Vehicle Rental Services

After looking at many vehicles rental services we have concluded that there needs to be a place to get information about the vehicle rental services. The company has been looking at the possible rates of returns on the investments for the short-term rentals of personal vehicles at various vacation locations. Based on looking into the use of the Turo Model for the short-term rental of personal vehicles the company discovered the possible use of classic cars as short-term vehicle rentals. The company first looked at the short-term rental of personal vehicles in Hawaii. The company in preparing the expected earnings from the Hawaii rental business the company had several issues with the cost of maintaining the vehicles and the insurable losses from damages to the vehicles. There were concerns about the available rental days as would be expected as well as the expected rates available for the rental of the vehicle. There seemed to be very competitive rates for the various vehicles the company was looking at in the Hawaii project.  In looking at the other vehicles that could be rented on a short-term basis the company came across the Turo rental of classic cars in the Los Angeles area. The rates being advertised for the classic cars rentals seemed quite high for these older vehicles.

In looking at the short-term rentals of vehicles there were several areas that stood out as areas of possible problems with the rental business.

The company had problems being able to verify some of the costs with outside sources. We really did not have outside sources to address the following costs:

1. The cost of detailing the vehicle,
2. The cost of the storage of the vehicle
3. The cost of having someone dealing with the clients pickup or drop off check out times.
4. Classic Car Rentals

• The verification of the vehicle components when the vehicle is checked out and checked in from the rental.
• How to address the minor damages that could occur with the use of the vehicle.
• How to address the use of the vehicle with the insurance company. Most insurance companies limit the mileage per year to 2,500 to 3,000 miles a year.
• How to make sure the original parts are left on the vehicle.
• How do we make sure that the insurable losses are covered in the rental income streams.
• How does the company verify the value of the vehicle while in its possession.
• How does the company address the total loss of the vehicle. How does the company protect the owners from the theft of the vehicle.
• How does the company get the services of a private detective to check the criminal records of the possible renters of the vehicles if so desired by the company.
• How does the company establish the rental rates for the classic car rentals?
• How can the company compute the rental rates for movie studios use of the classic cars for an extended period of time?