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Leasing out own private vehicle

Discuss about car leasing and rental in Singapore.
basil
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Leasing out own private vehicle

Postby basil » Sun, 30 Mar 2008 6:00 pm

Hi

Can someone confirm if this is legal or not? I thought it wasn't here :? but i regularly see notices on the cold storage boards etc.

Also one of the car rental companies i am looking at offers a service where they can loan out peoples private vehicles.

I'm a bit confused

yoongf
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Joined: Tue, 20 Jul 2004
Location: Dunearn/Chancery

Postby yoongf » Sun, 30 Mar 2008 11:34 pm

The issue is with the motor insurance. Normal private car insurance does not cover "for profit" rental arrangements. Should there be an accident, and it's eventually found that it's a rental arrangement, then it's considered as driving without insurance.

tiburonturby
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Joined: Wed, 16 Apr 2008

Postby tiburonturby » Wed, 16 Apr 2008 11:29 pm

It is the onus of the car owner to purchase the relevant or additional insurance coverage to cover the lease period if it is a private rental arrangement or agreement. It sis still legal if done this way.


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