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Funny you should ask, because I have been thinking about buying maybe a dozen trailers and renting them out to travelers. The insurance issue would need to be worked out though.
My thought was, I would do a "Buy Back" program. Someone would come to me and BUY the trailer of their choice. They would transfer it into their name and take full responsibility for it. When their tour was done, I would buy the trailer back for the same amount, less a percentage for the time it was used. In that way, they are legally liable for accidents, damage, etc., but they are not stuck with the trailer. The rental "fee" would be a total of the title transfer costs, along with some $5.00 per day usage fee or something simple. What do you think about that?
Sounds like a PITA for both you and the person "renting" to me for a couple reasons.Funny you should ask, because I have been thinking about buying maybe a dozen trailers and renting them out to travelers. The insurance issue would need to be worked out though.
My thought was, I would do a "Buy Back" program. Someone would come to me and BUY the trailer of their choice. They would transfer it into their name and take full responsibility for it. When their tour was done, I would buy the trailer back for the same amount, less a percentage for the time it was used. In that way, they are legally liable for accidents, damage, etc., but they are not stuck with the trailer. The rental "fee" would be a total of the title transfer costs, along with some $5.00 per day usage fee or something simple. What do you think about that?
See how you are. :? You assume I NEED to "break even." I was thinking of doing this just to make trailers available to those in my area who need them for only one short tour.Several problems. First the price is too low. Take the purchase price and divide it by $5 to figure out how many days you'd have to rent it for to break even. You still have tires to replace.
I wrote:Also, there is usually a transfer fee for selling or buying the title which is a lot more than $5/day
The rental "fee" would be a total of the title transfer costs, along with some $5.00 per day usage fee or something simple.
Think outside of the box! :thumbup: (Hint: Simply signing and notarizing a Bill of Sale which the new owner carries, and the transfer of payment by a valid check which is not yet cashed is deemed to BE a lawful sale at the DMV.)Sounds like a PITA for both you and the person "renting" to me for a couple reasons.
1. The DMV is slow in processing paperwork. When the new owner got done with his/her 10 day trip, they would want to sell the trailer back to you but they'd not have the paperwork to sign over to you. Also selling and buying back the same trailer several times a year might put up a red flag at the DMV.
See #1. Think about it a while.2. Who is paying the sales tax every time the trailer is bought/sold?
An accident merely means the new owner takes the hit, since by virtue of the accident, he BOUGHT the trailer and I cashed the check.3. Who takes the hit when one of the new buyers has an accident involving the trailer? A repaired trailer is worth less in the resale market.
Grasshopper, you are not ready to leave the temple. You must first snatch the red tape out of my hand.4. In business, time = money. While you're sitting at the DMV waiting for the next available clerk, you are wasting time & money.
The list could go on.
Wouldn't part of that depend upon how the load is packed?Cruisecontrol, sorry your thread got hijacked.
The U-haul trailer some talked about is way to heavy/large for a wing. It was made for small cars to pull. I'm not even sure they would rent to you knowing it was for a motorcycle.
Your best bet would be to contact a friend that has a trailer and ask to use it or find a dealer that sells trailers to see if they would rent you one from their lot.
The smallest U-Haul trailer is nearly the same tongue weight as many of these camping trailers that are towed by the Ultra's & the Wings out there.<...> I realize there are at least two major weights tin this discussion. One is the tongue weight and the other is the GVW.
:shrug:<...> The customer MUST have a hitch and electrical hookup to even TRY a trailer, so you help them out with the hitch and wiring, and if they rent or buy, so much the better.<...>