Part 4/9:

One of the most pertinent negatives of the Turo experience was the fluctuating demand for rentals, especially luxury vehicles. My Macan, for example, required a daily rental rate of around $120 to make it financially viable. When Turo suggested lowering the weekend rate to $73 just to get it rented out, it was evident that the market had shifted dramatically, making profitability a challenge.

Additionally, cars lose value as they accumulate mileage, which is inevitable when renting them out. I encountered a situation where the car exceeded 50,000 miles, leading to a significant depreciation in its value, which compounded the losses incurred. Looking back, a more proactive approach might have been to sell the vehicle earlier, avoiding added service costs and depreciation.