May 22, 2024

Make Millions Renting Out Luxury Cars | Royalty Exotic Cars



Published May 15, 2023, 5:20 p.m. by Bethany


Do you want to make millions of dollars by renting out luxury and exotic cars? If so, then you need to start a car rental business!

There are many reasons why starting a car rental business is a great idea. For one, it is a very profitable business. luxury and exotic cars can be rented out for a lot of money, and if you have a fleet of them, you can make a lot of money!

Another reason why a car rental business is a great idea is because it is a very easy business to get into. You don’t need to have a lot of money or experience to start a car rental business. All you need is a few luxury or exotic cars and a place to rent them out!

If you are thinking about starting a car rental business, then there are a few things that you need to keep in mind. First, you need to make sure that you have the right insurance. This is because you will be responsible for any damage that your customers do to the cars.

Second, you need to make sure that you have a good business plan. This will help you to stay on track and make sure that your business is successful.

Third, you need to make sure that you have the right marketing strategy. You need to make sure that you are reaching your target market and that you are offering them the best deals.

If you follow these tips, then you will be well on your way to starting a successful car rental business!

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so i'm here at royalty exotics which is

owned by my good friend houston crosta

who you may have seen earlier when we

did the houston's hot chicken video

talking about all the franchises he's

opening across the country well this

business was actually the one that

really sparked his entrepreneurial

career it's right here in vegas they

rent luxury cars to people all over the

world and they've got a lot of cool

things behind the scenes that i want to

know about especially how profitable it

is to own a luxury car business like

this so if you're interested in turo or

you're interested in doing luxury car

rentals like this you're going to want

to watch the rest of this video houston

what's up brother nice to see you again

man it's crazy we always talk about the

chicken business and that's what i'm

most excited about but to have you here

where i also where i started right it's

it's pretty kind of humbling you know

it's cool to see because this is a very

sexy business right this is the this is

the one that that really i could never

get rid of you know this is that one

this is your passion this is that

passion project it's also my tax

write-off yeah so it's it's got dual

purpose you know it's kind of like real

estate and cars have a lot of

similarities as far as taxes go so this

is the one that means the most to me but

it also benefits me somewhat the most as

well yeah no 100 so how long have you

had this business for so this this was

started in 2015 right i had worked as a

somewhat of a contractor with another

rental car company you know where i had

cars and i was kind of their uh

inadvertent partner um but this

formatted uh this was formulated in

september 2015. wow so i rented my first

car here in probably late october early

november and it was always luxury yeah

yeah no i started with a lamborghini

that was my first car

so it's not like the turo guys who start

with their toyota corolla no i mean

before so when i was that contractor i

started with a nissan gt-r yeah and then

i had some scooters and the scooters was

how i actually made the money to

purchase my lamborghini to start royalty

um but you know that was before scooters

were regulated with helmets and licenses

and insurance so i was renting

essentially bicycles with engines yeah

right so now you know it's a little bit

different you can't be in that business

otherwise i probably would have stayed

in it because like that was the one that

was the real one that was gonna make it

forever you know uh less liability

that's the key yeah i'm curious to hear

as we go along about the liability and

you know your youtube channel is famous

for showing all the wrecks that people

make with these cars yeah so you know i

want to hear like how profitable this

really is as we go along because uh

i'm just curious i'm like man dude this

is a lot overhead like for instance

so this car right here man like

these cars are my cars right this has

never been rented this is never ever

going to be rented i mean i'm actually

like kind of nervous when people sit in

it you know i love to let kids sit in it

and stuff like that you know it's

because like we're all kids at one time

and we would love to have the experience

to have any of these cars so this side

of my showroom which would be you know

the south side is reserved kind of for

the display cars yeah people come from

all over the world to just view these

cars yeah and you know with youtube and

everything we've got subscribers that

come from

many places and i want them to be able

to see something when they get here

because that they've never seen before

yeah typically like we don't have very

many cars here because the goal is to

rent them every day right right and you

know now there's a somewhat of a

recession as i think officially today

there's a recession that was announced

so we're seeing a slowdown in vegas with

the car rentals so there's more cars

here during the middle of the week the

weekends are unaffected which vegas has

always been a weekend city yeah but uh

so during the week if someone comes in

you know there may be a hurricane here

there ferrari but on the weekends

there's nothing here right unless you

come at eight in the morning when

everybody's picking up you're good to

see much so i keep my personal cars here

so people can see it but yeah right to

your point what is this like i've never

seen i don't even know what this is so i

agree with you that you've probably

never seen this car because this is the

only road legal koenigsegg aguero in

america um there is a handful of other

agueros which are called the rss that

are designed to be more of a race car

yeah this one here was basically the one

designed to be a road car it's called

the aguero s and this one's actually

named after it's found or it's a creator

which was david hemmer hansen so it's h

for his last name he was the founder of

a company called 37 signals a base

campaign he he moved out of the country

and um

i was able to buy this car from him last

year and he owned it since 2012. how

much did you pay for this this car was

like a little over three and a half

million just uh just a hair but uh it

it's kind of doesn't have a value right

like

this it's one of a kind

i could immediately sell it for five

million dollars tomorrow morning right

like this is a car that will immediately

just go up because the person who finds

this available to purchase it's gonna be

like one of those cars where i've always

wanted that one car yeah i'll pay this

i'll pay this i'll pay this so if i ever

do decide to sell this car it could

easily be double of what i paid what

what how do i even open it where's the

little button under here you hold it

until you hear that sound and then it

kind of flips forward wow and that's

called the dihedral door that was the

craziest door opening i've ever seen it

actually really is if you get inside the

car and close the door and you watch it

close it's really sophisticated i you

said that you know you're kind of antsy

when people go in i can go in okay

okay good yeah this is my style of car

dude

i might be that guy who buys it from you

we could trade for uh uh maybe that

finished house on that big piece of land

you got dude this is nice so how does

this door close how would i have to

physically pull it oh i gotta pull it

yeah okay oh it's light yeah just let it

just let it shut

whoa

that was scary

dude

looks like a spaceship it's kind of like

a cockpit in there right like the

windshield that windshield costs more

than most people's cars how much does

this windshield that windshield's over

20 thousand dollars holy crap i mean but

look at it like it

to me it actually looks like it's worth

twenty thousand dollars yeah i don't

know if you're familiar with airplane

windshields but airplane windshields

could be over a hundred thousand dollars

yeah so how do i so just hold the door

open like hold the handle kind of

forward like forward movement there yeah

that's impressive dude

that is so cool in the newer models so

this is um what would be the aguera in

the newer model it's uh called the rug

era

it's fully automated so this car has a

button where the doors will open the

engine compartment will open all from

the key wow right so here the engine is

open here and um

it's it's just this is extremely heavy

piece to open holy crap you've got that

there that's sick yeah

it's uh it's pretty beautiful dude you

know

so this is in your collection it's not

rented out yeah you'll never rent it out

but but just so like i know

if you did have to rent it out what do

you think you could rent it for so i

would consider renting this car to be

put on a display instead of a trade show

right that that would make sense for me

like for people to look at the beauty of

it i wouldn't want anybody sitting in it

or driving it or any of those things i

mean this is kind of like

what would your wife cost to rent right

like that's how i look at this car you

know it's not for sale it's not for sale

it's not for rent but like if someone

said hey

i want to put it in the bellagio for a

weekend we're going to promote our

company you know we have a really big

brand that we're trying to launch maybe

it's a nft brand or something we're

going to get some excitement going if i

wanted to put that car there probably

charge them around 20 20 000

25 000 a day that would be like the

going rate because you know we charge

about three to four thousand dollars a

day for regular lamborghini and if you

just do simple math i mean based on

three hundred thousand three million

three four million yes you can just

times it by ten right now

does someone pay that you know actually

probably right i've never really offered

it to anybody but uh i did consider now

that the the economy is changing to

maybe consider like offering display

rentals for people like those big shows

and trade shows and stuff like that

because those companies you know they

spend a lot of money in those booths i

mean some convention people spend five

ten million dollars yeah on a display

there yeah so so you've got these other

cars i mean i would love to go on all of

them but the video would take two hours

but

you got which one is this this is the

pagani uh this is in the video that we

last filmed um this car here is also car

made until there's a hundred of these

made this car has really cool doors also

these are gold wing doors so this is one

of the only cars that's in modern

manufacturing that has goldwing doors

this is like the batmobile it's 2014

super crazy sick car love this car

what's this car worth about three

million three million yeah okay this one

down here is uh uh not we call this

standard this is an electrical s

roadster so this car here

is

not as rare as any of the other ones

okay but this has a 1 200 horsepower

twin turbo kit uh strapped to the back

of it wow so this would be considered um

one of the fastest cars available today

to modify now modifying a 600 000

lamborghini isn't too common um there's

probably

25 to 30 of these cars that were built

over the past couple of years but this

is one of the few that have the top that

comes off so this car here is just

absolutely mental it makes the most

wicked sounds

it's not my favorite to drive because

those cars are so much more unique right

and they're so much more they're just

more special they have more emotion to

them but if i didn't have those two i

would never ever ever sell this car yeah

like this is such a great car to have

because it's like it's so dynamic what's

this car worth you think uh about 850

850. i mean the turbo kits on these cars

cost 250 000

for the basic packages wow like i mean

if you turbo your mustang just for

instance i mean it's like 15 000 right

now you're talking about 250 000 for a

car like this and that goes into the

engineering and there's a lot more to

that than just hard pipes and turbo kits

you know so

um this is a mental experience though

like this is

this makes some crazy sounds that's nuts

all right so obviously those are your

personal collection those aren't for

rent but let's jump into the business

now so

on this side of the showroom you've got

actual cars that people can rent so i'm

curious you know what these cars will

rent for like what you expect to make on

them so you got a ferrari this one is

beautiful by the way this is a 2022

ferrari f8 spider okay um it's got

really great uh options i expect these

cars new um and and so i've kind of

designed them to be rentals right okay

so every car you see in the showroom the

ones outside inside these cars were all

built by me from the factory you know i

put my deposit down i waited you know

the year and a half to build them and a

lot of rental car companies don't do

that right so they're they're not

getting the cars kind of like tailored

to this industry that's kind of what

makes me a little unique a little

special i kind of think that uh a lot of

people when they come see these they

don't expect these to be rentals right

so this car here is just under 400 000

it rents for about 2 800 out the door

per day and it's a little over 700

horsepower it's convertible it's one of

this is the newest ferrari that they

make currently right now so there's

probably

not very many other cars that give you

the driving experience that this does so

tell me this one rents for 2 800 a day

how many days a year do you think this

will rent like what's the revenue this

car will produce funny you say that um

because when i first started this

business i had a uh original i had a red

lamborghini huracan look just like this

it was 2015. i bought that car brand new

in 2015. i was one of the first people

to rent a huracan and

so

my wife my dad everybody when they first

started they asked me how many days a

month do you think you can rent that car

and i said if i told you 15 would you

think i'm crazy they said yeah i said if

i told you 30 would you think i'm

crazier they said no you're you're

stupid i rented that car 45 times a

month every month for as many times

still to this day these cars rent i have

10 12 15 huracans at a time they all

rent multiple times per day so somebody

runs it like for four hours or something

correct yeah they do four hours then

someone will come in later in the day

and do 24 hours then they'll do another

four hours it's just like also we do get

a lot of bookings that are in the future

right so those count on your rental days

so when you look at the end of the month

this red huracan could be booked over 50

to 60 times in a month you know because

it's obviously booked for the future

holy crap so these cars rent a lot and

that's kind of what makes royalty unique

is that and the reason i'm able to have

such special cars is because i do so

much volume an average year here at

royalty was 15 to 18 000 rentals a year

wow with about a fleet of 15 to 25 cars

depends because you know the seasons

change convertibles versus coupes like

right now you're not going to go and

drive a convertible in 115 degree

weather right so the coops are going to

rent more right or they're going to rent

with the hardtop convertible yeah i've

i've never been so we got over here like

the

orange lambo i've never been a fan of

the soft top it just looks cheap i do

agree that's why ferrari i mean they

just that's why they go up in value so

much like that that car is beautiful

that that if i were to pick any car i'd

want to buy i'd want to buy that one

that one i think is the most versatile

car as well it's got the most

comfortable seats it has the most leg

room yeah it's got the most uh tech in

it as well like this car here is very

loud obnoxious yeah these are the most

reliable cars i mean that original red

car was talking about the 200 000 miles

before i sold it and i shouldn't have

sold it i just sold it because you know

the pandemic started and i was like why

do i need this car you know i'll get a

brand new one now you know and i

actually sold it for 50 less than i paid

for it after putting 200 000 miles on it

and 2 million in revenue so okay let's

talk about revenue you know you

mentioned that

you guys do

what was it fifteen thousand um fifteen

thousand rentals a year average a year

so and what's the average rent rate

would you say

you're looking at probably close to see

when i say out the door um there's about

a 30-something percent tax rate in

nevada okay and um there's a lot of

things that come with that you know

those fees and stuff so i'm seeing about

oh if it's 2800 i'm seeing about 50

percent of that money as like a gross

revenue for me okay so the rest of that

money goes to all these other things the

taxes the insurance the everything and

so when i see that and then we take off

the depreciation we take off all the the

maintenance and stuff um i'm seeing

average monthly revenues between five

hundred and six hundred thousand dollars

here okay and we have summer months that

are really busy that go upwards of eight

nine hundred thousand um the winter is

very slow goes down to two hundred

thousand okay so it's very seasonal here

yeah you average it out let's just say

we call it six million dollars right

right yeah

it's very seasonal in las vegas and

that's why right now um it's you know

it's different because it's 114 degrees

it's not the best activity to do yeah in

those months so what would you say like

the profit margin is on that six mil i

think 10 to 12

10 yeah you can make more money if

there's no variable expenses but right

now with the car market how inflated it

is this car i was able to purchase these

cars new because i have a relationship

with the manufacturer um for sticker

right so this was let's say yeah they're

all selling these for hundreds of

thousands over stickers correct so if i

were to have to purchase any of these

cars over a sticker

i would

be completely 100 negative yeah in the

business so do you finance all these

cars um i don't in the beginning um i i

used to actually own everything outright

i was super conservative i never wanted

there to be a recession issue and then i

was able to get a bank to give me a line

of credit okay i took all my titles and

said here loan me some money on these

and i'll expand right so i took some

loans out on all the cars so all the

cars now are on my line of credit okay

traditional finance where i you know

fill out application and get my my

credit and all that stuff and then i

have a singular payment so i basically

have a line of credit that i draw off of

whenever i i still play i so choose so

like this car here um i believe it cost

me around 5 000 a month to operate at a

250 000 car right right so um i was able

to get my money back and then in turn

actually take a profit right without

debt and leverage in this industry

you're never going to be able to get

profit because you took like originally

from when i built this company from 15

to 18 we did i did i made five thousand

dollars a month i mean i i drove a

little fiat 500 electric car like i was

like why do i have all these crazy cool

cars if i'm never making it i don't even

get to enjoy it

exactly and so you know every dollar we

profited would go into saving to buy

another car

or to replace a car in the fleet that

was aged or needed some repair so it's

like you when you think about this

business this is probably the worst

business to invest in in general because

the market's so variable right unlike a

home this car is depreciating at a

usually two to three percent rate per

month right right and and that's very

fast if you're renting the car it's

probably five to eight to ten percent

per month because so many miles there's

so many miles you know the average miles

on a resell lamborghini with two years

of age is 2 500 per year so

when i'm putting on 2 500 per month

that's changing the game you know i mean

that's like i'm i'm going from 250 to

125 in a year yeah right but i think the

thing that's helped you is the luxury

car market being on fire the last couple

of years too right well it's helped me

in the past two years be able to take

some of my old fleet repurpose it but

you know just like if i owned a home uh

to compare it let's say i had a 250 000

house that i bought 2017 and it was

worth hundred thousand

i then had to buy a five hundred

thousand dollar homes or replace that

250 right right so the same thing

happened here i was getting a car for

250 it was worth 350. i sold it i just

made 300 for a new one you know because

the market just kept going up and right

inflation didn't help my rental rates

really people weren't paying that much

more i've actually decreased my prices

over the past two years because

we're in a in a weird spot in las vegas

where it's not like this is a necessity

right like food if someone wants to buy

a chicken sandwich they like that

chicken sandwich it's ten dollars and

i'm raised to eleven i'm still gonna

sell the chicken sandwich right but this

is not a necessity it's not something

someone needs this is a luxury activity

that you can compare with a helicopter

tour you know a limo ride or a show on

las vegas boulevard something along

those lines a nicer hotel room maybe

more alcohol right there's a lot of

things that you can compare this expense

to so when you're talking about 1800 to

2 300 a day for a lamborghini

you could easily be like no i don't want

to use that right there i want to use it

somewhere else right so i've started to

drop my prices because the volume has

slowed when there's four million people

in a month coming to vegas it's easy to

find 25 people a day that want to rent a

car yeah well the other thing is too you

diversified a little bit obviously you

got houston's hot chicken which is going

great but i noticed in the back you got

an auto spa you call it a spa i've never

seen that um because my basic car wash i

mean we do like these flat rate 100

details that's like the lowest level

yeah um i had to build a half a million

dollar car wash for this business yeah

let's go see the car wash i want to see

what you got going on there right dude

the auto spa is crazy so i had to build

this to

physically rent my cars now consider the

volume that i just told you of what we

do let's call it 1500 car rentals per

month right

we're washing at least 1500 cars per

month right and so when you think about

that we had to figure out how to make

our own water our own soaps our own

everything and so as i first started

this business and my volume started to

increase i had to figure out how to wash

a car two to three times a day right and

then when you wash a car with paint and

and chemicals and everything you're

gonna damage it right most people wash

their car once every 10 12 days not

three times a day right so what we

decided to do is we decided to

alkalinize our water and what that does

is it kind of extracts the dirt off the

car without using soap so we use soap

you know once maybe once or twice a

month versus every single car wash and

that water statically pulls that dirt

off the car right so we're ceramic

coating and we're protecting the cars

with paint protection films and all

those things to protect the integrity of

the paint in the beginning but it cost a

lot of money and it cost a lot of energy

to design this system to where these

cars did not look bad after six to seven

months so

during the pandemic i said you know i've

gotta diversify a little bit i wanna get

some local business so open this place

up to the public right so it was only

for you in the beginning yeah i had

already built it i mean i had to build

this right that's why we kind of half

use it as like a tire area in a you know

storage area so it doesn't look so

pretty back here because it was never

designed to be in the public but as you

can see i mean over here we have um

one of our local attorneys um steve

demopolis he uh who would i would have

never thought with the license plate

yeah you know he's entrusting us with

his uh 5 million dollar bugatti here

this is uh this was actually previously

post malone's bugatti i don't know if

you follow that story but uh no i didn't

follow the story of what happened oh

well just post malone sold his car and

steve bought it and there was some uh

contention involved and

there was a lawsuit in place and it's a

it's a cool tmz article if you guys want

to pull it up but uh this car here is

getting a

5 000

ceramic coating polish wow so it helps

us bring in that revenue you know this

is a beautiful white on white dude this

is sick

this white on white looks so good

consider how hard it is to keep this

thing clean right i mean yeah like with

women and makeup or you know guys with

blue jeans this is one of the hardest

interiors to keep clean you almost need

to drive it with a plastic bag on the

car but jobs like this we're super

prepared for and we're able to help

customers that have cars along the lines

to get their

full potential out of what the beauty in

the car was designed for this

i think this is the coolest car that

i've seen like this is just sick yeah

i've been toying with the idea of maybe

trading a couple of my cars to get this

in addition and uh i have a bugatti

veyron that is actually the same color

as your hair

nice purple which is uh my favorite car

color yeah but uh it's not a sheer one

this is the newest car from bugatti this

is a 2000 this one's actually i think is

a 19

but uh 2019 20 and 21 they've made this

model car and this currently has i think

the world record of the fastest car of

316 miles an hour which is pretty epic i

mean this car can go 316. this

particular one can't this one can go

like 275 but they made a a version that

can go 316. it looks exactly the same it

just has just a car that's crazy that a

car on the road could go

275 miles an hour yeah i've actually

been

243 miles an hour in my purple one um it

doesn't feel as safe to go that fast i

could only imagine that 316 would feel

like like you you kind of think that

maybe yeah that's crazy

you're gonna fall off the earth almost

you know dude my man here is like so

gentle and careful yeah

there's so much to a car wash that cost

you know i use the word car wash so

lightly but you know when you're doing a

detail this caliber like

the the materials that go on a car of

this price point are completely

different than go on par of like that

acura nsx over there yeah you know um

there's a ferrari at 40 back there

that's a really cool car

like the lambo

oh you got an old-school ferrari over

here yeah this is a that's a 3 million

1991 ferrari f40 this is three million

dollars yes this is a one of those cars

that define heritage that i was telling

you about wow this is the first car to

ever hit 200 miles an hour in history so

1991 ferrari f40

this car here is absolutely mental it

was twin turbo with like 500 something

horsepower in the 90s so is this

somebody's car you're washing this

actually used to be my car um i recently

sold this car about two months ago and

uh the new owner likes to store it here

so the current owner just took the car

to the track and as you can see the

tires are a little uh uh used yeah um

these were the wheels that i had on the

car here uh i did a little bit more

modern approach uh so when i sold in the

car i had these wheels on it he went and

put these wheels these are actually 18

000

what

used

like these are like

these are entire wheels that are like 30

years old 18 000 still

right so yeah and i'm actually it's

funny i have the world's only subwoofer

and sound system in a ferrari f40 so

these cars came from the factory they

had no speakers nothing and i installed

a

sound system in this car

prior to me selling it so that's funny

pretty epic

i kind of i like this car but like this

car doesn't really work in vegas right

yeah it's there's really no air

conditioning there's it's very difficult

to drive like it's one of the most

uncomfortable small cars you'll ever get

into it's just if you're a ferrari fan

iconic it's iconic yeah that's exactly

what it is and then you have a couple

more rentals like the lamborghini europe

here is a rental that event store is a

rental yeah the other ferrari over there

is a rental and i've got a sea of auto

cycles over there in the storage because

obviously at 114 degrees i don't know if

it's smart to drive an auto cycle you

know that could be actually detrimental

to your health yeah so tell me about the

margins on the car wash side how does

that do as a business well any service

based business as you know has

excessively high margins right so when

we're washing a car and we're doing

something along those lines you know

that's a five thousand dollar uh service

and the margin on that is probably

let's say the cost is essentially 350 to

600

wow right because there's five days of

painstaking like they're using a brush

that's like this big to scrub every inch

of the car so you know you're paying for

the labor right i mean that's 50 hours

essentially in labor to just do that

service right right so like a mechanic

um doing an engine job for let's say

mechanics cost between 200 and 250 an

hour for these types of cars right think

of what 10 12 15 hours a day would be

you know you're spending thousands of

dollars a day to have them work on your

car there's no difference with uh with a

car wash like this so the margins of

service you know they could be upwards

of 60 to 70 percent so do you make more

money in the car wash business than the

rental business as far as margin goes

absolutely i mean you make probably five

to six times more money right yeah

because like when you're selling man

hours it's pretty straightforward right

right when when we're doing these

rentals behind us so we talk about

margin and you want to get the best the

margin out of a rental car company it's

in these auto cycles these auto cycles

back here i mean i have uh i had

actually upwards of almost 50 of them at

one point um when the the height of the

popularity was going now i've got close

to like 15 and i think that um that

number might be shrinking because the

the popularity of auto cycles is

obviously coming down when you can go

and you can purchase these now for i

think about twenty five thousand dollars

okay when they first came out there were

a lot more than that and they were very

hard to get right polaris wasn't

manufacturing them this other one over

here called evander hall this is about

forty five thousand dollars has a heater

has doors the roof it's a little bit

more

i would say

livable right but when you're renting

something like this there's really no

marketplace there's no comparable right

still experience and i was renting these

between 350 and 550 a day depending on

the options the prices right and when

they cost about 30 000

that's really good margin yeah these

have

chevy engines inside of them

so they're basically free to maintain

and they don't really depreciate

motorcycles and auto cycles miles don't

typically matter like it does on a

ferrari lamborghini right right so these

have been my best uh breadwinners from

the company's history but as uh the last

about 12 months we've just seen

declining revenues in in this product

because like i pretty much think that

the fat is over got it at the height of

its popularity they were in every hip

hop video they were all over the

internet i mean they were just being

modified and you know what comes up must

go down so i think they're on their way

down and you know right now um what's

really in is luxury suvs

so those have the highest margins my

current rental fleet where the

lamborghini suv or the rolls-royce suv

you know the bentley suv those ones

there have the highest margins because

again miles don't matter as much so when

you're reselling that car

if it depreciates ten percent on new

versus fifty percent on new yeah it's a

big difference yeah right all right dude

so we've gone through the business crazy

what you've done my big question is

obviously when you started in 2015 turo

and stuff like that wasn't around

now everybody wants to turo their cars

like how has that changed things for you

so

the big cars the really expensive ones

it doesn't affect me because they're not

on touro you know occasionally you'll

find an old lamborghini on tour for like

700 bucks but it's not the same it's not

the same thing um i've seen a big uh

drop off in price point for player

slingshots because

people on tour are renting those for

like 60 to 70 a day wow um

everybody in their mom can go and

finance a slingshot for a hundred and

power sports equipment is usually unique

no one really understands this but when

you finance like an rv or some

recreational vehicle they do 12 year

financing 10 years 12 year financing so

you can get a 144 month loan on a

slingshot and have a 150 to 200 car

payment or like powersports payment and

then when people are putting those on

touro they're like oh i only need to

rent this twice to make my payment for

100 bucks and they're just going to let

it go as much as they can and maybe they

think that they're going to get five to

800 a month in extra revenue right right

well that doesn't always end up being

the best because obviously if you're

doing a 12-year loan you never pay your

principal down and you're basically just

paying interest only right right and

those things are depreciating you know

just as much as as they are if you have

a five-year loan

um that's affected us quite a bit i

think as far as the price points you

know the volume of slingshots i think

are dramatically down across the board

because you can tell when someone rented

one enturo right because it doesn't have

the same like the guys around town they

put stickers on them what company logos

are right so when you see one without

all that stuff you know it came from

touro

and uh you can kind of tell the people

you know you can tell that they're

driving it a little bit more aggressive

they're they're being they feel like

it's not they're not gonna get in

trouble right turo has a real big

problem with peer-to-peer just like

airbnb does with like the party houses

like imagine what you're doing when

you're renting a car from another person

right they don't see that person as a

threat for lawsuits or company charges

or all of the things that a big company

could do to you if you ruin their car

right if you damage it along those lines

so you know i think that turo is helping

and hurting the industry at the same

time

but

we'll see time will tell you know i

don't think that the touro business will

last very long because eventually you

know when the car market starts to

decline people are going to try to sell

those cars and flip out of them and

they're going to be too worn down

they're going to have too many miles on

them and they're going to owe too much

money to get out of them

my impression is i think turo is kind of

great if you have your own car and you

want to make some side income like

absolutely one or two cars no problem

like to run a big operation like this

it's not going to work on turo there's

quite a bit of people on turo that have

10 to 20 to 30 even 50 cars right people

are making businesses on tour which i

kind of find is a little bit unfair they

don't typically have the same cost that

we do right their taxes are different

their operation is different their

building is different their employees

are different they're not paying payroll

tax you know like all the things that go

involved in actually renting and

operating a real business doesn't exist

if you're putting 30 cars on touro right

so that is unfair but

like you said i mean if you have a side

car and you're you're doing um you know

putting your your spare car onto euro

for the weekends and making some income

in it i don't have a problem with that i

think that's actually good yeah so tell

me about just

the

accident side of things like that's what

your youtube channel is based on yeah

that's actually why my youtube channels

grow very much because i don't have

consistent accidents although i would

love to

see that content growing and growing and

growing and being very consistent i also

don't want anybody to get hurt so

i don't have any injury accidents which

is really good never had an injury no

one ever gone to the hospital nothing

along those lines no real insane unsafe

stuff but what i do have is a lot of

people always lying to me right like

this one lady was driving on the wrong

side of the road could have been

detrimental

going uh plus the speed limit

and uh she saw an oncoming car and she

drove over the median right which had

rocks and trees and everything and

basically just took the whole front of

the car off right underneath the car was

totaled and she called us and she said

that she crashed the car because the

anti-freeze had blew up

that was her excuse the anti-freeze had

blown up and i thought that that was so

funny that um

that was what she tried to tell us

happened and the reason why that

accident happened not that she was on

the wrong side of the road not that she

was driving 100 miles an hour into 35

not that it was three in the morning and

she was probably intoxicated right the

enemy freeze had blown up

so yeah i i've watched your channel man

there's some crazy stories but um guys

if you want to see those stories and

just like what it's like running this on

a day-to-day basis definitely subscribe

to houston's channel and uh bro i

appreciate you showing me around man

it's been awesome do you want to make it

on my channel yeah i'll give you a lambo

right now make some content we'll make

it dude let's do it

all right bro so guys if you like this

kind of video make sure you subscribe

and we'll catch you on the next one

peace

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