Long story short: I have a car ideally suited for a large family or road trip (a 2008 Acura MDX SUV) that is now too large for my my everyday driving needs, as two of my three children are now college aged, able to drive themselves, and aren’t always traveling with us any more. My wife is short and has developed mobility issues that often make climbing up into the car painful, and we’re replacing it with a Honda Civic which she finds ideal.
So it seems like it’s time to sell the car.
But, the MDX would still be useful once a month or so for family road trips to avoid having to take two cars, or to cram five people for hours on end into the Honda Civic that’s going to replace it as a “daily driver” type car, or for the times when we also pick up my parents and utilize the third row of seats. It’s been a very useful car for hauling large items, too.
I’ve also modified the car extensively with audio system upgrades for those long road trips (we took this car cross-country and back, 5 years ago), and added a remote start and security system, and generally kept the car in great shape and will miss having it for those scenarios.
If only I could not sell it, but basically rent it out for most of the time, except when I needed it on an as-planned basis! After all, we’ve only put 83,500 miles on it in all this time, it’s considered a very low mileage car as it is.
So, I Googled for something like “AirBnB but for cars”, and what do you know, there is exactly such a thing: Turo.
More Googling turned up numerous horror stories (from an owner’s POV) about their car getting abused, damaged, or wrecked by “renters”, but it seems most of those were from people who for some reason were sharing sports cars or luxury cars like Porsche 911s, Mercedes Benzes, or Jaguars, I guess to defray the cost of owning them in the first place… And attracting joy riders.
But my car is not any kind of sexy performance vehicle, and is long since paid for. I am looking at either selling it outright for something on the order of $9,000 and never seeing it again (based on listings on Cars.com or AutoTrader), or… Possibly… Doing this to lease it out, most likely to a family use case? I see listings on Turo for this kind of car in California being leased out at $38/day, which at 75% return after standard insurance costs would be $28.50/day.
I would never consider doing this with a car I actually needed, and if the worst came to the worst - someone wrecked this car - the insurance would cover it, and I’d not be much worse off than if I’d outright sold it. Meanwhile, if I were able to rent it out (say) for 100 days a year, in under 3 years’ time I’d equal the sales money from it, minus the maintenance costs, while also retaining use of it myself for specific trips.
Has anybody any experience using this service, especially recently, and especially as an owner (though I’m curious about the experience from the renter’s side of it as well)?