Short term lease..
May 27, 2009 | 12:53 PM
#1
Thread Starter
| Former Sponsor
Joined: Oct 2008
Posts: 677
From: Seattle, WA
Short term lease..
Thinking about branching out to a short term lease use of cars I have in stock...
Say a 90 day "summer term"
You pay shipping to and from my location
Pay a monthly fee
Have insurance with Cats Exotics named as an additional insured
Pay a per miles fee use
Return it with a full fluids service completed
AND if you want to purchase it after the 90 days...ALL funds paid toward the lease go towards the purchase of the vehicle
Any thought on this guys oh and gals as well..?
Say a 90 day "summer term"
You pay shipping to and from my location
Pay a monthly fee
Have insurance with Cats Exotics named as an additional insured
Pay a per miles fee use
Return it with a full fluids service completed
AND if you want to purchase it after the 90 days...ALL funds paid toward the lease go towards the purchase of the vehicle
Any thought on this guys oh and gals as well..?
May 27, 2009 | 01:08 PM
#2
TEAMSPEED.COM
Joined: Jan 2008
Posts: 4,331
From: Gilroy, CA
Not sure Roy, could be more of a headache than what its worth. Your potential customer base could either be legitimate buyers that want some seat time, or individuals that would no way in hell qualfy to buy the car, and thus drive the snot out of it and leave you with a car that has been damaged/neglected.
Not saying it wouldnt work, just not sure if it would be worth the potential headaches it could cause you.
Not saying it wouldnt work, just not sure if it would be worth the potential headaches it could cause you.
May 27, 2009 | 01:37 PM
#3
Teamspeed Pro
Joined: Apr 2008
Posts: 2,314
From: Palo Alto, CA 94301
Not sure Roy, could be more of a headache than what its worth. Your potential customer base could either be legitimate buyers that want some seat time, or individuals that would no way in hell qualfy to buy the car, and thus drive the snot out of it and leave you with a car that has been damaged/neglected.
Not saying it wouldnt work, just not sure if it would be worth the potential headaches it could cause you.
Not saying it wouldnt work, just not sure if it would be worth the potential headaches it could cause you.
May 27, 2009 | 01:45 PM
#4
Teamspeed Pro
Joined: Jan 2008
Posts: 6,031
From: Chicago, Il
a lot of work imo......
1. you'd have to run a credit check just to see if they'd qualify to own such a car and I doubt someone will have an inquiry on their report for a 90 trial
2. you probably should just run a rental service in your region and charge per mile
again like Robert said, not worth the headache
1. you'd have to run a credit check just to see if they'd qualify to own such a car and I doubt someone will have an inquiry on their report for a 90 trial
2. you probably should just run a rental service in your region and charge per mile
again like Robert said, not worth the headache
May 27, 2009 | 02:16 PM
#5
Thread Starter
| Former Sponsor
Joined: Oct 2008
Posts: 677
From: Seattle, WA
a lot of work imo......
1. you'd have to run a credit check just to see if they'd qualify to own such a car and I doubt someone will have an inquiry on their report for a 90 trial
2. you probably should just run a rental service in your region and charge per mile
again like Robert said, not worth the headache
1. you'd have to run a credit check just to see if they'd qualify to own such a car and I doubt someone will have an inquiry on their report for a 90 trial
2. you probably should just run a rental service in your region and charge per mile
again like Robert said, not worth the headache
Of course there are restrictions, like age min 35, own a house, clean driving record, credit score of say at least 700...ect etc..some of these tight rules would keep the "renter-beater" away.
Also if every time I started a Venture and I thought OMG a Headache...I would be broke and still working at McDonalds like I did when Iwas 18 YOA LOL
May 27, 2009 | 03:20 PM
#7
TEAMSPEED.COM
Joined: Jan 2008
Posts: 4,331
From: Gilroy, CA
Lets look at this closer then.
You have inventory that is not moving. If you make enough on your exotic car rental business, I'm sure it could offset a percentage of your cost for keeping that inventory.
I'd take a look at the competition and see what they are renting cars for.
You have inventory that is not moving. If you make enough on your exotic car rental business, I'm sure it could offset a percentage of your cost for keeping that inventory.
I'd take a look at the competition and see what they are renting cars for.
May 27, 2009 | 03:43 PM
#8
Teamspeed Pro
Joined: Jan 2008
Posts: 3,798
From: Burlington, Ontario/Marco Island, Fl.
I think it's a great idea. Especially for those of us who churn. I spent $50k each ($100K !!!) on two consecutive summers driving and selling identical 360 spiders. Had I the option to lease, it would have been much cheaper.
May 27, 2009 | 04:57 PM
#10
Thread Starter
| Former Sponsor
Joined: Oct 2008
Posts: 677
From: Seattle, WA
Lets look at this closer then.
You have inventory that is not moving. If you make enough on your exotic car rental business, I'm sure it could offset a percentage of your cost for keeping that inventory.
I'd take a look at the competition and see what they are renting cars for.
You have inventory that is not moving. If you make enough on your exotic car rental business, I'm sure it could offset a percentage of your cost for keeping that inventory.
I'd take a look at the competition and see what they are renting cars for.
and you are so close by, stop by Steves shop Driven Exotics - The Lamborghini Specialists and view the last 6 cars I have taken in in the last 3 weeks, not listed till steves signs them off as perfect ready to go.
PS I will be in town, Gilroy June 3 and 4th, stop by the shop!!