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Make money with your Model S/X !!!

Discussion in 'Model S' started by Falconwings, Oct 18, 2016.

  1. Falconwings

    Falconwings New Member

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    Jan 26, 2016
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    Mississauga
    Hello there, I am a fellow Tesla enthusiast, Model 3 reservation holder and over all EV evangelist. I came here hoping someone in the greater Toronto area would be willing to rent me their Model S with Ludicrous mode for a day or maybe 2. I am literally willing to pay someone hundreds of dollars to get behind the wheel of a Tesla for some quality time with the best car ever made! I have intrigued many people by sharing with them my knowledge of how brilliant this car is and how Tesla is the car company of the future, today. (I test drove a P85D Insane mode at Yorkdale store in 2014) This could also potentially lead to people using your referral code in Teslas latest edition of the referral program;)
    I am a 32 year old refrigeration engineer and long time auto enthusiast with a clean driving record and would treat anyone's car with even more care and respect than I would my own. So if you own or Lease a Model S/X with ludicrous mode and are looking to make some extra car payment cash! while helping spread EV awareness! (and possibly rack up some referrals). Please email me: [email protected]
     
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  2. calisnow

    calisnow Active Member

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    No outfit in Toronto has one to rent?
     
  3. Gig103

    Gig103 Member

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    Phoenix Metro Area
    Anyone considering this, check with your insurance company. I don't know Canadian law but in the USA renting a car out for money requires a commercial insurance policy. Even with Uber, drivers are under an Uber umbrella policy and not their personal auto one.

    No offense to @OP but I wouldn't hand the keys to my Fiat Abarth to a stranger, let alone a US$130k P90DL.
     
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  4. bucksport

    bucksport Member

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    BINGO!!!!!!!!!!!!!!!!!!!!!!!!!!!
     
  5. HankLloydRight

    HankLloydRight Fluxing

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    Tesla can do "extended test drives" where you get the car overnight. Ask them.
     
  6. calisnow

    calisnow Active Member

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    Unless you know case law that I don't, or can cite a statute - you are wrong. If your personal auto insurance policy does not state explicitly that you cannot rent out your vehicle (even if it has anti-livery restrictions) then there is no law I know that prevents you from renting your vehicle out and also being covered if the client destroys the vehicle. I have had multiple attorneys look at this issue (they could be wrong of course) and I also have direct experience with someone renting out a $200K Italian exotic car on a personal insurance policy. The car was totally destroyed in an accident by the client - and the owner's personal policy had to pay out because there was no exclusion in the policy against renting vehicles. And the carrier continued to cover the owner after the event - they did not drop them.

    My direct experience with this issue is that I founded and owned a luxury and exotic car rental company in California operating in both L.A. and San Francisco. The biggest hurdle was getting commercial insurance - which I did but it was a huge pain and there are many operators running without commercial insurance. They may have business liability insurance but some cannot get commercial auto insurance. If there have been some cases of these guys getting claims denied I have not yet heard them.

    Insurance law is murky.
     
  7. calisnow

    calisnow Active Member

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    Adding: It is possible laws have changed since I was in the business - and it has been almost five years since I got out of it. Also I am not an attorney and nothing I have said is legal advice. :)
     
  8. Nick B

    Nick B Member

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    Sep 15, 2016
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    Location:
    Montreal
    Why don't you just use turo? There a probably a few tesla's that you could rent on there (although I haven't checked personally). I was pondering the idea of renting out my tesla in Québec buy it's my only car so decided not to do so.
     
  9. Gig103

    Gig103 Member

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    My wife is a State Farm underwriter and I just returned from a CPCU (Chartered Property Casualty Underwriters) conference with her. Their policies, in addition to my past policies with Geico and USAA, exclude commercial use. To me it sounds like your $200k story was the outlier.

    From an underwriting standpoint, the risk (which dictates the terms and cost of the policy) are higher on any rental than on personal property. For homes, there are specific rental property policies, and folks should check on their auto policy too.

    I probably should have added a disclaimer to read their contracts but my advice stands and I am confident that I covered the typical case.
     
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  10. Gig103

    Gig103 Member

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    #10 Gig103, Oct 19, 2016
    Last edited: Oct 19, 2016
    Mid shave, I realized that I had referred to "Canadian law" which was a poor choice of words because it then implies that I was referring to US Law and really I was referring to policy language. Mea culpa. I don't know any policies that allow for livery on a private vehicle but you are right I can't claim this restriction is under federal or state law.
     
  11. Fusion

    Fusion Member

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    San Francisco
    Anyone asking to rent one with Ludicrous mode is definitely not going to treat the car with care..... drive it like you stole it maybe.
     
  12. doubleohwhat

    doubleohwhat Member

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