Was this all done thru different loan companies? Or thru Toyota Financial?
They don’t allow sublease. It’s against your contract but that doesn’t stop people
2 Likes
@Cody_Carter I must have been corresponding with you on another thread, but this is what I was referring to the “Sienna guy”. Sounds like a lot of people are doing it. Wondering if it will be addressed, and if so, how?
Just because a lot of people are doing it doesn’t mean it’s right.
6 Likes
What is the possible end game here? Contract voided?
Not sure how the bank would handle.
I just know that if the bank finds out during the approval process it’s an auto decline
I was thinking the same thing for Turo as it’s the Airbnb for cars. You can get a little side gig for + cash if you crunch the #s correctly. However I think the liability outweighs the rewards.
If a person leases/finances 10 cars and it’s all under their name that’s a huge risk. If the renter crashes, kill himself or someone else wouldn’t the owner of the car have to pay what the insurance doesn’t? Or pretty much the victim can sue the driver, owner, and Turo.
I wonder if most people in Turo put their cars under a business entity or personal name. The better way is definitely have a buffer zone to protect your personal assets in case of worst case scenarios.
I rented out my car on Maven… I’d say out of 10 out of 12 times it was a hassle. I’ve had the car ‘abandoned’ 10 miles up the street. Numerous times used for transporting weed (based on the smell that lasted 5 days). Front end damage, that while they took care of. It was just a pain to get the car back and forth to the body shop, etc.
You have people using your personal vehicle (mine was a lease but still) with a clean license plate doing illegal activities. It’s a drug runners dream. Maven (and maybe turo) is the loophole for getting a clean car to do bad things.
3 Likes
So is Entreprise or Hertz…how is Turo any different?
I didn’t feel comfortable with my license plate checking to actual person (me), whereas Enterprise or Hertz checks back to a rental company.
So here is my observation from doing turo for last 10-11 months and being part of a active turo host group… most of the issues hosts face is with the basic cars which is $29-$59 a day price range and local rentals so what people do is set minimum 2 day rental option so that locals won’t rent(i know its not 100% preventable but it works most of the time) and high end cars attract different type of clientele which is way less hassle(because of high deposit) which in my case is true and i did had couple local one day rentals and they do not take good care of the car thats why i have 2 day minimum now and so far no complaints from me
4 Likes
I doubt it’s because the high deposit.
I have background in vacation rental biz and i noticed the exact same thing happening there. Once we increased the rates, we got less bookings but the $ was the same. The big difference was in the type of guests staying with us. It seemed that the more affluent guests cared more about our property…maybe it has to do with education as it is directly correlated to income level.
6 Likes
100% agree education and upbringing is the key 
You would get a cease and desist letter with a copy sent to your insurance company. If you ignore, your insurance company drops you and TFS repos the car.
Most often it’s your personal car (wholly owned, financed or leased) vs a legitimate rental car co rental contract.
I’m the one who a few days ago upthread who was thinking about perhaps getting up to 5 cars (cleaner and later models from auto auctions like Manhiem where I still have access to), investing or rather risking 100K to see how it goes before I decide to expand further or just take the loss by putting cars back into wholesale auctions to liquidate (or sell to Caravan / Vroom whichever yields me the best offer) in case the venture doesn’t pan out, i.e, too much headache in relation to the input of capital & man-hours combined with too little revenues in proportion.
I crunched some numbers and read around the Net in the last few days and have come to the conclusion that on average run of the mill cars, there’s no real money in this as a venture! I’ll be competing with other who are despaired enough to drop the daily rental rates on their cars and also competing with legitimate rental cos. Desperation will lead to lowering prices / standard which will most likely attract the more sketchy renters!
My personal conclusion is that this TURO stuff is good for those who want to earn some passive income on their own transportation by assuming the inherent risks or if as a business venture one is prepared to offer some luxury / fun cars in their fleet, kind of vehicles which are much harder for an average Joe to rent from a bona fide rental outlet.
Some more sobering thoughts for the aspiring TURO’ists:
I watched a few of the videos. Nice looking girl, but I dont totally follow her business model. But I applaud her hustle.
I just rented a car and somehow the tow hook cover fell off, so of course I told Turo I’d pay for it. The part is $50 they want to charge me $200 in just processing fees 
Hence my hunch that this young lady is an aspiring social media influencer too. Hey, if you get enough clicks and show good traffic, you can earn more passive side income. Some folks are pulling several thousands $ per month in this way, reportedly and purportedly!