10 Tips If You Want to Rent Your Own Car
Renting a car is a brilliant idea so that the car becomes more productive. This method will make your vehicle operated more frequently, rather than staying in the garage for a long time. How do you rent your private car to increase your income? Here are some ways and tips.
1. Renting to Companies
You don't have to focus on renting your car to individuals, you can look at institutions, such as certain companies. To rent a car to a company, there are several ways to offer:
- Offer car rental to colleagues who work in certain companies.
- Through company marketing with a note that you provide an attractive offer, you can explain the condition of the car and competitive rental prices.
2. Suitable Prospects
Renting a private car is indeed a challenge if your area is less prospective. But if you're in a densely populated neighborhood that doesn't yet have a four-wheel drive, that would be a suitable prospect.
Recognize whether the neighborhood where you live requires residents to rent a vehicle. Examples for celebration events, tours, and so on. It will not be suitable if you rent a car in an area where the majority of the population already has a car.
3. Appropriate Target Market
After finding prospects, determine the right target market. Is your car rented out to the general public, office employees, or so on. The target market must be clear because it relates to the marketing efforts that will be carried out. You can target this to all parties or circles. But you also have to pay attention to the level of competition in your place, if it's still not tight then the target can be obtained.
If your rental business has just started, you must be aggressive in promotion. The goal is for people to know that the car you have is indeed rented out. If you are still in the neighborhood, use promotional by word of mouth technique.
If you want to reach a wider market, try using social media. For example, by joining car rental groups. Look for groups whose reach is still limited to the local area. For example, if you live in Wonosobo, look for a Facebook group for renting a car in that area. Target local first, so that the transaction process is easier.
5. Beware of Fraud
If you are not careful, your car can be stolen. Therefore, if you want to rent a private car, you should also anticipate the threat of fraud. Ensure strict administration, such as a tenant's KTP which must be guaranteed. Make sure you can distinguish between genuine and fake KTPs to anticipate fraud from tenants.
6. Maintain Vehicles Routinely
The main purpose of renting a private car is to increase income. However, the budget for maintenance should not be ignored. So that the quality of the car is maintained and optimal, don't forget to service it regularly.
Use the income from car rental to help with service costs. Starting from changing the oil, checking the brakes, to car engine parts. The vehicle must always be in prime condition so that the user's safety is always safe
7. Apply the Right System
Renting a private car must also have a clear system. It must be clear when the car is collected and returned (along with fines if it is late to return). Especially with the rental system with the key off.
Calculate carefully so as not to harm you or your tenants. The price must also be reasonable, including for the fuel. Check the remaining fuel before the car is taken by the customer. If the return time is less than the initial balance, it means the tenant must replace it. Make sure everything is conveyed at the beginning before the rental agreement is created.
8. Make Sure You Have a Suitable Vehicle for Rent
There are many types of cars, but not all are suitable for rent. Usually most car renters choose the type of family car. Indeed there are those who rent sports cars for certain purposes, but it is still rare.
Especially if the location of your place of business is in the countryside, a car with a capacity of 8 people is most in demand. When talking about cars that are suitable for rent, Wuling Almaz RS can be the right recommendation.
This car has a comfortable cabin, suitable for private use or for rent. In addition, this car is also equipped with complete features, including:
- Large dimensions with a medium type SUV with a capacity of 5-7 passengers.
- Engine capacity of 1,451 cc with turbocharger, 140 horsepower/hp, rotation speed of 5,200 rpm/250 Nm.
- Independent front rear suspension with electric steering so that the driver is more comfortable operating it.
9. Join the Car Rental Application
Technological developments make everything easier, including for those of you who want to rent a car. Currently there are many applications for renting cars by simply joining and becoming a member. With this application, you don't have to bother looking for tenants. The app manager will help you find tenants. The system and workings of car rental are usually regulated. Several applications offer services for renting cars, such as Traveloka, Rentalcars.com, Klook, ShareCar and many more.
10. Manage Finances
The total profit from this vehicle rental service should be managed wisely. Especially if your rental business is already well-known. Manage finances properly so that income from rentals is allocated appropriately.
For example, there is a division of income for service fees, paying annual taxes, and personal profits. If possible, you can set aside from this additional income to add vehicle accessories to make it more attractive.
Renting a private car is indeed an interesting way to make these assets more productive. If your time allows more, you can also join as an online taxi partner. However, if time is constrained, simply rent it with a key-off system.