For people who can get/got a great deal on a small/ midsize SUV there may soon be a rental option permitted under lease contracts. For someone who doesn’t need all their miles, I could see being able to cover monthly lease payment by renting for 3-4 days (say 50 bucks a day, max 100 mileage a day). Would be even more intriguing if GMs insurance completely covered the owner versus Truro which only provides 1 million worth of coverage.
I would be hesitant to do this. I have seen some YouTube videos of people who use Turo to rent their cars and had them trashed by renters. And not just a little either. If you see the video I saw you would never rent your car.
Some people treat rental cars like garbage bins.
Totally agree. I know how I used to do neutral drops in those Enterprise shitboxes I used to rent in my 20s. I would never rent out my car, even if my earnings made my lease payment every month. Not worth the hassle.
Just because GM will allow it doesn’t necessarily mean your insurance co will allow it. They might drop you or raise you up to commercial rates.
I would not either but I know exactly what my time is worth at work. But for people who have more time than money it’s not insane. Everything should be covered by GMs insurance plus customers insurance. And say they shred transmission or abuse engine, those parts are under warranty.
If I didn’t have a family, demanding job and zero free time as is, I would consider forming an LLC, getting a good rate on group GM lease (i.e. one of Mani’s group leases) for the LLC and rent the fleet out. Really monetize the sharing economy.
Unless they can prove abuse or neglect. I would be shocked if they don’t read (or GM doesn’t require them to read) the car’s computers when doing a repair like this to see how the car was driven. OBDII can store a great amount of data on the car and how it is operated.
Literally the first sentence or paragraph of a warranty states it only covers manufacturing defects, and then goes on to exclude misuse.
And you’ll need commercial insurance for your LLC.
@max_g first, for abuse. I know someone who works for a rental car company and mechanical abuse is a relatively small problem. Renting Camrys and Chevys people dont normally abuse the cars bad enough to mechinically break them in 12-18 months. Even the more powerful cars only rarely have mechanical issues. If transmissions we’re dying in under 12 months in even a small amount of rental cars, the big rental agencies would have a huge problem. Now, the interior damage/smoking, that is a big problem.
As for insurance…, you get the minimum whatever state you incorporate in requires. Many don’t need much. If something happened, you drag out case for as long as needed to cover costs on all cars, return the last lease and fold up shop. In a quick State, a lawsuit will take nine months, 12+ months in a state with a slower judiciary.
Of course I talk a big game but I’m not doing this and certainly not renting out my personal car. So just an academic exercise for me.
I actually had to read this part twice !
But serious note, I have an encore and I would definitely try it out. GM insurance covers the vehicle while its being rented out. Your insurance covers it when you are using it, so they would never drop it.
Further, all renters will be screened by GMs platform. Also, the cars will be installed with the equipment which would give renters access to the car without a key and with only their cellphones or biometrics etc. While the car is being used, it will be tracked, it will be recorded as of the drivers speed, behavior etc.
As far as the mechanicals are involved, the warranty shall be covering all that out.
Maybe Im being too optimistic about this, but in my opinion this platform cant be compared to turo.
So why would anyone want to rent from there?
Tracking this thread. I’m in one of the beta cities and am taking a serious enough interest that I’m car shopping GM cars. Since I work remote my car is 90% of the time in the garage eating cash, but the family is not comfortable with going single car. My dilemma, replace the 3 row BMW with an Escalade/Yukon or replace the BMW EV with a Bolt? Both cars, the warranty is up next year so it’s about time to think replacements anyway. Lol, First World Problems.
Yes, I literally WILL not want my car back.
I am no longer attached to my little car I did all the work and effort to find good deals to mod it. I dont want it back. I am shopping for a new one now.
My leather seats are loose , pieces of cat hair,… I got paid 180 to clean. the cat hair. but im sure I didn’t get every piece.
The steering wheel feels different the engine sounds different.
Im not in love with it anymore
cheap . no cc holds etc
competitive vs enterprise.
for example mines is a convertible and im renting it out at 21-29$ a day.
Hertz and enterprise won’t get you that esp in high season