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Discussion Starter #1
A buddy of mine fell on hard times, and needed to pick up side gigs (in addition to his regular job), so decided to start driving Uber. Since his car didn't qualify, I started letting him rent my Corolla for $25/week - I would have lent it for free, but he's insisted on renting.

I still only use the car for commuting, so it sits most Fridays through Sundays. My buddy picks it up on Friday, and returns it in time for the work week. Though I haven't asked, the car has been returned washed and vacuumed every Sunday evening.

Seat covers, and WeatherTech mats keep the car reasonably clean in between. There are a few minor nicks, and dings here, and there, but nothing unexpected, or excessive considering its use. The car is getting about an extra 1000-1500 miles a month, but there haven't been any squeaks, or rattles thus far, and seems to be holding up fairly well. It's only been 7 months, and I plan to let my friend keep going on as long as he wishes to keep it up.

I'm pretty sure the car's time with me will come to an end once my friend tires of driving, and then it'll probably be donated to my former high-school's auto shop. I'm fairly sure it'll be replaced with another commuter car...maybe another Corolla...those actually don't look too bad.
 

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Raymond10078
2016 Corolla LE Plus
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I recommend checking on your insurance. Insurance companies, from what I've read, will refuse payment if they were not informed of the business use of your car.

In addition, you're renting it . . . .

Sounds like a future insurance nightmare to me.

Not saying you should stop, but you'd better be well informed and prepared for the "what if".

I mean, let's pretend an accident occurs, that someone energetic lawyer ties to poor maintenance. Would they sue you, too?
 

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Discussion Starter #3
I recommend checking on your insurance. Insurance companies, from what I've read, will refuse payment if they were not informed of the business use of your car.

In addition, you're renting it . . . .

Sounds like a future insurance nightmare to me.

Not saying you should stop, but you'd better be well informed and prepared for the "what if".

I mean, let's pretend an accident occurs, that someone energetic lawyer ties to poor maintenance. Would they sue you, too?
I'm actually covered.
The car is actually on a separate insurance policy for rideshare, with my buddy covered on the policy.
I'm aware of the risks.
As for the car being 'rented', we have no formal agreement written out, and I don't really push my friend for it.
Thanks for the heads up though.
 

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if you have ANY assets please simply sign the car over to your buddy or stop the arrangements asap or risk losing every asset you have. Raymond is absolutely correct and despite you believing you have ride share coverage the problem is twofold and simple... YOU own the car and have an insurable interest in it, HE doesn't. Despite what you say, the fault in an accident is always going to follow the person with an insurable interest, not a casual driver. I am assuming you didn't add your friend to YOUR insurance (and if you are in NY I believe he also has to be one of the registered owners to get insurance on the vehicle)? If you are talking about Uber or Lyft providing their 'insurance' then think again. It may be effective when in active ride share mode, but it's so low level all of your assets are at risk. Why subject yourself to a lifetime of misery to let this arrangement exist? One simple accident, a million dollar lawsuit and guess who is being sued? YOU. Guess who will be paying that million off in installments? You. Guess who won't? Your buddy.
 

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Lawsuits are scary... I'd suggest that if you feel comfortable with the current lending arrangement, then at least purchase an umbrella policy for yourself. My Camry is actually registered in my mom's name (who does have an umbrella policy). Even then, because the car isn't legally mine, I don't feel comfortable letting friends drive it on road trips, because if anything happens, my mom could be sued, as she is the registered owner of the car. I've been thinking about re-registering it to myself for this very reason.

If you trust your friend, an alternative suggestion would be to transfer the title to your friend so that the liability portion is on him. He's using it for rideshare, so most of the risk is during rideshare use anyway. Then you can have him "lend" *your* car back to you during the week for commuting, registered in HIS name. If you're in NY, I'm pretty sure you can write the car as a gift and the only transfer cost will be the title.
 

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I see the point of Corolla being able to handle an extra 18K intensive driving a year. Indeed! Spacious Corolla is among the favorites, with Prius/Camry, of taxi drivers in my town. Not without extra-maintenance cost though, even if it were (and it won’t) just more frequent oil changes than your usual once a year schedule.

Plus as others have mention: careful with insurance. As long as your insurer is aware of a second driver AND commercial use, you’re OK. But that’s another addition to your cost. Otherwise remember that Uber insurance works only when a passenger is in the car or, to a lesser level, when the driver is waiting for a passenger (online). The minute the driver is offline (which is bound to happen over a 72 hours period), you’re on your own…
 

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Discussion Starter #8
I figured this would be the easiest way to reply to all...

I have taken the insurance, and liability issues into account.
First off, I'm not in New York City, or State.
The Corolla has a policy with Progressive, completely separate from my other two cars (actually, a different company all together).
My friend is on my policy (this took a bit of work, but it can be done).
The car is insured for personal driving, as well as ride-share (including the time when waiting for a call, en-route to the call, while driving, and upon completion), as well as specified that there will only be certain times the car is used for such purposes.
I've checked, and double-checked, to ensure that I'm adequately covered (above state mandated limits), as there are many things that are questionable about the Uber policy, I'm not trying to skirt any regulations, or pull one over on my insurance company.
I appreciate the feedback though, many of these points were brought up when I spoke to a different friend who happens to be an attorney.
I've also made periodic checks with, and calls to, my insurance company to ensure that the multiple sources I've spoken to at Progressive have provided all the same information, as well as having it documented.


 

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Whatever arrangement you have and are comfortable with is up to you. I wouldn't have touched that one with a 10 meter pole. The head scratcher in me needs an answer though... aside from the $25 a week, what's in it for you? I mean, I would venture to say that you would be the only person in this forum offering their car up for ride sharing when it's someone else getting the benefit. Just the wear and tear on the car, the possibility of lawsuits (and no, you are never 100% protected), the extra costs of insurance, maintenance, and the rest would certainly point you as the loser and the other guy the clear winner. Maybe it's me, but the only way I could ever see me doing what you did was if it was a blood relative, not a 'friend in need'. What's the deal? Inquiring minds need to know.
 

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Discussion Starter #10
Whatever arrangement you have and are comfortable with is up to you. I wouldn't have touched that one with a 10 meter pole. The head scratcher in me needs an answer though... aside from the $25 a week, what's in it for you? I mean, I would venture to say that you would be the only person in this forum offering their car up for ride sharing when it's someone else getting the benefit. Just the wear and tear on the car, the possibility of lawsuits (and no, you are never 100% protected), the extra costs of insurance, maintenance, and the rest would certainly point you as the loser and the other guy the clear winner. Maybe it's me, but the only way I could ever see me doing what you did was if it was a blood relative, not a 'friend in need'. What's the deal? Inquiring minds need to know.
There's really nothing in it for me.
If it weren't for the person I'm doing the favour for, there's no chance I'd do it at all - I've been friends with my guy for the better part of my life (going back to elementary school), and he's one of the most trusted people I know. He's gone from the top, to falling on hard times (not completely his fault), and been one to hook me up with professional connections. He's like a brother.
As for the car...it's a Corolla...so no real loss there.
As you said, there's a risk, but I'm fairly comfortable taking the chance.
 

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Moderator
2006 Corolla XRS
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As long as you stick to the maintenance schedules, the car should do well.

You will just have more than normal consumables. It's common nowadays to do ride share.

Karma will return you the favor 100x over.
 

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straight cash homie
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As for the car...it's a Corolla...so no real loss there.
As you said, there's a risk, but I'm fairly comfortable taking the chance.
If something happens to the car, just go buy another one :grin:

The cars can take a beating...if a Corolla can take the wicked streets of Kabul, nothing in the States is a problem.
 

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Discussion Starter #13
The cars can take a beating...if a Corolla can take the wicked streets of Kabul, nothing in the States is a problem.
Exactly why I'm not worried about...I've even seen some in taxi use around here.
 

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Discussion Starter #14
As long as you stick to the maintenance schedules, the car should do well.

You will just have more than normal consumables. It's common nowadays to do ride share.

Karma will return you the favor 100x over.
In the 7 months my friend has been using the car, he's done an extra oil change, and been watching the consumables (checking brakes, and fluids, etc). It's actually being cared for better than when I was the only one using it (aside from lending it out to friends, or family). I don't abuse the car, nor do I pamper it, and it's met my expectations.

As for karma, i'm sure my friend would do the exact same for me, or help me out should the roles be reversed.
 
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