Car Rental Business ?

[Aivix231]

Hello Guys

Has any of you done car rental business ?

As now im renting tons of cars out, just to enjoy cars. I can see huge business opportunity. Its quite hard to find cars to rent out.

Also from price point i can see that cars would break-even at 5 months of renting out.

If car cost $5k lets say BMW 730D , you can rent it out at $50/day of course for month its cheaper but still with month it would be $35/day so equal $1k/month

With 10 cars like that, that would be $10k/month biz and of course you would own all cars and enjoy em if you wish.

Any inputs ?

 

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[Claret Mike]

Hello Guys

Has any of you done car rental business ?

As now im renting tons of cars out, just to enjoy cars. I can see huge business opportunity. Its quite hard to find cars to rent out.

Also from price point i can see that cars would break-even at 5 months of renting out.

If car cost $5k lets say BMW 730D , you can rent it out at $50/day of course for month its cheaper but still with month it would be $35/day so equal $1k/month

With 10 cars like that, that would be $10k/month biz and of course you would own all cars and enjoy em if you wish.

Any inputs ?

I guess you would need to consider how many days they would just sit there, insurances, how you would deal with them if they broke down, had accident and had a period of time off the road etc. You would need to consider refreshing your fleet over time so would need to reinvest profit etc too?

Never done it and here in UK, I would not be sure that there is a market to rent $5k cars out (approx £3k).

I do however know of one company that has built a multi-million £ business on buying stock from rental companies and selling these cars. They have contracts with major national rental companies and must make it really easy for them to dispose of the vehicles when they are 1-2 years old. The cars are then sold as 1 previous owner cars.

Also you say it's hard to find cars to rent out - don't you have companies like Hertz etc?

 

[Aivix231]

I guess you would need to consider how many days they would just sit there, insurances, how you would deal with them if they broke down, had accident and had a period of time off the road etc. You would need to consider refreshing your fleet over time so would need to reinvest profit etc too?

Never done it and here in UK, I would not be sure that there is a market to rent $5k cars out (approx £3k).

I do however know of one company that has built a multi-million £ business on buying stock from rental companies and selling these cars. They have contracts with major national rental companies and must make it really easy for them to dispose of the vehicles when they are 1-2 years old. The cars are then sold as 1 previous owner cars.

Also you say it's hard to find cars to rent out - don't you have companies like Hertz etc?

True, but as i did call around 10 companies in my country, most of the cars were away for months. There was huge que for em. So i assume they would be taken away for most of the time

there arent any big companies here. A lot of small ones as i see. AVIS is one big one i know only

 

[100k]

First find a market gap, a need that isn't being met... then look at filling it.

Aren't there already countless car rental companies ? Why should someone decide to go with you over a more established car rental company?

What about event cars? Like luxury cars for weddings or something like that.

Keep doing your research make sure you meet a direct need.

 

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[Aivix231]

First find a market gap, a need that isn't being met... then look at filling it.

Aren't there already countless car rental companies ? Why should someone decide to go with you over a more established car rental company?

What about event cars? Like luxury cars for weddings or something like that.

Keep doing your research make sure you meet a direct need.

Limos goes like 200EUR/day and there are non near my city yet people do get married.

And there isnt much sports cars for rent. As i would like to go more with sports cars. There is need for them, because most of the people are young and wanna get something fast. Also these cars are in que

I can get 1 mentor to teach me how he does, he does work for some other company but im sure he wouldnt say no to extra money

 

[100k]

How do you know there is a demand? Have you researched it, created a website, bought traffic from adwords to your website and taken $100 down payments from people?

Or is this just a feeling you have?

 

[Aivix231]

How do you know there is a demand? Have you researched it, created a website, bought traffic from adwords to your website and taken $100 down payments from people?

Or is this just a feeling you have?

Nope, i actually do rent these cars out.

And before i did call multiple companies and asked if they have that particular car.
And most of them did reply that they are taken, then i asked for how long.

I did get my hands on these cars so far

BMW 645CI
Mercedes 1999 Year CL500 and 2009 CL500

For 1999 CL500 guy did ask 350EUR/week 50/day
And it costs around 6k to buy, before i got it, guys did rent it out for 300eur/4day
I do ask a lot of questions to guy who rent these cars out to see more of inside

Ford Mustang , guy did own 2 mustangs and asked 450/week and they were taken for 2 months already when i did call.
New Lexus GS was also away for months. And few others, i could get decent sports car when i did call. as most of them were taken

So there is certain demand for these cars.

 

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[RadioActive]

You would also have to consider car insurance. $$$$$