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Old 05-01-2019, 10:02 PM   #1
stablab
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Default Car Needed for 6 Weeks

Do you have a car sitting around this summer? Want to loan it out and make some cash? We need a car during our vacation around the Lakes Region. Will provide own insurance. Needs to be reliable and in good mechanical condition, we'll just use it locally for 6 weeks or so. (end of June - begin August). Non smoking only please! $150/week cash.
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Old 05-02-2019, 06:50 AM   #2
upthesaukee
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Default Owners beware

Not to put a wet blanket on the original poster's plan, but there would be a huge liability risk in allowing someone (not known to you) to use your car, even if insured by them. (Even if they are able to obtain coverage for a vehicle they do not own- no insurable interest) As the owner, any liability claim will extend to owner if the claim exceeds the limit of liability. One other point is that the owner's personal auto policy will likely exclude coverage if the vehicle is rented.

Sorry stablab, but from an owner's perspective, not a good idea.

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Old 05-02-2019, 08:05 AM   #3
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How about a sale and repurchase?

Would that work?

Sorry but I have no car to offer.
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Old 05-02-2019, 08:56 AM   #4
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Upthesaukee, my auto insurance covers me for rented vehicles. I decline rental insurance whenever on vacation. Iím in MA, is NH coverage different?


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Old 05-02-2019, 09:30 AM   #5
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Quote:
Originally Posted by The Real BigGuy View Post
Upthesaukee, my auto insurance covers me for rented vehicles. I decline rental insurance whenever on vacation. Iím in MA, is NH coverage different?


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Your own car insurance most likely does not cover you for "Loss of Use" by the car rental company. If you "rent" your car to stablab above and there is an accident, you do not have use of that car until it is fixed, which can take months if there are parts that are unavailable. Most credit cards offer some coverage for this risk but you need to check.

Also, regular insurance does not provide coverage if you rent it out, i.e. allow your vehicle to be used commercially.
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Old 05-02-2019, 09:33 AM   #6
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Quote:
Originally Posted by The Real BigGuy View Post
Upthesaukee, my auto insurance covers me for rented vehicles. I decline rental insurance whenever on vacation. Iím in MA, is NH coverage different?


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There's a difference between renting a vehicle from a rental place (they have insurance) and an under the table rental as this is not part of the insurance policy. Similarly, if you rent your house through Airbnb you have more protection than if you take an under the table renter. The car or home owner might be able to obtain a rider for a short term rental of either home or auto, but asking and gathering information first seems prudent. If nothing goes wrong with a rental, great. If something does, it is far better to know the risks up front rather than learn about them after the fact...
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Old 05-02-2019, 09:43 AM   #7
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I guess it would depend on the vehicle, but $150 is not much to cover wear and tear and risk. I'd also be concerned with a new member with no history. At least we know FLL would provide foam noodles to protect from door dings!

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Old 05-02-2019, 09:53 AM   #8
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There are apps for this. Turo is one of them, rent normal peoples cars. Its basically Air BnB for cars.
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Old 05-02-2019, 11:00 AM   #9
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Your auto policy will usually cover you for collision & liability (up to your policy limits) when you rent a car and some credit cards (Visa for example) provide the same coverages when you rent using their card. And I agree you are not covered when you rent your car. When you rent it becomes a commercial use which is excluded by most individual policies.

You are also correct that loss of use is not covered by insurance (most credit cards do not cover loss of use) on rentals because it is an unpredictable and sometimes bogusly padded by rental co.ís. (I had a recent incident in France and I fully expected to get banged for loss of use. I was charged a very reasonable .75 days for a repair. Boy, was I surprised).


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Old 05-02-2019, 11:10 AM   #10
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Just for the heck of it I looked at Tito for a rental for the month of July and compared it to Enterprise in Manchester. All in they were comparable at +/-$50per day for a small car. Makes $150/week seem pretty low ball.


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Old 05-02-2019, 11:12 AM   #11
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Turo not Tito (I hate spell correct)


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Old 05-02-2019, 12:03 PM   #12
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Default Cheap

Google "Rent a Wreck" and find cars that rent for $5-10 a day. Probably also "Ugly Duckling".
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Old 05-02-2019, 01:05 PM   #13
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Default Yes it does

Quote:
Originally Posted by The Real BigGuy View Post
Upthesaukee, my auto insurance covers me for rented vehicles. I decline rental insurance whenever on vacation. Iím in MA, is NH coverage different?


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Yes it does. This is the reverse situation. The owner of the car in the situation presented here is the "rental company".

In the case of you renting from Hertz / Avis etc, they have insurance on their cars, and your personal auto coverage extends to the car you are renting.

Your personal auto policy likely will exclude coverage for you to rent your owned auto to someone else. That puts the owner of the vehicle in a potentially huge liability risk.

JMHO

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