# Anyone Rent out their BMW through Turo?



## enV10us (May 23, 2016)

Anyone Rent out their BMW through Turo? Thoughts on it? Reviews? Is it worth it?


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## enV10us (May 23, 2016)

Here is the link to their website: https://turo.com/
Just considering doing it, didn't know if anyone else has had success/horror stories they would like to share?


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## Doug Huffman (Apr 25, 2015)

How would the owner amortize the maintenance/repair cost risked? I am sure that each model has a risky component comparable to the X5 front propellor shaft that does $20K damage on failure.


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## Doug Huffman (Apr 25, 2015)

How would the owner amortize the maintenance/repair cost risked? I am sure that each model has a risky component comparable to the X5 front propellor shaft that does $20K damage on failure.


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## enV10us (May 23, 2016)

From what I read in their policies (not quoting verbatim), it seems that normal wear and tear on the exterior and interior are taken care of at the expense of the owner of the vehicle. As for standard maintenance, Turo would cover that. When it comes to a major mechanical malfunction, unless it failed prematurely due to a renter honing around in your vehicle, than that would also be covered at the expense of the owner. But any damages deemed at fault of the renter would be taken care of by Turo. In terms of the vehicles clutch, if it is no older than 5 years old (the clutch, not the car), and that malfunctions or fails during use by a renter, that too is covered by Turo. And depending on what coverage you chose through Turo will determine what coverage and compensation you get. I believe it ranges between three: basic, regular, and premium. And as for the cost for the coverage it seems that there is none, just a difference in the amount of profit you receive back if the car is rented out. 

Again, this isn't verbatim of course. But something along these lines.


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## hans747 (Mar 28, 2014)

Never done it. But I have an e34 sitting my garage that does nothing but costs me money. Though i can't really see anyone getting excited to rent my wagon beater.


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## enV10us (May 23, 2016)

hans747 said:


> Never done it. But I have an e34 sitting my garage that does nothing but costs me money. Though i can't really see anyone getting excited to rent my wagon beater.


You'd be surprised, I've seen some cheap cars on their. I believe Turo is a cheaper alternative to other vehicle rental companies, so as long as your vehicle is mechanically and physically sound and safe, than you may be able to make money on any of your cars. It's worth a shot if it is just sitting around. But I've never done it, hence this thread.


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## mark_m5 (Sep 16, 2006)

Never heard of that site before today. Someone apparently went ahead and did something I was pondering how to do myself. "You snooze, you lose" as they say.

As for renting out my car, no friggin' way. Not just "no", but "HELL NO" in caps. Nobody is driving my babies unless I know them and trust that they'd tell me if they screwed something up by driving over a curb or did something else that was equally hidden. The only cars I would rent out would be cars I bought specifically for the purpose of renting out. If I did that, I wouldn't register them with an app provider and share the profits.


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## enV10us (May 23, 2016)

mark_m5 said:


> Never heard of that site before today. Someone apparently went ahead and did something I was pondering how to do myself. "You snooze, you lose" as they say.
> 
> As for renting out my car, no friggin' way. Not just "no", but "HELL NO" in caps. Nobody is driving my babies unless I know them and trust that they'd tell me if they screwed something up by driving over a curb or did something else that was equally hidden. The only cars I would rent out would be cars I bought specifically for the purpose of renting out. If I did that, I wouldn't register them with an app provider and share the profits.


Makes sense. And I definitely don't blame you on your points. also though, if you were to rent out your vehicle without using a third party source such as Turo, you'd probably make no profit, and it would be pointless all together.

I totally love my M6, and I'm skeptical on renting mine out for the reasons you pointed out. But on the flip side, (not that I'm strapped for cash) but I could essentially make over $1000 a month by renting my car out for only about 9 days. idk... Seems tempting.


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## Joe.T (May 24, 2015)

a friend of mine was renting his "exotic" in one of those exotic car collections that rents by the day. He was getting good money per day when it rented, I think it rented like 45 days a year , I think his portion was $750ish a day, I think it was 50% of a $1500 a day rental.

Great money right?

until his car caught fire and the insurance didn't cover it because it wasn't insured as a rental. $200,000ish car that he still owed 75% of that he still pays but has nothing to show for it


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## jjrandorin (May 8, 2013)

Joe.T said:


> a friend of mine was renting his "exotic" in one of those exotic car collections that rents by the day. He was getting good money per day when it rented, I think it rented like 45 days a year , I think his portion was $750ish a day, I think it was 50% of a $1500 a day rental.
> 
> Great money right?
> 
> until his car caught fire and the insurance didn't cover it because it wasn't insured as a rental. $200,000ish car that he still owed 75% of that he still pays but has nothing to show for it


Personal insurance tends to have specific exclusions for commercial use I think. A lot of people dont worry about that aspect till something happens. Insurance is always looking for a way to NOT cover something IMO, so you would have to get insurance that specifically allowed rental use... which would be pretty expensive.


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## mark_m5 (Sep 16, 2006)

Joe.T said:


> the insurance didn't cover it because it wasn't insured as a rental.


 ^This

The site "supposedly" has a million-dollar policy. That could evaporate or get cancelled if they had a couple exotic cars crash.

My plan when I win lotto is to buy a few Ferrari F430s and 360s, a Gallardo, a couple older 'vettes, an older 'stang, a Viper, maybe an SL Benz and a couple fun BMWs, and a couple Carreras... maybe $1M worth of cars, and start an "Exotic Car Rental" business in my upscale 'burb. I've got all kinds of ideas for promoting it.

This site *I've never heard of until today* offers something I've been Googling to find for the last several years. That tells me their marketing is crap.


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## jiveturky1 (Jan 17, 2012)

I've never rented out my own car but I have rented cars twice through turo. They were previously called relay rides. You get to rent interesting cars for less money than a traditional rental car company. Manuals are occasionally available. I think most people who put their car up for rent are multi car owners or city dwellers who rarely use their car. One person I rented from had an extra car sitting in the driveway while their daughter was away at college, so he figured he'd make some money off it. 

It's a good service. I am very wary of the risks others have mentioned though so I won't be listing my own cars any time soon.


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## chatcher (Dec 26, 2013)

If you want to earn money renting something to people cars are not what I'd recommend (real estate)


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## mark_m5 (Sep 16, 2006)

chatcher said:


> If you want to earn money renting something to people cars are not what I'd recommend (real estate)


yep.

That's why I prefaced with "when I win lotto"... otherwise I'd like to use investment capital effectively.


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## enV10us (May 23, 2016)

I wouldn't look at Turo as a way to necessarily make money either. But than as jiveturky1 mentioned, some people just have cars sitting around not making money, so I don't see why not. And as mark_m5 said, the coverage for the vehicles is actually pretty good. Even if you read through the policies of Turo, you'll find it relatively relieving. But on the flip side... I don't know what they do for spontaneous combustion, lol 

But I'd have to agree with mark_m5 on the marketing aspect. But like jiveturky1 said, they used to be called Relay Rides, and than acquired a new CEO and revamped the company (I don't know how long ago that was). But it seems that they are on an upward trend financially (it seems). 

Any other horror stories, success stories?


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## Doug Huffman (Apr 25, 2015)

The best recommendation advertisement is word of mouth from a trusted acquaintance, not a tout.


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## enV10us (May 23, 2016)

Doug Huffman said:


> The best recommendation advertisement is word of mouth from a trusted acquaintance, not a tout.


That's subjective.


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## sirken (Oct 20, 2016)

*Intentional damage is not covered!!!!!*

Turo says that you can trust them, and that damage to your car will be covered. However, when you read the details of the insurance, "intentional" damage is not covered! So if somebody does a burnout, or keys your car, or cuts up the interior with a razor blade,... too bad, you're screwed.

Shifty shifty business practice. Avoid at all costs


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## jaye944 (Jul 5, 2015)

I'd hire mine out for a p0rn movie.

Need to have a AAA+ detail afterwards,
and be on set ! 



enV10us said:


> Anyone Rent out their BMW through Turo? Thoughts on it? Reviews? Is it worth it?


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## jiveturky1 (Jan 17, 2012)

I've now rented three times from Turo. The last time it was a mini cooper convertible. Great fun. 

The latest owner was one of an emerging category of Turo listers who, like some Uber drivers, take the platform way too far and decide to make it a full-on business. They lease/buy several cars to build a fleet, and like a rental car company try to maximize the days each car is rented in a month. They've done the math on the rent they're charging, the depreciation, and mileage limits, and they believe they'll make some money. 

Being on the consumer side, I don't much care who the owner is, and all my experiences have been very positive. Philosophically I do slightly prefer a regular private owner who simply has an extra, interesting car, and hasn't thought too hard about the rent vs. depreciation/resale trade-off. That way I get a cheap and entertaining rental. 

I still wouldn't rent out one of my personal cars.


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## BloomingtonFPV (May 3, 2016)

I rented a car in SF over New Years and it was really easy. The owner unlocked the car remotely after I texted pictures of the car through the Turo app. Customer support was really good too when I scheduled an appointment at 8am on January 1st and the owner didn't see it. They called, they got the guy out of bed, it was sorted. I rented the same car later on in our visit.

I saw tonnes of BMWs for rent in SF, and I was sorely tempted, but I paid $59 and $79/day (the rates vary as a function of demand based on day of week) and the BMWs were going for about $150+. They looked like really great cars. My guess is that you are better off renting a high-end car through Turo because the people who can afford $150-$200/day are going to take good care of your car. Maybe. But I think you get to see the profile of the renter, so maybe you could say no to a bunch of college kids (speaking as the dad of two college-aged kids, I'd not want to rent to them...)


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## 3 Series (Aug 11, 2010)

sirken said:


> "intentional" damage is not covered! So if somebody does a burnout, or keys your car, or cuts up the interior with a razor blade,... too bad, you're screwed.
> 
> Shifty shifty business practice. Avoid at all costs


No kidding, anyone renting their car under these terms didn't read the terms.


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## sirken (Oct 20, 2016)

I'm actually embarrassed to say that I mis-read the policy. The intentional damage clause was actually an exclusion from the policy "exclusions". i.e. it is covered. 

I take it back, Turo! My bad.


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## acoste (Nov 27, 2011)

My experience is that every time I rented out my car there was some damage to it. Couple of new scratches here or there that aren't covered by Turo. Once my fairly new windshield came back with hundreds of tiny chips (drove behind a truck on a dirt road?) that isn't covered either. Then my clutch was burnt (which recovers in couple of days but loses in thickness). Broken little things that you miss at inspection. Came back super dirty inside, took 2 hours to clean. Parking ticket that got never paid. And so on.

Financially the revenue just covered the cost of amortization, maintenance and cleaning. No profit made.


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## mark_m5 (Sep 16, 2006)

acoste said:


> My experience is that every time I rented out my car there was some damage to it. Couple of new scratches here or there that aren't covered by Turo. Once my fairly new windshield came back with hundreds of tiny chips (drove behind a truck on a dirt road?) that isn't covered either. Then my clutch was burnt (which recovers in couple of days but loses in thickness). Broken little things that you miss at inspection. Came back super dirty inside, took 2 hours to clean. Parking ticket that got never paid. And so on.
> 
> Financially the revenue just covered the cost of amortization, maintenance and cleaning. No profit made.


My worst fears, there...


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## 428iAR (Oct 6, 2014)

I rented a 2015 M4 convertible through Turo last year. Picked it up at the Burbank airport and drove it up the coast and through wine country over the next week. Dropped it off in San Francisco. Very convenient. Hated the car though.


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## jiveturky1 (Jan 17, 2012)

428iAR said:


> I rented a 2015 M4 convertible through Turo last year. Picked it up at the Burbank airport and drove it up the coast and through wine country over the next week. Dropped it off in San Francisco. Very convenient. Hated the car though.


Do tell. I'm about to book an m4 on turo as well.


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## Folgen Sie Mir (Jan 5, 2014)

Just replace "car" with "wife."

I'd love to rent someone else's car I can screw around with for a few days. Ride hard, put away wet.

No,
No,
& NO.

Sent from my SM-G920P using Bimmerfest mobile app


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