Would I make a worthwhile profit if I rent out my 2015 Convertible Corvette in Turo?

[enycee2k9]

Here's the situation, I have this car financed and although I'm on the upper class bracket I like the idea of having someone else make my payments in return for a few days worth of use.

I reside in Northern New Jersey and brands like Enterprise Exotic are not up here so I'm assuming these kinds of cars are a big attraction for established travelers that have no other venues.

So that brings me to my question, Is it a profitable idea? Would you do it? How reliable is Turo in holding their end of the contract?

Thanks in advance for your responses.

 

[Insomniator]

I have no idea what kind of profit it brings in, but I'd never loan my cars out to strangers on the regular. I don't care if insurance covers any accidents, you can put a car through hell for a day without any immediately noticeable wear. Especially a sports car... would have to be nuts. You think someone renting a Corvette for a day is going to take it easy? Wouldn't be surprised if they brought it to their 15 year old son to teach driving a stick on.

 

[jlee]

Here's the situation, I have this car financed and although I'm on the upper class bracket I like the idea of having someone else make my payments in return for a few days worth of use.

I reside in Northern New Jersey and brands like Enterprise Exotic are not up here so I'm assuming these kinds of cars are a big attraction for established travelers that have no other venues.

So that brings me to my question, Is it a profitable idea? Would you do it? How reliable is Turo in holding their end of the contract?

Thanks in advance for your responses.

Would you let a random stranger drive your car unsupervised for $200/day?

https://turo.com/rentals/cars/nj/newark/chevrolet-corvette/183803?s=I75BFDfc

 

[PottedMeat]

Would you let a random stranger drive your car unsupervised for $200/day?

https://turo.com/rentals/cars/nj/newark/chevrolet-corvette/183803?s=I75BFDfc

lol

Car is not to be driven on Track Or used to Race

is there anything that prevents this? does it have a protected gps log or something?

hes got a panamera, 650i, x5, and a few others listed

 

[A5]

This sounds like a terrible idea unless you really want someone to crash your car. And good luck getting your insurance to cover any damage.

 

[jlee]

This sounds like a terrible idea unless you really want someone to crash your car. And good luck getting your insurance to cover any damage.

https://support.turo.com/hc/en-us/articles/203991830-How-does-insurance-work-

 

[monkeydelmagico]

200 for one day isn't going to cover the set of tires I can destroy in an hour. Thanks for the link I'm close enough to north jersey. A panamera combined with some great roads in/around poconos should be a really fun day.

I'll keep an eye out for your vette. It could be my next victim, erm, I mean to say gently pampered sunday drive.

 

[Insomniator]

Exactly, these people either don't care about their nice cars for some reason, or are broke and shouldn't have bought them in the first place.

 

[dave_the_nerd]

How much does Turo take out of that $200/day for insurance? Taxes?

Also probably need to check with your insurance company. You don't know the real cost of something until you know what it costs to insure it.

Anyway; without any information one way or the other, I'm going to hedge my bets and agree with everybody upthread. Bad idea.

 

[Ns1]

As an occasional Turo user, rest assured that I would promptly fuck up your car drive your car the way it was intended as soon as I left your eyesight.

Hope you got money for new tires.

 

[boomerang]

None of you recognize a spam post when you see it? Check OP's post count for a clue.

 

[QueBert]

I'd never heard of Turo before today, looking in my area I can rent a GT-R for $159 a day. I see a lot of really nice cars, Seems like a lot of risk for not a lot of money.

 

[freeskier93]

So does someone like Turo not require a security deposit? My parents used to have an exotic car rental business, the required security deposit was very hefty and we measured tread depth before/after. Occasionally we'd have someone trash an interior but again... security deposit.

 

[enycee2k9]

Well I certainly received plenty of feedback here, Thanks all for your responses! I'd be extra skeptical to pursue this venture.

 

[evident]

That is way too low of a daily rate for an exotic car like that to make it worthwhile as an owner.

 

[msi1337]

I look at it this way.. If I rent a sports car, I am going to drive it like I stole it.. and everyone else is going to do the same.. Do you really want that kind of wear on your vehicle? I purchased a Mazda3 that was previously a rental (it had about 28k miles on it). It was just barely sporty and plagued with issues. The interior was that of like a 100k mile car.. I only bought it because it was cheap. Even though the carfax was clean I had issues with the frame not being tight and water leaking in the trunk. If I owned that car I would not even give this another thought and just suck up the costs. My boss has a stingray and he would not even consider it.