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I've used Turo for a 3 week rental and I learned a few things. I wanted to buy a new Jeep Wrangler Unlimited, but as you may know those are enthusiast vehicles
by jboggan 9y ago
I've used Turo for a 3 week rental and I learned a few things.
I wanted to buy a new Jeep Wrangler Unlimited, but as you may know those are enthusiast vehicles and not without their quirks, so I wanted to live with it awhile and really be sure that was what I wanted. Also I was going elk hunting in Idaho for 2 weeks and I didn't own a car so I thought, how perfect?
The trip and the Jeep were great, but it got me thinking about the economics of the whole thing. I noticed that my "host" I was renting from had about a dozen identical Jeep Wranglers on Turo, not multiply listed but completely different vehicles. I realized that the "Uber landlord" model was already taking hold here. I did the math - Wranglers are some of the lowest depreciating vehicles right now even with heavy mileage, and even with 2-3 days of rental a month the owner would likely break even at the end of the loan. Interesting business.
- ghaff 9y agoIn the right area of the country I could see a decent market for renting Jeep Wranglers and Rubicons as the rental options for that type of car tend to be fairly limited. That said, off-road vehicles will tend to be taken off-road and beat up a bit. It's unclear whether the insurance covered by Turo covers the vehicle being used off-road etc. Of course, if someone is running this as a business, they can presumably get their own commercial insurance.