What about a classic car renting business?

[747mopar]

I was approached by 2 seniors last year, didn't know either of them but both thought it was perfectly acceptable to ask to rent my car? All I had to say was.... It's a standard

Edit.... High school seniors.

 

[#41]

Certainly its possible. I think the challenges would be 1) high enough prices to cover the maintenance work. It would be a lot more than rental companies who typically have new cars. When cars broke, they would also probably be out of circulation longer. 2) brakes, steering, handling, and especially safety are outdated compared to newer cars. You'd need good insurance and ironclad waivers for drivers to sign. Lastly, you'd need someone to constantly run around and save the drivers who flood the carbs or can't get them started (being used to fuel injection).

 

[GMP440]

Did somebody over here ever thought about (or actually did) renting out classic american cars?
This idea pops up in my head from time to time and i think it would be a fun way of making money and great justification for having multiple classic cars.

But one the other hand i just recently did some calculating (without knowing exact costs, especially insurance) with 5 cars and it looks like you would have to rent them out quite frequently to make a profit worth the effort and investment.
In my calculation about 1 day per week (4 per month) and car. (if you have 5 cars, 5 rental days per week)

Im not sure if my "round about calculation" is right and if it would be realistic being able to rent the cars out that frequently, though.
Maybe 10 cars would be better but at this point there's also a lot more investment necessary up front.

Anyway whats your thoughts on this.
Do you think it pays off?
Did you ever do it yourself? Did it worked out?

Of course it makes no sense (at least for me) if you would invest lots of money earning less and having more stress than just picking up a normal job.

Instead of owning the cars, just be a service where you have classic owners registered with you and you just act as a booking agent. When a customer contacts you to reserve the vehicle , then you do the booking.

 

[oldbee]

I was approached by 2 seniors last year, didn't know either of them but both thought it was perfectly acceptable to ask to rent my car? All I had to say was.... It's a standard

I resent that!! Even drove a column shift 4-spd Mercedes one time.

 

[Ron H]

My daughter lives in Miami Beach, so wife and I would go there a couple times a year. As I posted earlier, there are places that rent out flashy cars (new/newer foreign exotics) then ya see them running up and down Ocean or Collins sometimes like idiots given the throng of pedestrians all over the place. Maybe they have them governed, if not, geez, they lose control possibly crashing into dozens of people. Most of the time traffic is backed up anyway. I avoid driving when I can as it's easier to walk to most places we usually go to. Parking is a nightmare and had fun (not) driving a big rental truck through MB moving our daughter there. There's also services that will take you on a personal tour in an old convert with you sitting in the back while the driver wears a microphone giving their tour talk. I usually see an older lady in a powder blue '60 Ford vert with a couple in the backseat. One hotel has a late 50's Edsel and Buick parked out front.

 

[Michael_]

Well of course im not thinking about renting out personal cars or really expensive ones or ones in really nice shape.
Those would be bought strictly for renting them out + having some fun with them myself on the side.

I realized there are quite a few companys in germany doing it.
As are in the united states.

Well rates would be pretty expensive with about 400 bucks per day or so. (again i dont have exact figures so far)
This of course includes taxes, maintenance costs and insurance.

But again im just not sure if there would be enough renters to make a profit worth the effort.
Thats my main concern. Having 5 cars i would have to have at least 20 rental days per month i suspect.

 

[68gtxman]

My sister’s brother in law started an exotic car entail company in NJ. He had a stable of 10 exotics and an enclosed trailer. The renters had to sit through a 30 minute orientation briefing and go through a background check. I am not sure of the paperwork, but I know that he had at least a half dozen cars totaled. If. The renter is not driving at the time of the accident, he had no insurance on it and had to pay the full price of replacement or repair. One cop rented a Viper and he killed his partner who was riding shotgun in it.

Many clients just want to rent the most expensive vehicle and they didn’t even want to drive it. The most expensive car (10 years ago) was a Lamborghini, but I forget the rate. The company didn’t provide drivers, so the client had to hire a chauffeur. Many Indians wanted these for their wedding.

I asked if he would rent my GTX out and he said no way. Too much trouble with old cars and carburetors. Plus they break down too often to be a reliable rental. I listed my GTX and Barracuda with a movie rental company in north NJ, but never received a call yet.

If you rent your car out, do the driving for the clients yourself.

 

[conv67bdere]

I can't even leave my "daily driver" car in a parking for 10 minutes without someone dinging the door with their car door - people don't care about anybody else's property anymore . . .

I'd say . . . No, not interested . . .

 

[Cojohnso1]

I'm very sure (Depending on your state) muscle era cars would not pass safety or environmental standards for any rental license. There may be small nitch in certain areas that is possible if number of vehicles are low.

You might be better off buying newer lower end Challenger. Mustang and Camaros and convert body to muscle car appearance using after market panels? Not sure the manufactures would be too happy with you. Or the classic car crowd.

 

[Cojohnso1]

Leasing them on 1-2 year consignment may be possible? You will need a dealer license. And terms of lease will likely not be competitive with new lease cars.

 

[747mopar]

I resent that!! Even drove a column shift 4-spd Mercedes one time.

Seniors as in high school seniors.

 

[1967coronet]

View attachment 1003984
I justify nothing. I wouldn't let anyone that has no investment in any of my cars even sit behind the wheel.

I had to copy that one Jerry.
That little guy cracks me up each time I look at him.

 

[Jerry Hall]

I had to copy that one Jerry.
That little guy cracks me up each time I look at him.

Where do you think I got it.

 

[MoparLeo]

Just remember that business is business. The cars that you would rent out would have be thought of as just inventory. Not your babies. Just think of it as a normal rental car business, same procedures of maintenance, insurance, rent, payroll etc... just a different type of car. Pricing is always dictated by your market. would only, obviously be a fair weather business . Just do your research and talk to a business lawyer.

 

[kiwigtx]

It's bad enough using your car as a wedding car - spend hours if not days getting it all ready, then you tell them 'No Confetti', and you still end up with confetti or other **** left on the carpets. The worst is when the bride has to be sprawled all over the hood.

I have used my GTX for about 6 weddings, and while they pay a decent 'donation', it is not a good rate per se, given the effort involved and the after-clean needed. Transporting cakes & flowers in the trunk is fine, but when you have 4 heifers in the passenger seats....it's gets old real fast.

So far no-one has asked me to use my A100 for a wedding....I guess the need for 'Red-neck' themed weddings isn't here yet.

Father & Son at one of the weddings I did...Al used to own my GTX back in 1976, and his son can be seen in the only other GTX here in NZ up until 2000+...

the other GTX...

Another wedding in the city...took a few kids for a skid around the wharf area while the guests were arriving..(this was taken at a local lookout over the harbour)

One for an old ex-work colleague....

Others are on older disc's.

 

[Ron H]

The thing with a 'muscle car' is often speed and burnouts aside from how cool they appear to those who don't have one and would like the experience of driving one. We're what, 30 years out now with mostly front wheel drive cars? Good percentage of those having acquired their license since may not have ever driven a RWD car much less a manual trans. I've had fun (not) teaching a few people how to drive a stick...success and not. So just pondering as risky of an idea this is, I'd nix a few things: Auto only and max HP around 300...mild SB motors. Just no way ya put someone behind the wheel of a car with mega-power who has driven a Honda or Fusion all his life. Bad enough for the guys who own them and crashed them. Guy I shared a space with at an in-door auto show had this kickass Charger he spent a fortune getting built. No expense was spared then he decides 425 HP isn't enough for him and has the shop re-do the motor adding another 200 HP. Not long after he wrapped it around a pole. I don't know, some with the cash can buy a new Stang or Challenger with mega-power; but it's theirs to wreck. I'd have to ask some I know in the insurance industry about coverages...I'd guess real cost prohibitive. Keep an ancient car road worthy, etc. a stretch and if something goes awry causing an accident, good luck defending this in court.

 

[YY1]

There are classic (and exotic) car rentals and Harley will rent you a classic motorcycle.

Been there for at least a decade.

If the cost and repairs of the inventory doesn't sour you, I bet the liability insurance will.

 

[oldbee]

Seniors as in high school seniors.

LOL, my mistake!

 

[Ernie ingling]

Check out Hertz rental of cobras in the late sixties. Could answer your questions

 

[Chargerjase]

The worst is when the bride has to be sprawled all over the hood.
Apart from a blue forum post, do you mean like this;