Permanently Renting Instead of Owning
Feb 21, 2013, 7:03 am
#31
Join Date: May 2005
Location: various cities in the USofA: NYC, BWI, IAH, ORD, CVG, NYC
Programs: Former UA 1K, National Exec. Elite
Posts: 5,485
I sort-of do this. I rented about 1/3 of the days last year for a total of about $2200 for an average of just under $18/day and $0.21/mile.
Most CCs limit car rental coverage to shorter rentals (e.g. 15 days domestically, 30 internationally). AFAIK they often have clauses excluding back-to-back rentals.
Does Amex Plat cover continuous or back-to-back rentals of over 15 or 30 days?
All-in since 2005. Renting from a large airport location - 1 year (360 day contracts) that renew monthly RAs automatically every 30 days. Rate negotiated directly with National, which includes a renewable weekly coupon multiplied by 4 to equate to a monthly discount that overall, is very competitive with the rates mentioned earlier in this thread.
Billed to my Amex Plat for points and coverage
Billed to my Amex Plat for points and coverage
Does Amex Plat cover continuous or back-to-back rentals of over 15 or 30 days?
Feb 21, 2013, 7:15 am
#32
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Join Date: Sep 2002
Location: Chicagoland, IL, USA
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Posts: 14,174
I met a guy who does this in Chicagoland. He negotiated a great rate, is obviously at the top level of the rental company's rewards program, gets the Amex flat rate insurance of $24.95 (I think it is).
Never has to pay for washing or oil change or tires, just returns and swaps. And if the the short term he needs a passenger van or a pickup truck or a sports car for a date or whatever, he also can swap.
Next time I am thinking of buying a car, I am going to took at it.
Never has to pay for washing or oil change or tires, just returns and swaps. And if the the short term he needs a passenger van or a pickup truck or a sports car for a date or whatever, he also can swap.
Next time I am thinking of buying a car, I am going to took at it.
Feb 21, 2013, 7:26 am
#33
Join Date: Oct 2007
Programs: American Platinum, Delta
Posts: 97
I've been doing this for about 18 months now and I feel that its the best decision. The best part is that I am not maintaining something and paying for it to depreciate. This is especially true if you travel frequently.
Feb 21, 2013, 7:57 am
#34
Join Date: Feb 2008
Programs: National Executive Elite, Hertz PC, Avis CC, Continental Onepass
Posts: 451
I sort-of do this. I rented about 1/3 of the days last year for a total of about $2200 for an average of just under $18/day and $0.21/mile.
Most CCs limit car rental coverage to shorter rentals (e.g. 15 days domestically, 30 internationally). AFAIK they often have clauses excluding back-to-back rentals.
Does Amex Plat cover continuous or back-to-back rentals of over 15 or 30 days?
Most CCs limit car rental coverage to shorter rentals (e.g. 15 days domestically, 30 internationally). AFAIK they often have clauses excluding back-to-back rentals.
Does Amex Plat cover continuous or back-to-back rentals of over 15 or 30 days?
Feb 21, 2013, 8:08 am
#35
Join Date: Jan 2007
Posts: 2,905
Yes, they have 3 additional tiers beyond the standard coverage called Amex Premium Rental Car Protection.
Feb 21, 2013, 10:52 am
#36
Join Date: Feb 2008
Posts: 1,154
There's still a part of me that finds the idea appealing, but I just haven't convinced myself that it makes reasonable financial sense for me to be willing to put up with the inconvenience.
Feb 22, 2013, 8:50 am
#37
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Join Date: Jul 2002
Location: MCI
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Has anyone actually confirmed that credit cards' insurance benefits - whether the included version or the primary coverage for $24.95 per rental - are valid in perpetuity as long as you close out the rentals every 30 (or 42) days?
Figured there'd be a back-to-back clause in there. Seems too good to be true. Even if I'd read the fine print forwards and backwards, I'd probably go back and forth between two cards issued by two different banks - maybe an Amex and a Diner's.
Figured there'd be a back-to-back clause in there. Seems too good to be true. Even if I'd read the fine print forwards and backwards, I'd probably go back and forth between two cards issued by two different banks - maybe an Amex and a Diner's.
Feb 22, 2013, 9:02 am
#38
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Join Date: Sep 2002
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Has anyone actually confirmed that credit cards' insurance benefits - whether the included version or the primary coverage for $24.95 per rental - are valid in perpetuity as long as you close out the rentals every 30 (or 42) days?
Figured there'd be a back-to-back clause in there. Seems too good to be true. Even if I'd read the fine print forwards and backwards, I'd probably go back and forth between two cards issued by two different banks - maybe an Amex and a Diner's.
Figured there'd be a back-to-back clause in there. Seems too good to be true. Even if I'd read the fine print forwards and backwards, I'd probably go back and forth between two cards issued by two different banks - maybe an Amex and a Diner's.
Feb 22, 2013, 9:18 am
#39
Join Date: Mar 2007
Posts: 3,784
While I do own a car, it's 40 years old and British, so it's not exactly for day to day transportation. Otherwise, I get around by biking/walking (I live in DC and can walk to pretty much anything I need), Metro, Car2Go (Better than Zipcar for quick point to point drives), and renting when needed. I honestly don't see the point of owning a car, but I also don't live in the boonies. YMMV.
Feb 22, 2013, 11:17 am
#40
Join Date: May 2005
Location: various cities in the USofA: NYC, BWI, IAH, ORD, CVG, NYC
Programs: Former UA 1K, National Exec. Elite
Posts: 5,485
Feb 23, 2013, 8:21 am
#41
Join Date: Mar 2007
Location: US
Programs: DL GE
Posts: 1,654
Your 3 year numbers are a bit low (and incomplete). Insurance seems low at $1,200 year - for someone with any accident history the rate on a new car could be well over $3 k per year. You also left off buying new tires (which need to have decent tread when the lease is over) and sales tax (a lot of jurisdications charge 6-8% sales tax). Plus you are paying that daily rate every day (365 days a year-so even when you are out of town on vacation or business). The base rate typically only allows 10-12,000 miles per year with extra charges over that.
Rentals from non-airport locations are often cheaper as they do not have the airport surcharges. Plus, as previously noted, you earn status for better cars (and free rentals, etc.)
All in all renting could be cheaper and more fun (and you only pay for the days you use it). One downside would be the need to swap out vehicles. And, of course, if you are married, best to not even attempt it as "she who must be obeyed" will undoubtedly have little enthusiasm for such an arrangement.
Rentals from non-airport locations are often cheaper as they do not have the airport surcharges. Plus, as previously noted, you earn status for better cars (and free rentals, etc.)
All in all renting could be cheaper and more fun (and you only pay for the days you use it). One downside would be the need to swap out vehicles. And, of course, if you are married, best to not even attempt it as "she who must be obeyed" will undoubtedly have little enthusiasm for such an arrangement.
If a 3 yr lease is around 36k miles, I would assume OEM tires usually rated between 30 and 50k would be fine unless you are mean to them.
I understand the mileage disparity between leasing and renting but it was mainly a quick comparison w/o even knowing what daily rate every-day-renters are getting.
Pretty awesome that it is under $20 and while it does sound intriguing, I don't know if my random schedule would work well (ie, end up paying for parking a rented car)..
Feb 23, 2013, 8:52 am
#43
Join Date: Jul 2001
Location: Chicago
Posts: 2,682
Insurance is cheaper than you think it is.
Feb 23, 2013, 11:19 am
#44
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You must either have a location switch or gap between rentals if you want them to count.
Feb 23, 2013, 12:03 pm
#45
Original Poster
Join Date: Aug 2012
Programs: National Executive Elite, Avis Chairmans Club, Hertz Presidents Circle
Posts: 328
Officially they don't count. I have been very fortunate that about every 4 to 6 months I will email National with the RA's I didn't receive a rental credit for; and they end up issuing me credits anyways for the majority of the rentals that were longer than one day.
Just recently they issued me 11 extra rental credits, for rentals that technically didn't qualify according to the t&c. (Consecutive or simultaneous rentals.)
Just recently they issued me 11 extra rental credits, for rentals that technically didn't qualify according to the t&c. (Consecutive or simultaneous rentals.)