I’ve been having very good success with loaning my cars on Turo. I’ve heard from multiple people – including an enterprise employee – that there is a rental car shortage. Based on the time the first person mentioned this to me, the shortage has been going on for at least one year.
I have questions that will ultimately lead me down a rabbit hole. How can a rental car companies have a shortage of vehicles when they could buy from Carvana or Vroom? Another question is do rental car companies by only brand-new vehicles? I don’t know these things.
If I were not a Turo host, I would likely not be concerned about any of it. What I do want to understand is if my own success is due in part to the rental car shortage and whether or not I should consider buying more vehicles to expand the business.
Buying more is definitely a gamble., And naturally I don’t want to run into a situation where my vehicles are earning less than break even amounts of income. That would be a terrible situation, and depending on the circumstances that caused it, a situation I might not be able to get out of without selling off a vehicle.
Right, so I want to understand the shortage so I can anticipate what might happen with my future with Turo. I’ve said all this to say that I don’t have rabbit-hole free time at the moment.