What to do with a spare van?

[s2sol]

I've got a spare van at the moment. It's a 7 year old Iveco Daily. I'm reluctant to sell it, because it's not worth a great deal, and it still gets used every now and again. However, the insurance is due next week, and the renewal is just over £1200 (Courier use, with 5 named drivers).

Where the van lives, there are a couple of small businesses who could use a van every now and again. Can I keep it, put them on the insurance, and effectively rent it out to them a couple of days a week? I'm not sure about the legalities of this. For fuel and allocation of wear and tear, it would make sense to charge by the mile. One of the guys just does locals, and the other does marathon multi drops.

I don't want to become a van rental company. I've got too much else going on, but I reckon this could be a relatively easy way of having the spare van earn its keep.

[JM]

I think you may need to check your insurance includes use for "hire and/or reward" or similar phrases.

Would it be any cheaper for any driver cover rather than numerous named drivers? I had a van on an any driver policy and it wasn't much more than 2 named drivers.

[s2sol]

Insurance could be the stumbling block. At the moment it's insured for carriage for hire and reward. My interpretation of that is that I can use it in my business as a courier, but I almost certainly couldn't hire the van out to other people.

[Scottish_ninja]

track it.

[s2sol]

I'm not worried about where it is, just if my insurance would cover what I propose.

[redgriff500]

You'd need different (expensive) cover.

Plus liability cover.

[s2sol]

What sort of expensive cover?

[redgriff500]

Van rental.

Ask your broker.

I bet its twice as much.

[wolfie1978]

plus you'd probably have to declare it and any profit made would be taxable

[s2sol]

Declaring it's not a problem. I'm a VAT registered sole trader. Van rental insurance would be a problem, since it's just not worth the hassle. I'm only looking to cover the running costs, not make a living at it. If it's not worth doing, I'll just get rid of the van. Or make it into a camper.

[jsg612]

Take out a personal insurance policy and convert it into a camper... Don't know why but I've got a strange urge to do the same one day.

[bamberwell]

Scottish_ninja said:

track it.

+1!!!!!
i have a van i don't use........makes a great waterproof shed

[hairyben]

Potentially a lot of hassle no?

If it breaks down- and an old van especially one driven by non-owners will sooner or later, you be facing a demand for a replacement vehicle ASAP or at least a call to tell you "your vans been abandoned in xx high street, your problem now". Hire co's have people/vehicles to deal with this.

[s2sol]

The guys that would use it would be people that I've known for a few years. I've got good breakdown cover - I can't afford for a van to be off the road either. In the last 7 years, I've only been stopped twice, when a turbo blew and when a bowden cable snapped, leaving me stuck in 1st.

I may have misread the track it answer. I'd love to take it to a track day, but I've got too much mechanical sympathy it.

[E31Shrew]

Convert to a camper. You'll be smelling of pee and cabbages almost instantly

[s2sol]

Ah, st. Really? I hate cabbages. I'll torch it.