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How much for rental?
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Author:  danny7147 [ Sat Dec 20, 2014 5:02 am ]
Post subject:  How much for rental?
Hi all! I need some opinions... I'm not going to give our company name for obvious reasons, but I'd really like to hear some opinions.

We've been established about 6 months. We've gone from nothing to dominating the local airport transfer market with bookings coming out of our exhaust pipes. We've gone from one car, to two (which we see as our spare) but now have the need to get car number three on the road. We don't get a great deal of local work... we get some, but the local market is dominated by the big companies and to be honest I've got no real interest in it. I take bookings if we get the calls, but we don't publicise. We are, however, page 1 number 1 on Google for airports and ports for every town within a 40 mile radius and we get a lot of long distance. That's us.

Well, car number three is nearly ready to be taxi'd up, and the intention is to rent it out... but I'm really wondering how to, and what to charge. Basically, there's no finance on it, it's our car. We can't guarantee bookings but local rank work always generates £300-£350 for a weekend without any problems. We would, of course, give the driver airports as they arise but we have manic and dead periods.

I was reading an advert on Google that does it a very clever way... with them, they charge £x if you want to rent the car from them with insurance, or £x(less) if you rent it and organise your own. I quite like the thought of that. Because we've only been going 6 months fleet insurance is very difficult to get, and the quotes I have had have been far more than insuring the three cars individually, so that's why I'm looking at that option. We don't necessarily need to make money out of car 3, we just need to cover the work and get our name out!

So what I'm thinking is £50 a week without insurance, or £100 with. Rank work, as any local driver will know, will pull in £400+ a week without airports, or with airports the sky's the limit!

So does that sound reasonable? Should I charge more? I'd struggle to charge less, £50 a week covers maintenance and tax etc!

What's your thoughts?
Author:  Nidge2 [ Sat Dec 20, 2014 6:54 am ]
Post subject:  Re: How much for rental?
£210 a week all in is reasonable.
Author:  MR T [ Sat Dec 20, 2014 8:52 am ]
Post subject:  Re: How much for rental?
Quote:
£50 a week covers maintenance and tax etc!


In your dreams..

Quote:
I was reading an advert on Google that does it a very clever way... with them, they charge £x if you want to rent the car from them with insurance, or £x(less) if you rent it and organise your own. I quite like the thought of that. Because we've only been going 6 months fleet insurance is very difficult to get, and the quotes I have had have been far more than insuring the three cars individually, so that's why I'm looking at that option. We don't necessarily need to make money out of car 3, we just need to cover the work and get our name out!


Your car.. their Insurance....Who get's the cheque on a payout..
Author:  grandad [ Sat Dec 20, 2014 12:33 pm ]
Post subject:  Re: How much for rental?
MR T wrote:

Your car.. their Insurance.

That would worry the hell out of me. We insure all the cars that we own.
Author:  danny7147 [ Sat Dec 20, 2014 8:01 pm ]
Post subject:  Re: How much for rental?
£210 is what I'd expect to be paying a company that has a lot of local work coming in... we are busy with airports, but I need to put it in perspective.

Car 3 isn't designed to make us money, cars 4+ can do that, car 3 is to basically give us a backup and get our name around town. Regarding £50 a week for maintenance etc, our cars aren't new... but the £2600 a year that would generate would amply cover anything that could arise... I'm really not worried about that at all.

I'd also prefer to keep all insurances in the company name, but I'm interested to know what I should charge weekly to cover it. £100 a week may not sound a fortune, but that would cover the insurance, tax, maintenance etc which is mainly what we need.
Author:  wannabeeahack [ Sat Dec 20, 2014 9:30 pm ]
Post subject:  Re: How much for rental?
You dominate an airport with just 3 cars?....


Image
Author:  Sussex [ Sat Dec 20, 2014 11:39 pm ]
Post subject:  Re: How much for rental?
danny7147 wrote:
What's your thoughts?

I think a balance needs to be made where you earn money, but the driver earns a reasonable living.

Look up what the average regional wage is for your manor, think you can find it on your local council site, or the ONS.

That's what the driver should be taking, and you can have the rest.
Author:  wannabeeahack [ Sun Dec 21, 2014 9:47 am ]
Post subject:  Re: How much for rental?
here, £320 a week "just add fuel" or £60 a day for 12 hours getting fed to [edited by admin] to cover it
Author:  wannabeeahack [ Mon Dec 22, 2014 7:44 pm ]
Post subject:  Re: How much for rental?
talking to an under-25 tonight whose had his rent upped to £335 a week to cover an extra insurance premium due to his age
Author:  southwalesph [ Fri Dec 26, 2014 2:44 pm ]
Post subject:  Re: How much for rental?
Bloke round here charges 120 per week. You then need to pay radio settle of 80 quid. cheapest I've seen and no idea how he makes money. Probably cheaper than owning a vehicle!
Author:  Cabby John 1 [ Fri Dec 26, 2014 3:32 pm ]
Post subject:  Re: How much for rental?
You need to go with your local market.....and I do not mean Tesco.

All business is full of skulduggery and snooping! In fairness it is needed in order to find out what the other traders are doing i.e Tesco/Sainsbury/Morrison's whoever can only charge so much and as such keep an eye on one another.

In your case you should be ringing around as a perspective driver for other companies to find out what they charge ! Then you have to realise that being in business is about generating enough profit from ALL angles, to replace stock that is going to fall apart at some time in the future....the figures that you mention are not realistic for rental. They may not be new vehicles, but you can be rest assured that others will treat them like crap, and the vehicles will become older before their time.

P.S. If you have a car (3) then it is a cost into the business.........do not be blasé about it, use it to make money or you will not be in business for very long.
Author:  Sussex [ Fri Dec 26, 2014 9:00 pm ]
Post subject:  Re: How much for rental?
wannabeeahack wrote:
talking to an under-25 tonight whose had his rent upped to £335 a week to cover an extra insurance premium due to his age

He needs to get another job, that's an obscene rental price.
Author:  wannabeeahack [ Fri Dec 26, 2014 10:07 pm ]
Post subject:  Re: How much for rental?
Sussex wrote:
wannabeeahack wrote:
talking to an under-25 tonight whose had his rent upped to £335 a week to cover an extra insurance premium due to his age

He needs to get another job, that's an obscene rental price.


The firm has about 10 full time renters at £320 a week, some get a 2010 Octavia, 1 has a 58 plate Mondeo estate...


There are also some who rent just per day at £60/day and cant take the vehicle home
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