you get fleet insurance ? And how do you file insurance claims with Turo as well as your insurance company? Ex. Your total loss vehicles, did you file a claim with your insurance company? Or just drop them off the insurance after Turo paid you?
@StefanMarquardt
@StefanMarquardt 4 жыл бұрын
I file my claims through Turo directly, or through the at fault party's insurance. I never file a claim with my own policy. If you do it right you wont have to either. Good luck.
@MarsRacing
@MarsRacing 4 жыл бұрын
Stefan Marquardt thanks, looking for a second vehicle now , getting ready to head into winter so I’m trying to find an AWD vehicle just a little tougher without dealer license to buy at auction for super low cost, so I’m in the process of that now . Love the business model.
@anthonyfoster5399
@anthonyfoster5399 4 жыл бұрын
@@MarsRacing how’s it going with one vehicle?
@MarsRacing
@MarsRacing 4 жыл бұрын
@@anthonyfoster5399 well was going fine with three bookings until it got hit . It’s been in the shop for a few weeks .
@anthonyfoster5399
@anthonyfoster5399 4 жыл бұрын
@@MarsRacing ahh dang, a rough beginning. It’ll be worth it in the long term when you have 10+ cars
@priceypr1ce
@priceypr1ce 4 жыл бұрын
U should give them bright colored vehicle wraps. Higher visibility will result in less collisions
@StefanMarquardt
@StefanMarquardt 4 жыл бұрын
Hmmm I'll need to look into this. Thank you!
@2real4tv70
@2real4tv70 4 жыл бұрын
Thank brother for the information. Amazing video. Question: how do I research if turo is big in my area/ how do I find out if the demand is there? Also I looked on the app and there are close to none high end or luxury cars in my area but for the ones that are on the app they are priced super high, so does that mean thats an market I could exploit? Just want to pick your brain thanks.
@StefanMarquardt
@StefanMarquardt 4 жыл бұрын
When doing research on your market always use the desktop version of the app, there are features available on the computer that are not on mobile. When searching, make sure to use a date at least a month ahead because if you put in today's date and the vehicle is on a trip it just wont show up. You will have to try to book it and see which dates are available, this will give you an idea of your competitors utilization. If you are thinking of getting into luxury cars, go watch the video I just posted last night. There has been new changes to the platform that you might want to be aware of. What area are you in btw?
@2real4tv70
@2real4tv70 4 жыл бұрын
@@StefanMarquardt Thanks for the tip. I watched your new vid right after I posted that comment. It makes more sense to buy the car full out business wise. Im in southern CT. A while back I took a trip to California and used turo. They had luxury and exotic cars to rent for decent prices but im assuming this is because they are more abundant down here. There are probably no more than 4 or 5 hosts with those types of cars in my area and they rent them 3x as much as in the Cali market. They also do only 200 miles included with 2.99 charge per mile if you go over.
@daewoo818
@daewoo818 2 жыл бұрын
I financed a car for turo and put 6k down. If there's a total loss soon and gap insurance gets involved will I see that money again?
@kelceyburrissr
@kelceyburrissr 3 жыл бұрын
How you get the cars registered when using the floor plan company?
@rmw090
@rmw090 3 жыл бұрын
Great video, thank you
@StefanMarquardt
@StefanMarquardt 3 жыл бұрын
Thanks for watching 🙏🏼
@The-Deer-Lord
@The-Deer-Lord 4 жыл бұрын
Definitely got a lot out of this bro. Thanks!
@StefanMarquardt
@StefanMarquardt 4 жыл бұрын
Thank you for watching.
@alexquiliche4811
@alexquiliche4811 4 жыл бұрын
Great video, do you put all the cars under an llc ?
@StefanMarquardt
@StefanMarquardt 4 жыл бұрын
Yes I only have 1 in my personal name but I prefer LLC for the extra protection against personal assets.
@MrElhamer
@MrElhamer 3 жыл бұрын
@Stefan Marquardt Do you have to get insurance on all these new cars?
@StefanMarquardt
@StefanMarquardt 3 жыл бұрын
Yes, you need at least basic insurance to maintain the registration and I also use 1 of the protection plans during rentals. I have a video on Insurance you should check out.
@jessekirkland7356
@jessekirkland7356 3 жыл бұрын
Very informative.
@mr.johnson2514
@mr.johnson2514 3 жыл бұрын
Great content bro 👏 how is the best way you'd recommend to start out on turo?
@StefanMarquardt
@StefanMarquardt 3 жыл бұрын
Cheaper car around 5k. If you can get a Honda or Toyota with less than 130k miles you are in there.
@AleciaDistin
@AleciaDistin 3 жыл бұрын
@@StefanMarquardt what are your reasons for saying this? Just curious about why it’s smarter to start with a cheaper car. Less financial risk? Easier to rent out?
@claylikescars
@claylikescars 3 жыл бұрын
I wanna watch all your videos but the audio is killing meeee Great work tho thank you for all the info
@StefanMarquardt
@StefanMarquardt 3 жыл бұрын
The audio issue has been solved in my newer videos
@08jhudson
@08jhudson 3 жыл бұрын
Incredible detail thank you. Is it fair to say these vehicles you highlighted were not profitable until they wrecked and you got paid?
@StefanMarquardt
@StefanMarquardt 3 жыл бұрын
The exit plan is part of the strategy and over all profit. These cars were all good running condition and could have been sold also, which is what I usually do when the miles are getting a bit high.
@valenciamclaurin2634
@valenciamclaurin2634 2 жыл бұрын
Hey I am new to turo what plans do you normally use the protection plan
@StefanMarquardt
@StefanMarquardt 2 жыл бұрын
75/25
@lappydog9020
@lappydog9020 3 жыл бұрын
I set up account with 4 cars that i own. My zo6 got renred 3 times but never went out. Turo booted me off and never told me why. Wtf
@temiymahs_World
@temiymahs_World 3 жыл бұрын
Did you get a car rental license and start a LLC? How do you make this an official business? Thank you! Great content!
@StefanMarquardt
@StefanMarquardt 3 жыл бұрын
Yes register an LLC. You don't need any licenses if tenting on Turo. If doing direct rental you would just want structure correctly with your state for tax purposes.
@chad3315
@chad3315 4 жыл бұрын
I'm getting ready to buy a few cars for my fleet i appreciate your videos and advice can i ask do you do this in a city or a rural area
@StefanMarquardt
@StefanMarquardt 4 жыл бұрын
Iam about 30 minutes south of Atlanta. Its not uncommon for some guest to drive an hour to my location simply because there aren't any vehicles available for rent in their area. Good luck and tune in for more videos.
@dylanmusgrave3657
@dylanmusgrave3657 Жыл бұрын
So you can still rent out a rebuild or dirty title car?
@samrei6223
@samrei6223 3 жыл бұрын
Thank you!
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