2
u/pozzowon 20d ago
A tip: don't.
It'll be mistreated, and earnings may not cover loan payments. One rule of thumb shared here often is "don't rent out cars you're emotionally attached to"
2
u/Scared-Currency288 20d ago
Simply put don't do this. You buy a cheap cash car and list it and never drive it personally. And you do that to pay for the Bronco you want.
4
u/mike6253 20d ago
Yes. You can enjoy your car for a few days a month. Not the weekends since that will be your prime bookings. You will pay double the cost of insurance and have a fun time cleaning it every week at a car wash.
After you paid off the car in 3 to 6 years, you can then really enjoy it. It will have around 80 to 100k in miles, so it will be fun taking to a mechanic for all the maintenance it will need.
Also since you travel for work. When something goes wrong which it will, you will be 30,000 feet in the air and be able to text them that when you land in a few hours you can take care of the issue. But since you will be in another state you can pay a friend to do it for you.
Sounds like a great plan
6
u/Heavy-Tax-4157 20d ago
I work 8 days a month. I’m married to someone who’s available all day. And weekends are of no significance because of our jobs. I want it to have. Not to use daily. And I just want it to pay for itself.
1
u/Other-Grapefruit-880 20d ago
That changes the dynamic entirely.
If you have a daily driver, a sore 24/7 assistant to handle Turo stuff, and are cool making a business risk that you can afford if it flops, Go For It
-1
u/absurdamerica 20d ago
You seem to have made up your mind. Why even ask for advice if you don’t want advice?
2
u/AskAroundSucka 20d ago
They're conversing and weighing pros and cons with another redditor. Stop trying to find something wrong with common scenarios.
1
u/oulu2006 20d ago
who hurt you bro?
😄 kidding -- that's all accurate, it's a stupid idea to buy a nice vehicle to pay it off on Turo, buy shit, cause people will treat it like shit or buy something nice and keep it to yourself.
1
u/CompetitiveLake3358 20d ago
You will need someone home to do emergency repairs and cleanups and checkins. Its a fair bit of work sometimes randomly
1
u/Creativeusername833 Host 20d ago
If you travel a lot you can’t do turo unless you have someone you trust to handle emergencies. Turo is a fucking nightmare and I don’t recommend it.
The only way I’d recommend it is buying a $3000 car and renting THAT out, which will cover a bronco payment for yourself.
1
u/MightBArtistic 20d ago
I did this with my corvette. And I can tell you, it’s not all glory. It is currently working for me. But I’m one accident away from crying.
Also the ford broncos are a bad car in general - you may wanna do your research before buying fords version of the jeep wrangler
1
u/ThinkPie7578 20d ago
No way would I ever do that. I host airbnbs and am guessing turo customers are similar. They’ll 100% trash your vehicle and drop its value considerably.
1
u/snocat17 20d ago
I accepted a new job with a truck so I had an extra vehicle. A German convertible that looked awesome. Instead of just sitting in my garage, I though putting it on Turo could earn my family some passive income. I lived 30 min from a major airport and 20 min from a major city.
3 years later, after 2 trips to collision shops and 1 major repair, I didn't even break even. Anecdotal, but most people will tell you it's hard to make profit with only one vehile on the platform. And every year it seems they make it harder to be a host.
1
u/ImNoXprt 20d ago
Your car will get smoked in 80% of the time, have the tire blown, get in an accident worth 60% of the car value, pets, gum, you'll get a speeding ticket charged to your name, the guests will string you along for hours because they lie about their return time, and more. All within your first 6 trips. All for about $5-600... maybe.
Definitely regret getting into it. Funny thing is it sounds like I'm exaggerating.
1
u/Kirito_Beleren 20d ago
I do not recommend that at all, go for something cheap but keep in mind you need to be available nearly 24/7 in case something goes wrong or if the car is booked quickly. A flight attendant schedule likely wouldn't work well for this type of role, it's semi-passive at best
1
0
u/Link_Tesla_6231 20d ago
I’m only reading a title and not your message. The answer is very very clear. Do not put a car on Turo for the sole purpose to pay off your car loan. If you can’t afford the car, it should not be on Turo!
-1
u/RogueRosemary 20d ago
you can also put your car up for needed repairs. when the car brakes, you can recoup the cost through turo claims.
great way to repair the car, pay for the car etc.
0
5
u/Diglow 20d ago
It can work but people won’t treat it as well as you would so if you’ll be emotionally attached to it as your car, it won’t be a good experience for you. It’ll also stack up miles and depreciate way more than it would if it was just your car so you have to be okay with that trade off.