Renting Exotic Cars Replicas on Turo

[Samy Bazizi]

Hi,

Recently I got an offer for a Ferrari replica, very well built, very nice driving experience, at a relatively cheap price. I was thinking of renting it on Turo or other car renting platform. Has it been done already? Is it a good idea?

Need some advice or feedback!

Thanks

 

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[SEBASTlAN]

View: https://www.youtube.com/watch?v=4HHbycOvfW8

 

[Samy Bazizi]

View: https://www.youtube.com/watch?v=4HHbycOvfW8

Am I asking for permission ?

I'm looking for feedback on the idea or advice if any one has done this kind of business.

 

[Odysseus M Jones]

Hi,

Recently I got an offer for a Ferrari replica, very well built, very nice driving experience, at a relatively cheap price. I was thinking of renting it on Turo or other car renting platform. Has it been done already? Is it a good idea?

Need some advice or feedback!

Thanks

What's underneath, MR2?
Ask yourself:
What kind of people would rent a replica Ferrari?
Then ask yourself how will they drive it?
Then ask yourself how much do repairs cost?

 

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[100k]

Am I asking for permission ?

I'm looking for feedback on the idea or advice if any one has done this kind of business.

He makes a good point though, you don't need permission ... just do it and find out.

View: https://www.youtube.com/watch?v=5-sfG8BV8wU

 

[MJ DeMarco]

Terrible idea because replicas are a terrible idea in themselves.

In other words, making a business out of a terrible idea is probably, well, a terrible idea.

 

[Vick]

I would say no as well... But what do I know.

 

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[MJ DeMarco]

I also doubt Turo would allow it since replicas are essentially garage projects.

 

[biophase]

I also doubt Turo would allow it since replicas are essentially garage projects.

I agree with MJ. I doubt people would want to rent a replica. I would never even think of renting one, except maybe the Shelby Cobra.

And what is a relatively cheap price on a replica Ferrari, because they aren't usually worth the chassis that they are built on.

 

[100k]

Terrible idea because replicas are a terrible idea in themselves.

In other words, making a business out of a terrible idea is probably, well, a terrible idea.

Just because YOU hate "XYZ" and think "XYZ" is a terrible idea.

It doesn't mean that there aren't thousands, perhaps even millions of people out there that love "XYZ".

Didn't you say something like that in unscripted . Your audience didn't want to see ads, and some of them said they'd pay to not see ads (ie become VIP members) and you originally thought it was a stupid idea because you would never pay to be a member of a forum?!

I think this is no different tbh. Let the guy test the market and see how it responds before writing it off.

There might be lots of people out there that want to look like they've made it, but don't want to pay $10k+ to rent a lambo/ferrari for the weekend.

 

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[Odysseus M Jones]

Just because YOU hate "XYZ" and think "XYZ" is a terrible idea.

It doesn't mean that there aren't thousands, perhaps even millions of people out there that love "XYZ".

Didn't you say something like that in unscripted . Your audience didn't want to see ads, and some of them said they'd pay to not see ads (ie become VIP members) and you originally thought it was a stupid idea because you would never pay to be a member of a forum?!

I think this is no different tbh. Let the guy test the market and find out before writing it off.

There might be lots of people out there that want to look like they've made it, but don't want to pay $10k+ to rest a lambo/ferrari for the weekend.

Legions of sidewalkers would rent one.

What's underneath, MR2?
Ask yourself:
What kind of people would rent a replica Ferrari?
Then ask yourself how will they drive it?
Then ask yourself how much do repairs cost?

Answer these questions & figure the likelihood of your inventory being trashed.
Ultimately it's a bad idea.

 

[100k]

Legions of sidewalkers would rent one.

Answer these questions & figure the likelihood of your inventory being trashed.
Ultimately it's a bad idea.

You're right, it will probably be people in the slowlane that don't value other people's things. They'd probably do burnouts, drive reckless try to drift etc.

You'd have to change the clutch, wheels, brakes quite often.

It might actually be a bad idea targeting that group. Unless you can find a way to take away the risk, heavy deposit, great insurance ...but even then, you'd have to take it for repairs and lose out on making revenue while it was in the garage.

 

[Odysseus M Jones]

Hi,

Recently I got an offer for a Ferrari replica, very well built, very nice driving experience, at a relatively cheap price. I was thinking of renting it on Turo or other car renting platform. Has it been done already? Is it a good idea?

Need some advice or feedback!

Thanks

You're right, it will probably be people in the slowlane that don't value other people's things. They'd probably do burnouts, drive reckless try to drift etc.

You'd have to change the clutch, wheels, brakes quite often.

It might actually be a bad idea targeting that group. Unless you can find a way to take away the risk, heavy deposit, great insurance ...but even then, you'd have to take it for repairs and lose out on making revenue while it was in the garage.

Some thoughts that sprang to mind:

• Rent it as a track day car. You can charge more, you have a higher degree of vetting applicants, you can be present at the track, organise groups...
• Tourist area, older sidewalker couples, honeymooners, less likely to risk wife's life if she's a passenger
• Wedding hires, "just married" car for the photo op/wedding video when they leave the reception for honeymoon
• Budget photo shoots, TV commercials, movies, advertising etc

 

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[alexkuzmov]

Hi,

Recently I got an offer for a Ferrari replica, very well built, very nice driving experience, at a relatively cheap price. I was thinking of renting it on Turo or other car renting platform. Has it been done already? Is it a good idea?

Need some advice or feedback!

Thanks

Personally, if I`m going to rent a Ferarri, its gotta be the real deal.
Why not spend a little more to drive the real thing instead of a replica?

 

[csalvato]

Tangentially relevant: The man who built his own Lamborghini

I never realized how big and cool the replica market was until I saw that article.

 

[Samy Bazizi]

Some thoughts that sprang to mind:

• Rent it as a track day car. You can charge more, you have a higher degree of vetting applicants, you can be present at the track, organise groups...
• Tourist area, older sidewalker couples, honeymooners, less likely to risk wife's life if she's a passenger
• Wedding hires, "just married" car for the photo op/wedding video when they leave the reception for honeymoon
• Budget photo shoots, TV commercials, movies, advertising etc

My thoughts,

It would be rented for photoshoots, events, a date, etc... And I can rent it at a quarter of the price of the real car.

I don't think it's a bad idea, i think exotic cars are used as status symbols as much as for the driving experience.

I tried with turo and apparently they allow replica cars. Just need to know now how the market reacts and what would be a good price point.

 

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[Johnny boy]

Almost all business questions of whether it’s a good idea or not comes down to the math.

What will people pay?

How many of them will pay?

What are your costs?

Try it out and find out for yourself.

Personally, I would do a different business model.

Purchase a classic car. Like a 65 mustang worth 20k in great condition. Lease it out for $350 a month to someone with great credit and make them responsible for repairs and keeping it in nice condition like any other lease, then you get the car back after 3 years along with 10 grand and a car that’s still worth close to 20k. All passive income and much less headache.

 

[Odysseus M Jones]

Almost all business questions of whether it’s a good idea or not comes down to the math.

What will people pay?

How many of them will pay?

What are your costs?

Try it out and find out for yourself.

Personally, I would do a different business model.

Purchase a classic car. Like a 65 mustang worth 20k in great condition. Lease it out for $350 a month to someone with great credit and make them responsible for repairs and keeping it in nice condition like any other lease, then you get the car back after 3 years along with 10 grand and a car that’s still worth close to 20k. All passive income and much less headache.

Provided it didn't get 'stolen' one week into the lease with later rumors of it residing in a Japanese car collector's private stash.
Whose insurance premiums will skyrocket?

 

[Johnny boy]

Provided it didn't get 'stolen' one week into the lease with later rumors of it residing in a Japanese car collector's private stash.
Whose insurance premiums will skyrocket?

Why doesn’t that happen with other leases then? It’s handled the same way as any other auto lease. Their insurance premiums skyrocket. It’s their insurance. They have to have full insurance to lease the car. Gap insurance is also required just like a normal lease. If they damage it, they’re responsible, just like a normal lease. If they don’t pay, you raw dog their credit until it’s a pulverized mess, just like a normal lease. The only thing that changes is instead of getting a car back that’s 50% of its original value, you get back a car that didn’t depreciate so your profit is huge. That’s the difference.

 

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[biophase]

My thoughts,

It would be rented for photoshoots, events, a date, etc... And I can rent it at a quarter of the price of the real car.

I don't think it's a bad idea, i think exotic cars are used as status symbols as much as for the driving experience.

I tried with turo and apparently they allow replica cars. Just need to know now how the market reacts and what would be a good price point.

I feel like your demographic would be teenagers and younger people renting it for things like prom.

The main issue with the kit cars is that they don't really look like the real thing to people who know cars.
So those type of people would never rent one. Just my opinion, I think your market would be fairly small.

 

[Alleghenyman]

Why doesn’t that happen with other leases then? It’s handled the same way as any other auto lease. Their insurance premiums skyrocket. It’s their insurance. They have to have full insurance to lease the car. Gap insurance is also required just like a normal lease. If they damage it, they’re responsible, just like a normal lease. If they don’t pay, you raw dog their credit until it’s a pulverized mess, just like a normal lease. The only thing that changes is instead of getting a car back that’s 50% of its original value, you get back a car that didn’t depreciate so your profit is huge. That’s the difference.

it’s an interesting idea with respect to real collectible carsand there are some companies doing this for blue chip collector cars.

If I were doing this I would want some form of security for the property. I think it would be hard to get my own insurance for a vehicle I do not possess because I am leasing it out. If the lessee has some net worth you could ask for a large refundable deposit that gets put in an interest bearing account like a money market or bond fund.

I would also want to conduct periodic inspections of the vehicle.

I think the market for renting replicas is nonexistent outside of a tourist trap perhaps.

 

[socaldude]

Nothing like impressing your date in a 2001 saturn with stained cloth seats with the backyard bodywork of a ferrari.

 

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[MJ DeMarco]

Just because YOU hate "XYZ" and think "XYZ" is a terrible idea.

It doesn't mean that there aren't thousands, perhaps even millions of people out there that love "XYZ".

Lipsticking a turd is still a turd. That fact that there are 1000s of people who would want to "rent" that turd doesn't shock me ... these are the same people who probably drive without car insurance and buy clothes on Friday only to return them Sunday after wearing them for Saturday's club night. They're also the same people who buy knock off Louis Vuitton's for $20 when the real thing is $2,000.

I stand by "bad idea" as it's only one gray shade away from a counterfeiter who sells fake Guccis.

In fact, I'm guessing the idea is so bad that NO insurance company would give you liability insurance for it. In short, you'd have to operate illegally, not to mention Turo would never approve it.

But I'm guessing the people that would rent such things wouldn't give a shit, nor would the business owner providing the "service".

You'd get two low-rent parties who deserve each other ... a business owner who sells under-insured counterfeit merchandise and a consumer who wants to look cool and buy shortcuts.

Both deserve each other. Bad idea? 1000%.

That said...

If anyone wants to know what would change my mind from "bad idea" to "good"...

The following would need to occur:

A) The garage project would need to be totally unique, not a rip of an established brand.
B) The project would need to be full insured, liability wise for renters.
C) Turo would need to accept the car as acceptable.
D) Passes all state/gov regulations for passenger vehicle.

My opposition is mainly due to the "counterfeiting" loophole and that most replicas are absolute junk.

 

[Martin.G]

I really don't know, but are replica legal? If the answer is yes maybe you can give a chance. You can offer to an owner a good deal to give it a try and then decide if it is a good idea or not.

Edit: I just read the MJ DeMarco post and I have my answer, so it's not a good idea.

 

[Redwolf]

While the consensus is that it may be a bad idea, it doesn't explicitly violate Turo's rules. Things to note: 1) It needs proper insurance. 2) It would be subject to further review by Turo.

Vehicles we accept

Is my vehicle eligible to be listed on Turo? All vehicles must meet Turo’s list of universal requirements. They must also meet specific requirements set for the US, Canada, the UK, and for Commer...

support.turo.com

 

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[Redwolf]

The consensus is also that you should never rent out an RV because it will be trashed either by folks not giving a "F" or by ignorance of operation. Yet, RV rentals are a huge business. Renting motorcycles is also a thing, which is arguably the easiest vehicle to damage. Renting actual exotic cars is a big thing too.

However, to @MJ DeMarco 's point - what demographic would want to rent out a kit car. ‍

Just as an aside... I recently met someone at a track day in a Turo rented Porsche. He said he rented that particular one because another he was interested in specifically forbade driving on the track in the description. But Turo's rules actually say driving off of "public streets" is not allowed, so technically he was violating the rules anyway. And also being a dick taking someone's $90k+ car on the track without permission.

 

[lvfb]

Ok i had to jump in on this as i googled if anyone has ever done this.

To those who say its a bad idea i say that is incorrect.
To those who say "spend a few extra dollars and rent the real thing" i say that is incorrect as well.

The reason i jumped in here is im in vegas. dumb a$$ tourists rent ferraris, lambos and all the other super cars under the sun. they USUALLY require a 5k deposit and have insane millage fees. These same dumb a$$ tourists LOVE flexing. they love it so much that they rent my POS 2009 1 series bmw all the time because its a convertible.

I think there is some decent bread to be made if you can get a 1985 fiero with a stretch and exotic kit on it. per their "classic car" requirement, which i have yet to crack, i believe theyll allow 1980s "fun" looking cars for rent. id say do it, when you take the pics that turo is gonna ask for to review REMOVE ALL EMBLEMBS as im sure there is some copyright law that could come back and F*ck you. never use trade marked names in the listing and just tell people its an "exotic super car" or some store brand kirkland shit like that.

Let me know if you get it on there because i might buy a few myself and do the same thing. Let these tourist slam my 4k fiero with a 3k lambo kit into a tree. much less of a headache than the 300k+ dollar real one