From experience I think that it was added in correctly but then someone cut some prior video time which made the bleep sound later in the video and not realized it.
"Who insures you?" and "Will you rent my car out and make my payment" are the questions you get daily in this business. Thanks for sharing the answers Rob. 100% correct.
FINALLY someone on TH-cam explains that a correct set of books and accounting records are one of the things necessary for running a legitimate or "real" business....So many people go into business with an idea, but with no plan...
@@ななころび ummm. I feel a little weird having to point out to you that you wasted time typing out a stupid, yet genuine question in reference to a joke statement.. You actually found your way out of bed this morning with zero help?
I'm an insurance agent that specializes in these sorts of high-risk businesses. I always appreciate Rob discussing insurance regarding the exotic car rental business. He makes really solid points.
@@jeradsteinfeld7911 Joe ferretti killed a motorcyclist while recklessly driving a Gotham Dream Cars 430 spider. Gotham rent a wreck's insurance had to pay out on 2 totaled Ferrari 430s and a fatality. Look it up on Google
@@jeradsteinfeld7911 Joe ferretti was working for Gotham rent a wreck when he killed that motorcyclist. Joe ferretti was on the clock and Gotham's insurance had to pay out on that fatal crash. That's a very expensive insurance claim
I've been almost religiously following Rob since Super Speeder days and I can honest say he has pretty much seen and dealt with it all at least once when it comes to rental car stuff haha genuine bloke! Love from Oz (Land Down Under) :)
Wow you just explained the state fund forcing high risk insurance onto carriers reminds me of the federal government forcing financial lenders to have to take on toxic home loans. And that led to an industry crash.
The correct answer to a random caller asking for your insurance policy is, "Unless there is an incident with one of my vehicles that's been documented by law enforcement, that document is proprietary business information. If you're looking for insurance for your own company, I can give you the contact information for my insurance agent. Please mention my name so I can get a referral bonus."
I met Rob twenty years or more ago at the NY auto show. He was just selling VCR tapes of his escapades with exotic cars, sitting in these metal chairs at his table we BS'd about NYC and drivers of his cars.
The fire thing happens to autobody shops too- had my car in one and it was destroyed- as the owner was charged I got nothing from their policy and had no coverage on mine by by S-type Jag
@@HAMMER8181 Once had a customer come in, buy a maseratti granturismo for $115k. Came back and traded it equally for a almost new (57 miles Avalanche Gray with blue stripes) shelby gt350 after hours of arguing and the cops being called because he swore we robbed him. Stories involving a Viper being towed by the wrong company. Dude was supposed to pickup a red "sports" car. He was there to pickup our Miata Mx5 that was also red. Took the viper to the wrong house. Paul Walker Porsche 918 Weissach package being sold by us. How we acquired it. Porsche contact made.
Interesting article and a very smart guy. What I took from it is if you own a supercar and have to rent it out to make money - probably to help make the payments - you are probably not rich enough to own one in the first place. A poseur and nothing more.
I was totally amazed to meet Ferrari Drivers leasing their cars for several thousand dollars a month. If you can't write a check for an exotic you likely cannot afford it--Certain tax situations excepted.
I rented a nascar racecar for 30 minutes. It had a 10,000 customer deductible. These were retired racecars with total values under 36k. Id say they found a way to make insurance cheap, ie. Customers self insure the first 30% of claims.
Also noteworthy, customers didnt fully digest their financial risk. They probably thought their own policies would cover it , which is absurd...not exactly a hertz rental. Altogether a sweet deal for the rental company
Rob really needs to offer seminars or consulting services on the dark side of the exotic car rental business. For a 10,000 service fee he can save you 100,000 😆
I’ve had a front seat to auto insurance fraud twice in my life. Each time it was a next-door neighbor who had a “mishap” while washing their expensive luxury SUV. Both times they said the same things, using the same excuses. This also just happened to occur in a place on their property they never used before to wash anything that just happens to be far enough away the fire wouldn’t affect the house. One even left a box of 40 S&W underneath a seat to guarantee it would be totaled.
it is call the FAIR plan....fair access to insurance regulations....i am in real estate and most states have it..its basically a last resort when a private company wont insure a property and it is ridiculously expensive....i can only imagine on a fleet of supercars..
Best video I’ve seen on this topic. I’m in New York I purchased Vechiles for turo and ended up running into sooo many issues just with the vehicles and insurance. I’ve even financed and luxury vehicle to operate in this space, I’m hit so many walls I’m taking so many “L”s. can u help me?
This is the same reason you see so many super small companies renting bounce houses for kids parties. The little guy can undercut the prices of a company that has legit insurance. And when a big claim happens the little guy is not worth suing and he will just start another bounce house rental company under his cousin’s name.
Pretty smart. They own zero inventory and there for have zero liability or over head. Simply a supplier to the consumer thru third party. Make ur cut and dip!
Sir Ed, I regret to inform you that I do not currently own a domicile of my own, or any other product needing insurance. unfortunately I rent from a local to put me up. it is therefore not possible for me to have "homeowner's insurance". I also do not posses anything qualified as collateral for a reverse/fixed/otherwise mortgage plan. while I enjoy greatly the stories you and your compatriots post on TH-cam I can not currently support you on means other than the ad revenue built into TH-cam's website/mobile/other platforms.
ya its a ballooning of costs, also in the uk the ambulance ride and emergency room visit is "free" (paid for by government)... In the US its not so when everything gets added together it adds up quickly.
9:00 I guess they are doing it though Turo these days, which unfortunately is real strong competition for guys like you, who built proper business with years of work. Even though you showed the bad condition of the Turo rented black Mercedes, most people won't care the wheels are curbed, and the paint has scratches, under light from 6ft. The car still looks a shiny Mercedes from
![[MV] A leap of faith...ความเชื่อใจครั้งสุดท้าย (From "Petrichor the series")](http://i.ytimg.com/vi/U1piZH2CNXA/mqdefault.jpg)
I know a lot about the rental business but Rob really is the expert. I am glad we are able to make things like this public. Great info.
Damn
I guess that means youre the Rent Boys?
@@mycosys Yea at one point he was.
You always have interesting videos. I learn something every time I watch.
Ed's the kind of guy to--
Shit, wrong channel
Gotta love that delayed bleep when Rob said shitshow, lmao
And the unsynchronized outro ad-read
That was the funniest part of the video
so good
From experience I think that it was added in correctly but then someone cut some prior video time which made the bleep sound later in the video and not realized it.
@@joemama38 0a
"Who insures you?" and "Will you rent my car out and make my payment" are the questions you get daily in this business. Thanks for sharing the answers Rob. 100% correct.
how is your day guys?
Thanks for all of the great content! Keep it up, Ed 👍
jeeze, Rob is so cringy....
Who is checking the audio sync is something you should ask of your video editors too ;)
I love seeing this guy on VinWiki. He doesn’t come on much and doesn’t post regularly on his own channel, but every time he does - it’s a treat
he posts weekly on his channel
Rob, Mr. Superspeeders himself
He post almost every day
Fraudsters hate him for this one weird trick to running a legit business.
Today Rob Spaghetti explains how people try to sell him their meatball recipes even though Mr. Spaghetti already has the best recipe.
Stop. It hasn't ever been funny
@@HaydenKink yeah kinda beating a dead horse by now.
I like it
@@radude4763 I like it too.
I missed these jokes.
Thanks mate
FINALLY someone on TH-cam explains that a correct set of books and accounting records are one of the things necessary for running a legitimate or "real" business....So many people go into business with an idea, but with no plan...
9:46 lol editor missed the beep... must've been off the WhistlePig
“You shouldn’t be running around relying on a felony to run your business” damn that’s one of the best mic drops I’ve heard on here lol
Mic drop. Lol
I just use my personal insurance for my exotic car rental business.
Never had a problem in 10,000 rolled back miles.
How are customers covered with your name on the policy?
@@ななころび They aren't.
@@ななころび ummm. I feel a little weird having to point out to you that you wasted time typing out a stupid, yet genuine question in reference to a joke statement.. You actually found your way out of bed this morning with zero help?
9:47 that delayed bleep audio haha
Man I love these videos from Rob. He definitely has been around the block and his free business lessons are always entertaining.
I'm an insurance agent that specializes in these sorts of high-risk businesses. I always appreciate Rob discussing insurance regarding the exotic car rental business. He makes really solid points.
Rob's brother is currently serving a 5 year prison sentence for vehicular homicide. That's a big insurance claim for sure!
@@HUTCH993 I'm sure that would be. Rob does a great job explaining business insurance coverage. So I don't know what that has to do with anything.
@@jeradsteinfeld7911 Joe ferretti killed a motorcyclist while recklessly driving a Gotham Dream Cars 430 spider. Gotham rent a wreck's insurance had to pay out on 2 totaled Ferrari 430s and a fatality. Look it up on Google
@@HUTCH993 That’s horribly tragic, but what again does this have to do with what I said?
@@jeradsteinfeld7911 Joe ferretti was working for Gotham rent a wreck when he killed that motorcyclist. Joe ferretti was on the clock and Gotham's insurance had to pay out on that fatal crash. That's a very expensive insurance claim
The fraud bois not boutta like this one 🤣
My first time driving a Ferrari was with Gotham. Awesome experience and awesome people!
Always good seeing Rob Ferretti back on here, The guys a legend!
Rob spaghetti gotta love this guy. He tell you everything no one wants to hear but must be said. Stand up man for sure
He mentions Miami and I had to laugh! What I like about Miami is that it’s so close to the United States.
Either audio sync was off for the Ed’s commercial at the end of the video or I started drinking to early.
Thought I was the only one lol
Thanks Ed, Rob is a very experienced man in exotic cars and we all benefit from his experience.
The guy in charge of bleeping has the reaction time of a koala 🐨 bear
What about a lazy orangutan 🦧?
I've been almost religiously following Rob since Super Speeder days and I can honest say he has pretty much seen and dealt with it all at least once when it comes to rental car stuff haha genuine bloke! Love from Oz (Land Down Under) :)
Oh i knew this would be Rob just by the title.
lol
Whom else would it be tho...???😅
@@MrMaxyield No idea, but when I posted it I was thinking he was going to talk about odometer cheating.
Or do what Royalty Exotics does charge your insurance company for preexisting damages to the vehicle that was there before you drove it
That 9:45 delayed beep is fantastic
Wow you just explained the state fund forcing high risk insurance onto carriers reminds me of the federal government forcing financial lenders to have to take on toxic home loans. And that led to an industry crash.
that’s not what happened whatsoever
watch the movie “the big short” it’ll explain what actually went down
Is it just me or he sounds kinda like bill burr?
He's car Bill Burr for sure.
"Welkome to Gawthum Street Cawz!"
Similar pace and cadence, voice isn’t similar
Wow, there's some real sound advice and food for thought in this video about starting any business really! Great video!
From an insurance perspective in Atlanta, listening to Rob and Ed explains a lot...
Am I missing something? I love how Rob explains things and haven’t seen him on this channel for a long time!
Good ol Mr. Spaghetti talking about people trying to take his meatballs without paying.
That beep was on its own timeline in the editing bay. LOL.
Very insightful. Especially the why you start a business part at 7:50
An Insurance lecture from the guy who raced over the Skyline Bridge, 2020 real does have everything!
Great watch!! Always love seeing Rob on the channel!
This is an honest business man that understands the importance of building up value in a business.
Clicked on this automatically thinking about that exotic car hire race track in las vegas 😂😂😂😂
Love this guy. So down to earth and matter a fact. Wish I knew people like these guys. I Always learn something
The correct answer to a random caller asking for your insurance policy is, "Unless there is an incident with one of my vehicles that's been documented by law enforcement, that document is proprietary business information. If you're looking for insurance for your own company, I can give you the contact information for my insurance agent. Please mention my name so I can get a referral bonus."
Today on Vinwiki, Rob Spaghetti talks about the average business owner in his native homeland of New Jersey.
Used to watch mr spaguetti long time ago, good to see him in this channel, he always has nice content :)
Doesn't matter what business, nobody seems to plan on selling it at 1st. Obvious sign is when they name it after themselves lol. I'm a signman
I met Rob twenty years or more ago at the NY auto show. He was just selling VCR tapes of his escapades with exotic cars, sitting in these metal chairs at his table we BS'd about NYC and drivers of his cars.
I get charged 25k/year/truck for commercial car hauling insurance. Its about to go to 45k. So many frauds in trucking
8:00 decent career-oriented analysis of selling companies
9:47 Of all the things I notice...is the beep when he says sh t show...and how its offeset a good few seconds
The fire thing happens to autobody shops too- had my car in one and it was destroyed- as the owner was charged I got nothing from their policy and had no coverage on mine by by S-type Jag
My dream is to tell my crazy dealership experiences when I was working for Taggart Cars & Porsche
Lets hear it
@@HAMMER8181 Once had a customer come in, buy a maseratti granturismo for $115k. Came back and traded it equally for a almost new (57 miles Avalanche Gray with blue stripes) shelby gt350 after hours of arguing and the cops being called because he swore we robbed him.
Stories involving a Viper being towed by the wrong company. Dude was supposed to pickup a red "sports" car. He was there to pickup our Miata Mx5 that was also red. Took the viper to the wrong house.
Paul Walker Porsche 918 Weissach package being sold by us. How we acquired it. Porsche contact made.
@@glazedegyptian def a good one
When Rob talks, it reminds me of the kid on the little league team that drinks Gatorade by shoving his lips into the bottle
I sense a re-upload. Sound is waaaaaay out on the outro
It is
Ed, did you re-record the policygenius ad audio, then dub it over the old ad footage and think we wouldn't notice? lol
It was off by a solid second and a half 😂
The audio was off from the video
My god what a smart guy....and modest...
@1:40 He says"INSURANCE FRAUD" and an insurance ad pops up.🤔
Interesting article and a very smart guy. What I took from it is if you own a supercar and have to rent it out to make money - probably to help make the payments - you are probably not rich enough to own one in the first place. A poseur and nothing more.
I was totally amazed to meet Ferrari Drivers leasing their cars for several thousand dollars a month. If you can't write a check for an exotic you likely cannot afford it--Certain tax situations excepted.
@2:39
Love the shirt, finally changed the logo to match the sign.
Love the videos Ed!!!
I rented a nascar racecar for 30 minutes. It had a 10,000 customer deductible. These were retired racecars with total values under 36k. Id say they found a way to make insurance cheap, ie. Customers self insure the first 30% of claims.
Also noteworthy, customers didnt fully digest their financial risk. They probably thought their own policies would cover it , which is absurd...not exactly a hertz rental. Altogether a sweet deal for the rental company
I like the off timed bleep 🤣
Love Rob. Dude is the Godfather of sports car vids.
Rob really needs to offer seminars or consulting services on the dark side of the exotic car rental business. For a 10,000 service fee he can save you 100,000 😆
Came for a car story, learned fantastic business advise.
Someone in AV is out of job in this holiday season
I’ve had a front seat to auto insurance fraud twice in my life. Each time it was a next-door neighbor who had a “mishap” while washing their expensive luxury SUV. Both times they said the same things, using the same excuses. This also just happened to occur in a place on their property they never used before to wash anything that just happens to be far enough away the fire wouldn’t affect the house. One even left a box of 40 S&W underneath a seat to guarantee it would be totaled.
“If you have to rely on a felony to be in business, you probably shouldn’t be in business. “ That should be at the top of every business license.
I feel like the majority of exotic rentals in LA don’t own their fleet. How is this possible!? 🤨
it is call the FAIR plan....fair access to insurance regulations....i am in real estate and most states have it..its basically a last resort when a private company wont insure a property and it is ridiculously expensive....i can only imagine on a fleet of supercars..
In Denmark we have Kenneth Falke. He almost got away until the sherif got him. He is now incarcerated in Kolding if i remember correct
Best video I’ve seen on this topic. I’m in New York I purchased Vechiles for turo and ended up running into sooo many issues just with the vehicles and insurance. I’ve even financed and luxury vehicle to operate in this space, I’m hit so many walls I’m taking so many “L”s. can u help me?
People are saying the audio is off at the end, but Ed did it on purpose, for subliminal ad effects.
The Bill Burr of exotic cars on TH-cam. I love it.
I really like these videos, super interesting info, this and stuff about sales and leases and stuff
So, Rob's "beep" was on the same audio track as Ed's sponsor promo, eh? 😏
Nightclubs also have problems with spontaneous combustion.
Today Mr. Spaghetti explains how to get a few extra meatballs out of your policy
Woah guys...dont bring me into this 😵
This is the same reason you see so many super small companies renting bounce houses for kids parties. The little guy can undercut the prices of a company that has legit insurance. And when a big claim happens the little guy is not worth suing and he will just start another bounce house rental company under his cousin’s name.
Hey Ed. The ending had a mismatch on audio and video.
This exact scenario plays out across all high-risk industries to some extent or another. Just with different assets instead of cars.
Swift Exotics in NY rents out Mod2Fames Hellcat Redeye, I wonder what the deal with that is....
Last time I was this early, the Viper was still spinning.
FYI Audio sync issues on the policy genius spot at the end.
This video > every other VINwiki video because of poor editing. Do this more often ❤️😂
In Miami, this is what MPH Club does, rent other people's cars. Clearly an odd business model if you think about it.
Pretty smart. They own zero inventory and there for have zero liability or over head. Simply a supplier to the consumer thru third party. Make ur cut and dip!
It's called brokering. Like the comment above me. A really smart idea if you knew anything about the business world.
Up next...
Hoovie's Exotic Car Rental
Great insight for any business
The fact that the state can force an insurance company to insure a high risk customer is insane.
I watched the commercial at the end and was very impressed by Ed's ventriloquism skills.
It's crazy how the comments aren't about spaghetti or pasta for once 😂
Take a scroll, you'll be disappointed.
@@thegirthquake8574 ahah i must have just been early
Yup us spaghetti folks are slacking today we’re here just late
Today, Mr. Spaghetti educates us on why it's important to have genuine meatball insurance.
Sooo did Ramon get his car fixed?
THIS GUYS HAS THE GIFT OF THE GAB ALRIGHT LOL
Sir Ed, I regret to inform you that I do not currently own a domicile of my own, or any other product needing insurance. unfortunately I rent from a local to put me up. it is therefore not possible for me to have "homeowner's insurance". I also do not posses anything qualified as collateral for a reverse/fixed/otherwise mortgage plan. while I enjoy greatly the stories you and your compatriots post on TH-cam I can not currently support you on means other than the ad revenue built into TH-cam's website/mobile/other platforms.
Company in Boston...who was it?!?!?!
2.5 million for injuries?
In the UK you might get 10k 🤣
ya its a ballooning of costs, also in the uk the ambulance ride and emergency room visit is "free" (paid for by government)... In the US its not so when everything gets added together it adds up quickly.
Yea it's not 2.5 million for 3 people. Anywhere from zero to 10k per person is the usual but that really depends on location.
Aaaahhhh yea boy mr spaghetti on a Monday morning
@9:44
"Shit Show" is censored, but the "BEEP" is maaaaaaaad late! LMAO! I LOVE IT! TELL (ME) I'M THE ONLY ONE TO NOTICE THIS!😮
*ding* rob:(looks at his phone" his phone: The IRS wants to know your location
9:00 I guess they are doing it though Turo these days, which unfortunately is real strong competition for guys like you, who built proper business with years of work. Even though you showed the bad condition of the Turo rented black Mercedes, most people won't care the wheels are curbed, and the paint has scratches, under light from 6ft. The car still looks a shiny Mercedes from
Its so nice when you have one of your friends that is actually classy. Mr Spaghetti is the best. As opposed to Doug T
Mr Ferretti is a legitimate businessman