Car Rental Business Advice

[majade13]

Hi there people of A1 Business Forums.

I recently purchased a car on a long term contract and am looking to give the car out for rental/hire to customers. I am looking to start doing this with several vehicles however I'm not sure what kind of information I need to remember when giving a car out for hire?

So a few bits of advice regarding these questions would be very helpful:

1. What do I need to take off my customers?
2. What do I need to give them?
3. What documents will I need to produce/circulate?

Also, any advice in general regarding giving cars out for hire?

Thanks for the help.

[LOS Design UK]

Hi there people of A1 Business Forums.

I recently purchased a car on a long term contract and am looking to give the car out for rental/hire to customers. I am looking to start doing this with several vehicles however I'm not sure what kind of information I need to remember when giving a car out for hire?

So a few bits of advice regarding these questions would be very helpful:

1. What do I need to take off my customers?
2. What do I need to give them?
3. What documents will I need to produce/circulate?

Also, any advice in general regarding giving cars out for hire?

Thanks for the help.

Have you researched this business at all??

show us your steps thus far please...

[Indizine]

you cant just hire a car yourself then re-hire it back out 'just like that'. All sorts of implications and complications in the car hire industry. As above, trough research reuqired which would tell me if you are asking these questions, you haven't done the research needed for a business that absolutely requires it.

[majade13]

The car were purchased on private contract hire and the both parties are aware of the terms of my use and have agreed upon them. However I'm only starting very small, just to evaluate the industry.

However I do agree I need to do more research, however I do not know where to start which is why I'm asking for any information or relevant links that I can get a more thorough idea of the industry.

This is only something I intend to do on the side and have always wanted to get involved in and have waited until I was financially comfortable.

[Paul Norman]

Car hire is about high volume and low margine. The big players get their cars at enormous discounts from manufacturers, run them for low mileage to avoid maintenance cost and risk, and get very high useage percentages.

Or...they specialise in high service levels and expensive cars on a local basis.

If you go rent a car yourself, you will see how the paperwork works.
I would get some insurance quotes too, to get an idea of the costs there.

Biggest risks are:
1. vehicle depreciation
2. customers crashing your car
3. customers incurring fines and you having to pay them.
4. Low car useage rates.

All these can be mitigated.

[getnoticed]

Does your insurance (assuming you have some for re-hiring) cover Corporate Manslaughter?

If not, I would advise researching this asap and not consider trading until you have done so.

[long nose]

Car hire is a very risky business and I am completely agree with Paul Norman,specially with reasons given by him. SO if you want to reduce your business risk you can charge high amount of security from your customer.