VIDEO ON MSN MONEY

60Comments
Feb 12, 2011 9:21AM
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REALLY?!

 

What an asinine article.  You people should know better than to post garbage like this.  Did you have a deadline to meet or something?

 

NO WAY is a personal auto policy going to provide coverage when one RENTS out their vehicle.  Loaning the vehicle?  Sure (on a lot of auto policies, but not all).  Seriously!

 

If you want to give people ideas on how to make a little extra money in a struggling economy, don't suggest something that can possbily leave them in financial hot water.  Advise that they sell their blood or have neighborhood garage sales or something... NEVER suggest that they rent out their personal auto!

 

 

Feb 12, 2011 4:50PM
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Hmmm?!?  Rent someone my $35,000 car for $8/hr... I don't think so.
Feb 13, 2011 1:06AM
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This is an ill informed and unresearched article.  DON'T do it!  Your insurance company will deny the coverage and drop you if an accident should occur.  Sure, the $1 million policy provided by the car sharing company may sound enough but it is not when there's a fatality or someone ends up being paralized.  Your coverage then comes in but since it will be denied, guess who will be receiving a letter from the personal injury lawyer? Last, so you loan out your car to earn how much?  $600-$1000 a year. 

 

I usually reserve personal attacks but cannot do so since this is a effing article.  Can't believe Kiplinger even puts this out there.  STUPIDITY will land your personal **** in jeoapardy!

May 4, 2011 8:53AM
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Dumb, dumb, dumb idea.  The simple fact that the total miles on any particular vehicle are finite makes this a dumb idea, why put unnecessary miles on your personal vehicle?  You're just going to be in the market for another vehicle that much sooner.  Then you have the insurance issue.  News flash, even if these companies did offer supplemental insurance, you're personal insurance carrier would drop you in a second if they found out what you were doing.  Figures, a moronic concept like this would have taken root in the Bay Area, land of the pseudo intellectuals.
May 4, 2011 4:20AM
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i spent over $50,000 on my Lincoln Nav.  i wish someone would offer to rent it for $3 to $5 per hour. i would probably slap their face...  Ask yourself  what happens if this person kills someone ..with your car?  gets parking tickets...(you won't see the tickets until you go to register the car).. red light cameras.. $1 million is not a lot of money for a life... you could lose everything for $3 to $5 bucks an hour?? this is why you have hertz, avis , enterprise .. rent a wreck ..etc....go there you cheap bastards...
May 4, 2011 8:07AM
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I have made several comments about how asinine and irresponsible this article is.  Advising people to rent their cars out?  You must be out of your mind.

 

Here's an interesting idea to line your pockets.  Someone, rent out your vehicle and when something happens and the insurance policy doesn't cover the damages, then file suit against the author, or whoever is responsible for running this idiotic article.

 

Perhaps this will stop this article from being run all the time...  IDIOTS.

May 4, 2011 8:51AM
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 I find it VERY hard to believe that a car owner  would be willing to take on such  huge risk like this for $8.00/hr.   I agree with some viewer's comments " advising people to do this is completely irresponsible"  
Feb 9, 2011 12:33PM
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I work for an insurance company and I can tell you this is a horrible idea, first of all your vehicle is being used for business purposes therefore any claims arising out of this would be denied, also if your insurance company found out you were letting other people drive your car for a fee they will drop you like a hotcake because you're supposed to disclose all drivers on your policy.  Lesson is don't listen to this article unless you want to be walking everywhere because no insurance company will cover you once your coverage has been dropped. 
May 4, 2011 5:06AM
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sure....ima rent your car, squeal the tires, ebrake a 360, probly go off roading rather its a suv or not. and im definately gonna smoke cigs and dubbies in it. all for around 10 an hour hahaha.
Apr 10, 2011 9:08AM
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Natasha...with all due respect, bull...if 1 car is driven 100 miles or 10 cars are driven 10 miles each the result or impact (pollutions emitted) is basically the same (depending on each car of course), how does this possibly "save the environment" (in fact, people who normally take city transportation will now be driving cars so even more gas will be burned thus resulting in just the opposite of what you just stated).  That is like saying you shower at your neighbor's house to attempt to save electric by using less hot water...your bill may be lower but theirs is higher and the same amount of electric is used....maybe you should rethink that knowledge statement.....amazing how someone just tosses out the environmental crap like it should make us all lay down and roll over...   Plus, I if someone does manage to rent as often as they claim you will,  the added mileage certainly won't help the trade in value, no doubt far exceeding the couple of bucks you'll make....and I am willing to bet that nobody will gross anywhere near the $2000 per year mark anyway, let alone net it...I don't care what they claim.... especially once everybody who thinks they are going to get rich signs up flooding them with available cars....so of course whoever is willing to rent their vehicle the cheapest...well you get the idea...  By the way, am I the only person who has actually rented a car before and really "tested it out"?  Oh wait, I forgot, only really really nice people who are going to the store to get a gallon of milk for grandma so she can bake her sugar cookies will be allowed to rent it....and everyone will treat it like was their own....come on, common sense rules knowledge. 
May 4, 2011 9:25AM
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What a stupid idea!

Another wasted MSN story about nothing.

The writer should rent out his keyboard or better yet sell it to the lowest bidder.

Feb 9, 2011 1:35PM
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Thank you Blerina81...as I thought...a VERY stupid idea indeed! Who comes up with this junk…and why would they post a suggestion that could rapidly lead to massive legal issues?

May 4, 2011 8:50AM
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My iinsurance would be void it I did that. AAA disalows use for business involvement unless it is specifically written for commercial). Like with medical, involving in accidents, and dual coverage, would the owner's insurance have to be involved first or as well as the secondary insurance?  Also, the vehicle, the insurance goes on the VIN, if the vehicle is involved in an accident, what about rates afterwords.  At the cost of labor and wear, 3 or 4 an hour is not very profitable, considering the replacement cost of the car.  I would never do it.  My car is used by family for taking the bass to concerts, and such, covered because any licensed driver can drive my car, but,,it would still cost us if something were to happen.  I am not real big on carpooling either because of liability.It's all fine until an accident and someone gets killed and you loose everything because of it for the rest of your life. I also do not think that the depreciation of the vehicle is worth it.  My car will probably be the last one I buy.  Heck I rent from a AAA approved company for trips.  I don't even use my car of more than day trips.  If I don't want to pay for travel breakdowns for myself, I certainly wouldn't want to pay for them while someone else used my vehicle.
May 4, 2011 8:37AM
May 4, 2011 11:38AM
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Rent me your car...I'll have it in a Tijuana chopshop by noon!!!!

 

I recommend you rent out your spouse...far more lucrative and less hassle.

May 4, 2011 8:42AM
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Who is stupid enough to rent oout there car to strangers? No way would I rent out my mercedes will they replace the clutch when numbnuts burns it out? NO how abouut the E brake? NO Hey i have a dent here will they fix it? NO You would have to pry off my dead hands before you step into a majority of people have no idea how to drive and ae dirty and disgusting. They should burn in hell  Angry
Feb 9, 2011 12:26PM
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Seems like a fad to me, driven by a bad economy. Most of us don't want strangers driving our cars, as most will get dinged or harmed worse, and potential personal liability is a deal killer.

 

If this works at all, probably most of the "rentals" are banged up junkers no one would want to drive. Seems a low end deal to me and I don't see it working over time.

May 4, 2011 9:12AM
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This just smells of an advertisement for the bay area rental.  Think about it.  When i rent from traditional companies, I can purchase all that extra insurance or I can use my AAA.  So, for some of that, if there were an incident, I could be liable for several thousand of the incident if I did not opt for the ins.  Okay, a big company mght be able to absorb the person who decides to opt out of the additional insurance., but me renting out my car, and someone totalled it, I would then be without a vehicle, and set up for all sorts of legal nightmares trying to get money back from the people, and prevent getting wiped out financially for someone else's driving my vehicle. How many of you have gone to a store and put a big item in your vehicle, only go get home and see a black spot or crease on the interior?  What about the piece that doesn't fit in so they rig it and go down the freeway, and it doesn't hold and kills the people behind.  I say never.  Not a cost-efficient vs. risk way to use my car.

 

Besides, Ikea, Sears,Big Lots, JCPenney, and any other company has deliveries.  Pay the 30 to 65 bucks to have them deliver it. or wait until they have a free delivery sale or rent from Hertz Rder, Uhaul and truck it yourself. 

May 4, 2011 4:39AM
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well rentals are ok but your insurance wont cover it. I would have to say that renting your neighbors car is a little strange. Besides you worked hard to keep your car ,truck, SUV you got to ask yourself is it such a good idea to have someone else using your car without a contract? Your liable for anything that happens tickets accidents all that. Do you really want to have someone else that you think you know really well using the car because he or she lives across the street?? I think not, think really hard how much you really like your car before you just let someone besides another family member use your car. I let someone i thought i knew use mine and never received a penny for renting the car to them and they got a ticket in MY CAR along with a DUI that went over really well NOT. So think before you give up those keys and your ride seriously. Is it actually worth loosing your insurance because of someone else? NO NO NO NO!!!!!!! Also if you do rent it out be prepared to pay for repairs  too. I agree with slow eddie my Ford Fusion will NOT be rented to ANYONE. I even had to play repo man on my own car NO THANKS.
Feb 9, 2011 5:06PM
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@STGlen333: Did you copy that directly from their website.  FYI even if there is supplemental insurance on the vehicle if someone driving your car hits lets say 10parked cars and the liability limits on the supplemental insurance have been exceeded guess who is secondary to cover the rest of the damages the owner's insurance.  
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