Rent Used Luxury Cars
I absolutely love my 1994 Lexus LS400. Even though it has more than 200K miles on it, it still runs like a dream and has held up very well inside and out. (Oh! And it’s paid for.)
I’ve been ruminating on this idea for a few months. Why not rent used luxury cars for as much as a the big companies rent their “premium” cars? If it’s your only car, rent a cheapo car while your car is rented out and pocket the difference. Of course, you’d only do that while you were starting out. At some point, you could expand your fleet by buying more used luxury cars.
You could get at least $50 a day and because you could offer a much better service (meet them at the airport and hand them the keys at the gate) you would have regular business people falling over themselves for your business.
The only hurdles are legal issues (insurance… etc) which I’m sure could be ironed out by donating $1000 to a good lawyer’s bank account. At the very least, talking to your State Farm agent.
Once you get the hang of it, you could contract with other used luxury car owners from across the USA and build your franchises from the ground up without needing investment capital.
It would be better to specialize in a particular make of car. Obviously, one that you already own is a good start. But you’d probably want to use cars that are well known for holding up over time and have less maintenance issues… etc. In other words, don’t think you’re going to make ANY money renting used Jaguars.
Also, you’d have less wear and tear on your vehicles because you’d be focusing on professional people as customers and they will know you are a small operation and know you personally and would, therefore, be more apt to treat the vehicle like their own and not do donuts in the Kmart parking lot when it’s snowing. (I promise I’ve never done that with your cars, Mr. Hertz.)
This would be a great little homebased, part-time, money making operation that could grow into something amazing over time.
Now go get bizzy!
Bizzy Man Dan