I am getting a liking for oldish classic cars, such as Jaguars and Bentleys, and of course I’ll never be able to afford one just for my personal use; it would be a waste as well. But I came up with a plan to have such a car and profit from it. I was going to say it was a cunning one, but it’s not, really: the plan is to rent it out for ceremonies such as marriages and what have you.
This would mean getting such a car, sorting it out mechanically, keeping it in trim, insure and tax it, advertising myself in the appropriate places, dealing with customers, including the sucky ones that don’t pay or make a mess in the car (with expensive cleaning out to follow), and so on.
Well, would it be worthy? I reckon it is profitable, because there clearly are blokes doing it. But how much time do they spend on it, and what sums did they invest on it? I came up with this idea because I’d like to earn the odd quid here and there, but would it be something bigger than what can be handled as a secondary job?
On this I look to the experience and the opinions of my fellow Dopers. If you do or did this job, or know someone who does, or used this service, post it here.
Yes, it would be worthwhile if you think there’s a market for your favorite car in weddings.
Another thing you might consider is renting it out to movie productions. Period pieces always need cars. Someone around here has done it, and as I recall said it was fun and lucrative.
I’d pursue making it available to production companies before renting it out for weddings or whatever.
If you’re driving people around for pay, you will probably be required to have a taxi or chauffeur’s license, and there will probably be license and inspection requirements on the car itself. As you’ve already noticed, you’ll need insurance, and it will be at higher commercial or business rates.
My father has a couple of cars he rents out for weddings, one is a 1936 Packard Dual Cowl Phaeton ($250 for 2 hours) and a 1956 Chevrolet Bel Air convertible ($200 for 2 hours, drivers include with both). Besides regular licensing for both, he also has to buy “car for hire” licenses and the drivers have to have a hack license. The licensing requirements for your state may vary. The car for hire licenses are about $75 a year for each. Up till about 10 years ago, I would drive for my dad when he was unavailable or both cars were hired. Back then the Packard would be hired about a 2 dozen times a year, the Chevy maybe 10 times. My father would split the fee with me plus I got to keep the tip. Because he did not do this as a full time business, his classic car insurance was all he needed without any increase in premiums.
I saw an ad in one of the auto magazines that had a 1930’s era Bentley for sale for around $30k and I had the same idea. Buy the car, rent it for occaisons and cha-ching, right?
Except where does one get day to day working parts for an 70 year old car? What would an air or oil filter cost? What about tires or brakes? Sure, maybe I can get a few hundred for the day, but won’t the car eat most of that back up?
Clubs can hook you up with parts. They’ll either scavenge them from old cars that have moved past the restoration point (though I’m amazed at what they WILL restore) or someone makes them.
You’re not really using these vehicles enough to put a lot of wear and tear on them. My husband has a '67 Mustang and there is a place that makes vintage car tires, which my husband bought. They’re brand new; the guy bought the patterns or molds or whatever they call them and makes the tires to order (and they’re not all that expensive, either!). Maintaining a vintage car isn’t cheap or easy, but it can be done. You’d be wise to hook up with a club who can help you do the work, as well. Unless you’re “the type.”