Be careful renting financed or leased cars on TURO *Repo* |
4 months ago |
![]() ![]() |
21734 page views 132 comments ![]() ![]() ![]() |
![]() For those of you renting your vehicles on TURO be very careful. I have owned a rental company for over 10 years now in LA with 30+ cars, many people don't understand how bad Hertz, Enterprise, Avis want TURO gone. It first started with them getting TURO banned from all Major Airports, when that didn't work they have gone the route of getting a third party service to basically snitch to your finance company that you are renting your vehicle. They do this by hiring a service to go on TURO and specifically screen shot license plate pictures and match them to finance companies.
The best thing you can do at this point it NEVER show your real license plate on your photos, they are making it their mission to do a sweep all 2022 on vehicles "illegally" being rented on TURO. For anyone who doesn't know any personal vehicle that is leased or financed is a breach of contract renting a personal vehicle out for profit or commercial use. This is the loop hole allowing these companies to legally come repo your car for being on TURO. This is a pretty low approach the financial institutions and dealerships are talking but on the flip side in 2021 their was a record number of wrecked vehicles who's loans were defaulted on and linked back to being rented on TURO. I didn't know how true this was until it just happen to a friend of mine, he had 4 Charger Scat Packs repo'd by Ally Financial that he had listed on TURO. They just showed up and took the cars. Imagine having not 1 but 4 repos hit your PERSONAL credit. The biggest banks doing this right now are Ally Financial, GM, Ford and Mercedes. Take the necessary steps while you can they are cracking down on personal vehicles being rented for profit. ![]() ![]() |
|
4 months ago |
![]() ![]() | |
![]() ![]() |
| |
|
4 months ago |
![]() ![]() |
![]() ![]() |
Seems like more of an insurance issue no?
I mean if you get in an accident as say an Uber driver, door dash, etc...your insurance company CAN deny your claim if you failed to disclose that the vehicle will be used for work purposes...making the risk of you defaulting on your loan/vehicle more likely |
|
4 months ago |
![]() ![]() |
![]() ![]() |
Me and my girl’s brother are going to the dealership tomorrow to look at some chargers to put on Turo. Thread couldn’t have come at a better time.
Edit- So, buddy at the dealership said it was Ight. We explicitly asked him and other dudes in there as well. They said it was okay. We were gonna get it through the ein but it hasn’t been established for at least two years. He even recommended we not get it for commercial use anyway because we wouldn’t get the warranties. All in all, he said we’d be fine. I told that n*gga, I need it all in writing lol n*ggas we’re trying to hit us cross the head for the wide body joint ![]() Last edited by sensational; 01-21-2022 at 04:07 PM.. |
|
4 months ago |
![]() ![]() | |
![]() ![]() |
| |
|
4 months ago |
![]() ![]() |
![]() ![]() |
This can be avoided if you tell the dealer the cars are going to be used for rental business and buy via LLC. And READ THE WHOLE FINANCING AGREEMENT. There is a lot of sh*t they put in there that you can cross out or not agree to and they will have to let you rock or miss the sale. More times than not they gona let you rock
|
|
4 months ago |
![]() ![]() | |
![]() ![]() |
| |
|
4 months ago |
![]() ![]() | |
![]() ![]() |
i know how credit works and i specifically told em i dont want it ran to other companies. he said he wouldn't. | |
|
4 months ago |
![]() ![]() | |
![]() ![]() |
Turo rages are high as fu*k though | |
|
|
|