Conor
Senior Member
- Joined
- Jan 22, 2019
- Messages
- 2,521
- Reaction score
- 1,604
- Location
- London, UK
- Your Mercedes
- 2010 S212 350 CGI // 2004 R230 500
Seeing that this months magazine has been sponsored by Turo, it has reminded me to make this post.
I was theorising the other day that. One could buy a car with a view to solely renting it out via car sharing platforms such as Turo et al.
If you were to do all the work yourself such as service, minor repairs etc, it could turn into a nice little money spinner. You would have to pick the most optimum car with regards purchase price and reliability etc.
I haven't done the math but I must have a look and see.. what do people think.
Fwiw - I live in London and something like this might only be suitable to population centres. I must have a gander.
I know a number of people who have rented out cars to go on a road trip or to move stuff, so something like an estate could be worth thinking about. Unfortunately, according to the T&Cs of Turo my S212 has too high mileage (silly!?) so I can't experiment with it. I might try and do some market research and see what I can glean.
I guess a number of things need to line up:
* Purchase price / depreciation
* Maintenance / Running cost
* Rental occupancy / costs
What do people think. I know there will be the usual commentary about cars being wrecked etc, which is worth considering.
I have been renting out my spare room on Airbnb for a little over 12 months now and make approximately 500-600 per month from it, by renting out (90%) European couples who wish to explore London for a long weekend. After having a very quick scan, it could like rates of £35-40 could be achieved per day.
What do people think?
I was theorising the other day that. One could buy a car with a view to solely renting it out via car sharing platforms such as Turo et al.
If you were to do all the work yourself such as service, minor repairs etc, it could turn into a nice little money spinner. You would have to pick the most optimum car with regards purchase price and reliability etc.
I haven't done the math but I must have a look and see.. what do people think.
Fwiw - I live in London and something like this might only be suitable to population centres. I must have a gander.
I know a number of people who have rented out cars to go on a road trip or to move stuff, so something like an estate could be worth thinking about. Unfortunately, according to the T&Cs of Turo my S212 has too high mileage (silly!?) so I can't experiment with it. I might try and do some market research and see what I can glean.
I guess a number of things need to line up:
* Purchase price / depreciation
* Maintenance / Running cost
* Rental occupancy / costs
What do people think. I know there will be the usual commentary about cars being wrecked etc, which is worth considering.
I have been renting out my spare room on Airbnb for a little over 12 months now and make approximately 500-600 per month from it, by renting out (90%) European couples who wish to explore London for a long weekend. After having a very quick scan, it could like rates of £35-40 could be achieved per day.
What do people think?
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