Owning a classic, luxury car is a fantastic investment. You get to own a piece of vintage history and you get to watch the value of the motor increase over the years. The trouble with owning classic cars is that it may not even start if you want to use it! What if you could make money out of renting out classic, luxury cars?
You could have a business where your customers could rent classic cars for the day or the weekend, or even join up with rallies and meets where they can. You could rent out your car for weddings, as there are many couples out there who love to roll up on their big day in a vintage vehicle. You may have seen there are plenty of companies that work in luxury car hire companies in London and that doesn’t mean you couldn’t have a go yourself. There are cars out there that can multiply in worth over a few years and buying vintage cars at a smaller cost and doing them up so they are worth more.
There is a lot of interest in land rover rental in London and the companies out there that do this every day are generally booming! There are TV and film production companies regularly look for classic cars that fit the period their TV show is set in. Sure, rent a lamborghini in London may not be correct here but Rolls Royce’s and Bentley’s are definitely in the mix and if you own a few vintage of these, you could be in the money in future. The world of classic cars has seen a lot of interest in the modern classics but that doesn’t mean they would be as popular as you think.
There is a market for the obscure and interesting cars out there but many people like to look at them rather than hire them out for their own fun. Unusual and modern cars are a risk and tend to hire out less so if you choose to add these to your own fleet, it’s got to be because you’re interested in them yourself rather than because others are.
Before you decided to buy up and hire out classic or vintage cars, be very clear and honest as to why you’re doing it. Do you have a passion for it or just want something to do? If you have a strong emotional attachment to a car you are hiring out you need to be very clear on why you’re hiring it in the first place. Is it to go toward the cost of another dream car or is it to supplement your income? Either way, as long as you are happy to hire out your car then that’s what is going to count here. Your car is your business after all, and if you can generate an income from it then you should go for it.