Is there a law against renting out my car?

renegadefm

What kinda license do you need to let out a car? You hear about it happens for weddings,  commercially etc,  but I had a neighbour ask me the other day if they could hire my car for a fortnight to drive around while theirs is brokedown.  Is this possible? How much should I charge? 

Scrapit

You don't need a licence.

renegadefm

Scrapit said:

You don't need a licence.

Thanks I am surprised because how come car rental places make so much money? 

elsien

You would need to consider the insurance implications so you don't invalidate your present cover.

neilmcl

Yes, insurance could be an issue and also the taxman might want to take a look at the new income you've got coming in.

mluton

https://turo.com/ List your car and make some money

forgotmyname

You want to risk me hiring your car and taking it on a trackday?

prowla

Your insurance almost certainly doesn't cover use by someone else.

If they have insurance, it will likely only cover 3rd party.

Herzlos

renegadefm said:

Scrapit said:

You don't need a licence.

Thanks I am surprised because how come car rental places make so much money? 

Supply and demand - they provide a fleet of almost new cars with convenient collection/returns and included insurance. They can do it cheaper than Joe Public because they get fleet orders of new cars at substantial discounts. Apparently the Enterprise group own 2 million vehicles worldwide, so imagine what kind of deals they'd get from manufacturers.

Anyone can rent a car to anyone, but they'd need approval from the owners (I'd be surprised if lease/credit companies allowed it), and someone would need to take on appropriate insurance (for the road liability) and risk (what if they run it as a tax for a week and put 30,000 miles on it, or wear out the clutch?).

You can loan a car to a neighbour for as long as you want, you just need to make sure they have insurance (in their own name via a short term insurance policy, add the car to their own policy or add them as a named driver to yours) and then come up with some agreement on uninsured losses.

Alanp

I would imagine that somewhere in your policy documents it says you cannot rent it out as it will invalidate your insurance, check your policy though, and if in doubt call your insurance company 

Car_54

Alanp said:

I would imagine that somewhere in your policy documents it says you cannot rent it out as it will invalidate your insurance, check your policy though, and if in doubt call your insurance company 

The OP is going to have to speak to his insurer in any case, to add "Any driver" to the policy. To which the answer will almost certainly be "No".

He needs specialist insurance, which won't be cheap.