Travel & Tourism..

[dhanu.rox]

Hello everyone.. i like to know few things. i have two cars. Toyota Premio G superior(2014) & 121 G-grade(2006). i'm planning to giving them for rent. to a hotel or another reputed place. so any ideas about good place to rent it? and i already talked to few places. and i have no clue about charges . so please help me. i wanna know about charges or anything related to this topic.. thank you..

[Watchman]

I don't mean to sound like a wet blanket, but from the stories that I've been hearing about giving a car out on rent lease is quite dodgy. If you don't need the car I think you're better off selling it and investing elsewhere.

[iRage]

Would u or your own trusted drivers be driving them? If not it all depends on how much u value/love your cars. I knew some ppl who had their cars rented and well the cars were somewhat abused and it was a constant attending to issues to keep them acceptable for rental.

[dhanu.rox]

thank u both of u for quick response.. .. well i do love my cars.. i kinda wanted to earn some money u know.. ... that's why i thought of putting in to a company.. seems like its a bad idea ne.. hmm... i got few wedding hires.. i have no idea about charges... if u guys know please let me know.. i hv never done this before ..

[Crosswind]

If you love your cars, don't rent them out. Will you rent out your wife to earn some money?

However, if you have a hooker by the side, you can rent her out and make some money. It's the same with cars.

[Rumesh88]

@Dhanu.rox - Judging by the responses you get you seems to be in the company of some of the fellow forum members who love their cars more than their spouses (). Well in a way they are right! When you give a car out for rent it is not the same as you use it personally. This is why your insurance risk rating goes up by almost 100% when your policy is enhanced to cover rented usage. But still it is not such a bad idea if you know how to go about it. Always make sure you identify the person to whom the car is rented (rather than a company) so that you can maintain a personal relationship. Seek the possibility of entering into long rental agreements that allow monthly servicing of the car at your cost. As for the rates use five year linear monthly depreciation as a rule of thumb but better to do an actual costing by factoring in the cost of finance, running cost and the depreciated value. (If your car is 2.4 mil then monthly depreciation is 40k). I know of a person who began his business with one car rented to one my colleagues 15 years back and now having a whole fleet. But remember we usually get to hear only success stories.