Been a long time lurker on this sub reddit. So hopefully I don’t get downvoted. Thinking of starting a Turo rental business w/ 5 Tesla’s. Between all five cars the total financed would be $55,000 w/ $20k of financing just for the delay in claiming the credit. Purchasing a parking area (that I will own not rent and finance at $80k) to charge them with partial solar there is a car wash located near the location as well (although I could also install the necessary equipment on the property). I will also pay one individual to manage the five cars. I will also purchase commercial insurance (ABI). Parking area is strategically located near college campus and equidistance between two large airports (45 minutes to each). Thinking of taking advantage of the $10k credit available in my state for two of them. Here would be the lineup:

2019 Model 3 w/ 1 year and 10k miles left on warranty loan left $25,000 (car I currently drive)

2023 Model 3 AWD Price $36,000 (Credit One).

2023 Model 3 AWD Price $36,000 (Credit Two).

2020 Model Y AWD Price $37,800 (2 years 35k Miles Left on Warranty)

2020 Model 3 AWD Price $37,500 (2 years 35k Miles Left on Warranty)

The goal would be to start with turo then hopefully find uber drivers willing to rent the car on a longer term basis. I would slowly expand with more Tesla’s and dump the cars before the battery/drivetrain warranty was up. The goal over a 2-3 year period would be to grow to 20 cars (all electric) and then expand into owning and operating an electric semi fleet (from a different location probably starting in Texas). The latter is a dream/goal so I’m looking to gain more operating experience with Turo and then being in a better financial situation (not tied to turo) after that to risk trucking.

Tell me if I’m crazy here but here is what I’m thinking for costs for all five cars:

Insurance $500 a month ($100 each per car)

Parking Spots (Mortgage on Property) $658

Car Note for all 5 cars Year 1 $850 a month

My net revenue per rental of cars (subtracting all Turo’s fees including max insurance) is target rental amount is about $30-$40 per day. I would guess at that price the utilization would be max 70% so would anticipate $3150 per month.

So basically looking at $2000 per month in costs which I could cover myself if not a single car is rented for a year based on income from my job. The only cost I’m concerned about is the cost of paying someone to help me manage these cars. I have no clue what’s reasonable because with Tesla’s a lot can be done remotely. Has anyone done something similar?

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(http://www.autoadmit.com/thread.php?thread_id=5390451&forum_id=2Elisa#46686751)

I'm sure he could easily get a decent real job and make good money that way

(http://www.autoadmit.com/thread.php?thread_id=5390451&forum_id=2Elisa#46686774)

"the total financed would be $55,000"

How? Because he's dumping tons of cash into it?

(http://www.autoadmit.com/thread.php?thread_id=5390451&forum_id=2Elisa#46686841)

For a commercial policy? Call me skeptical.

(http://www.autoadmit.com/thread.php?thread_id=5390451&forum_id=2Elisa#46686850)

Good idea, guys?

(http://www.autoadmit.com/thread.php?thread_id=5390451&forum_id=2Elisa#46686863)

Maybe you could even require a student ID to drive it?

You could basically just target rich, semi-responsible kids who don't have cars and are probably too young to rent a car.

(http://www.autoadmit.com/thread.php?thread_id=5390451&forum_id=2Elisa#46687180)