With Turo I am able to rent my Mercedes out for about $75 a day...

with Turo I am able to rent my Mercedes out for about $75 a day, of that I make about $55 after insurance costs provided through the app.
they will insure any car up to $125,000 so the most expensive car you see on there is a tesla Model S or a jaguar or a BMW M4.
I found a Lamborghini Gallardo, bright yellow, that is for sale for $119,000 obo.
If I were to rent it out for $400 a day, minus 25% would net me $300 per day, of that it would take me 7 days rented to make the payment, personal insurance included.
and If i were to rent it out for 20 days Id make $6000 a month, that would be 3 months payments
but if I dont rent it at all then im on the hook for $2300 a month.
thoughts

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Sounds like it all depends upon how many days of the month you can lend them out. The business lives or dies on this.

my exit strategy would be to sell the car.
but you're entirely right. Id need to price it right to meet the supply demand ratio.

I've seen a McLaren on there before.

I don't think you're going to able to rent it out 20 days a month. That might be a good thing though, you should be aiming to make the payment and maybe a bit extra. This way people wont be putting a crazy amount of miles on the car, causing it to drop in value like crazy.

Considering this you might want to limit the daily miles and charge like a buck every mile they go over.

Research how often the Gallardo needs maintenance, because that's really fucking expensive. Most of these cars need an engine or transmission rebuild every x miles (30k, top of my mind), and that's the kind of service that'll set you back a few grand.

Also consider logistics, at a $400 price point people will expect free delivery and pickup. If you can't do it yourself that's one more cost to put into the calculation.

I'm not sure if Turo has the audience you're targeting either.

Just did some digging and most comparable rentals at that price point seem to come with 100 free miles and 2 to 3 dollar per mile over.

Turo charges .75 per mile over the first 100, goes straight to me. Realistically thats low, I could up the price if I wanted.

>that's the kind of service that'll set you back a few grand
Uhhh... A new transmission/clutch in a lambo can be beyond $40k... if that's a 'few grand'

I live in SoCal so the weather for this would be great year round rather than just certain times of the year, another reason I am tempted.

Not too viable based on price of maintenance, lack of realistic escape route- your car will need 5-10k of servicing every few thousand miles. That means if you somehow could rent it out everyday, every 15-30 days you'll need to get maintenance done on it. This can often take a couple of weeks. Assuming it's every 20 days, it means you'll get just over half the year to rent it out. Beyond this, 15k Miles for a lambo is very high, and resale value plummets. In fact, I've never seen any for sale above 25k miles, which realistically you'll be shooting for, if not above. That means 120k will become more like 50k max exit strategy.

So factor in 6000 a month which you'd be renting, and assume average miles is circa 90 per customer, you'd be approaching 2k miles in under 3 weeks...I mean seriously research maintenance side of things, if you can realistically find a viable way to make that work, then providing you're in the right location, your idea has potential.

I would suggest renting out Porsches, BMW's, and Jaguars.

>911
>M3/4
>F-Type

You mentioned that you're in SoCal.

I'm here in San Diego and there's tons of people that vacation here so anything that's better than their shitbox will be worth it.

No need to go full lambo senpai.