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 Potential Disruption to Car Rental Industry

Will you rent out your car to tourists?
 
Yes [ 10 ] ** [17.54%]
No [ 47 ] ** [82.46%]
Total Votes: 57
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TStongkualongan
post Aug 3 2017, 02:31 PM, updated 7y ago

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Dear All,

I currently run a tour business to get International guests to travel to Malaysia,

Among our potential guests, some will inquire about renting a car instead.


So I am toying the idea now of using sharing economy concept to rent out private owned cars to tourists , ( like Uber but to rent out cars )

Of course , the challenge i foresee are the insurance (car theft ) , wear and tear etc

To resolve this, I am thinking :

1) Day insurance that covers accidents/theft that car owners can buy
2) Device that Tracks the car location, acceleration/deceleration to ascertain wear and tear and potential theft
3) build a community of respect (like airbnb) between car owners and car renters , to instill trust and respect

Will you rent out your cars if the above are executed properly?

let's say you can get 100 - 300 myr a day depending on car model.


Appreciate your input.

Longan.
lsm1991
post Aug 3 2017, 02:56 PM

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no..... just no.....

have you seen how they trreat rented cars?? they slam doors, ding doors, use their feet to push doors open... hell no....

1) Day insurance that covers accidents/theft that car owners can buy
-to be practical these wont cover cosmetic damages.....
2)Device that Tracks the car location, acceleration/deceleration to ascertain wear and tear and potential theft
-how would one calculate wear?? heuristcally speaking it can be difficult to calculate
-there are many of these systems in place, but any self respecting thief would know how to disable them.

TStongkualongan
post Aug 3 2017, 03:13 PM

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QUOTE(lsm1991 @ Aug 3 2017, 12:56 AM)
no..... just no.....

have you seen how they trreat rented cars?? they slam doors, ding doors, use their feet to push doors open... hell no....

1) Day insurance that covers accidents/theft that car owners can buy
-to be practical these wont cover cosmetic damages.....
2)Device that Tracks the car location, acceleration/deceleration to ascertain wear and tear and potential theft
-how would one calculate wear?? heuristcally speaking it can be difficult to calculate
-there are many of these systems in place, but any self respecting thief would know how to disable them.
*
Thanks for your honest feedback , what if now , only restrict to passport with foreign driving license. Do you think it will reduce % rate of car theft?
lsm1991
post Aug 3 2017, 03:24 PM

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QUOTE(tongkualongan @ Aug 3 2017, 03:13 PM)
Thanks for your honest feedback , what if now , only restrict to passport with foreign driving license. Do you think it will reduce % rate of car theft?
*
it might, but in the long run i guess they will start using foreigners to do the same things.... not sure if one can verify if a passport is real or not.

still not sure how the day insurance would work, or what it covers.... i think that might be one of the difficulties in this venture

This post has been edited by lsm1991: Aug 3 2017, 03:26 PM
xemoboyx
post Aug 3 2017, 03:25 PM

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https://turo.com/rentals
aquilaTE
post Aug 3 2017, 03:27 PM

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QUOTE(tongkualongan @ Aug 3 2017, 03:13 PM)
Thanks for your honest feedback , what if now , only restrict to passport with foreign driving license. Do you think it will reduce % rate of car theft?
*
Maybe but one other problem you have to face is if the person commit a traffic offence and leaves the country, you are left with their summons.
TStongkualongan
post Aug 3 2017, 03:29 PM

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QUOTE(lsm1991 @ Aug 3 2017, 01:24 AM)
it might, but in the long run i guess they will start using foreigners to do the same things.... not sure if one can verify if a passport is real or not.

still not sure how the day insurance would work, or what it covers.... i think that might be one of the difficulties in this venture
*
thanks again ,just food for thought,

if we were to rewind 5 years back , would you sit in a car with a stranger ? and you trust the stranger to fetch you to your destination ? smile.gif

Longan


TheMrBinary
post Aug 3 2017, 03:31 PM

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Rental van much better than car if for tourist.
TStongkualongan
post Aug 3 2017, 03:34 PM

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QUOTE(xemoboyx @ Aug 3 2017, 01:25 AM)
great reference, thanks! so it is a working business model at least.
TStongkualongan
post Aug 3 2017, 03:35 PM

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QUOTE(aquilaTE @ Aug 3 2017, 01:27 AM)
Maybe but one other problem you have to face is if the person commit a traffic offence and leaves the country, you are left with their summons.
*
oh yeah, good note.. , havent thought of that part yet, thanks for that note.
TStongkualongan
post Aug 3 2017, 03:36 PM

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QUOTE(TheMrBinary @ Aug 3 2017, 01:31 AM)
Rental van much better than car if for tourist.
*
yeah , that make sense also, normally they come in larger groups.
xemoboyx
post Aug 3 2017, 03:38 PM

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QUOTE(lsm1991 @ Aug 3 2017, 02:56 PM)
no..... just no.....

have you seen how they trreat rented cars?? they slam doors, ding doors, use their feet to push doors open... hell no....

1) Day insurance that covers accidents/theft that car owners can buy
-to be practical these wont cover cosmetic damages.....
2)Device that Tracks the car location, acceleration/deceleration to ascertain wear and tear and potential theft
-how would one calculate wear?? heuristcally speaking it can be difficult to calculate
-there are many of these systems in place, but any self respecting thief would know how to disable them.
*
Meh.. i wouldn't mind renting my mum's old 2003 corolla for Rm200 a day.. whistling.gif
lsm1991
post Aug 3 2017, 03:49 PM

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QUOTE(tongkualongan @ Aug 3 2017, 03:29 PM)
thanks again ,just food for thought,

if we were to rewind 5 years back , would you sit in a car with a stranger ? and you trust the stranger to fetch you to your destination ? smile.gif

Longan
*
hmmm.... i actually dont know....
hmm.gif 5 years ago, probably not i guess.


QUOTE(xemoboyx @ Aug 3 2017, 03:38 PM)
Meh.. i wouldn't mind renting my mum's old 2003 corolla for Rm200 a day..  whistling.gif
*
well if its the market/grocer's car tongue.gif and you dont really care too much... i guess yeah...
6UE5T
post Aug 3 2017, 04:23 PM

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QUOTE(tongkualongan @ Aug 3 2017, 02:31 PM)
Dear All,

I currently run a tour business to get International guests to travel to Malaysia,

Among our potential guests, some will inquire about renting a car instead.
So I am toying the idea now of using sharing economy concept to rent out private owned cars to tourists , ( like Uber but to rent out cars )

Of course , the challenge i foresee are the insurance (car theft ) , wear and tear etc

To resolve this, I am thinking :

1) Day insurance that covers accidents/theft that car owners can buy
2) Device that Tracks the car location, acceleration/deceleration to ascertain wear and tear and potential theft
3) build a community of respect (like airbnb) between car owners and car renters  , to instill trust and respect

Will you rent out your cars if the above are executed properly?

let's say you can get 100 - 300 myr a day depending on car model.
Appreciate your input.

Longan.
*
No I won't coz I don't have spare cars to rent out! If I have, then I might but probably also some junk/cheap car so if anything happened to it, it doesn't really matter.
lsm1991
post Aug 3 2017, 06:38 PM

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btw... any liability issues if the car is caught speeding or worse, used in a hit and run??
Ginny88
post Aug 3 2017, 07:35 PM

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If you rent from a regular car rental company you have to pay a deposit like RM500 which will be refunded to you 1 week after you return the car if there is no saman. This may be a problem for tourists who aren't going to hang around for a week.

I suppose for minor scrapes, dents and dings they can be charged to the driver when he returns the car. There will be a pre and post inspection.

One reason why this idea may not take off is that few Malaysians have a spare car for rent. If at all they own a spare car it is probably a very old bone shaker which is not worth selling.

Icehart
post Aug 3 2017, 07:45 PM

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What's the differentiation when a tourist rent from you and from a car rental company? Cheaper? Better?
TStongkualongan
post Aug 3 2017, 10:53 PM

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QUOTE(xemoboyx @ Aug 3 2017, 01:38 AM)
Meh.. i wouldn't mind renting my mum's old 2003 corolla for Rm200 a day..  whistling.gif
*
biggrin.gif bangwall.gif haha
TStongkualongan
post Aug 3 2017, 10:54 PM

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QUOTE(6UE5T @ Aug 3 2017, 02:23 AM)
No I won't coz I don't have spare cars to rent out! If I have, then I might but probably also some junk/cheap car so if anything happened to it, it doesn't really matter.
*
ok gotcha.
TStongkualongan
post Aug 3 2017, 10:56 PM

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QUOTE(Ginny88 @ Aug 3 2017, 05:35 AM)
If you rent from a regular car rental company you have to pay a deposit like RM500 which will be refunded to you 1 week after you return the car if there is no saman. This may be a problem for tourists who aren't going to hang around for a week.

I suppose for minor scrapes, dents and dings they can be charged to the driver when he returns the car. There will be a pre and post inspection.

One reason why this idea may not take off is that few Malaysians have a spare car for rent. If at all they own a spare car it is probably a very old bone shaker which is not worth selling.
*
I guess can create an app that holds/charges the tourist credit card and release a week / mth later etc.

I always thought family have two cars average , one husband , one wives, cause both goes to work diff location, and on weekends, there will be spare cars. anyway , interesting to know smile.gif

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