Hey there, welcome back. Nate Woodbury here talking about Tesla.
Now, I don't want to make a video bragging that I got a Tesla. I've had a Tesla for over
a year and a couple months. But I just bought another one and the reason I'm
making this video is because I bought this Tesla the second one as a business expense.
The Tesla that I have in Utah it's a family vehicle. When I use it for business
I keep track of the miles but all the payments and everything that's a personal
expense. But this one is a business expense and I'm gonna rent it out on Turo and why am I
in Florida? Why would I have a car out here? Well, it's a tourist destination of course and I've
rented a lot of vehicles out here. So, I'm going to talk you through my thinking of why would I buy
a car out here and then why would I put it on Turo, what is that? Because I'm pretty new to Turo
but in the last several months i've been using a Turo a lot. So, anyway, let's dive right in.
So, I've been expanding my business out here in Florida in the Orlando area. I've got a filming
studio and every time I come out here I need a rental vehicle and because I love Tesla so much
I've been renting Tesla's and I've been using the Turo app.
So, if you're not familiar with Turo it's kind of like Airbnb for private property owners.
Well, for private car owners you can rent your car out on Turo. So, I've been renting
lots of different Teslas from lots of different individual owners using that
Turo app. Up until this last rental the one that I finished using today, it's been a great experience.
I'll show up to the airport. They'll tell me the location of the car where it's parked. It's just
parked in the parking garage at the airport. So, I walk out of the airport into the parking garage
and they tell me yep, it's on level three road g and I go and I use the app that's already on
my phone the Tesla app to unlock the car and give me access to it. So, there's no exchange.
Really, I just show up and go to the car and I'm able to drive away and it's so cool. So, I mean
that's another cool feature of Tesla being able to use the app to unlock it and whatnot. This last
rental that I had the owner of the car runs it his own way did something totally unexpected.
I had to ride a shuttle out to the economy lot which you know that was pretty annoying. The
most annoying part about it is I wasn't told that until I arrived to the airport. I would have rented
a different car. Anyway, so I took the shuttle out to the economy lot show up in the car there's a
ticket used to leave and there was a 260 dollar bill. They had left this car parked in that economy
lot for 25 days. So, maybe this owner of the not this car the one that I just dropped off because I
don't need a rent one anymore I've got my own. But perhaps that owner has a hard time renting it out.
He was just sat there for 25 days. So, maybe I'm up for a heap of trouble. But I've got a
good friend here in the Orlando area that's got a whole fleet of cars including Tesla's
on the app and I've been renting a lot of them and they seem to keep very busy. So, we'll see, we'll see
how this goes. But let me tell you the math, alright. So, depending on the length of my trip when
I've come out here and I've rented a car. I've spent many hundreds of dollars typically it's at
least a thousand, fifteen hundred dollars you know depending on the length of the state. Let's
just make math easy. Let's say I spend a thousand dollars a month, it's been more than that. Certainly
this month it's been probably triple that. Let's do the math. Let's say it's a thousand dollars
to keep it simple, okay. So, every month I'm paying a thousand dollars to rent a rental Tesla
and okay now I'm thinking, what if I buy it? Well, now, if I let's just keep the math easy
let's round it up or down. Let's say I'm paying a thousand dollars a month this is a performance
model y you can look up the stats or the purchase price on that. But let's say I'm paying a
thousand dollars a month for a vehicle that I own. You know, what? That's even better. That is
better and I'm using it for business when I'm out here. But I'm not out here all the time. You know
I live in Utah I'm just out here for work and for business. But to have a car that I actually own and
control and that I don't have to worry about the hassle of what I just did to pick up this.
Not this car the one that I just dropped off. The rental car that I had on this trip. Yeah, so just
not worry about having to rent a car. I mean, that's pretty nice but the fact that I'm going to
put this vehicle the one that I'm driving on Turo and rent it out to others and I'm going to give
them all the perks. I'm going to treat them the way that I've been treated in the other vehicles.
Now, it can pay for itself. So, imagine now I bring in a thousand dollars a month. I hope to bring in
more than that. But let's say that from other people renting my car I can make a thousand
dollars a month that then pays my car payment. So, now not only when I come here for work and I use
a work vehicle to travel you know back and forth to the filming studio and to get supplies and
you know filming gear and everything. Now, I don't have to pay that thousand dollars a month
and then because of the rentals people other people renting this vehicle those rental payments
cover the car payment. You see that? That's what I'm excited about. So,
you know if it doesn't go as good as expected it should still be better than what I've currently
been doing with me renting the cars from other owners. So, it looks like if I do the
math and i've tried to be somewhat conservative like if the car's rented out half of the time.
You know and I put in different rates. I should in five years, should have the
car paid off and should have an additional $50,000 plus you know profit on top of that.
Those are the details about putting it on Turo. If you want to know some details about this car
I got the performance model that seats five. The long-range model seat seven. A friend of
mine ordered his long-range before I ordered this one. He's kind of disappointed he hasn't
gotten it yet. Got the white seats. It's got a blue exterior. I love it. My other Tesla's blue.
Okay, so I admit I don't really use the frunk very often but we'll use it now.
The only one difference I know between this car and the one that I bought a year ago that's in
Utah is i know this car has a heated steering wheel and it's kind of cool it's kind of nice.
Probably don't need it as much here in Florida but in Utah that would be a nice feature.
Alright, I'm on the freeway. Should we try out the accelerator, I'm already going 30 miles
on let me slow it. But I don't want to annoy the the cars back there behind me, alright. Oh, yeah.
Okay, the car that I rented the most recently the one that I had the bad experience on
it was not the performance model and when you hit the accelerator. Wait for the voice to stop talking
navigation. When you hit the accelerator on the long-range model you feel it, it's fast,
But it's not like this thing. This thing does the 0 to 60 in 3.5 seconds
which if you haven't experienced that you've got to experience it. It's... you'll know that
the performance Tesla is the one with the red calipers on the brakes. So you look in the you
look inside the wheels and you'll see the red brake calipers. So, I hope this doesn't come
across does me making a video to brag that, oh I've got a Tesla and I've got a second one.
You know, it is very exciting and I apologize for that side of it, the bragging side of it.
If that comes across that way but hopefully, it's inspiring in that here's a way that anyone can
purchase a tesla have it paid for. But you've gotta rent it out. You've gotta use it as a
business... for a business purpose, right? For those of you that have watched this far
in this episode. Would you mind commenting about what you thought about this episode?
Does it depart from what I've talked about on this channel before or does it add? Did you enjoy it?
Would you like more content like this? I'm filming in selfie mode on my phone. What do you think?
What would you like to see more of? Please comment about that below and we'll see in the next episode.