Why Exotic Car Rentals Fail
ฝัง
- เผยแพร่เมื่อ 6 มิ.ย. 2024
- Why Exotic are not the best way to start a rental car company
Book a Consulting call with Lucky
Sign Up for Our Online Community
automotivelife.com/#section-d...
Contact me at Lucky@Automotivelife.com
Text Only!!!! 24/7 702-550-7447 Text Only!!!!
Visit Our Website for Online Courses & Consulting
www.AutomotiveLife.com
IG 📷: / luckylopez
FB: / automotive-life-207241...
FB Group : / 902062033615916book a - ยานยนต์และพาหนะ
I'm a car dealer for around 20 years here in the Houston area, I can vouch for everything he said here.. Also his assessments are pretty much always on point! He really is giving you guys the truth on the industry..
I am a native of Central Florida and my rental advice is always rent a black limousine. Black limo's are always cleaner. White limousines are used for weddings and parties and often teenage girls get drunk in them and barf on the floor. Black limousines are always business rentals and funerals and are naturally cleaner.
Also people rent a car and steal the parts/motor/tires off the rental and put their crappy parts back on
Yeah my buddy got a motor swapped out in a vette
@@LuckyLopez777 hard to believe, bro
@LuckyLopez777 let me guess, they threw in an iron block one
I read an article where someone actually did that to one of the Hertz Mustangs back in the '60s.
That's a worry with ANY rental car, heard about people doing that with a carolla. If you rent out any car you should have some mitigation in place for that (engine part pics, labels, and tamper tape or others)
Classic example of it takes 10 to make you and 1 to break you.
What you know, Lucky, cannot be learnt from a business school. It's called acumen and wisdom. Shame so few folks will listen. Thanks bro!!!
thanks for the great comment
Ferretti was just talking about Aston Martin 😅 they don't do well for him.
Definitely not a popular car
I tried to flip a 2019 Honda Civic but I paid too much. I put the car on Turo for six months and I was able to get out of the car with a profit but the hassles that come with renting to strangers was not worth it.
Commercial insurance isn't just expensive on rentals. My son, using my car wanted to do uber eats driving. I checked with my insurance company and they said it must be insured commercial which cost, in my case 3 times what I was paying. What happens if you don't and get in an accident? They'll pay nothing because you were using it as a commercial use car.
its crazy $$$$$
Not only will they pay nothing, they will deny the claim (so if your son were at fault, you'd have zero liability protection). Also would be considered material misrepresentation which is illegal/ insurance fraud. They will drop you after they deny the claim.
It's terrible. Uber/Lyft needs to provide their own insurance for their drivers OR provide a monthly credit to account for the increased insurance cost to be in compliance with the policy.
How would the insurance company know you were Uber eats
@@deforestbland3015 if you are involved in an accident and any other party becomes aware that you are an Uber eats/door dash etc driver, if they mention it when they give their statement to any of the insurance companies, they will report it to your insurance.
You would have a hard time hiding that you are Uber eats unless you moved the food/logos without them seeing it. Regardless, when your insurance company calls to get a recorded statement, you can lie but if they find out when they get statements from other involved parties, you're screwed.
I'm not trying to scare ya but I am 100% sure that this is how it plays out and it is very common.
@@deforestbland3015they have computer programs now where they can see that your getting paid out by gig apps. Lucky actually talked about on this channel because of turo. Car insurance companies can see if you’ve been paid out by car rental apps then drop you. That tech went next level. Big shocker
Man I never intended, wanted, or even considered making an exotic rental. Still fun to watch your videos
I can't wrap my head around the fact people are willing to give up their their $200k financed car to some random people to beat for a weekend?! Like wtf?
🎉🎉🎉 Hi 👋🏼 Lucky
It always impresses me when I hear professionals like you talk about things you know and know well!
Thank you Sir and have a great weekend.
Blessings,Carlos ✝️🙏❤️😊🇺🇸
Interesting insight.Always enjoy hearing your opinion.
Stellar video today Lucky!
I run a very successful exotic rental car business. I have a fleet of Fiat 500s in Epic Blue. I'm booked solid for the next 6 months. Winning!
Great video. Would love to see Luckys take on Turo rentals. Lots of vids claiming ppl making $$ on buying and renting small fleets on Turo. Very tempting for younger folks who love cars and have an entrepreneurial mindset. Luckys breakdown of this biz model would be interesting.
Lucky - the most important part of a TH-cam channel is the main character/s - you’re a great “character.” I mean that in the most complimentary way. I mention the above because it occurred to me…you should expand your channel. You don’t need perfect filming or editing, you just need interesting ideas for content (car related). Anyway - just a thought. Back to my bourbon 👍😎
Love Lucky !
Good video thank you!!!
I think luxury rental is good business on Turo if done right and of course depending on your location but luxury doesn’t mean 300k car you can have luxury at 50k …
BTW Turo insurance is 200k
Again thank you for your video
I don't know if they still do this but these guys would park a Ferrari or Lambo right on the strip in Vegas with a cheap sign for like $800 a day or something. The cars looked ok from about 20 feet away but the closer you got the more beat to crap it looked lol. The dudes were always super sketchy too haha
Turo now covers $200,000, but the rental game is not really profitable anymore unless you are renting out economy cars on Turo - it’s a grind. If you want to start a business and haven’t purchased any cars yet, consider RE before this.
Pad slap makes sense on a rental especially if it still operates fine
"Lucky is not the exotic car hero we deserved but the exotic car hero we needed."
Yessssss 😁👍
Why in the living Hell would anyone want to get into a exotic car business.
Their Denial meter must be pegged.
They want to own an exotic, but have other people pay for it.
Finally closed dat mouf on the thumbnail 😂
got some new poses coming soon lol
@@LuckyLopez777 😂
In Vancouver, exotic rentals are doin’ dandy - renting only to movie companies. No risk. BIG bucks. Return business…
Long island NY, MVP car club is awesome! They have cars like c43 amg bronco and m2 all the way up to Lamborghini and rolls
thanks for Sharing
Can you do a review on MurciLuxury, they are always boasting about Exotic Car Rentals
A guy just brought up a Gallardo and an r8 to Anchorage Alaska. Only 5 months or so of driving season for
Those.
I would say New York would not work because your season is May - September. You have to be in a big city with lots of money from tourists south of the frost belt
After all that damage in Miami to the car, did you still rent it?
Insurance has really become the turd in the punchbowl lately. I've got three modest rental properties and the basic-structure policy on those went crazy this year. Can't imagine trying to get a policy on a ridiculously expensive car that random people fully intend to flog the ever-lovin' hell out of.
$$$$$
I don't know what the video is about, but according to the TN lucky found the fountain of youth and I want some.
Bro why are you using stills from when you were young and fit?
LUCKYYYYY!!!!!!!
The payments, insurance and maintenance of these vehicles is crushing in and of itself. I can't imagine having to pay money to service them after letting people rent them.
I rented a Mercedes Maybach from a Exotic Rental company years ago. There were lots of broken parts and squeaking surfaces from wear. I think they put off servicing the car with Mercedes to simply sell it off. Renting a Lamborghini, Ferrari or McLaren - all the costs just skyrocket.
How’s the 6 x build coming along?
New Video coming soon. had a hard time finding a painter
I find it interesting that people pay you for consultations but decide not to listen to you.
I live in Orlando, I would not know if that would be a good place for exotic rentals
Vans are the big money in orlando
When someone says "profitable small business", the last thing I think is exotic car rental! 😆
From what I've seen on TH-cam, nothing pulls views like Lamborghinis
Three reasons people go to Las Vegas: drinking, gambling, and whoring. I will never understand why anybody would choose to gamble
dont forget the food lol
A 10😂
@@LuckyLopez777 the best part of vegas is the pre-sliced crab legs!
Shooting an automatic weapon which is a blast....There is a difference between gambling and using money to have fun. As long as you stick to a specific amount and have fun With it, when you run out, you run out. Go find something fun to do other than gambling like shooting an automatic weapon which is a blast.Or if you win, walk away.
@@michaelbuteau4183 i'm sorry you don't understand the definition of gambling. And you might find it more fun to fire an automatic weapon. If you shoot one then you just have to get it repaired
Royalty seemd to be going ok
❤❤❤
A 144 month car loan term... Jeez! 😅😂
Tell that to rob spaghetti lol. He’s been successful for years
I know Rob that why I mentioned him 4 times in this video lol He will be the first one to tell people it’s a nightmare
even if you could afford to run an exotic car rental car company, why on earth would you want to? do you like to lose money, be upside down on loans and pay a million dollars to an insurance company?
Exotic rentals are surprsingly good off-roaders. A Lambo can go 80 percent of the places a lifted pickup can go, and getting it back is the rental company's problem, not yours.
Of course they fail!!! Anything that isn’t sustainable won’t be sustainable. Loaning higher end vehicles out to people who can’t afford to purchase them can’t work, how can it??
to run it right with proper insurance and maintenance is expensive. plus you are competing against every moron on toro.
then you have all those shady guys that freeze the odometer and roll it back
Talk about paying for a bs job. To answer your question, no I had no idea people paid to
Have stupid businesses like this.Cigarette burns in a Aventor??? Yuk! Living the dream. Not really.
Remember that football rookie that crashed 2 exotic rentals in Texas & just walked away while being videotaped? People were injured and several cars were damaged.
If it a business you have to charge premiums for certain races of people. It’s a sad reality.
14:36 “personal loan”
Woah
Maybe he should’ve studied more about the game of money
Unlike major tourist destinations or business hubs, Oklahoma City doesn’t have a high volume of tourists or high-profile business travelers who typically rent exotic cars. However Oklahoma City has been experiencing economic growth and development in recent years, it remains a challenging endeavor given the initial market conditions. As someone who live here for over 20 years and not planning to move away. I would love to see the change in my life time.
AI
First!
Yessssss
Believe on the Lord Jesus Christ and thou shalt be Saved.
Acts 16:31kjv
For by Grace are ye Saved through Faith; And that Not of Yourselves: It Is the Gift of God; Not of Works, Lest any man should boast.
Ephesians 2:8-9kjv
And this is the WILL of him that sent me, That Everyone which seeth the Son, and Believeth on him, May have Everlasting Life: And I will raise him up at the last day.
John 6:40kjv
For God so Loved the World, That he gave his only Begotten Son, That Whosoever Believeth in him Should Not Perish, But have Everlasting Life.
John 3:16kjv
Friend, Do you Believe in Jesus Christ Alone for Salvation and the Free Gift of Eternal Life? Yes/No
Your videos and views are going into the crapper, yhe market, viewers, are taking their tume elsewhere. Your day has passed. 500k+ subs and less than 10k view. Game over!!