Agreed. It's free contract and free association between consenting adults of sound mind...both principles upon which the nation was founded. .I don't know why people keep harping on the renting the jeep out thing. Turo is a real thing and has been for quite awhile. There are a lot of people who rent out their cars, and get rental cars, through that service. A buddy of mine has 3 Mercedes on it, and on some similar system he rents out a camper (that can be towed with one of his Mercedes). He also rents out his house on airbnb. He's tried to get me in on this, he seems to make a decent amount of money with this game, but it's just not for me. I like my things to be mine. But there are a lot of people who don't have the same emotional attachment to things, and they see these things as a way to earn some cash while you're not using them. Those people aren't wrong, they're just different than I am. OP is well covered by insurance, they won't be out anything other than the time without a Jeep bringing in extra income.
Bro I’m sorry, but if you have to rent your Jeep out to pay for it, you can’t afford it. That’s too risky an investment. That’s like buying a house you can’t afford and renting it out to pay for it. Tenants are awful.
Here in the GTA and in Vancouver, that's exactly what people are doing to afford a house. Sublet/sub rent rooms. A single-detached is hitting $1m CAD in Toronto proper. Rental properties are basically non-existent and 400SqF condos are 400K+. Hell, new townhomes in my area are starting at 700k. My 20year old townhome floor plan is selling for +740k.Bro I’m sorry, but if you have to rent your Jeep out to pay for it, you can’t afford it. That’s too risky an investment. That’s like buying a house you can’t afford and renting it out to pay for it. Tenants are awful.
To be honest with you, I could very easily pay cash for the jeep 5x over without an issue. Its more of my mindset as an investor. I don't buy personal cars unless they are worth under 3 percent of my net worth. I have a hobby for offroading and this fits perfectly for it. Will i most likely buy one again as a rental? Yes but I will exercise significantly more caution when renting it out. Once the vehicle is paid off completely, Id do an engine swap or sell it with the disclaimer of it being rented out. At that point the jeep maintains enough value to purchase a new one with very little down.
I wasn't posting this as a feel bad story, just wanted advice from those that may have had their vehicle stolen before or have used the tracking system that UConnect offer.
Does it suck that it was stolen? yes of course.
Is it something I had accounted for? yes, every business has its shortcomings
I considered exactly this. I still am. Buy a Sahara with a few options, a 3” lift and some 35” tires. Throw on a couple of lights and rent it for $100/day. I’m sure here in the Houston area it would be rented almost every weekend throughout most of the year. Make the payments and insurance and have money left over. It’s not my everyday ride so I’m not as concerned about “strangers driving my Jeep” that seems to bother most people so much.Hope it works out for you.
I must admit I considered buying another jeep and just renting it out. My JK I'm too attached too...
If I can buy/lease a new one and have a new "toy" for almost free why not? Plenty of exotics listed on Turo so why not a jeep!
"Pimping Ain't Easy" as the adage goes.I booked my V41 recall appointment yesterday and had nightmares last night about the service guys driving my Jeep, much less renting it out to perfect strangers. There was a guy on the Subaru forum while back complaining that his renter burnt up the clutch on his STi - I just don't understand why anyone would think that this is a good idea? It's like complaining that your wife left you for some guy she met while you were pimping her out on backdoor
I do advocate censorship. When utilized intelligently and with discretion. But I didn’t and don’t say that it’s applicable here. I’m advocating self censorship. Listening to ones conscience and exercising good judgment. It can’t be regulated.Sure it's the place for it...otherwise you advocate censorship.
And that’s unsustainable. It’s practices like this that lead to rental creep and massive wealth inequality growth in localized areas.Here in the GTA and in Vancouver, that's exactly what people are doing to afford a house. Sublet/sub rent rooms. A single-detached is hitting $1m CAD in Toronto proper. Rental properties are basically non-existent and 400SqF condos are 400K+. Hell, new townhomes in my area are starting at 700k. My 20year old townhome floor plan is selling for +740k.
A large chunk of new units are going into AirBnB, and there isn't a lot of available land in Toronto proper now. Supply and Demand, while I agree it's insane, it's what the market is doing. Throw in most people are stuck with incomes that have been flat for decades, and entry-level work doesn't exist anymore (IE livable wages), this is what happens.And that’s unsustainable. It’s practices like this that lead to rental creep and massive wealth inequality growth in localized areas.