Tedd Thompson

I have an opportunity ( I've been asked if I want to) to rent me and my car out for weddings and special events. This is from a business that does this about 7 or 8 months a year, so depending on bookings this could amount to a fair amount of time and what seems like good money. The car has been in a couple of commercials and a few weddings but I have never charged anything (mostly relatives). It seems that I could make as much as $500 per event depending on time in use. Do any of you do this for money and if you do what are the pitfalls good or bad?....Tedd

allyolds68

I wouldn't rent anyone my 442 convertible with a 455 and a 4 speed, would you?

Maybe if you drove?

MDchanic

I haven't done it, but will say that you, and any agency you work through, need to have appropriate insurance for this sort of business, both general liability (someone breaks an ankle getting out of your car) and driving liability, as well as comprehensive for any damage that might occur (vomit on the seats, golf cart into front fender), all geared toward this being a business, rather than a pleasure car.

Sounds like a great idea though - I'd give it a try!

- Eric

Tedd Thompson

Looked into the insurance angle and I can get through that(just cost money) and no one but me or my son in law will be driving, but the first bridezilla that puked in my car could end my career as a chauffeur and I could need all that of liability insurance and bail money also. Never thought about that....Tedd

DeltaPace77

Think I'd pass on that one, as lots of things can happen, including the mentioned interior soiling. Automatically figure in some scratched paint. Parking is another thing. Saw a tv program the other day, where people driving their friends cars, got towed to impound, and the owners needed to show up in person to get them. Never thought of that one myself, but happens. Tow trucks sometimes damage things too.

Aceshigh

I guess my first question would be to investigate if there's rental car insurance that covers classics well enough.

Classic cars , ESPECIALLY muscle cars are going to be thrashed.
You can bet your *** on it.

If you can get a quality insurance plan that has an agreed value on the car, and this business venture.
I'd say to go for it. I've seen a few places that do this all over the US and Hawaii.
Just be sure to charge enough to build up a "rebuild" fund when it comes necessary......because it will.

rustyroger

I've done this a few times with various cars in the UK.

Hire and reward insurance is required for weddings and the like. For film work normally the hiring agents will supply insurance. Be very careful about exactly what the car will be used for, in my case the car was only filmed parked as background, if it was filmed in motion the fee (and risk) would have been higher.

I know of several people who rent out classic cars as a business, it requires a lot of travelling and inconvenient hours, but I understand the fees reflect this.

No doubt a similar system operates in America, make sure you thoroughly research what is involved and understand exactly who is responsible for loss or damage.
Go in with your eyes open and you shouldn't get burned.

Roger.

Tedd Thompson

The last time my car was used at this event center it took about three or four hours from start to finish .I picked up the bride and her father, parked in the reception area(with me near the car), took the married couple around town maybe five miles and dropped them off at their motel...Done..The biggest problem I had was a drunk couple that wanted to sit on the fender and i handled that with out any problems. I'm thinking this could be easy money.I'm inclined to give it a shot,or at least try it till it becomes a hassle ,or buggers up my car somehow...Tedd

PS. My car is no muscle car(204 HP) and only myself or my son-in- law would be doing any driving.

joe_padavano

The car WILL be damaged - scratches, etc. Your call if the reward is adequate to cover that. Also, as noted, verify insurance. Your car insurance will NOT cover damage when the car was rented out.

pcard

Do not forget that you will have tax consequences as well.
I would suggest you set it up as a business - incorporate and do it right - sell your car to the company to keep the all liabilities separate from your personal life and assets in case you get sued. Talk to your tax accountant and your lawyer. They will be able to help you determine if this really is a money making opportunity, or something that will become a headache.
If you set the corporation up right you may be able to put all your maintenance and running costs down as expenses and claim some of the loses on your personal tax as well. I will say again, talk to your tax accountant and your lawyer.