by Turo
posted on September 9, 2020
Download the Turo car buying guides
Thinking of adding another car to your portfolio? Start your car shopping with an eye on maximizing your return on investment when sharing it on Turo.
Spoiler alert: Buying at a discount is critical to maximizing ROI
Our research has shown that buying a car at a discount is one of the most important factors in becoming profitable as a Turo host — just a 15% discount on the purchase price could yield as much as a 27% increase in three-year net profit! Of course, many hosts use Turo simply to offset the steep cost of owning the car they already have, but for enterprising hosts who are in the market for another car and have their sights set on profitability, there are several considerations and channels to analyze to optimize your ROI effectively.
These downloadable guides take a deep dive into the different car buying channels — dealerships (new, used, and certified pre-owned), online marketplaces like autotrader.com and truecar.com, online classifieds like craigslist and eBay Motors, and even automotive auctions — to reveal tips, tricks, and best practices to get a good deal on your car purchase.*
In each guide, you’ll learn about the impact of a discount on three-year gross profit, the pros and cons of each purchasing channel, and best practices for securing good deals and navigating the complex car buying landscape. Of course, each host’s circumstances are different, so we encourage you to think critically, be discerning when shopping for a car, and exercise your best judgment to best serve your unique circumstances.
Dealerships
When buying a car, dealerships are the easiest, most straightforward channel to navigate, but also frequently yield the shallowest potential discount opportunities and highest chance of taking a depreciation hit.
Online marketplaces
Online marketplaces like autotrader.com, truecar.com, and cars.com are excellent options for Turo hosts with moderate car-buying savvy — with a little diligence, you can find a great deal.
Online classifieds
Online classifieds like craigslist, eBay Motors, and Facebook Marketplace are excellent options for Turo hosts with solid mechanical knowledge and who are looking to buy quickly. With some patience and perseverance, you can find some amazing deals.
Auctions
Auto auctions offer outstanding opportunities to find deep discounts on the widest selection of vehicles in the market, but have steep barriers to entry.
Experienced hosts with access to a broker and mechanic can find amazing deals, but beware! Auctions are not for the faint of heart.
* Provided for general informational purposes only for audiences in the US and may not reflect the most up-to-date information. These guides contain links to third-party websites. Such links are provided for convenience only; Turo does not recommend or endorse the contents of the third-party sites. The contents of the guides are provided “as-is”; no representations are made that the content is complete or error-free. Turo disclaims all liability with respect to actions taken or not taken based on the contents of the guides.
