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Originally Posted by Ibiza
Quote:
Originally Posted by golovko
Quote:
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a Turo PowerHost as a side business
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have to ask...what is a Turo PowerHost? Quick google search revealed you rent your car out? |
Going through the Turo numbers for M4's in AZ, average is about $250/day for MY 2015/2016. Figure OP is charging over $300 per day. 4 days per month rental pays for the financing payment. |
You're about spot on with that.
I put my rates a bit lower than you might expect. Name of the game is days rented, not daily rate.
I historically have only a 30% vacancy rate, i.e. 30% days not renter. Some months more, some months less. Just average numbers.
So if you do the math, $245/day for my car (again, priced very competitive, but still worthwhile rate), x20 days a month. Minus cost, depreciation, insurance, maintenance, you still come out a sizable profit on a single vehicle.