LF: Vehicle Rental or Loan (5 months)

[Meelapo]

I'm hoping someone here on CP can help myself and my wife out. A few weeks ago I had some issues with my car. I took it to a mechanic that I've worked with before and he told me that my Jetta requires a new engine at a cost of around $5000 + $1000 for installation. At this time we're not looking to repair the car because we have a new car coming sometime in February or March (2016 Golf R). We feel that $6000 repair for five months of a car is a bit too much.

That being said I don't think my wife and I can survive with just one car because:

- I work in the NE and she works downtown
- I go to school 2-3 evenings and week and she doesn't

Does anyone have a spare and reliable car kicking around that they would rent out for a reasonable rate or know where I can do some sort of monthly rental? Renting from a car rental place looks like it'll cost $40 a day and will end up costing almost the same as repairing my Jetta.

Any advice or direction would be greatly appreciated!

[MacDaddy77]

do you live within the Car2go "free" zone? your wife can use that for the few months to get to work

[KTrain]

Rent-a-Wreck does car rentals for about $550 a month if you're not in the Car2Go area.

There has to be some insurance issues with lending your car to a stranger for 6 months as well so take that into consideration.

[Fuzz]

Buy a few thousand dollar beater and sell it for a similar amount when you get your new car?

something like this: You could probably sell it for $1500 in the spring.
http://www.kijiji.ca/v-cars-trucks/c...ationFlag=true

[btimbit]

Originally Posted by Fuzz

Buy a few thousand dollar beater and sell it for a similar amount when you get your new car?

This. Just buy a 12 year old Focus or something. Be cheaper than a monthly rental plus you can sell it for most of your money back (cheap car in the $1000 to $2000 range would only depreciate $100-$200 in that time). Keep the plate off your Jetta and transfer it to the cheap car for $20 to save on new registration fees. Only real cost is insurance, which depending on your rates, might not be much anyway. No point in putting full coverage on it.

Car: $1500
Registration: $20
Insurance for 5 months: $500 (using my rate)
Sell car after 5 months: $+1250

Bang, essentially a 5 month rental for less than $800. Good luck finding an actual rental rate less than that. Plus no limits on how many kms you can put on the thing

[skudr248]

+1 for just buying a crap winter beater that's good on fuel and sell it when you take possession of your new whip. You will appreciate your new car more too lol.

[Fuzz]

Oh, I do think most insurance companies require an inspection for vehicles older than 10 years. You can find out what they look for, but I think it's mostly all lights working, wipers, tires/brakes in reasonable condition and no cracks in windshield. Safety stuff, they don't care that the engine runs rough.

[Fozzie_DeBear]

Originally Posted by btimbit

This. Just buy a 12 year old Focus or something. Be cheaper than a monthly rental plus you can sell it for most of your money back (cheap car in the $1000 to $2000 range would only depreciate $100-$200 in that time). Keep the plate off your Jetta and transfer it to the cheap car for $20 to save on new registration fees. Only real cost is insurance, which depending on your rates, might not be much anyway. No point in putting full coverage on it.

Car: $1500
Registration: $20
Insurance for 5 months: $500 (using my rate)
Sell car after 5 months: $+1250

Bang, essentially a 5 month rental for less than $800. Good luck finding an actual rental rate less than that. Plus no limits on how many kms you can put on the thing

It would be less than that since he would have had to pay insurance on the Jetta anyways.

[jwslam]

Originally Posted by Fuzz

Oh, I do think most insurance companies require an inspection for vehicles older than 10 years. You can find out what they look for, but I think it's mostly all lights working, wipers, tires/brakes in reasonable condition and no cracks in windshield. Safety stuff, they don't care that the engine runs rough.

http://www.registriesdirect.ca/pdf/V...Inspection.pdf

[malcolmk14]

Find a 2006-2008 car and re-sell it after 5 months. No provincial inspection cause it's less than ten years old.

[skudr248]

I bought my 2003 vehicle in 2014 and never had to do an inspection on it? (RBC Insurance) I thought it was older than 12 years not 10?

[Meelapo]

Great. Thanks for all the information everyone. I'm not really knowledgeable when it comes to buying used cars so I wasn't sure if it was easier/cheaper to buy something old now and sell it again later. That might be the best route to go.

[Fuzz]

Originally Posted by skudr248

I bought my 2003 vehicle in 2014 and never had to do an inspection on it? (RBC Insurance) I thought it was older than 12 years not 10?

Yes, it may depend on the insurer. Are you sure it's a 2003? I think they go by manufacture date on the VIN, so you may have squeaked by. I got by on 1 month on mine!

[btimbit]

Originally Posted by Fozzie_DeBear

It would be less than that since he would have had to pay insurance on the Jetta anyways.

I assumed he'd get rid of it

Originally Posted by skudr248

I bought my 2003 vehicle in 2014 and never had to do an inspection on it? (RBC Insurance) I thought it was older than 12 years not 10?

It is 12 years in Alberta, but depending on your insurance company, your history and relationship with them, they might not even ask for one.

Even if they ask for an inspection, the inspection is a joke anyway. You'll get insurance then you have 2 weeks to get the inspection done. It's less than $100 and unless the vehicle is falling apart it'll pass. Or just find some backyard bozo mechanic on kijiji who'll come do it for $50 without even looking at the vehicle

[puffnstuff]

It does depend on the insurer, I just registered and insured a 2001. No inspection required.
The VIN only denotes the year. Month and year of manufacture will be on the sticker inside drivers door.

[DoubleF]

Originally Posted by btimbit

I assumed he'd get rid of it



It is 12 years in Alberta, but depending on your insurance company, your history and relationship with them, they might not even ask for one.

Even if they ask for an inspection, the inspection is a joke anyway. You'll get insurance then you have 2 weeks to get the inspection done. It's less than $100 and unless the vehicle is falling apart it'll pass. Or just find some backyard bozo mechanic on kijiji who'll come do it for $50 without even looking at the vehicle

I thought you had to fix whatever was flagged in the inspection within X time before they allowed the car to be insured?

[btimbit]

Originally Posted by DoubleF

I thought you had to fix whatever was flagged in the inspection within X time before they allowed the car to be insured?

That'd be the same 2 week period. I should have worded that better. From the date you insure it, you have 2 weeks for it to pass a safety inspection before the vehicle is then considered un-insured again. If it passes just send a copy of the report to your insurance company and away you go. If it doesn't then you'll have to keep it off the road until it does pass. They give you that 2 weeks to make it easier to drive to a mechanic and whatnot.