this post was submitted on 17 Nov 2023
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My buddy is addicted to cars in a bad way. He used to make like 500k a year but the stress of running his own business got to him so he bailed and went to a corporate job in Florida that was like 75k a year. He is back up over 100k but probably barely. Anyways he had a lump of cash and could no longer finance his car habit so he dumped it into a few popular cars he wanted and put them on Turo. They paid for themselves and then some and he gets to keep the toys. It wasn’t highly profitable but it was a practical idea for him.
If you want to make more money on it then instead of buying a Ford raptor or a corvette you could put something like a ford transit van or something. Having the latest models is great for renting for a short time. I have a cyber truck getting ready to arrive and I might put it on there for a ridiculous price for a month or two but it won’t last. Something like a van for moving at a reasonable price would be better. One you can do like a minimum half day rental and maybe turn it around twice in a day or minimum day rental maybe but people will realistically only use it for like a short hour long haul a couch from one side of town to another.