RRSPORT.CO.UK • View topic - Financing cars for car rentals?


		^ Advertise here ^ RRSPORT.CO.UK
		Forum Gallery Shop Sponsors

Home · FAQ · New Posts · My Posts · PMs · Search · Members · Members Map · Calendar · Profile · Donate · Register · Log In

Home > Finance & Insurance > Financing cars for car rentals?

Page 1 of 1

sid86

Member Since: 12 Dec 2008
Location: East London
Posts: 5

Financing cars for car rentals?

hi guys, I asked in another section a while back but so far no reply, to put it bluntly I'm wondering how I would go about getting hold of cars so that I can rent them out...

I can't afford to buy cars because, well my income is like £390 a month, so is this possible, I've built a good list of clients and potential clients ofcourse and all I need now is the wheels to be rolled out onto the road, thanks in advance for any advice and suggestions people, enjoy your night I may not be there yet, but I am closer than I was yesterday...

Tue Dec 30 2008 12:17am

Supertrotter

Member Since: 10 Mar 2006
Location: Brrrr.... guess where :o(
Posts: 9905

Speak to member SexyPauly.

He has money to burn and wouldn't care that you only earn tuppence ha'penny a month.... Runner up - 2009 Best Avatar Award
Joint runner up - 2009 Outstanding Contribution Award
WINNER - 2008 ‘Best Thread’ Award – Beautiful Women Of The World
Runner Up - 2008 Comedian Of The Year Award
Runner Up - 2008’s Funniest Incident

06 RRS TDV6 HSE, Java/Ebony, PTI, Running Boards, Privacy, S/C Grille/Vents, Stormers, Tasmods - GONE - (

Tue Dec 30 2008 7:06am

shmoogle

Member Since: 07 Sep 2005
Location: ... and for every sprinkle I find, I shall kill you!
Posts: 24350

Sid - you're looking to start a business aren't you

So, when you're looking to start a business, what might you normally do if you otherwise have no clue?

http://www.businesslink.gov.uk/bdotg/actio...ink.gov.uk

Good luck

2009 Outstanding Contribution Award - Joint Runner Up
2009 'Tech-Head Of The Year' Award - Runner Up

Like it here? Then Donate to RRSPORT!!

Tue Dec 30 2008 2:27pm

sid86

Member Since: 12 Dec 2008
Location: East London
Posts: 5

thanks for the link shmoogle, i was just asking on here to see if someone could give me their own tips and what to look out for, y'know like the things you'll learn by doing rather than reading, thanks mate, much appreciated. I may not be there yet, but I am closer than I was yesterday...

Tue Dec 30 2008 4:08pm

shmoogle

Member Since: 07 Sep 2005
Location: ... and for every sprinkle I find, I shall kill you!
Posts: 24350

The trouble is of course, is that you're asking a very open ended question.... it's a bit like saying "I want to build my own jet fighter, what do I need to look out for?"

Good luck though fella

2009 Outstanding Contribution Award - Joint Runner Up
2009 'Tech-Head Of The Year' Award - Runner Up

Like it here? Then Donate to RRSPORT!!

Tue Dec 30 2008 4:10pm

kam100

Member Since: 28 Sep 2005
Location: In my office doing quotes!!
Posts: 4771

Re: Financing cars for car rentals?

sid86 wrote:
hi guys, I asked in another section a while back but so far no reply, to put it bluntly I'm wondering how I would go about getting hold of cars so that I can rent them out...

I can't afford to buy cars because, well my income is like £390 a month, so is this possible, I've built a good list of clients and potential clients ofcourse and all I need now is the wheels to be rolled out onto the road, thanks in advance for any advice and suggestions people, enjoy your night

Leasing cars and renting them out is a big no no, as you don't have the actual permission to do this off the owners, and if you actually find a leasing company that will allow you to do it, you will pay through your nose. Let alone insuring them..! You can finance them for this purpose, but as a start up company in today's finance/banking climate, you're not likely to get much funding unless you have a very strong cashflow in other businesses/capital level to begin with.

We do have some lenders that may assist, but as this is a very high risk area of lending, you're not looking to move into this area at the best time really... but good luck anyway, if you have the customers/clients already lined up thats one thing taken care of at least.

Tue Dec 30 2008 6:40pm

Wozz

Member Since: 28 Dec 2008
Location: Cheshire, United Kingdom
Posts: 826

Can I borrow a fiver? WINNER - 2009 Best Newcomer Award
'09 TDV6 XS Stornaway Grey

'06 BMW 730 D SE (Gone)
'08 A4 TDi SLine Avant (Gone)
Large pack of Flake Cakes (Gone)
6 pack of Guiness (Gone)

Tue Dec 30 2008 9:10pm

kam100

Member Since: 28 Sep 2005
Location: In my office doing quotes!!
Posts: 4771

Yes.. if you want to drive to Birmingham and come and get it?

Wed Dec 31 2008 1:10am

Wozz

Member Since: 28 Dec 2008
Location: Cheshire, United Kingdom
Posts: 826

Gah - fair point subtley made.

Not "that" far from Chester though. WINNER - 2009 Best Newcomer Award
'09 TDV6 XS Stornaway Grey

'06 BMW 730 D SE (Gone)
'08 A4 TDi SLine Avant (Gone)
Large pack of Flake Cakes (Gone)
6 pack of Guiness (Gone)

Wed Dec 31 2008 10:44am

sid86

Member Since: 12 Dec 2008
Location: East London
Posts: 5

thanks alot kam100, that's very helpful info. I've just arranged a meeting with one of my older friends mates and he's already in the whole rental business and he also do property development and sales on the side, he's said he'll help me getting started up and has even offered to give me a 'few' of his cars for me to rent out, so I guess now I'll just do some more research on getting a company name, logo, registering, advertising etc

thanks very much for the help guys, I'll check back here soon and tell you how everything is going, enjoy your new year fellers. I may not be there yet, but I am closer than I was yesterday...

Wed Dec 31 2008 1:14pm

XXXAngelXXX

Member Since: 03 Mar 2006
Location: Krautland
Posts: 10894

Best of luck
L 405 2013 FFRR 5.0 SC
--------------------------------------------------------------
WINNER - 2009 ï¿½Best Avatarï¿½ Award
WINNER - 2009 Comedian Of The Year Award

Wed Dec 31 2008 2:17pm

Sheffield Jase

Member Since: 03 Jun 2008
Location: Sheffield,Stocksbridge
Posts: 42

2008 Range Rover Sport TDV6 HSE Java Black

I think your plan will work if you really want it, first you need to learn the basics of setting up and operating a business.... a part time business studies course at your local college , and or your local business link will help.
Secondly find work at a car rental firm, even if it is just part time driving delivering cars, after 6 months you will have a good insight into the procedures and methods used, try one of the big multi national firms such as hertz, national etc .
Next I would continue with the plan you have , find a mentor to help ,guide and teach you , us business people love to share our knowledge with people who are keen to learn.
The man who started Thrifty car did so with 2 old ford cortinas bought for £500 in total in the auctions. Then once he had a track record with a few more cars leasing companies took him seriously. There are several specialist leasing companies for rental fleets, and some very cheap deals about at the moment.
You can do it , go for it!!! 08 HSE,5%TINTS, Factory tow bar, brum ,brum

Thu Jan 01 2009 9:33am

Chappylad

Member Since: 03 Dec 2005
Location: Bucks
Posts: 123

Sid,

I am in the car rental business and deals with car leasing companies. TBH, Kam100 just said in his other post is spot on.

PM me if you want some advice.

Cheers

C

Thu Jan 08 2009 12:14am

sid86

Member Since: 12 Dec 2008
Location: East London
Posts: 5

sorry or the late late reply lads, I had some unfortunate events early january and lost two good friends I'm trying to not think about it much, so I'll be getting my head straight into this car rental business, I've checked out the courses over at my local universities, I'm going to ask around other rental companies how they go about making contracts for their clients, etc, I've been also saving up recently and I believe I can buy a decent cac, I've made a good connection with one guy in a insurance company who sells cat D cars for very good prices considering the damages they absorbed and the repair works thereafter, I'll keep you lot upto date whenever I can, once again thanks for the advice and support, I'm always thankful. enjoy you're weekend. I may not be there yet, but I am closer than I was yesterday...

Sun Feb 08 2009 12:10pm

shab_k

Member Since: 30 Aug 2008
Location: nottingham
Posts: 15

im in the business and best way to start off is speak to a few local private hire companies and negotiate a deal with them and rent their cars out and see how you get on. if it all works out you can buy your own also you will have some numerical figures to show the bank for a loan. get in touch if you need more advice or help. q7 gone but not forgotten....
RRS coming soon...

Mon Feb 09 2009 4:29pm

Page 1 of 1

All times are GMT

Jump to

< Previous Topic | Next Topic >

Posting Rules

You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum