NSX for rent... ?

[NetViper]

I am starting to think I will never be able to afford an NSX at this rate. (Low paying job), so I came up with this idea.

What if I got a business loan for an exotic renting company and started with an NSX. I use the loan to buy the car and advertise. I will build the website myself (that is what I do now). I rent the car out for $200-$300 a day and try and book it once a week. The goal would be to rent it enough times to cover the car note. Profit is not really important to me at this point. When the car is not rented,I get to drive the car. Insurance might be a problem though.

Anyone ever thought of doing this? Any ideas?

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NetViper -= looking to get an NSX before I turn 26! =- Didn't make 25

 

[nsx1164]

Doug Hayashi at Pulp Racing (nsxfiles.com) had tried this awhile back. Check out his site to see if there were many takers.

Several exotic rental places have an occasional NSX for rent, but these tend to be older, poorly-maintained cars. Plus, these cars probably get a fair amount of abuse


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Manuel C
93 NSX S/B #394
93 300CE
93 NH750

 

[johndoh]

Rental cars, exotic or not, gets abused rather heavily. Don't forget to factor in the cost of maintenance of daily abuse by renters.

 

[flaminio]

Originally posted by NetViper:
Anyone ever thought of doing this? Any ideas?

Seems like a bad idea, for a couple reasons. One, you'd be letting a bunch of strangers kick your car around -- think about how you treat rentals, and imagine others doing that to you. Second, I'm not too familiar with the Monroe, Louisiana area, but you have to look and see what the market for an exotic car rental is there. Aside from prom night, when will people be renting your car? Exotic car rentals do OK in places like LA and Vegas, but in most areas your car will get few takers.

I was in a similar situation as you. I've wanted an NSX ever since it showed up in 1991. But I'm not a millionaire -- just a working guy. I saved my money. I invested aggressively. I trimmed my lifestyle, skipping other expensive hobbies. It took 9 years to accumulate enough money to buy the car, but it was totally worth it. My advice: skip the schemes and just save and be patient.

-Bob ('94 #496)

 

[Edo]

I'm in with Flaminio. I did the same except I saved for 2 years..not 9...Flaminio, you are the man of STEEL!! I couldnt possibly do what you did for 9 years. 2 years was pushing it for me.

In either case, I think the whole renting idea is bad. I understand the feeling of wanting an NSX heck I couldnt sleep at night I wanted one so bad, but doing things like buying one to rent out or buying a salvaged title NSX just isn't the way to acheive your dream car. The money you thought you saved in the beginning may and probably will come back to haunt you. Remember, the only person you're cheating out of having the "true" NSX experience is *you*.

 

[Arnis]

This is something that I have given a lot of thought of to in past. There are definitely wear and tear issues that you would have to be able to deal with but a number of other issues exist. One of the more significant issues is vehicle theft/accidents and the corresponding insurance implications. First you would need to check if such activities would be covered under your personal auto insurance. In the event that they are covered, a vehicle theft or accident which occurred would become a part of your insurance record and likely increase your rates. Furthermore, if the the carrier discovered the circumstances, you could likely be facing a policy cancellation in the near future. If your personal policy would not respond then, you would need to purchase a business auto policy. This would likely be very expensive for a fleet of one, let alone the high risk nature of the activity given the car, would likely prevent any insurer from providing a policy at reasonable cost (if at all). There are many other issues to deal with but this is one of the more difficult ones.

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[Gaymond Lee]

Sorry to stray from the topic but does anyone in the So Cal area recall the ads in the Los Angeles Photobuys or Auto Trader about 4-5 years ago (it could be as far as 7-8 years back but my memory is a bit hazy)where some guy was charging ~ $50 for a 15 minute drive? I would think that a rental would be a bad idea as no one will be babying the car when they fork over several hundred $'s and the maintenance/damage may offset any payments/profits you make on the car. Unless you do this illegally (on the side) you will most likely be paying higher $ for insurance

 

[NetViper]

I have read your opinions and they make sense. I was thinking of purchasing a 2000 NSX so the car would be under warranty for a long time. That should help with some of the abuse. Of course the car is going to be driven hard, but I am sure I willdrive it hard aswell. I know from reading the NSXfiles that when the guys took out a 355 rental they put a little scratch on it and they were responsible for the damages. (Over 400 bucks!)

As for the area, yes Monroe is a small town, but there are some very wealthy people that might find this interesting. I don't know if there would be sufficient clientele, however it would be worth trying. Also, I am looking to move to Dallas as soon as I can find a job. (Can anyone help?)

Insurance is a big issue and I haven't done the research on that yet. I did read on a similar site that drivers had to be 25 years of age, have a valid drivers license and Visa and Liability & collision insurance with car rental coverage on their policy up to $100,000 per occurrence.

This is just an idea I have. I would really like to get an NSX and I see this as a possible route. Yes I would be sharing the car, however, I would get to drive it 90% of the time.

Does that really sound so bad?


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NetViper -= looking to get an NSX before I turn 26! =- Didn't make 25

 

[altman]

You *may* find that the Acura warranty specifically excludes use for hire; this is quite common in exclusion lists.

You will need special rental insurance, which may be hard to arrange especially on sportscars - mainly because people who have no experience with a powerful RWD car will rent it, want to make the most of the limited time they have with the car, and so have a good chance of totalling the car/killing themselves/killing someone else.

I know in the UK such rentals are very expensive, and a huge proportion is the insurance cost. Generally, they limit mileage to around 200 miles too.

Hugo

 

[NSX next car]

Renting your NSX just so you can enjoy it some of the time seems like pimping your sister out, but making sure she is back at home for dinner and special occasions.

I would rather pimp my sister first, at least I know exactly where and what all the damage will be.

If the car is worth getting, then its worth getting the right way, I am sure there are plenty of 7-11s out there you can stick up too, but if you do like the rest of us, a little hard work until you hit the lottery is the best way to achieve this.

I am not sure that opinion was worth 2 cents, but there it is anyway

 

[chumch]

I still havent bought an nsx yet and probably won't for another couple of years. But, you know, I think the delay of my gratification is actually part of the fun and will make the day I really take the plunge, even more special. Every (rare) time I see one on the street I say "i'm gonna get one of those one of these days," and the fact that it might not be for a couple of years doesnt bother me that much. Just save up and keep the dream alive.