This video provides comprehensive advice for individuals looking to start or grow in the car-sharing and rental car business, drawing from eight years of experience. The speaker, Aubrey Janik, covers essential topics such as getting started, platform-specific strategies for Turo, the nuances of direct rentals, scaling a fleet, and co-hosting.
The speaker strongly advises new Turo hosts to prioritize buying heavily depreciated vehicles for their rental fleet. This typically means opting for cars that are around 10 years old with approximately 100,000 miles or more. This strategy is recommended because these vehicles have already undergone the most significant portion of their value loss, minimizing the financial risk for new hosts who may be unsure about the long-term viability of Turo.
Furthermore, it is crucial to purchase these cars at a discount below their market value. This practice helps hosts get ahead of any further depreciation and provides a buffer, making it less impactful if the car experiences wear and tear or if the host decides to exit the Turo business after a short period. This approach is presented as the safest and most advantageous path for those just starting out in car sharing.