any car rental company to take over my car?

[FMC]

stated above. I got a car not intend to sell it first. Willing to let any car rental company to take my car & rent other people. Just clear my installment, insurance & roadtax & etc etc... Any lobang ?

[sICkbOi-dOt-cOm]

Have to do it the legal way... If remembered correctly, there's an issue about this on the news...

[GuiNNeSS]

is the insurance and your bank needs to approved it too, so don't think too much

[FMC]

My friends also doing this now. As long as they pay the insurance,installment & roadtax for you will do.

[welly]

dats illegal,FYI.simply bcos if others were to rent your car n if they were to default on payment, the bank will chase after the REGISTERED OWNER of the car,not the lessee or car rental coy.pls dun resort to such things..my sis tried it b4 n she learnt the hard way.

[welly]

btw TS, what car u driving?can rent out to individuals?

[sICkbOi-dOt-cOm]

  Quote

Sat, Feb 28, 2009

The New Paper

 

 

THOUGH it is illegal, some car rental companies seem to be willing to take in private cars for renting out.

 

It is understood that while the rental agreement would state that the owners would be required to take out a comprehensive insurance coverage, most would not do so as it would mean paying at least 80 per cent more than that of a car for private usage.

 

One source told The New Paper on Sunday that about half the cars offered for hire by some companies belong to other people.

 

However, many car rental companies refuse to accept private cars for rental, and say it is illegal to do so.

 

Illegal practices

 

Mr Jerome Tan, 29, manager of ATS Rent-A-Car, who has been in the car rental business for eight years, said the practice of renting out private cars without the proper additional insurance coverage has been going on for the past 10 years.

 

He estimated that at least 20 per cent of rental companies carry out such illegal practices. 'The insurance on a car for renting for reward or hire is different from that of a private car,' he said.

 

Mr Tan said that private car owners who wanted to rent out their cars needed additional third party coverage which could cost between $40 and $50 a day.

 

He explained that with the market rate for the rental of a car starting at $70, most private car owners opt not to pay for the insurance.

 

'Once they buy the additional insurance, it is not profitable to rent out their cars,' he said.

 

A spokesman for NTUC Income said that an insurance policy for a private car specifically precludes the renting out of the car.

 

The premium for a normal rental car is about 80 per cent higher than for a private car.

 

Said the spokesman: 'Income's policyholder has to make a request in advance if he wants to extend his motor policy to cover the rental on weekends.

 

'We will endorse his policy to cover the proposed rental period with an additional premium of $40 to $70 per weekend.'

 

Low interest

 

However, the spokesman added that the interest in such extensions to the insurance policies of private car owners has been low.

 

According to a spokesman for the Land Transport Authority, private cars that are rented out illegally do not have insurance coverage, and thus the car owner and hirer are both liable to be dealt with under the Motor Vehicles (Third-Party Risks and Compensation) Act.

 

Said the spokesman: 'The LTA takes a serious view of illegal rental of private vehicles and will take action against those who fail to comply with the law.'

 

Twelve car owners had been caught renting out their private cars illegally last year, up from 11 in 2007 and six in 2006.

 

'We would like to take this opportunity to remind private car owners not to rent out their cars unless it complies with the Private Car Rental Scheme,' said the spokesman.

 

'The LTA takes a serious view of illegal rental of private vehicles and will take action against those who fail to comply with the law.' - A spokesman for the Land Transport Authority

 

'The insurance on a car for renting for reward or hire is different from that of a private car... Once they buy the additional insurance, it is not profitable to rent out their cars.' - Mr Jerome Tan, manager of ATS Rent-A-Car

 

 

Just to let you know...

[sICkbOi-dOt-cOm]

The blind follow the blind....

[GuiNNeSS]

isn't it common in here? just like queuing up for free gifts without knowing wat you'll get

[jB]

  MinistryofAlex said:

isn't it common in here? just like queuing up for free gifts without knowing wat you'll get

Ah Tiong Lady : Hello Xian Shen, you have won a prize you can collect in Jaybee City Square ahh

 

If you can rent to personal friends or family, even better if you can just keep it as family and friends also can dissapoint you greatly. Try not to take that risk if possible, know of one Uncle who did and things got really bad till he passed away in his sleep..

[NoLicense2]

  sICkbOi-dOt-cOm said:

Have to do it the legal way... If remembered correctly, there's an issue about this on the news...

 

 

Ya, quite serious ......

So dont play play...do the legal way.....

 

  welly said:

dats illegal,FYI.simply bcos if others were to rent your car n if they were to default on payment, the bank will chase after the REGISTERED OWNER of the car,not the lessee or car rental coy.pls dun resort to such things..my sis tried it b4 n she learnt the hard way.

 

 

...have to be some one who can be trusted i guess....

[rezz_shaz]

be careful bro, if i remember correctly it's illegal....read somewhere in the papers

[TangoBoy]

its perfectly fine and legal to rent ur car on weekends... but not weekdays..

The problem usually occurs when theres a major accident or offences. but if it happens during legal rent out period, then its fine..