Renting one's vehicle out...

Renting one's vehicle out...

Author
Discussion

AC123

Original Poster:

1,115 posts

153 months

Monday 2nd October 2017
quotequote all
Hi

I'm barely using my V8 Vantage and wondered whether it's worth renting it out to people? I see it's a growing market and a number of companies springing up offering to take the hassle out of it. Worth going through one of them?

Alternatively, if I was to organise it all myself, how do I go about getting appropriate insurance for randomers to come and drive it?

Thanks

kiethton

13,883 posts

179 months

Monday 2nd October 2017
quotequote all
I personally wouldn't but I am very precious about my car.

How would you offset the income from doing so against the new clutches/tyres required (these people are not going to respect your car) and being mechanical components/consumables aren't really picked up on return condition reports

AC123

Original Poster:

1,115 posts

153 months

Monday 2nd October 2017
quotequote all
I don't get too attached to them, they're only bits of metal.

I would hope that the rental value would cover consumables?

montecristo

1,043 posts

176 months

Monday 2nd October 2017
quotequote all
You could price the risks in objectively. Tyres £300 each, clutch £3,000.

Rentals come with mileage limits which are expensive to increase, so say a weekend rental does 300 miles (London to the Cotswolds and back). Generally, people don't intentionally drive these cars badly when they rent them, and some of the renters will be better/more careful drivers than you are. If you need a new clutch every ten rentals, say, which seems extreme, that might still earn you £10K for an outlay of £3k.

matrignano

4,344 posts

209 months

Monday 2nd October 2017
quotequote all
I applied to one of the Apps that's like AirBnb for your car, they rejected me in the end cause their underwriter (Allianz) wouldn't cover AM Vantages.
Think the most exotic cars they had on there were Porsche Caymans and RRS...

Steve57

2,159 posts

241 months

Monday 2nd October 2017
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Having just hired a Tesla Model X for a wedding i would strongly advise against it. a 17 plate car thats done 9k miles, yet all wheels kerbed, stone chips on the whole front end and windscreen and generally in poor condition for what it is.

jammy-git

29,775 posts

211 months

Monday 2nd October 2017
quotequote all
PH user MrH has a business offering this service, I'd recommend talking to him if you're seriously considering it.

As above though, for something exotic and expensive I doubt the rental income would pay for the wear and tear on the car.

rich12

3,461 posts

153 months

Monday 2nd October 2017
quotequote all
I don't think (please don't take offence) that a V8V would do very well. If it was very cheaply priced then maybe but then you're hiring to the wrong type of people.

I'd say a weekend (Friday to Monday with 300 miles) you'd probably get £700-£800 for it.
Take out insurance (Circa £150 for the weekend)
30% Commission for the company

I honestly wouldn't bother. You'll be lucky to get more than a few hundred quid for a weekend and in my opinion, it isn't worth it.

Soov330e

35,829 posts

270 months

Monday 2nd October 2017
quotequote all


http://www.dailymail.co.uk/news/article-2098942/St...


This Vantage belonged to a PHer.


Read. Learn.

Du1point8

21,604 posts

191 months

Monday 2nd October 2017
quotequote all
Who had/has the Lambo with the 200-300k of mileage that he bought and partly funds by allowing people to do track days with him sat next to them.

It was a 54 orange Lambo (brand new) so has been going for some time.

He has had at least one, maybe 2 major rebuilds due to crashes.

KevinCamaroSS

11,553 posts

279 months

Tuesday 3rd October 2017
quotequote all
Du1point8 said:
Who had/has the Lambo with the 200-300k of mileage that he bought and partly funds by allowing people to do track days with him sat next to them.

It was a 54 orange Lambo (brand new) so has been going for some time.

He has had at least one, maybe 2 major rebuilds due to crashes.
That is Simon at 6th gear experience I think. The company has lots of exotic cars, all used for track experiences as any other track experience company.

Soov330e

35,829 posts

270 months

Tuesday 3rd October 2017
quotequote all
Du1point8 said:
Who had/has the Lambo with the 200-300k of mileage that he bought and partly funds by allowing people to do track days with him sat next to them.

It was a 54 orange Lambo (brand new) so has been going for some time.

He has had at least one, maybe 2 major rebuilds due to crashes.
simonspider.

Du1point8

21,604 posts

191 months

Tuesday 3rd October 2017
quotequote all
Soov330e said:
Du1point8 said:
Who had/has the Lambo with the 200-300k of mileage that he bought and partly funds by allowing people to do track days with him sat next to them.

It was a 54 orange Lambo (brand new) so has been going for some time.

He has had at least one, maybe 2 major rebuilds due to crashes.
simonspider.
Thats him... not sure why it escaped me who he was.

Ta

AC123

Original Poster:

1,115 posts

153 months

Tuesday 21st November 2017
quotequote all
Never got round to doing this... annoying as the car is just sat there most the time. Just can't find an insurer to cover it.

fido

16,752 posts

254 months

Tuesday 21st November 2017
quotequote all
Fleet car insurance for any driver should do it .. not really worth it for a fleet of 1 though. smile

Junior Bianno

1,400 posts

192 months

Tuesday 21st November 2017
quotequote all
AC123 said:
Never got round to doing this... annoying as the car is just sat there most the time. Just can't find an insurer to cover it.
Why not rent it out through Turo.com? Vantages and much more exotic metal on there, and they get a pretty rep as far as I can see.

anonymous-user

53 months

Tuesday 21st November 2017
quotequote all
fido said:
Fleet car insurance for any driver should do it .. not really worth it for a fleet of 1 though. smile
It wouldn't work.

OP - you would need a platform like Turo, as no one will offer cover for 1 vehicle.

I doubt it will generate anything like even half decent money.

Stormfly1985

2,698 posts

165 months

Tuesday 21st November 2017
quotequote all
If it's just gathering dust, surely just sell it then rent one on the odd occasion you want to drive an Aston?

AC123

Original Poster:

1,115 posts

153 months

Tuesday 21st November 2017
quotequote all
I will have a look at Turo, thank you.

Struggling to sell it, going to try again in the Spring.

Frimley111R

15,535 posts

233 months

Wednesday 22nd November 2017
quotequote all
Stormfly1985 said:
If it's just gathering dust, surely just sell it then rent one on the odd occasion you want to drive an Aston?
Makes more sense to me.