Uber Carsharing Is OFFICIALLY Here! Watch Out TURO!

Uber has officially announced car sharing in North America! Boston is the very first market to be launched and is officially up and running. Uber has clearly made some moves to give them a competitive advantage over Turo. They've expanded compelling parameters from car eligibility requirements, to mileage limitations to entice future hosts to join their network. I'll have exclusive inside scoops from Uber directly that I'll be sharing over the coming months! Uber Carshare is here to stay and will certainly have some affects on Turo. Who will emerge on top? This remains to be seen!
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Ubers Announcement
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*I am not a financial advisor. The ideas presented in this video are for entertainment purposes only. You (and only you) are responsible for the financial decisions that you make.

[@jrockwel3080]

Hey Saimah thanks for contributing such great information for Turo Hosts across the globe it’s greatly appreciated! I’m a Turo host in Boston and recently joined the Uber car share to give it a try and as of right now it’s super slow. Especially given the fact that I am located right outside of the Major airport I’ve only had 3 rentals this whole time and my cars been listed since the end of NOVEMBER. To show good faith Uber is guaranteeing hosts $1600 a month in earnings per car plus another $200-250 for having the car available for 85% of the month or longer (I may be mistaken). As you said in the video Uber does have a way bigger clientele base in comparison to Turo but my account manager specifically told me that they are not doing any type of Marketing right now because the higher ups at Uber don’t want to many claims happening and they are also figuring out how to vet all the potential drivers. That’s all the info I have for now and please feel free to ask me anything else if need be

[@danmartens8855]

These platforms are turning millions of Americans into beginner level Entrepreneurs for the first time. The Gen Z people will learn the small business side of the world, and this will eventually change their voting habits re business taxes and regulation.

[@SevenFiftyNorth]

If you were trying to sell a 13-year-old non-exotic used car with 140,000 miles in Boston, today's your day.

[@drivetildawnlogistics]

Competition between Turo, Uber carshare, and potentially Airbnb is great for hosts.

[@tysofly3579]

One advantage (for hosts) that Turo has over Uber, is that even if the guest only needs a car for a few hours, they have to pay a full days rate. The (potential) high turn over w/ the hourly option with Uber would be annoying for me.

[@fishin4life]

Saimah you are such a pleasant voice to hear speak about the newest information on the car sharing market. Thank you and keep up the good work. 😅

[@saimahsexperience]

Lol thank you for the kind words ☺️☺️☺️

[@juanlawrie3666]

The biggest difference is Ubercarshare uses a lockbox on the window so you never need to meet the hirers. It’s the biggest benefit and the biggest problem. They get broken into constantly and homeless people sleep in the car and use the air con and heater until the fuel runs out and then move to another one. Other times it’s used by joy riders or for doing ramraids

[@love.joseph73]

Thank you so much for this information. Great explanation 🙏🏾

[@saimahsexperience]

You are so welcome

[@joeysketokitchen]

Uber may be a good option for the low end market, but I think there is going to be a lot of low-end renters too. Probably going to be a lot of short term renters witch is a PITA. Not a big fan of the 60/40 split either. I'm on 75/25 with Turo and not worried about the deductible. Nothing here that would want me to switch to Uber. Maybe if I wanted to expand my fleet with a few older clunkers it might work.

[@saimahsexperience]

I agree I think it is heavily going to be geared towards a lower end market but it will be interesting to see if the evolve from that.

[@andymartin1557]

Saimah, you are forgetting the super high trip fee that Turo charges guests, that we don't have visibility to, on top of their percentage. A guest sent me a copy of his receipt and I was shocked to learn that Turo is making more per trip than me and I'm on the 90% plan. This doesn't count the double dipping they are doing on insurance from hosts like us, and guests. I was trying to help out a local repeat guest here in Vegas with my cheapest car, charging him just $79 for two days, but Turo was charging him $201. No joke. We are doing all the work, putting up all the capital and Turo is making more than us!!!

[@saimahsexperience]

Yes this has been the case from many many years ago. Turo charges almost 100% of your day rate in trip fees the guest which is why I believe there is a discrepancy between host expectations and guest expectations. You can see what a guest might pay if you use the app in renter mode and view the check out and it is a lot!

[@andymartin1557]

@@saimahsexperience Right. My guest was very unhappy. He said he didn't see that extra charge until he went to book it. So, maybe net net, Uber will be cheaper for guests? Thanks for responding. You taught me a lot when I first started out two years ago. Up to 20 cars now. Barely breaking even because Turo takes so much. Thanks. Andy's Autos.

[@Wire-Free]

Thanks for the insights🎉

[@MrRoimes]

The problem with the 60/40 is that I don't trust Uber very much, that's how it started with the drivers, Uber kept “25%” now it keeps 60% Uber takes advantage and takes advantage of what we work on the platform, al At first he releases the hook and then comes the pull until you break your neck. We wait and see!!

[@shape5685]

Exactly correct!!

[@saimahsexperience]

I could definitely see that happening however many platforms take this route which ultimately hurts their hosts.

[@XiyasWorld]

Turo may have to lower fees to compete and keep host which is good for us host we can raise our prices a little

[@XX-166]

I can’t wait for the Uber chain to enter the Chicago market. The question is will you be diving into the Uber platform in addition to Turo Samah??

[@saimahsexperience]

I will be keeping you guys updated!!

[@luffakft]

Turo actual cash value or fair market value ? big different.

[@alexthebeast5014]

Great video, any idea of when this will open up in California?

[@saimahsexperience]

Not yet but I will keep you guys in the know as I get the news!

[@FLASHitude]

I was honestly pretty excited until you got to the rev split. 40% is simply WAY too high to operate a profitable business.

[@rwellz8067]

Hair look luxurious ❤

[@user-yr4ur9mu2f]

Boston already have this for over a decade its called ZIP car, and tge cars are new

[@Sunnyfox203]

I was told that you can’t even do ride share with Turo, so why is this even a comparison?

[@worldofivan4368]

40 % is nuts

[@donnmilton247]

$50k is a bit low. They’re going to change that.

[@Knowledgedad]

Going into Turo

[@Reverend-Race-Horsey]

You can also list a vehicle with a fake VIN of a similar car as yours. This way you can get around the mileage/salvaged restrictions, but still can utilize your protection plan and Turos Liability insurance for your guests!

[@ProfeAdventures]

😮😮😮

[@Reverend-Race-Horsey]

@@ProfeAdventures Yes. I've been actually thinking of starting a KZbin channel to talk about ways to "hack" Turo, lol. Maybe I'd call the channel "Naughty Turo"! Another hack is to take pictures of your vehicle(s) once - twice per week and recycle those old photos throughout the week. In the event of a damage claim- you just edit the metadata (time stamps) of the photos and upload them to Turo! You can look up how to do this online or via KZbin. Yes, yes! 🤫

[@TRuffin]

@@Reverend-Race-Horsey You'd upload the photos of the car in good condition prior to a real accident?

[@Reverend-Race-Horsey]

@@TRuffin No, what you are describing is accident fraud. I don't do that! 🚓 🚨 😂 What I mean is- I check in on my vehicle once a week only. During that once a week meeting with my vehicle- I take updated photos of the car and save them . IF an accident occurs later that week- I just upload the updated photos and edit the EXIF Metadata on the photos. Turo checks this data to verify your photos are valid. It depends on the Turo Support employee and how determined they are to work. Most of the time, this ploy works for me because the employees are rather lazy, but sometimes the employees are motivated and will verify the metadata then deny my claim by saying the photos are old(which they are actually old photos). Another thing is the fake Vin trick for damage claims I described in my OP above. The trick here is to go online and find the VIN of a similar vehicle that is NOT "listed for sale" by CarFax. If the car is listed for sale according to the CarFax- then Turo will deny the claim and unlist your car because they know the car doesn't belong to you. This is harder than it sounds and is rather time consuming!

[@shape5685]

As an Uber driver, I can tell you that Uber is doing everything it can to maximize Uber profits and they do this by minimizing driver profits. Uber will start out with great incentives and then start reducing that bit by bit until you make almost nothing. Uber is stealing and has stole tips in the past, they are not transparent, and have massive unjust deactivation's. Just saying whatever Uber starts with will be the high-water mark. With drivers it started out 80/20 but today it is as low as 40/60 (if no one accepts a ride Uber will bump it up a little and re-shop the ride until it is accepted).

[@jrockwel3080]

You are 100% right

[@gorillashop337]

History has shown the 1st company in the space has a huge advantage 😮

[@ajthatceo]

Uber isn’t the first peer to peer car sharing app

[@csrajuse]

Uber is targeting people who want to use cars for traditional uber driver(taxi) and uber eats. They are just trying to internally increase their own business by using cars owned by others.

[@saimahsexperience]

Agreed! But I think adding a new vertices for car sharing really opens up their market

[@shanetseng6040]

Turo might ended up getting bought by Uber.

[@saimahsexperience]

possible!

[@stldweller]

This seems like a really bad idea to get into

[@ryansilvis]

Thanks for the info! Seems like a great option for any cars that age out of Turo, but are still running well and are profitable. I still think Turo will make the most sense for right now, but competition from the platforms can only help the hosts.

[@shape5685]

As an Uber driver, I can tell you that Uber will start out with a great rate and then keep reducing that over and over again until they find the lowest possible point at which to pay you. They steal money from you and call it glitches.

[@Dawg99999]

Uber rips you off

[@ratfinkabooboo18]

🤔🤔 well it sounds basically like they’re only offering the Turo 60/40 plan which already has no deposit, right? Maybe I’m understanding wrong. As of right now it seems like there’s higher margin to be had with Turo but potentially higher rate of bookings with Uber. Could be promising for folks who don’t get many bookings.

[@saimahsexperience]

They have a very interesting model because they take 40% of your “time rate” but then each trip also charges the guest a per mile “distance rate” which the host keeps most of. So depending on what those numbers are it can potentially be more lucrative for the hosts since there are 2 methods of monetization per reservation.

[@ratfinkabooboo18]

@@saimahsexperience definitely interesting. whenever it opens up in the NYC market I’m sure I’m going to throw a car on there just to see how it goes.

[@halk8042]

I don’t trust Uber

[@GhTuners]

Thank you Saimah, Uber doing this will give us host that list there a larger customer base. Will be listing my cars there once they enter my market.

[@saimahsexperience]

It is really exciting to see how things go!