Interesting idea. You could see this appealing to people doing retro costume parties. Like the guy who comes dressed up as Burt Reynolds driving a 70's sports car.
I was trying to rent a Dually diesel with a gooseneck none available here in Vegas. Only company that had them was Barco they rented months in advance. Lots of rental gooseneck trucks in Texas. Hertz rents the cargo type vans on Sahara.
I was wondering why no one was doing classic rentals. I would rather give a old 67 mustang than a lambo. Everything you said is precisely why I would have done it here in ATL if I had the money.
I think there will definitely be a great demand for them in Vegas- especially given the number of weddings. They’re honestly gorgeous in photos. edited to add: made me laugh with the comment about being the only one out there renting a classic
I've tried restoring one classic car and it was enough for me to never want to do it again. I think the wrap may work but it's not going to stick in areas where clearcoat isn't in good shape.
I literally did this with a replica Porsche 356 and made $20k in the first 3 months on a car that cost me $30K. Just purchased a Factory Five Cobra with the 5.0 302ci v8. It seemed so obvious to buy a $30-$40K car and charge the same for an iconic experience as people do with $100-$200k cars. Brilliant. the Porsche 356 was great in this sense because it utilized all VW components that are cheap, reliable, and every shop can work on them.
I agree you have to make sure your business is distinctive and set apart from the rest. Make it obvious why the customer should use you instead of the other guy.
Bro! I started working on this exact idea late last year. I was going to make it part of my retirement plan… Even down to locating it in Las Vegas. SMH. I think it’s brilliant. Good luck to you. And who knows, maybe you’ll see my classic car rental place in Las Vegas five years from now…
Definitely looking forward to this! Those who question it, don’t understand it. I do. I’m following the money lol $40k for a Sonata N will net at the most $100 a day That ain’t shit.
Potential niche exists in 'sort of' classics .... 25 year oldish Corvette Firebird Mustang and the like. Could charge less daily and refurbish for less ... and have a cheaper option, and people of a certain age will want to revisit the one they had decades ago (or only dreamed of).
Renting a classic car is a great idea. You think you want something, but have never actually driven it, and have no where to store it. Might as well rent one, and have some fun!
Lucky, if the car market was where it used to be prior Brovid-20 (so let's say, pre 2019) would you still be renting classics? Or would you be doing supercars, luxury cars, or everyday cars? A car rental company in downtown vegas is a home run in-and-of itself........compounding that with youtube adsense, car repair tickets in the shop, the tax write offs.............you're gonna be the guy everyone points to 5 years from now saying "lets just copy him and hope we get some marketshare" im gonna be like you one day over here in Phx AZ. one day
Backdraft Shelby Cobra, with a coyote or 427 if you can.. I will be the first to rent for a weekend! Need to visit my business partner anyway. He's in Vegas. Lets go!
Coyote for reliability, though... Ps. Classic car only rental biz is actually an amazing idea... i would rent a cobra, and old Mustang supped up over a lambo all day... bout to move to Nashville.. may have to do that. Great idea bro.
Hi Lucky - I just did a 6.0 LS in my 72 chevelle. What type of insurance would allow me to rent it out on Turo in CA?? Also are there any other platforms to rent my car out on the gain exposure?
hey lucky serious question. hope you see this. Did you open a whole new llc for your car rental company or did you run it through your dealership/ wholesale LLC. deciding if i should just run it through my dealership or just open a whole new llc.
I can certainly see a market for classic car rentals in Vegas, although I suspect that you will have trouble keeping the utilization above 70%. (Not sure if that is an issue for you or not). I think you are being overly optimistic about the appreciation given that it is a retro-rod. I think the original cars will see far greater appreciation despite their foibles, but there are people building retro rods today, although I wouldn't purchase one. One point to keep in mind, especially with the Factory Five cars, is that the last figure that I saw said that 16% of Americans today can drive a manual transmission. If you are building your own kits, you can choose the transmission. Yes, the purist will want a manual, but having options is good for you and the customer. My biggest concern is when you take a 1969 Camaro and rent it out are you going to have liability because it doesn't have modern safety features. America loves its lawyers.
Sounds like a great idea but have you done research if people will rent it? I know if I saw a lambo with a LS engine I would not rent it because it wouldn’t feel like a Lambo should. Can be a good or bad idea not sure what the research say though
I mean yeah, but the skills required is totally different. You need zero skills to rent modern cars, because you can have them serviced for you, easy to insure, etc. You can also sell a modern rental super easily, because you have kept the car to higher standards with threat of fees lol.
I love this biz model!! Im sure it will be fun building those classics 😍 I envy u! What would your plan be when governments start pushing for zero emissions and EV cars?
Agreed. Going to be honest here, this business plan is overly optimistic without knowing your customer. If it older individuals renting, your classic car may be return in good condition, but if Johnny Crotch rot rents it...yeah, he is going to mess it up or total it.
To be fair you’re starting to run low on mechanics that will touch these old cars as they are so you end up learning yourself. Many have died off or retire. Many don’t exactly want to fiddle around with the settings on a carburetor or work on something that won’t have a an OBD2 port.
I'm really sorry to hear you will be putting LS engines in Fords and Mopars, just because the engines are cheaper and conversion kits are available. - there is so much of that going around now and it kinda ruins the overall experience of being in a classic car or the ride. I get it, but a with a great mechanic, (such as myself) whom lived during those years and repaired them, you can make a carbureted vehicle VERY reliable. But its your business and your inventory, so its your choice. I do think car shows at your place and renting classic cars are a great idea. It's the first time thou that I have disagreed with your opinions in watching from the beginning. Yes, I'm a purist in many ways but I get and understand disc brake conversions and radial tires being added on. Myself I am wore out on Chevy powered everything at car events. Just boring for me to look at row after row. I'm sure some of your fleet will end up at the various car events in Las Vegas / Hendertucky / Boulder City areas on display for me to look at and just walk by. Overall I wish you success and you need not to worry as I'm sure I'm very wrong, ( my lady tells me that ALL the time) so LS in everything may just fly with hundreds if not thousands of others that rent from you and it definitely will from Bowtie collectors.
@@LuckyLopez777 very true, but you didn't say you were not going to do it, and kits to do so exist for those models. Fords and Mopar's long blocks (new not salvage) are much more expensive which is why an LS ends up in them from time to time, plus not to mention the size (width) difference especially compared to a coyote block. Plus, you're not getting a coyote into a 69 / 70 mustang without shock tower removal and power steering conversions at the minimal of effort. Even more so if you try to put it in with shock towers in place. And for that matter it won't fit in a 65 thru 68 at all. If you intend to just buy new / salvage Windsor blocks for a fox body for those you could get by. But those are getting harder to come by with harness and all. 71 thru 73 can fit whatever you want in it. But like I said, since I'm only 67 I've been wrong a lot. ty 4 your reply
So let me see if I understand this... you're taking a classic car shell and putting modern components into it so that it is more reliable. So the car is not one hundred percent.original. I take it whoever is renting the car only cares about appearance... Right?
