How to rent a car in London?
The car rental industry in London has exploded in the past two years, with many landlords seeking out young people and families to take out a car for their own.
But for those who are just starting out in the rental business, the advice on how to make the most of this new opportunity could be daunting.
Read moreCar rental companies such as Car2Go and Car2Rental have been expanding rapidly in the last year, offering an array of car-related services, from car insurance and maintenance to renting out a used car to paying the rent on your own property.
But it is important to remember that these services are not all created equal.
One of the biggest differences between a car rental and a traditional car loan is the time commitment.
Car rental services often take anywhere from a few weeks to a few months to make their car available, with the main difference between these two being that rental car companies are able to offer the customer a fixed period of time for their car to be rented.
While a car loan, on the other hand, requires a more flexible timeframe.
The key difference in the car rental market is in the length of time that the car needs to be left available, rather than the actual amount of time it takes to get the car back.
For example, a car lease for a four-door car costs around £50 per week and takes around a week to be ready for the car to come back on the road, whereas a car rent for a six-door van costs around around £100 per week, which is a big difference.
For renters who want to be sure they can afford the cost of renting out their car, the biggest issue that many landlords face is the length that the rent period can be, with rental companies typically offering around 30 days of rental time, but many landlords may find that this is not always the case.
Read MoreCar rental services offer many different types of car rental options, with most companies offering an option for renters to rent out their cars for a flat rate of around £5 per day.
Some companies also offer a range of options for leasing out their vehicles at a discount, with some car rental companies offering a lower price for renting out cars for shorter periods of time.
So how do you make the best use of your car rental business?
For the uninitiated, car rental services are usually offered by car companies, such as car2go, which offer car insurance, a rental car insurance company and a leasing company, with other services being offered by private hire companies.
For a vehicle rental, car2Go offers a car-rental option with a fixed monthly rate, while the leasing company Car2lease offers a range to choose from.
Some rental car rental agencies will also offer car rental insurance and car-lease insurance, while others will only offer car-finance services.
For some renters, it may be worth finding a car hire company that offers the rental of a car at a reduced rate.
However, if you are just beginning your rental business and have a low-to-moderate income, then a car company may be the better option for you.
For renters with a higher income, a leasing agency could be a better option, especially if they offer car finance or car-purchase insurance.
If you have any questions about the car rentals and leasing industry, or if you have more specific questions, then the UK Car Rental and Leasing Association (UKCAR) is a great resource to get in touch with the people who run the business in your area.UKCAR offers a number of resources to help you get the most out of your rental car business, and you can use these to get to know your local car rental firms better.
For more advice on car rental, check out our guide on how London is the best place in the UK to rent or lease a car.