Self Drive Hire

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M

MLRHAS

  • #1
    Hi all
    I know that there has been a thread on car rental insurance which is 7 years old, I am hoping to get some updated info on a slightly different scenario.

    I am considering offering my Land Rover Defender for Self Drive Hire and would like to know if anyone has any experience in this?

    1. What sort of insurance would I need?
    2. Are there any other legal aspects that I should consider?

    Any input/info would be greatly appreciated.

    Thanks a million.
     
    C

    ComPropSolicitor

  • #2
    This sounds like a lot of trouble (for just one car). Unless, you are meaning that you have others to rent out eventually as well. For example, what happens if the car is late back or someone takes it for the day and you have someone in the next but then the first person decides they want it for three days. Nightmare. Would need to give it some more thought. Would also expect the insurance solution to be particularly expensive.
     
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    M

    MLRHAS

  • #3
    ComPropSolicitor said:
    This sounds like a lot of trouble (for just one car). Unless, you are meaning that you have others to rent out eventually as well. For example, what happens if the car is late back or someone takes it for the day and you have someone in the next but then the first person decides they want it for three days. Nightmare. Would need to give it some more thought. Would also expect the insurance solution to be particularly expensive.
    Click to expand...
    Thanks so much for your response... The idea is to ultimately have a few vehicles but it would have to be one vehicle for now. I certainly don't plan to have a massive fleet. 3 to 4 max. The challenges you mention are things I'm going to have to plan for but I need to start somewhere.
     
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    C

    ComPropSolicitor

  • #4
    No worries - not trying to poo-poo your idea. But, just thinking that this is a highly competitive area of business to be in so wouldn't want you to take any major risks. I have hired cars and vans and things before and always got the impression that its hugely competitive and must be very low margin - with most services going for the do thousands of rentals for peanuts as opposed to less cars and higher prices approach.

    I would think with one car you would struggle. I hired a brand new transit for a whole weekend for 49 quid. For example. Not sure on insurance but that must have cost them at least half of that cost plus there is general wear and tear etc to factor in.
     
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    M

    MLRHAS

  • #5
    ComPropSolicitor said:
    No worries - not trying to poo-poo your idea. But, just thinking that this is a highly competitive area of business to be in so wouldn't want you to take any major risks. I have hired cars and vans and things before and always got the impression that its hugely competitive and must be very low margin - with most services going for the do thousands of rentals for peanuts as opposed to less cars and higher prices approach.

    I would think with one car you would struggle. I hired a brand new transit for a whole weekend for 49 quid. For example. Not sure on insurance but that must have cost them at least half of that cost plus there is general wear and tear etc to factor in.
    Click to expand...

    Yeah I get what you're saying. On the other hand. I wanted to hire a Defender for a friend to join me on a trip and the rate was £140 per day and they are booked up until Sept... Crazy!
     
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    WaveJumper

    WaveJumper

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  • #6
    I think its one of those areas the big boys (or girls) win by sheer numbers, insurance is probably going to be your biggest headache / expense then of course you will probably need breakdown cover like above I have hired cars over the weekend for ridiculously low rates. Not trying to put you off phone around and get an idea of the costs involved, run the numbers and see if you can compete with the current market ................ ever thought of trailer hire, open trailers box trailers ?
     
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    JEREMY HAWKE

    JEREMY HAWKE

    Business Member
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  • #7
    It wont make any money and it may cost you money
    The insurance companies changed the way they do things around 10 years ago and it has made it impossible to run a small hire company as a going concern on its own .
    You will find that most small hirers are part of another business where there are two or three other activities going on at the same site .
    Many small hires have shut down in the last decade and the spanner work on a LR is like looking after a jumbo jet evenmore so when the warrenty has run out
     
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