aabajian

Hi all, I started renting my S2K out on Turo three months ago. The rarity of the car and the restrictions Turo enforces makes it a good money maker. Turo requires that cars have less than 130,000 miles, be fewer than 12 years old, and have a clean title. That basically limits S2000's to 2006-2009 that haven't been abused.

I wanted to share my data in case anyone was considering renting their car. Here's a link to the Turo page: https://turo.com/rentals/cars/wa/sea...a-s2000/400063

I purchased the car from a dealer last year with 95,000 miles for $17K in July 2017. The total came to $20K after I paid for tax and minor repairs at the Honda dealer.

A. Pricing
1. I started off charging $59 per day, and the car was rented almost instantly. I've since increased it to $79 per day as the positive reviews came in. I'm going to increase to $89 per day shortly.
2. I require three-day rentals. One-day rentals are terrible because you have to constantly drop-off and pick-up keys, and it makes it difficult for someone to book the next day. With a two-day rental, you'll get a lot of late-Friday to late-Sunday rentals. With a three-day rental you'll get Friday mornings to late-Sunday. I've found that most people don't drive on the Friday afternoon, they're just forced to rent the car an extra half-day.

B. Income
May 2018: $615
June 2018: $855
July 2018: $1335
August 2018 (booked already): $672
Total: $3472
Average: $868 per month

C. Maintanence
Total extra miles added to odometer: ~2,500
Oil changes x 2 at Honda Dealer: $200

D. Who rents
All 18 renters have been male, but 10 of them have been couples, 3 of which were newlyweds on their honeymoon.

I suspect I'll get a steep drop-off during the winter due to Seattle rains. Conservatively, I'll pay off the purchase price of the car in 2 years.

IA-SteveB

Not too bad. That wouldn't be for me since I could never imagine someone else driving my car but the income opportunity can't be ignored.
I assume the driver's auto insurance covers any accidents?

Manga_Spawn

I could never do this with my car but it is interesting. How do you know they can drive manual or is it just assumed that they do since they are renting a manual car? Any issues to speak of? Thats a pretty solid amount of money coming in assuming the renters are kind to the car.

aabajian

Turo provides its own insurance. There are horror stories about it, but there are also positive stories. It seems that if the driver totals the car, you're all set; Turo will pay the market value. The problem is if the driver gets in a minor accident it could put an accident on the title, negating any gains from renting it out.

When you signup to drive Turo cars, you have to state if you know how to drive stick. Turo's policy actually states that you have to be an "expert at manual transmissions." Whatever that means. It hasn't been an issue thus far.

rpg51

There is zero chance I would ever rent my S. I won't even let my wife drive it.

Hfreak

I would rent out a rebuilt title car and be happy about it but I don't have one. Hope you get to your goal in your venture.

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captain slowly

So what happens if/when someone does the "money shift" and kills the engine? Does Turo pay for that or are you on your own?

freq

Can I rent it and track it?

WVCR-V

I would be too afraid of them burning the clutch out or dinging it up or missing a shift and over revving. I agree that it would be good to do on a salvage title car for less fear of ruining a clean title. I really can't blame you though as that income is climbing up there nicely.