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Afraid of renting your cars out? 1. It was reported in the newspaper that almost 50% of Car Rental companies in Singapore have lost one or more of their cars to car thieves. 2. As for the other 50%, we believe it is just a matter of time because rental cars are very easy to steal. All one need is an IC and a Credit Card. Doesn't matter whether it is fake or real. 3. Even if the hirer is genuine, he/she is more than willing to give up the keys to approaching car thieves to ensure their own safety. This is because the car does not belong to them so they don't see the need to protect it and risk endangering their own lives. 4. Insurance company will not compensate stolen rental cars (especially private ones) because to them, these are considered a breach in agreement between Car Rental companies and the hirer. 5. Most hirer will also not have the money to repay Car Rental companies for the loss of their cars. To sue them will incur high legal cost and takes a very long time. 6. End up, Car Rental companies will have to bear this huge loss themselves. This can potentially bankrupt the company and its owners or drown them in deep debt.
Note: If you are a private car owner and you loan your car to car rental companies for it to be rented out, your car will not be covered by insurance at all. If it is stolen, you will not get anything from the Insurance company. The bank will also ask you to settle the outstanding bank loan immediately. The only way to avoid getting yourself into this mess is to be able to find your stolen car back.
Main services for Car Rental companies:
Since 2003, more and more Car Rental companies are depending on our tracking system to protect their cars. Many also install our tracking device in private cars that was loaned to them by car owners who are unable to service their car installments. Without a tracking device, it is just too risky for one to run a car rental business. Act now before it is too late. It is just a matter of time before car thieves strike and they will strike. Please call 68488435 to find out more and for special quotes for Car Rental companies only.
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