morcus
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| posted on 13/9/09 at 05:58 AM |
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Renting out a car.
I had an idea the other day and was wondering if it was at all viable to do up a car and rent it out to make a bit of dosh, does anyone know anything
about this? The main thing I'm confused about is how you would insure the car, would it have a special policy or would it have a normal one for
me and special short ones for the people renting it?
If it makes any difference the cars I'm considering are a Jaguar XJS or XJ6 Coupe (Posibly as a broadspeed replica) or a porsche 944.
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Ben_Copeland
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| posted on 13/9/09 at 06:18 AM |
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If you intend to run it as a business then you'd need special insurance. Hire cars are generally abused and bashed about by people who dont
really care.
Couple of claims and your insurance company would soon get wind of something.
Theres a few companies that pop up in google, worth a try for some quotes
Ben
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morcus
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| posted on 13/9/09 at 07:07 AM |
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I'd never do it without propper insurance, its far too risky and could black ball me for insurance in the future.
Hire car abuse shouldn't be as much a problem for a specialist car.
I'll take a look and see what they say when I wake up.
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Ninehigh
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| posted on 13/9/09 at 07:22 AM |
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quote:
Originally posted by morcus
Hire car abuse shouldn't be as much a problem for a specialist car.
It wouldn't be so much of a problem if before they handed over the keys they checked over the vehicle in front of you (had a hire car a couple
of times and they didn't even check it afterwards!)
So yeah if you're going to do it then check over the car with the customer first, protects them and you because you both know that scratch was
there before they got in.
As for the insurance, iirc it's an "any driver" policy under the business
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omega0684
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| posted on 13/9/09 at 09:51 AM |
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i used to work for Enterprise rent-a-car and the only person that was allowed to drive the car being rented was either the person signing for the car
on the rental contract or any nominated driver who had to provide their driving licence details at the rental office when the car was being rented.
you couldn't have more than 3 people on the rental contract who were able to drive the car at any one time, and again all drivers had to provide
proof of driving licence.
also in the small print there were several conditions that applied to the rental contract things like,
1, the car cannot be used for toeing
2, the can cannot be used under the influence of drugs or alcohol,
3, the car cannot be used in any activity that will cause financial gain, i.e be rented to another person or used as a taxi etc
and so on, i don't know what its like with other companies but most are the same in the fact that you can't use the rental car for
activities that cause financial gain to the renter, i would certainly read threw the rental contract before you sign anything, in my 2 years
working for enterprise i can hand on heart say that i never saw one customer read the terms and conditions of a rental contract and then when they
damage a car or get billed for repair they say " well i was never told that" but it was all written in the contract they neglected to
read
Alex (ex enterprice branch manager)
[Edited on 13/9/09 by omega0684]
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ReMan
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| posted on 13/9/09 at 10:19 AM |
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Theres few specialist hire co's doing what you intend.
You've only got to look on Ebay for Aston Martin for instance.
There is specialist insurance for everything, think business, not personal everyday insurance!
There are also agencies that you hire cars to for film use, they may help too
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morcus
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| posted on 14/9/09 at 12:33 AM |
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Omega, I'm slightly confused by some of what you've written, It must be that I'm tired but it read like you thought I was going to
rent a car then let other people drive it (the highlighting of the point about what you can't use it for).
I would obviously have a rental agreement drawn up (and would probably seek legal advise to make sure it was solid).
Thanks for the replies though, most usefull.
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