What No Turo Host Wants to Talk About

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00:00 - Intro
What's up, you guys! In today's video, I will break down what NO Turo Host wants to talk about (including myself)...expenses.
00:28 - Use Code NEWYEAR2024 for $150 Off The Car Sharing Masterclass! www.thecarsharingmasterclass....
01:23 - Insurance
03:40 - Car Payment
04:26 - Maintenance
06:42 - Corporate Accounts
07:45 - Tires
10:00 - Repairs, Damage and Maintenance
11:12 - Buying OEM is Sometimes Better
13:06 - Lifetime Warranties
14:06 - Tools & Supplies
16:00 - Keep Tabs on Expenses
17:14 - Let The Business Absorb Expenses
17:55 - Closing
I hope you guys enjoyed this video; make sure to hit the like, subscribe, and the notification bell, and I will see you guys in the next video.
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Disclaimer:
I am not a CPA, attorney, lender, or financial advisor. The content in these videos should not be construed as tax, legal, or financial advice...etc, and may be outdated or inaccurate; it is your responsibility to verify all information yourself. This is a KZbin video for entertainment purposes ONLY. IF stocks or companies are mentioned, Aubrey may have an ownership interest in them - Please do not make buying or selling decisions based on Aubrey’s videos. If you need advice, please contact a qualified professional.
#Expenses #Turo #CarMarket

[@AubreyJanik]

Our New Year Sale is coming to end and on January 21st, so be sure to use the code NEWYEAR2024 to get $150 off your purchase! www.thecarsharingmasterclass.com

[@ZayTson]

Forget about talking about their expenses, I would guess that most Turo Hosts don't even track/know what their actual expenses are. Unfortunately, not tracking expenses will make or break their business (whether or not they want to admit it lol)

[@ascratchyoucanitch]

Waiting for the list! Always willing to find out more

[@whythiskolaveridi1883]

Many are losing money but they don't realize

[@ZayTson]

@@ascratchyoucanitch It's going to be totally dependent on the vehicle, where you live, & how you buy, but at the minimum you should be paying attention to: - Insurance - Maintenance costs - Repairs (separate from routine maintenance) - Title, Registration, State Inspections - Taxes - Principal, Interest, Financing/Leasing Fees, etc... - Parking - Fuel - Depreciation (This is a major part of any financed fleet, but diminishes in importance if you go the cash cars route. Aubrey has tons of videos on this dynamic on her channel so if you search you'll find a bunch of info) And all of these things will vary depending on your unique situation (e.g. I have commercial insurance for my rentals which is a flat rate of $90 per vehicle, but if you have personal insurance you monthly expense will probably be considerably less)

[@ZayTson]

@@whythiskolaveridi1883 So true, but many Hosts have been on the platform for a couple years and purchased vehicles at all time highs. So unfortunately for them, unless they have the money to pay the difference between what they owe vs. what their car is worth, they can't really sell their cars and as a result will have to continue using Turo even if they don't want to😅

[@dougsheldon5560]

Sitting here in minus 14 weather, DIY seems a lot less appealing😅

[@ZayTson]

If you have any interior DIY projects on your list now's the perfect time lol (I'm using the down time from the weather to clean some carpets/mats, updating a radio/center console, etc...)

[@JS-ue5fp]

Such good info

[@dgmcdnld]

Great topic - yea we just had -36 C here and I blew a oil seal in my car when I started it - ugh...plus lost a week trip.

[@andrewl8251]

Love it!

[@fozzir]

You would never want to have Liability coverage only here in Southern California because people like to steal cars and take them to Mexico.

[@deuanevilaythong2359]

I use to have a Mustang Gt, my memories are terrible one, I had my Gt side swap on the highway- spinning 360 a couple time, heavy rain on the highway- hydroplaning on the highway, and snowing on the highway- slip into the middle meridian. Mustang are terrible in snow, to much power, it slid alot, I like my Ford Bronco as my main car, my side car is mazda miata, if I get another mustang it be my side car.

[@evalina98000]

👍🏽 wanted name of🚗 insurance company u used. Got 🚗 renewal insurance policy wit pages of excluding car sharing coverage. Now no need look through past videos. 😜

[@TagGeorge]

How do you store all the cars. That has to be a expense

[@Stephanie-si8rs]

ABI quotes $89 for basic liability, it is pretty much stated everywhere on their website. Is yours an special rate given the size of your fleet?

[@natetheceo711]

I'm not sure what truly differs Aubrey's rate from others but personally when getting my quote last year for liability only ABI has quoted me for $68 for the one car I had at the moment.

[@SuperMonsterTaco]

Thoughts on this recent expense Aubrey? Got a car back yesterday my bmw 5 series and the guest broke the back door handle because it was frozen. Should I even report it? I’m on the Turo 80/20 play where I get 80% of profit. I doubt Turo will cover it at all because the deductible is so high. Would love your input, this really sucks 😭

[@ZayTson]

You should 100% report it in Turo. Even if you decide to resolve it with the guest and get them/their insurance to pay for it, you need to have it reported in Turo for that to be a valid claim.

[@jamalallicock4114]

I've had this happen to me. It's around $250-$400 fix

[@ZayTson]

@@jamalallicock4114 Yeah I can imagine it wasn't cheap, door handles from BMW are pricey ($150-$350+ for an OEM part). For something like this getting the part used from ebay for about $50 and asking a local shop to give you the quote on the labor is going to save you a couple hundred dollars. (Turo claims department will use that as long as it's from a licensed repair shop)

[@iAlwaysSpeakTheTruth]

If comfort access door handle $750+

[@ZayTson]

@@iAlwaysSpeakTheTruth Yeah those things are pricey😫 Even used/ebay, you're spending $300-$600 😅

[@ryanbeall7542]

I've never understood why you would go for this business model when it's clear that real estate is clearly the same but better. Realestate appreciates, Cars Depreciates.... all things else being equal.... Seems like the harder, not smarter method.

[@buckd2958]

I agree but it’s way easier to get auto loans than mortgages

[@yannickkabala6291]

Or you can do both… I have a car that I purchased for 5K and has made me 10K in a years… better than keeping my money in the bank

[@yesyesshaun]

👍🏾👍🏾

[@cincinnatiohio5345]

Wow she talks Fast lol

[@andyp91]

She doesn't waste our time😂 but you know at the settings you can slow the video down

[@jaysonbiedebach9053]

You should watch Graham Stephan

[@msvetta3602]

@@andyp91thanks for the tip! I never knew that I could slow it down! That definitely helped! 😅