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That’s a rough situation…
Parting It out isn’t going recover enough IMO. If you have the means, I vote reframe it.
Parting It out isn’t going recover enough IMO. If you have the means, I vote reframe it.
Scrap price for a 2023 Maverick X3 Max DS Turbo 64
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It’s always on the renter, not the rental place. There are situations where you can get your auto insurance to cover stuff “depending”. Probably not SXSs though.
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IDK, I always thought the renter had to get the insurance, no? You’re in the business though, you would know best.
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Agreed but guaranteed they have insurance to protect the asset.
Now if they do and the insurance paid they would subrogation back to the renters.
So either way it would come back to them but to day they don't, I don't buy it.
Bottom line is the renter pays either way.
Tim
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You are right for sure but my issue I'd they just be upfront. Like the post above the renter will pay either way like you said.
Tim
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If you're in business and you're making money with an asset, Believe it they have it insured.
What if a fire happened, what if it were stolen et cetera.
They would just be better off explaining that If the insurance pays it will cost way more with the fees the insurance company will add.
Tim
What if a fire happened, what if it were stolen et cetera.
They would just be better off explaining that If the insurance pays it will cost way more with the fees the insurance company will add.
Tim
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Those rental places are so shady, especially in Glamis. About 10 years ago I had some friends fly in from Jersey. They rented quads. Most got Raptors, 1 guy had to get a Kawi KFX700. They all had to give like a $500 deposit. Well, he rolled, I told him not to open his mouth, let them tell him. Well when we get there, he says all I have is $610. They said that would cover it. I sad what about the $500 deposit? They looked at me and said plastics are very expensive, yeah sure…..
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They can't claim the insurance and collect from the customer without committing insurance fraud.
The customer will be gone after by the insurance company and the cat will be out of the bag.
Believe it, they are not wanting to not turn this in to help the renter they are not wanting a claim. I don't blame them but they should explain one way or the other the renter will pay or be sued etc.
When an insurance company uses subrogation they can add all sorts of administrative fees and costs etc.
It would be significantly more than what they actually paid out.
Tim
My guess is as everyone say they have insurance likely the rental place bought it on time. I cant see them buying two or three of these to rent and if it’s private ownership even more likely they didn’t pay with cash and leaving up to the renters to buy insurance
you’ll probably need to play hardball demand the payoff of the unit if you have the vin do a search to find out the true owner it’s a DS stocker hopefully it works out
Did you rent it from the guy in Coyote Wells in Ocotillo to rid at Plaster City ?
you’ll probably need to play hardball demand the payoff of the unit if you have the vin do a search to find out the true owner it’s a DS stocker hopefully it works out
Did you rent it from the guy in Coyote Wells in Ocotillo to rid at Plaster City ?
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I'm not following about demanding the payoff?
Tim
The Rental Guy is either going to say I paid 25k for that and it’s junk now, so you keep the junk and give me 25K so I can replace it
The Rental Guy is either going to say I paid 25k for SXS and it’s junk now, so you keep the junk and give me 25K so I can replace it
Im still thinking of our rental guys here in town that rent water craft and UTV they are real businesses I just can’t imagine not having or offering insurance
I often wonder about these guys renting the flatbed trailer out on weekends on Craigslist are they just trying to offset their payments on a 5k flatbed they bought
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I'll never know the truth about what the rental company has for coverage. He has a 20 vehicle fleet. That's a big number to not have insured. He's got to have insurance to cover them. He said that there is no insurance that he could pass through to the renter other than liability which is included in the rental cost. He said it's a California thing.
The rental place is in Ocotillo Wells to ride in the ORV area.
The rental place is in Ocotillo Wells to ride in the ORV area.
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The rental agreement is clear that the deck is stacked in their favor.
LIMITATION OF USE AND RESPONSIBILITY FOR LOSS OR DAMAGE. Only persons signing or otherwise identified in this agreement will operate the Rented Unit(s). Other vehicles or equipment and passengers will not be carried on any Rented Unit. UTV passengers under 18 must provide XXXX with written consent from a parent/guardian. Should any undersigned person, or any minor child, or any other person with permission operate any vehicle or equipment in a manner that results in theft, loss of or damage to such vehicle or equipment, the undersigned agree to be jointly and severally liable for all such loss or damage, regardless of the forfeit of any damage deposit. The undersigned agree to pay for the loss of use of any Rented Unit or other vehicle covered by this agreement which becomes damaged at the daily rentals rate from the date of damage until repaired and placed back in rental service, not to exceed 30 days. The undersigned authorizes XXXX to charge the credit card provided as part of this transaction for any additional rental, damage, and loss of use charges that are incurred under the terms of this agreement.
30 Days of "loss of use" = $18k. Renter has no protection. Ride within your means kids, but that's out the window once a bunch of young guys start to amp each other up.
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What he paid has zero bearing here.
The ACV value which means " actual cash value " is all that matters.
The value of the property at the time of the loss is what the rental company is owed.
Now the fact there is a salvage value here can be used to offset the payment by the renter but that's only IF the rental company so chooses to accept the salvage.
I'm not sure how you think what he paid has any bearing. What if the sxs was gifted to the rental company ? Do you think that are not owed money?
The fact is the renter must indemnify the rental company or face legal consequences.
Tim
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Well, there it is in writing, basically boiler plate stuff. Nobody ever really reads it because nobody thinks it will happen to them, unfortunately.
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The loss of use is in place in the case of loss of use. So with that said your son owes that in addition to the cost of the machine. Not in lieu of.
Tim
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The list of charges goes on and on. Roll over fee. Towing fee. The owner says he's not looking for all that. He wants to come up with a number that's fair for both parties. I'm good with it... if the number is good.
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