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      10-25-2019, 03:19 PM   #50
NorCalAthlete
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Quote:
Originally Posted by W Cole View Post
I'm thinking this is a low risk business (insurance covers any damage) and low initial capital required (100% financing on cars).
Pretty much this. One of my neighbors has like 2 GTRs, a Mercedes SLR, a Porsche (not sure on model), and a couple other cars that he rents out on Turo.

Quote:
Originally Posted by nyteryda3 View Post
I had good experiences with Turo.... until I didn't

I had 5 good rentals including a GTR, Panamera, and Macan (which had expired registration for over 1 year).

Then I had a HORRIBLE experience with a base WRX (clearly a lease, still with new dealer plates) from a guy running his own personal rental car agency in LA. Had multiple people picking up and dropping off cars both times I went to his shady little neighborhood near DTLA.

I go to return the car, he looks it over, accepts return and thanks me for my business. A day later I get an email from Turo saying he is claiming damage. I submit my pre+post trip photos showing no damage and the Turo rep gets back to me saying they sided with me and closed the case. A week later I get an email from Turo saying they re-opened the case based on new info provided by the owner. I scroll down and his message and photos are attached so I can see he submitted a photo taken a full day after I returned the car, WITH HIM DRIVING IT AND STOPPED AT A STOP LIGHT, showing a rock chip in the windshield. Another pic showing a tiny crack (smaller than my fingernail) where the headlight corner meets the bumper.

Then I get an email showing the Turo claims adjustor found $1600 worth of damage and they have charged my credit car for this amount. I file a claim with my credit card company which has rental car insurance, they have covered me before when my SIXT rental in Paris (A BMW 2-Series Active Touring Model) got broken into. My credit card company informs me that they don't cover Turo as they are not a real rental agency and says their terms agreement you opt into to rent from them make it difficult to do anything at that point.

I'll spare you any further details of me trying to recoup my money from this fraud and suffice it to say that I'm not the only one who has been screwed like this. Turo will screw host or renter, there's horror stories on Reddit and Instagram of Hosts getting their cars stolen and Turo leaves them hanging (one story about a BMW M3 getting ditched in Mexico) or renters who get cars that aren't maintained and have to pay to repair their rental and aren't reimbursed.

I was their biggest advocate til I got screwed over by them. The idea is great, but at the end of the day, Turo wants to make max money and they don't really care how.

So my advice is: don't use Turo. BUT if you are going to use Turo, get comprehensive insurance (otherwise they will get that $500-$2,500 from you) and rent from 5 star hosts (I did that but it didn't help).
I've heard way too many similar stories from both sides (renter and rentee) to bother with Turo. Just sounds way too sketchy for the price of the cars you're dealing with. I saw a post on Reddit warning that you can and will get royally screwed if you're financing the car and someone totals it / wrecks it in any way / etc because of the way Turo's terms are structured - your insurance won't pay out in full, only partial, so you'll end up underwater quickly. Best thing to do seems to be buy a CPO cash and rent it out on there, don't get emotionally attached to anything, be extremely diligent in documenting everything, and as thorough as you can be in vetting people renting from you. Make good friends with your local mechanics, tire shops, and detailers, as you'll need them often. Stories abound of cars being rented for bachelor parties, sideshows, party weekends, etc and coming back having been smoked in (ash / burns on carpets + smell) and partied in hard (alcohol bottles / spills / used condoms left / etc).

Fuck that.
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