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Buying a Plaid and Putting it on Turo for Oahu, Hawaii?

Deaf Paul

Member
Supporting Member
Apr 9, 2023
201
88
Oahu, Hawaii
Talk me into or out of this. 😅

I've been lusting after a Plaid for 3 years now, but as a public school teacher living on Oahu a 100k+ car is more or less out of reach of a sane individual.

I love outrageous cars though. They're my hobby and passion. I'm always picking up extra tutoring jobs after school and on weekends to support this habit as I'm very loan adverse and always advise others to NOT ever take a loan on anything other than a home purchase unless the rates are insanely low or zero. I've been scrapping the bottom of the barrel with cool car purchases the past several years. Some of my recent cars that I've bought and then sold over the past decade: A WRX STI, a beat up Lotus Elige, a 100k+ mile modified drift Viper GTS, and a mildly restored '59 Cadillac which I sold last month. I once took out a loan on a C7 Z06 sold used by a dealer, but that lasted all of 3 months - I could not stop thinking about the loan hanging over my head and the interest I was paying so I decided to sell. It tuned out that I was able to sell that car for 9k more than I paid for it from a dealer so that worked out shockingly well.

I plan to own a Plaid one day when they become more affordable on my salaries and have been excitedly watching the used market on these take a hell of a beating (sorry guys, sucks so bad to be most of you I know).

I have never driven one. I've ridden in one several times two summers ago (thank you @Dameon ) and liked what I saw/felt. When I visited family on the mainland last summer I searched high and low for one to rent on Turo so I could get a taste for it. Could not find one in southern CA so I went with a regular '22 S for a week. Liked it, but it didn't blow my socks (the airbag module did fall out of the steering wheel into my lap twice under hard acceleration - yay for Tesla quality). Still want to go all-out to a Plaid some day.

A few weeks ago (I check daily) I noted that there was a Plaid in the local inventory for nearly 10k off. In the color I would want especially in the tropical sun of Hawaii (white). A hair under $100k. I have 50k saved up. Taking out a loan for 50k especially at these rates would cause me many a sleepless night, so that was a no. However, was thinking after sumbling across a few youtube videos about Turo success stories (albeit with cheap and reliable cars)...

Would there be enough of a demand to make it financially feasible to do this with a Plaid on Oahu? Would you do it if you were in my shoes?

Talk to me.

-Paul
 
Not an S owner but I can't even imagine putting my MYLR (that's less than half the price of an S Plaid) on Turo. People beat the sh*t out of rentals. I think this is just asking for trouble and wouldn't even consider it myself.

Maybe use it to drive Uber or Lyft if you can cover the back seats enough to protect them from wear (and vomit)? Or maybe get some type of livery license/permit so you can do high-priced airport rides. Anything but letting strangers drive it unsupervised.
 
Didn’t read all that but if you’re fine with having your $100k+ car trashed, beat on, and potentially crashed then sure.

I wouldn’t do it personally for a car I really dreamed about owning and took any pride in. You need to have zero emotional attachment to the cars and just treat it like a business asset.
Just like you, this would be no different than renting out my bed to a total stranger......

I would never do that. To the OP, think about the reason why anyone would want to rent a Plaid.

To feel the power ! Which means the car will be abused often.
 
Yes, I would expect a Plaid to be flogged and abused, and would need to replace tires more frequently than most. I'm well aware of that. What I'm trying to figure out - Would the numbers make sense after a few years of tire replacements, down time for Tesla warranty repairs, the higher cost of insurance to get it properly insured as a rental, etc? That's what I'm unsure about and I'm skeptical that I would come out smelling like roses or so to speak in the end versus just saving up for another year or two and buying a one-owner 60-70K price point (which just as likely could have been flogged as hard or even harder than a rental)... Keep the feedback/thoughts coming.

-Paul
 
I've rented numerous Tesla models in both coasts of US, Italy and France. I've rented Y Performance, various S and X. The owners all suggest that they're having good experiences renting with Turo.

However, I own a Model S Plaid. I know people rent Ferrari, Lamborghini etc, but a Model S Plaid is just too easy and too fast; for an inexperienced driver it could easily be lethal. When I bought mine I gave it a full prep and wrap. My detailer had just done and delivered on the previous day, and the owner promptly drive away, crashed and killed himself and two passengers a few hours later.

IMHO in Oahu it just might even be even more risky, given the tourist-oriented Euro market.
My suggestion: don't do it!

OTOH, you might be able to get a great deal on a used Plaid on the mainland, especially in California. Then you might be able to keep it for yourself.
 
Rented my former 2021 M3 SR on Turo and was ok..until it wasn’t. About 7-8 drivers in, someone took it off roading through camp trails etc and rocks and mud all inside and out. Literally Trashed it. Scratches on it within 4 months.

Sold it. Never again. Replaced with my now 2022 M3 LR…not for rent..ever. Don’t devalue your car!
 
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If you want a revenue stream get a cheap hybrid and rent it out on turo. I used it there myself and greatly welcomed.

I'm not looking to start a profitable business - My teaching schedule would not be a good fit due to not being able to drop off/pick up cars at will for customers, and I live a ways from the airport. Just looking to see if it would be profitable enough to offset the loan, tire replacements, interest charges, depreciation and still come out solidly ahead pending any crazy off-roading horror stories.
OTOH, you might be able to get a great deal on a used Plaid on the mainland, especially in California. Then you might be able to keep it for yourself.
I've been watching the used market daily especially on the two facebook groups. Lowest deals are posted in the 70K range. I've heard about a couple that were scooped up at the 60k range but they were not posted and were insider deals - people who knew the seller already. a 75k Plaid is still almost 25k out of my current budget. Then I'd have to factor in shipping it over and buying sight unseen, and getting a '21 without the updates...

-Paul
 
Local guy in Vegas did this with a plaid after I specifically told him how dumb it was for a month straight. He didn't listen.

His car was crashed 3 times in 2 months and the third crash caused it to be in the shop for 4 months iirc.

He no longer puts it on turo.
 
Take your $50k and buy 2 cars in Kauai and Turo it there. I was there last year and there were hardly any Uber drivers. Rental cars were pretty expensive too so opted for Turo. Met a guy that had 5 cars on Turo and they were all paid off using the Turo income.

Anyways, the 2 cars for about $50 day each should give you an income enough to buy you your S and also return your investment very quickly.

Good luck!
 
It crossed my mind but I’m glad I didn’t do it with mine. It would’ve been really painful to watch how people will abuse and totally trash these cars on Turo. No way, not on a Plaid. A 3 or Y are nothing special but to me a Plaid still is and it would hurt. Only I can abuse it, lol.
 
Talk me into or out of this. 😅

I've been lusting after a Plaid for 3 years now, but as a public school teacher living on Oahu a 100k+ car is more or less out of reach of a sane individual.

I love outrageous cars though. They're my hobby and passion. I'm always picking up extra tutoring jobs after school and on weekends to support this habit as I'm very loan adverse and always advise others to NOT ever take a loan on anything other than a home purchase unless the rates are insanely low or zero. I've been scrapping the bottom of the barrel with cool car purchases the past several years. Some of my recent cars that I've bought and then sold over the past decade: A WRX STI, a beat up Lotus Elige, a 100k+ mile modified drift Viper GTS, and a mildly restored '59 Cadillac which I sold last month. I once took out a loan on a C7 Z06 sold used by a dealer, but that lasted all of 3 months - I could not stop thinking about the loan hanging over my head and the interest I was paying so I decided to sell. It tuned out that I was able to sell that car for 9k more than I paid for it from a dealer so that worked out shockingly well.

I plan to own a Plaid one day when they become more affordable on my salaries and have been excitedly watching the used market on these take a hell of a beating (sorry guys, sucks so bad to be most of you I know).

I have never driven one. I've ridden in one several times two summers ago (thank you @Dameon ) and liked what I saw/felt. When I visited family on the mainland last summer I searched high and low for one to rent on Turo so I could get a taste for it. Could not find one in southern CA so I went with a regular '22 S for a week. Liked it, but it didn't blow my socks (the airbag module did fall out of the steering wheel into my lap twice under hard acceleration - yay for Tesla quality). Still want to go all-out to a Plaid some day.

A few weeks ago (I check daily) I noted that there was a Plaid in the local inventory for nearly 10k off. In the color I would want especially in the tropical sun of Hawaii (white). A hair under $100k. I have 50k saved up. Taking out a loan for 50k especially at these rates would cause me many a sleepless night, so that was a no. However, was thinking after sumbling across a few youtube videos about Turo success stories (albeit with cheap and reliable cars)...

Would there be enough of a demand to make it financially feasible to do this with a Plaid on Oahu? Would you do it if you were in my shoes?

Talk to me.

-Paul
I'm a little amazed that you would even consider it - the renting out that is, not the wanting a Plaid. So, as you have asked here, please take the good advice offered and don't do it.

Wait until, with extra work, you can save for a sufficient deposit which will leave you with a manageable loan balance on say, a year old well cared for low mileage car.
In the meantime, occasionally hire a Plaid and have yourself a blast* 😳You will then realise that you made the right decision😉.
* But be safe🙂
 
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Looks like there are no success stories out there so I’m not going to wonder any longer about this angle. Thanks for all the input guys. Will keep saving and waiting.

-Paul

If you want to feel better about your decision to abandon the Plaid Turo idea, here is a popular YouTuber that tried and failed with that idea.