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/biz/ - Business & Finance

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7898698 No.7898698 [Reply] [Original]

>Finance brand new sports car
>Rent it on turo.com until it pays for itself.
>Enjoy free sports car.

What's the problem with my plan?

>> No.7898729

>>7898698
you'll rent it out like 2 weeks out of the year idiot

>> No.7898750

>>7898698
>some idiot totals it after 2 hours and ends up dead
> the insurance doesn't pay you back enough
> you end up at a loss with a pile of gory crumpled metal in your backyard

>> No.7898755

>>7898698

It's not a bad plan if you live in an area close to an airport that draws in clientele willing to shell out for your vehicle.

Keep in mind you're going to have to be somewhat conservative in your profitability estimates - factor in warranty extension (buy an extended warranty, don't hesitate on this), insurance, maintenance (tires, brakes, oil changes).

I own a Model X and rent it out via Turo occasionally when I know I don't absolutely need to drive for a day or two. It's a decent option for offloading some of the costs of your vehicle.

>> No.7898759

>>7898750

>> No.7898783

>>7898698
You have to pay taxes on your rental games.
>you must be 18 years old or older to post here

>> No.7898797
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7898797

Oh fuck BEEZEE is already on it

>> No.7898886

>>7898783
Then I'll setup an LLC, have the car as an asset and write off the depreciation.

>> No.7899113

You posted zero numbers. If you're too dumb or too lazy to actually do the math, go fuck yourself.

>> No.7899366

>>7899113
>Here's my chance to be unpleasant for no reason! I need to take it!

I'm not too lazy to do the math I just don't know how many days of the month it's feasible to have it booked.

>> No.7899485
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7899485

>>7898797

>> No.7899515

>>7898886
Now you're thinking like a /biz/nessman!

>> No.7899541

>>7898750
Pretty much this.

Also
>idiot drives drunk in your car
>kills someone
>police find out he rented car from you through turo
>victim's family sues him and you just because thats what everyone does nowadays
>insurance wont touch court case
>you are now the supplier of manslaughter

>> No.7899547

>>7899515
also this is a pretty interesting idea because you'd kind of expect this to be a no arbitrage type situation but then again there's no way the market is efficient enough to arb out this kind of thing so OP is probably right that he could make money

>> No.7899640

>>7898698

>mfw car is totaled by the second guy that rents it

>> No.7899722

>>7899541
>>7899640
>>7898750
They offer up to 1 million dollars in insurance.

https://support.turo.com/hc/en-us/articles/217043898-Detailed-explanation-of-owner-protection-plans

>> No.7899847

>>7898755
>It's not a bad plan if you live in an area close to an airport that draws in clientele willing to shell out for your vehicle.

Yeah. And you don't even have to live in that area necessarily. I wouldn't mind "Casting a wider net" and just driving the car farther to deliver it so that it's booked for more time.

>> No.7899971

One big repair .... you know what do it .... i love selling you 4K service every time

>> No.7900047

>>7898755
How often do you get orders?

I live in miami but go to uni elsewhere in Florida so I would need someone I trust to keep track of the car if I were to do this.

>> No.7900282

>>7900047
I'm in Miami and am trustworthy and will take good care of your car

>> No.7900432

>>7898698
>What's the problem with my plan?
I think about every "normal" car insurance has some clause somewhere how they don't cover commercial use/rentals, so you'd need a specific insurance, which is more expensive.
also: https://www.youtube.com/watch?v=ucQKNkvzQ3g
so prepare people fucking it up, making it dirty and so on. If it's a fancy sports car, probably expect to pull used condoms out of its various cracks and regularly whipe semen of the leather.

>> No.7900884

>>7900282
yeah no.

I mean I'd do it myself but I don't think anyone else in tallahassee could afford to rent my 911