I Cashflow with TURO

[Walter Roby jr]

I bought 2 Toyota Yaris' for $4300 all in with monthly insurance at $62/each and monthly taxes®istration at $10. I rent them out 22/30 days for the month at about $18/day net. The guests pay $.25/mile for every mile over what I set, $50/hr for every hour they are late (billable after the first 15 minutes), and they pay cleaning fees for crumbs. Best of all, should they get in an accident, my cars are fully covered by TURO which has happened and I have recouped more than half of the what I paid for in the first month. It requires a lot of photo documentation 24 hrs before and after the trips to prove damage but this can be done 100% without meeting the guests face to face (remote). TURO as a company itself has a grey business model and in would highly recommend NOBODY to lease or finance cars just for this. I wanted to share this with BP for those who are handy with cars and want another source of cashflow.