Anyone shed some light on, PCP or contract hire or lease?
#1
Scooby Regular
Thread Starter
Anyone shed some light on, PCP or contract hire or lease?
Hi all! been a while since I was on here.
My friend has asked me a question and its confusing me and everyone gives me a different answer.
He wants to start his own car rental firm, buying 1-10 cars to start with. Nothing major..probably golfs or passats. Simple right? not as it seems.
Its been bought to his attention...
He cant rent cars out which are financed as they are in breach of his finance contract?
So how do you get a car and legally rent it out? lease, contact hire, business lease?
Or get a bank loan and simply buy the vehicle out right. I have read about numerous cars that have been previously repossessed because they are not allowed to be rented out?
Someone steer him in the right direction.
Many thanks in advance.
H
My friend has asked me a question and its confusing me and everyone gives me a different answer.
He wants to start his own car rental firm, buying 1-10 cars to start with. Nothing major..probably golfs or passats. Simple right? not as it seems.
Its been bought to his attention...
He cant rent cars out which are financed as they are in breach of his finance contract?
So how do you get a car and legally rent it out? lease, contact hire, business lease?
Or get a bank loan and simply buy the vehicle out right. I have read about numerous cars that have been previously repossessed because they are not allowed to be rented out?
Someone steer him in the right direction.
Many thanks in advance.
H
#5
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I was being sarcastic. Of course the big hire firms never buy their cars. They pay for the depreciation at a lower rate than the daily hire rate. And stiff you for damage and fuel
Steve
Steve
#6
Unless it's something in a niche market like RV's or classic cars then he will never compete with hertz / avis / enterprise for bog standard rental.
do what I did which was start a business last year competing against the established players and lose a shed load of money..
Shaun
do what I did which was start a business last year competing against the established players and lose a shed load of money..
Shaun
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