Renting out a car to a tax driver a good business?

[Dghtnvtr]

Hi I live in Staten Island a borough in New york city.Here we have local cab companies who mainly operate in and around Staten Island.These are not yellow cabs that operate in Manhattan but if u call them they will come to your house and pick u up.I am thinking of buying a car with my own money and then get one such company's logo in my cars and then rent them out to local drivers wwho in turn will give me a fixed amount of money everyday.This is excatly how I intend to make money without actually physically working.Ofcourse I know there will be insurance and stuff like that I have to take care about but other than that I dont actually see myself WORKING in the real sense.Do anybody over here think its a good legal way of earning money without sweating?Any answers and comments will be highly appreciated.Thanks

[AffiliateHookup]

Don't forget to add maintenence to that amount. This can vary, as some of these taxi cabs get used pretty hard.

It is difficult to imagine you making much money with just one car. I would think that any money that is really made would be by a volume.

Also, I think that you are strongly mistaken if you think that you can earn money without actually working. It is a nice goal, but with that attitude, I think that your earnings potential will be quite limited. There is no free lunch!

[Babs0275]

I remember reading somewhere, maybe it was here, about a "community" car whereby it would be available for rent when not in use. The car would just be parked anywhere where the last user parked it and the next user would just get in and use it.

O.k.. I found it on the web and guess what it's called? "Community Car"! http://www.communitycar.com/

Here's another one: http://www.zipcar.com/

I wonder how it's going?

Maybe you rent a few to some NASCAR guys, too. Sounds like asking for someone to beat up your investment.

Does the term "Don't worry, it's a rental." mean anything to you?