ckdc Posted April 22, 2011 Share Posted April 22, 2011 I'm considering building up an e36 Street/Tracker I can have as a 2nd car and renting it out to some select friends for HPDE's and track events. I just confirmed with Lockton Affinty HPDE insurance that I can name a 2nd driver per event for the On Track policies they offer. I have several friends who are willing to pay for the rental as they don't have a car they want to put on track. These are all friends who could stroke a check for damage below the insurance threshold in addition to the policy coverage. Thought I'd throw out the idea for the HPDE comments. Quote Link to comment Share on other sites More sharing options...
rokkit Posted April 22, 2011 Share Posted April 22, 2011 Whatever you do - no matter how "friendly" you are with people - make sure everything is in writing before they go out on track with your car. Also, you may be liable for the mechanical condition of the car so if it does break and they get hurt, you could be the first target for lawsuit... but that's something to investigate. Quote Link to comment Share on other sites More sharing options...
ckdc Posted April 22, 2011 Author Share Posted April 22, 2011 good comments - thanks Quote Link to comment Share on other sites More sharing options...
laze1 Posted April 22, 2011 Share Posted April 22, 2011 I don't recommend it unless you are a business, and do this for a living Quote Link to comment Share on other sites More sharing options...
aben8057 Posted April 22, 2011 Share Posted April 22, 2011 My 2 cents.... You may also want to think about an incident if another car is involved and how that would be handles. Just be careful as money makes people act unusual. If you do choose to go that route, i would recommend to protect your personal assets and create an LLC. As echoed, have a contract written up and agreed upon. Make sure the car is in "safe" condition to be rented. Quote Link to comment Share on other sites More sharing options...
GerardWon Posted May 16, 2011 Share Posted May 16, 2011 I'm considering building up an e36 Street/Tracker I can have as a 2nd car and renting it out to some select friends for HPDE's and track events. I just confirmed with Lockton Affinty HPDE insurance that I can name a 2nd driver per event for the On Track policies they offer. I have several friends who are willing to pay for the rental as they don't have a car they want to put on track. These are all friends who could stroke a check for damage below the insurance threshold in addition to the policy coverage. Thought I'd throw out the idea for the HPDE comments. You should consult your attorney regarding a liability waiver that your renters would have to sign. I know you said they're friends, But if/when somthing a bit odd happens and they get hurt; you really don't want their wives talking them into suing you for negligence. Or Whatever. Years ago in a school FF race, I had the racing harness malfaction which resulted in a torn hand ligament and surgery for me. Hell No, I didn't even think of suing. But if something odd like this happened to one of your peeps... who knows? just sayin Quote Link to comment Share on other sites More sharing options...
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