Turo, Karshare and carsharing in general

[Gavster]

Car sold for £9820 which puts depreciation at £2030 over 9 months/15k miles. Whilst it's not ideal, the alternative was to put it into the garage for an open wallet set of repairs. Waiting on my accountant to confirm about tax implications.

As for a replacement car, that's gone on hold as I've just landed the biggest contract of my life for my main work which needs my focus over the next month to get started. A new car would need to be listed around the end of June latest ideally, to take advantage of the July/August/Sept peak time.

Thanks for all this information, this forum has been a great insight into carsharing as a side hustle.

I currently have a full time job which i spend most my days at home and my weekend free, this carsharing sidehustle would suit my lifestyle i beleive.... but now ive read this forum im having doubts.

So my questions are:

1. have you tried again since April, if so how are you doing ?

2. karshare, Toru or Hiya car?

3. i have a budget of £5000 to buy a low end vehicle to hire, do you reckon its worth doing?

4. i live next to manchester airport with lots of commercial hire car companies, is this a problem?

thanks for the info Gavster hope to hear a response.

1. Not tried again and it's not really worth trying until either the Xmas period, or spring next year. June through to September are the busiest months.

2. Turo still seems to be market leader, despite all the grumblings about prices and fees. Their support and systems seem to be better too. Have a look and see how many cars from each platform are active in your local area.

3. £5k is probably doable, you'll want to get something like a hatchback that's got a good ROI, despite having a fairly low daily rental price. The single most important factor in your profitability is how much your depreciation is. Find a good deal on a RELIABLE car - that's why they faviour newer cars.

4. Living next to an airport is great, I had several rentals starting from Heathrow and I live over an hour away. Especially Xmas time, you could probably get a solid 2 week booking from someone visiting family in the UK. There's a reason all the other car hire companies are there - there's a lot of business at airports, which is good news for you! Especially if you can offer cheap delivery to the airport or they can get a cab to you for very little ££.

[Samjp9]

Car sold for £9820 which puts depreciation at £2030 over 9 months/15k miles. Whilst it's not ideal, the alternative was to put it into the garage for an open wallet set of repairs. Waiting on my accountant to confirm about tax implications.

As for a replacement car, that's gone on hold as I've just landed the biggest contract of my life for my main work which needs my focus over the next month to get started. A new car would need to be listed around the end of June latest ideally, to take advantage of the July/August/Sept peak time.

Thanks for all this information, this forum has been a great insight into carsharing as a side hustle.

I currently have a full time job which i spend most my days at home and my weekend free, this carsharing sidehustle would suit my lifestyle i beleive.... but now ive read this forum im having doubts.

So my questions are:

1. have you tried again since April, if so how are you doing ?

2. karshare, Toru or Hiya car?

3. i have a budget of £5000 to buy a low end vehicle to hire, do you reckon its worth doing?

4. i live next to manchester airport with lots of commercial hire car companies, is this a problem?

thanks for the info Gavster hope to hear a response.

1. Not tried again and it's not really worth trying until either the Xmas period, or spring next year. June through to September are the busiest months.

2. Turo still seems to be market leader, despite all the grumblings about prices and fees. Their support and systems seem to be better too. Have a look and see how many cars from each platform are active in your local area.

3. £5k is probably doable, you'll want to get something like a hatchback that's got a good ROI, despite having a fairly low daily rental price. The single most important factor in your profitability is how much your depreciation is. Find a good deal on a RELIABLE car - that's why they faviour newer cars.

4. Living next to an airport is great, I had several rentals starting from Heathrow and I live over an hour away. Especially Xmas time, you could probably get a solid 2 week booking from someone visiting family in the UK. There's a reason all the other car hire companies are there - there's a lot of business at airports, which is good news for you! Especially if you can offer cheap delivery to the airport or they can get a cab to you for very little ££.

Cheers for the response, super helpful!

I may just start looking for a car in preperation for Xmas, if its relevant i wouldnt mind getting a few reviews on my turo ready for Xmas period.

[Gavster]

Turo's main competitor, Karshare, closed last week. People on Turo seem to be finding it harder and harder to make money too, as Turo keep bumping up the trip costs.

https://karshare.com

[Rich B]

I love the cheesy film about sharing and community - comparing car sharing to sharing our schools and hospitals....

When the reality is dodgy geezers buying up 7 cars to try and turn a profit!

[Carlos]

Not sure of the order of decline and merger with Karshare and Carandaway but some remnants here for Gav to pick up?


https://www.johnpye.co.uk/auctions/by-o ... MAIL_ID%5D

[Gavster]

Really wouldn't touch it, that would be a complete clusterfuck

The biggest problem is filling the platform with good hosts. I've tried renting on Turo several times and been let down on many occasions, because people list their own car to make a few quid on the side, then forget to block out their calendar on the Turo app. It's not even worth Turo picking it up, because half of the hosts on Karshare were probably on both platforms anyway.