PPL would start scamming the insurance. What if your whole fleet gets stoles that is worth 10mil, you expect your insurance pay you 10 mil. Then 10 months later, your whole fleet gets stolen again, you want them to pay you 10 mil again?
@ that would then have to apply to any insurance. understand raising the price of it but not being able to have an insurance anymore makes it useless. The point of an insurance is to cover you when something happens, not to pay them to have nothing happen ever.
@@Luca-xh7ngwell insurance is intended for the worst case scenario. Most people should be experiencing a worse case scenario event no more than 4 or 5 times in lifetime. So if you are paying like 3k a year for your premium and you file like a $1 million claim, the insurance company will pay your claim and THEN non renew. Meaning “we did our part. Go be someone else’s problem now”. Because you will most likely never recoup that loss in the premium that you pay. Keep in mind insurance is only intended to make you “whole again”. Neither party should be getting a financial advantage in the agreement.
@@FlightX101 People who hate CEO's for a reason like this are idiots who don't understand the problem. The problem is the entire industry - it's systemic. You out one CEO they'll get replaced by another who is a carbon copy. The CEO also can't make decisions unilaterally, he's answerable to the board and shareholders (see the Intel CEO who was recently fired). The problem is the entire industry, not the CEO. The CEO is just a middle man to the machine.
Your outro/ ad is super annoying. Don’t say “ before we get into that… “ and then just end the video after. It’s misleading. I didnt think you would mislead your audience on purpose but here we are.
I can understand them cutting up a long interview into segments, but some honesty about doing so would go a long way. I was really interested in the next part of the discussion. Very annoying.
Had a buddy that had his 56 chevy stolen, he went to police station, posted a reward poster with picture of car. Had every cop in the city looking for it. Had the car back in 2 days.
@@uwould21 Nice. There's an awesome classic car community in those coastal towns. I'm from Mississippi. Mobile and Gulf Shores and two of my favorite places.
Sounds like squatters. When someone takes something of yours or trespasses, either on your land or enters your house, this is a crime but when you allow someone to stay on your land or live in your house, for 1 second, it's no longer a criminal matter, it's a civil matter. Criminal = cops; civil = courts.
@@mattolivier1835 What's in state criminal code is dictated by state legislatures. Trump (or any president) has no power or control at all over it. And quite frankly it's very very low on any president's priority list.
@@MrSlowestD16 Haha, you're not too bright are you son. Trump could declare a state of emergency. Also, it's more about the atmosphere Trump created when he won for a third time. There is a feeling of positivity in the air which hasn't existed in a long, long, time!
My friends boss left his Lambo Performante at a used exotic car lot on consignment for like 300k or 400k. Long story short they sold the car and he never got paid. What a nightmare but eventually after like 6 months to a year he got his car back.
Theft is just as large of (if not larger) an issue for normal people. Dodges and Chevrolets are stolen by the bucketloads and often not recovered. Any area with an active car scene, like FL, TX, and CA has TONS of these ~60-100k valued car thefts every day, and nothing is done to slow or stop it.
Not a business man, nor do i plan to ever be one. Reason being is this kind of stuff just seems so commonplace and a total nightmare. The squatters comparison is dead on, i considered trying to get into real estate, and i have acquaintances that work in the field and the stories that i hear make it sound like a total time and money drain.
I have three rental properties for three years now. I haven’t faced any problems like that. And it’s not luck. It’s because I don’t give people chances. If someone is applying for a one year lease they have to meet the requirements for credit score and income. I don’t care about any sob story. They either meet the bar or they don’t. I’m guessing your friends fell for far too many sob stories.
My friends boss left his Lambo Performante at a used exotic car lot on consignment for like 300k or 400k. Long story short they sold the car and he never got paid. What a nightmare but eventually after like 6 months to a year he got his car back. There was another customer who paid 400k site unseen for a car that they didn’t even have.
Needing maintenance and upkeep doesn't make it "unreliable", it's not a farm truck. It's a luxury precision machine. That's like saying a precision rifle that requires maintenance is a POS because you can't just leave it in some mud and then fire it. Or that a Swiss watch is junk compared to a 5 dollar digital watch. It doesnt work like that.
i knew a guy who would buy a 20 year old exotic for $18k at the beginning of every summer. then at the end of summer he'd sell a 20 year old exotic for $17.5k frikkin genius, if you ask me.
It's shocking to me how people who're intelligent enough to make enough money to buy nice things... can also be stupid enough to trust losers/lesser people with those things thinking it's a business opportunity.
I just see no up side to renting cars like this. The incentive to steal is massive. The risk and consequences virtually non-existent. The profit is minimal. People who are legit wealthy buy, not rent cars like this. Those who rent, apart from a few who just want a once in a lifetime joy ride, are scammy by nature. They're fronting fake wealth, in many cases probably as part of some other grift they're working.
3:01 yeah that's why insurance in general is a giant scam. Similar to gambling - lose over and over and the betting companies do nothing. Win 17 grand like my buddy did (he was in the news and everything) and you get banned from multiple online major betting companies.
Right? How does someone even get into the super car business living that close to the bone? I would consider a used golf cart business severely under-capitalized if they couldn't cover a $5,000 expense! I'm glad he wrote the bum check to that dude though.
FUCK YEAH IT’S Grand theft auto!! Ask me how I know…I’ve been to prison over a God damn rental car!! Here in Las Vegas, Nevada it’s ABSOLUTELY GTA!! And is prosecuted as such!!
It also impacts the regular rental market, raises insurance premiums, and ultimately affects lower-income groups. Why not dig deeper than surface-level analysis? That's so 2008.
Bro your selfish imagine that was your business and you depend on those cars to feed your family and grow your business. Shame people like you only think about themselves. Im broke and a college student and I still have sympathy for people who are much richer then me life’s not easy. Even people with money still have everyday situation to deal with.
the mew video format is annoying. truo or that rental service is a money-loser and we saw last week how it's an open door to problems. These cars should have geofencing capabilities like many other vehicle rentals do
So the owner has enough to buy and rent out sports cars but doesn’t have enough money for a lawyer and barely enough to tow the vehicle. Just seems a bit of a lie
Renting exotic cars, having a wedding and going on honeymoon, yet doesn’t have money for a lawyer or can afford 5k. Does sound shady and probably fiction.
I know that the “financial advisor” grift didn’t go too well and now you’re pretending to be an interviewer. Terrible interviewing style. I totally wouldn’t have watched this at all if it wasnt Ed Bolian. I wonder how many people lost their shirt over the crypto advice.
Check out the full episode here! -> tinyurl.com/ICHEdBolian
An insurance that when you file a claim they don’t renew you is the most useless thing i’ve ever head.
PPL would start scamming the insurance. What if your whole fleet gets stoles that is worth 10mil, you expect your insurance pay you 10 mil. Then 10 months later, your whole fleet gets stolen again, you want them to pay you 10 mil again?
@ that would then have to apply to any insurance. understand raising the price of it but not being able to have an insurance anymore makes it useless. The point of an insurance is to cover you when something happens, not to pay them to have nothing happen ever.
@@Luca-xh7ng They will pay you, they wont renew the policy next time.
@ yes I understand that but still nonsense in my opinion. Any minor claim and you gotta change insurance every time.
@@Luca-xh7ngwell insurance is intended for the worst case scenario. Most people should be experiencing a worse case scenario event no more than 4 or 5 times in lifetime. So if you are paying like 3k a year for your premium and you file like a $1 million claim, the insurance company will pay your claim and THEN non renew. Meaning “we did our part. Go be someone else’s problem now”. Because you will most likely never recoup that loss in the premium that you pay. Keep in mind insurance is only intended to make you “whole again”. Neither party should be getting a financial advantage in the agreement.
"If you file a claim they won't renew you." It sounds like insurance companies are the ones crushing your industry.
And people wonder why Insurance CEO's are so damn hated by everyone. File one decent claim and your contract is torn up lmao
@@466rudy6 they do renew you but you become a higher risk .
Not to mention all the insurance fraud that happens when these rental companies fail
Whats the point in the insurance if you can only use it once.
It’s bad risk management. One total theft on a Lamborghini = a policy that will never be profitable.
@@FlightX101 People who hate CEO's for a reason like this are idiots who don't understand the problem.
The problem is the entire industry - it's systemic. You out one CEO they'll get replaced by another who is a carbon copy. The CEO also can't make decisions unilaterally, he's answerable to the board and shareholders (see the Intel CEO who was recently fired). The problem is the entire industry, not the CEO. The CEO is just a middle man to the machine.
an ex cop paying in cash....i wonder why lol
Bribe
Dirty money
@@கோபிசுதாகர் Naw, bribery and corruption only exists in other country's police forces, not in the U.S.... jk
Your outro/ ad is super annoying. Don’t say “ before we get into that… “ and then just end the video after. It’s misleading. I didnt think you would mislead your audience on purpose but here we are.
AMEN!
I can understand them cutting up a long interview into segments, but some honesty about doing so would go a long way. I was really interested in the next part of the discussion. Very annoying.
Bro we telepathically thought the same exact thing. I was like what gives!
Bro this is the crypto scammed. U think he cares?? Lol😊
We that's just lazy editing lol 😅
Had a buddy that had his 56 chevy stolen, he went to police station, posted a reward poster with picture of car. Had every cop in the city looking for it. Had the car back in 2 days.
Sooo, you live in a small town?
@@jeremyweems4916 it was Mobile Alabama in the 80’s.
@@uwould21 Nice. There's an awesome classic car community in those coastal towns. I'm from Mississippi. Mobile and Gulf Shores and two of my favorite places.
that never happened.
Smart
Hertz rental car has people arrested all the time for not returning their cars
Even people who have legitimate rental agreements.
and those that did
Exactly if Hertz can do it. How come he can't.
@@gi4dtv230 the people renting these expensive cars have money for lawyers.
That happened to me!! Don’t get me started on the details. I’ve heard of people’s lives being totally destroyed (by being unable to bail out!)
Having an exotic car rental business in ATL is risky.
lots of 🏀 fans in ATL
The people in ATL are risky
I'm from Atlanta, yeah I agree
@@lunam7249the Hawks are okay not the best team though
No it is foolish.
“Write him a bad check. Don’t worry about it, it’ll be fine.” 😂
That was funny 😂😂😂
Sounds like squatters. When someone takes something of yours or trespasses, either on your land or enters your house, this is a crime but when you allow someone to stay on your land or live in your house, for 1 second, it's no longer a criminal matter, it's a civil matter. Criminal = cops; civil = courts.
8:04
THAT is the problem son! It's wrong! Thank God for Trump! These things are gonna change!
funny how they enacted all the anti-squatter laws right after corporate america went gonzo buying up family homes but leaving them sitting empty....
@@mattolivier1835 What's in state criminal code is dictated by state legislatures. Trump (or any president) has no power or control at all over it. And quite frankly it's very very low on any president's priority list.
@@MrSlowestD16 Haha, you're not too bright are you son. Trump could declare a state of emergency. Also, it's more about the atmosphere Trump created when he won for a third time. There is a feeling of positivity in the air which hasn't existed in a long, long, time!
Stealing rental cars, any car for that matter, is peak 430 behavior. People suck.
That reference does not fit at all.
My friends boss left his Lambo Performante at a used exotic car lot on consignment for like 300k or 400k. Long story short they sold the car and he never got paid. What a nightmare but eventually after like 6 months to a year he got his car back.
Theft is just as large of (if not larger) an issue for normal people. Dodges and Chevrolets are stolen by the bucketloads and often not recovered. Any area with an active car scene, like FL, TX, and CA has TONS of these ~60-100k valued car thefts every day, and nothing is done to slow or stop it.
Car rental is like property renting.. A nightmare for some renters and for many it is just not worth it.
The squatters comparison is excellent
Not a business man, nor do i plan to ever be one. Reason being is this kind of stuff just seems so commonplace and a total nightmare. The squatters comparison is dead on, i considered trying to get into real estate, and i have acquaintances that work in the field and the stories that i hear make it sound like a total time and money drain.
I have three rental properties for three years now. I haven’t faced any problems like that. And it’s not luck. It’s because I don’t give people chances. If someone is applying for a one year lease they have to meet the requirements for credit score and income. I don’t care about any sob story. They either meet the bar or they don’t. I’m guessing your friends fell for far too many sob stories.
Think about the type of person that wants or would own a supercar. Then ask yourself why the industry is full of problems.
My friends boss left his Lambo Performante at a used exotic car lot on consignment for like 300k or 400k. Long story short they sold the car and he never got paid. What a nightmare but eventually after like 6 months to a year he got his car back.
There was another customer who paid 400k site unseen for a car that they didn’t even have.
Renting a Supercar is a one of the lowest flexes you can do.
can care less to flex, just trying to have some fun for an afternoon
How does all this exist but hertz has had people jailed over a Chevrolet
Ayyy good point
Because hertz is a big company with political pull, this guy is just one asshole
When you get into the rental car exotic business, please let me know. I’m curious as well.
Everyone that does rentals in miami is doing some kind of illegal stuff on the side. That includes people in law enforcement.
Why would someone want to keep a highly undependable and unreliable exotic car that cost a fortune to repair for more than just a few hours ride?
@ Yes I have.
Needing maintenance and upkeep doesn't make it "unreliable", it's not a farm truck. It's a luxury precision machine. That's like saying a precision rifle that requires maintenance is a POS because you can't just leave it in some mud and then fire it. Or that a Swiss watch is junk compared to a 5 dollar digital watch. It doesnt work like that.
i knew a guy who would buy a 20 year old exotic for $18k at the beginning of every summer. then at the end of summer he'd sell a 20 year old exotic for $17.5k
frikkin genius, if you ask me.
It's shocking to me how people who're intelligent enough to make enough money to buy nice things... can also be stupid enough to trust losers/lesser people with those things thinking it's a business opportunity.
Rich does not equal smart and if you think that it does then you are neither
Ed is a great guest with interesting stories and you guys do a fantastic podcast.
He goes into soooo much detail. He could write an epic novel.
I hear many horror stories when Hertz reports a car stolen
Sounds like you need to call: the mafia.
Cool bro way to focus on a problem for .00001% of the world. So cool.
"Possession is 9/10ths of the law" refers to stolen property, if one is caught holding it...
Ed is my favorite PKA guest
I just see no up side to renting cars like this. The incentive to steal is massive. The risk and consequences virtually non-existent. The profit is minimal.
People who are legit wealthy buy, not rent cars like this. Those who rent, apart from a few who just want a once in a lifetime joy ride, are scammy by nature. They're fronting fake wealth, in many cases probably as part of some other grift they're working.
Just remember conversion is 9/10s of the law. The other tenth is unjust enrichment
3:01 yeah that's why insurance in general is a giant scam. Similar to gambling - lose over and over and the betting companies do nothing. Win 17 grand like my buddy did (he was in the news and everything) and you get banned from multiple online major betting companies.
Watching Tavarish on the TV in the background. 👍
Who in god name decides its a good idea to hold a ten pound mic during an interview....... Fire that guy
No way I would run any business involving trusting someone to respect my property if it’s in ATL. There’s too many basketball players.
Blacks*
Can someone get these guys better chairs 😂 good info on the platform
Why not create a program that finds similarities between problem customers, and just stop renting to similar customers in the future.... oh wait.
Doesn’t work, just like renting.
@@trishajarrett1197 He's talking about being sued by Jewish law firms for racial discrimination...
Only phuck ups rent houses and cars. Good renters r unicorns
🏀 fans seem to statistically have lower credit scores and higher arrest rates, as opposed to say....chess fans
Does the interviewer on the right do voice work for ads that run on the PA in supermarkets?
Would have been nice to hear answer to the question about having to return it a 802 before going off at tangent about squatters rights
stealing hundreds of dollars a day is not a civil suit
"On no, so sad. Anyway..."
I don't understand how that could ever seem like a viable business model.😂
Scammy scammer gets scammed.
Being interviewed by even bigger scammers lmao😂
So put it in the rental contract that they can't use the car in that way or drive it out of state. Contracts are legally enforceable.
Contracts are civil law. They’re enforceable by the courts, not the police.
Thats still "civil". You can enforce it but you still need to go through the courts. Thats why house squatting was can be so difficult to deal with
Don’t rent to certain types and all would be well.
Moral of the story.... don't buy a Lamborghini and Ferrari if you don't have $5000 cash
So how is hertz getting people arrested for grand theft?
Rules for big businesses are vastly different from rules for normal people.
And now let's get back to the rest of the episode.
Just do some 'hawk tuwa' videos. No more money problems. 🤣
Invest in some clip on mics
Nobody intelligent drives a Lotus.
I'm literally a Mensan who is about to buy an Exige. 😂
WELCOME TO ATLANTA WHERE THE PLAYERS PLAY. 😂😂😂. You couldn't pay me enough to run an exotic car rental here in ATL. Neva. Eva. Eva. EEVA.
Is that the Houston Bugatti?
Can't you get them for, Theft of Service?
He looks like an older brother of the property brothers
Wonder what the demographic was 😂😂
It was a bunch of white guys, obviously
let me put down my avocado toast and wipe a tear from my eye.
What kind of car is the red one behind the guys ???
bugatti
"I didn't have $5000" says a guy who was renting exotic cars, just got married, and went on a honeymoon.
🙄🙄🙄🙄🙄
He's vested everything he has into that business and probably lives on credit cards.
Right? How does someone even get into the super car business living that close to the bone?
I would consider a used golf cart business severely under-capitalized if they couldn't cover a $5,000 expense!
I'm glad he wrote the bum check to that dude though.
Sooo, full value deposit? Easy fix:)
Hide an Apple Airtag or Tile tracker in the car.
If they're ripping the car apart to scrape the vins they will find the tracker.
@@n0oo7 That's how you find the chop shop.
Any car thief knows how to find them
Too much work to rent these cars.
stressful! at least car was still in the US
Is that birdmans bugatti?
FUCK YEAH IT’S Grand theft auto!! Ask me how I know…I’ve been to prison over a God damn rental car!! Here in Las Vegas, Nevada it’s ABSOLUTELY GTA!! And is prosecuted as such!!
i thought it was theft of parts, car parts
Supercar rental is lame.
Oh no. What will the middle class do without the supercar rental market? Devastating
Who cares about poor people
It also impacts the regular rental market, raises insurance premiums, and ultimately affects lower-income groups. Why not dig deeper than surface-level analysis? That's so 2008.
You sound like a poor democrat
Communist much?
Bro your selfish imagine that was your business and you depend on those cars to feed your family and grow your business. Shame people like you only think about themselves. Im broke and a college student and I still have sympathy for people who are much richer then me life’s not easy. Even people with money still have everyday situation to deal with.
I speak for every average person we don't give a s***
How do you not have lapel mics? Y'all look amateur holding them
All of us working class people are crying our eyes out about this story! You guys have it really ruff.
Lucky Lopez? 😂
Lucky Lopez is a dreamer. Everything he plans never goes into place
Change your contract.
OH! Ok, he’s selling his product. Thats why he has such a BS story
He absolutely is not in this industry anymore. Do you even know who he is?! Lmao
All this bullshit, why even bother building a business in this industry?
the mew video format is annoying. truo or that rental service is a money-loser and we saw last week how it's an open door to problems. These cars should have geofencing capabilities like many other vehicle rentals do
Fake, this is not correct at all 😂
Fake ? These guys are legit..el reta..
So the owner has enough to buy and rent out sports cars but doesn’t have enough money for a lawyer and barely enough to tow the vehicle. Just seems a bit of a lie
Renting exotic cars, having a wedding and going on honeymoon, yet doesn’t have money for a lawyer or can afford 5k. Does sound shady and probably fiction.
@@mytinfoilhat6865 No, Graham certainly isn't legit. No real man drives a Lotus or drinks iced coffee. And look how short he is!
I wish this channel would stop popping up on my feed. No one wants to watch Pete butttigug do car interviews.
I know that the “financial advisor” grift didn’t go too well and now you’re pretending to be an interviewer. Terrible interviewing style. I totally wouldn’t have watched this at all if it wasnt Ed Bolian. I wonder how many people lost their shirt over the crypto advice.
Rabbit. Rabbit. Maybe. Next time. A. Picture. Of the man. God bless
Graham sucks
Agreed
I think those microphones are WAY too small…
PS, I can’t watch a single video you guys post until you get larger microphones : /
1st
Moral if the story why cars need to be robust and planned obsolescence wont work
People are shit these days. Thats the real issue.