loaning out my trailer ?

A co-worker of my sister's want to "rent" my boat trailer that I don't use since my boat lives on hoist at a dock.

He lost his boat trailer in a traffic accident and the new trailer is going to take 6 wks to show up.

He is said to be a good guy.

I would not mind helping this guy out but I am concerned with liability from the trailer and potential damage to the trailer.

Do you think I should consider helping this guy out?

If so, how should the contract be stated such that I don't have liability (if my trailer fails) and I don't get screwed (if he wrecks my trailer)?

One option is to sell him the trailer with an option to buy it back. This way he has all the liability and he needs to return it in good shape to get his money back. Yet, this is awkward since it involves the DMV and such. It all sounds like a lot of work for little gain.

If your worried this much about liability, then I wouldn't do it. Unless of course the rent money is worth it.

Your trailer will be covered under his auto policy while being towed.

"He is said to be a good guy."

famous statement.

Why not, make some money off the deal and make sure he's got insurance on it.

I see no significant benefit to you. As a rule, don't let people borrow, or rent, your stuff, and don't let people borrow money.

I would have to agree with the statements above. #1 you are already questioning it, so you are going to be worrying about it if you do it. #2 I would say if it was related to an accident he should work with his insurance to get a temporary replacement.

Also, not all trailers are set up the same. Vdrive trailers have the wheels in a different location than direct drive trailers. Then the bunks are not always in the same locations. Lots of variables on top of the ones mentioned above.

I have a 2000 BU Wakesetter VLX. He has a 2001 BU Sunsetter VLX. Again, I have never met the guy.

I think the trailer would work for him. Only my trailer has hardly been used in 7 years (used 7 times for service). It has the original tires and bearings on it. I am thinking that it could spin a bearing or have a blow out soon if used heavily. Do you think this is a legitimate concern?

Trailers are NOT covered under auto policies. The liability is covered, if the trailer causes damage to another vehicle, however any damage to the trailer, towing expenses, storage, etc.. for the trailer itself, would be under the boat policy assuming it has coverage for a trailer.

GD that is a good point. If you are not comfortable with it don't do it. I don't think the bearings are the issue, the seven year old tires that are never used could be though.

James, I've always been told that if it's hooked to the truck and the truck has full coverage then teh trailer/boat or whatever IS covered under the autopolicy. To the point of if something valuable gets stolen out of the boat while it's hooked up, even that is covered?

My insurance agent is a good friend of mine, I'll give him a call at lunch and find out.

RD

Personally, I would do it. Dood needs a trailer because he lost his in an accident and until he can use one he's lost his boat. You happen to have a trailer that isn't in use and may be a perfect fit. It certainly seems like a situation where the two of you could mutually benefit. It's sad that in our culture we can't help eachother out anymore without fear of personal liability, and I for one refuse to be sucked into that B.S. I'd check with his and my insurers to see who and what was covered, I'd write up a basic contract (or find one on the web and make any corrections or additions to make it better apply to the situation), and I'd verbally cover any specific concerns. Maybe someday I'll be sued and lose everything because I go about things this way, but I doubt it. I'm also abnormally tolerent of risk, so take that into account when forming your own opinion.

"He lost his boat trailer in a traffic accident"

Hmmmm....I would need to know more details about how his first trailer got jacked up in the accident.

I too might want to help a fellow boarder out and would have no problem loaning out my trailer to a friend. My boat sits on a lift too. Loaning it to somebody I don't know for an extended period, probably not, but I might if the carma felt right and they were throwing in fresh tires for the trailer or something like that so it could be returned in better shape than when it left.

riverdave is correct. It is on the auto policy. If your's has a clause in it about towing then your insurance sucks and you should get something else.

Nothing related to towing or the trailer is covered on your boat's policy however.

I also want to help him out but want some protection and some compensation.

Maybe I will make that the rental charge be repacked bearings and 4 new tires at a quality service center. What do you suppose this would cost?

This plus a written acceptance of all liability, a promise to repair all damage and a significant deposit should do it.

4 tires would be 100 bucks a whack, repacking the bearings should be about 20 bucks.. Honestly if you have bearing buddies, you can do it yourself in a matter of minutes though.


To throw something else at y'all. If this was on the hotboat forum, it'd be a no brainer.

"When are you going to come and pick it up?" would be the answer. The owner of said trailer if it was in the exact circumstances would probably put new tires on it, and have the bearings repacked before lending it to the guy to make sure he has a trouble free trip.

Different mentallities I guess?
Most the guys over there are from the old school, you help out a fellow boater no matter what.

There's stories on there where people went to borrow a jack to change a tire, woke up the next morning to find their tire changed for them. etc..

I'd hit him up about his insurance, make sure it's good, get it ready (if MY trailer needed maintenance) and tell him to have a good time if it was me. No contract etc. It's not necesarry.

RD





(Message edited by riverdave on June 05, 2007)

(Message edited by riverdave on June 05, 2007)

dude how long is he going to be using the trailer. That seems way steep.That is going to run over $500 or more depending on the tires used. As far a any liabilty if you can't trust him or he isnt a good friend than dont do it.

GD -- I certainly didn't meant to imply that you didn't want to help him. My remarks were not aimed at you, just a social commentary.

I don't think it is different mentalities. To me my concern related to GD's original hesitation, which I would have as well and I believe is justified given the information he has. If you feel good about doing it and had some faith and trust it would be taken care of, go for it. There is a big difference between a quick day use and 6 weeks.

I would be curious about what happened to the original one and why his insurance was not taking care of a replacement or rental. What about his dealership?

IMHO

(Message edited by Bazel on June 05, 2007)

Ya, $500 is too steep.

He wants the trailer for 6 weeks.

What do you think is a fair price for a trailer rental for 6 weeks?

RD, if this guy was someone that I knew or a wakeworld regular, I would have a totally different attitude.

"He lost his boat trailer in a traffic accident"

Why isn't he getting a trailer 'rental/loaner' from the insurance company? This is not out of line to ask.

As partyb said before... As a rule, don't let people borrow, or rent, your stuff, and don't let people borrow money. This isn't your problem no matter how much of a 'good guy' you want to be. Once again... What significant value is it to you? Even if you get $500 worth of tires you have to ask yourself is it really worth it. Let's say he tells you he is going to get the trailer insured and it gets stolen or in another trailer accident. Is he going to pay the deductible? If this happens you will be the one out 6 weeks for your 'new' trailer and i can guarantee a huge series of headaches and hassles.

"No contract etc. It's not necesarry." these are some famouns last words. How about this scenario... The trailer bearings fail and the wheel flys off into the side of the boat and causes fiberglass damage. What happens if the 'borrower' comes after you for faulty trailer maintenance.

I will have to ask again. Where is the loaner trailer from the insurance company for the 6 week interim?

Some insurance policies do not have 'rental' coverage and even if it did, finding the right trailer for rent would be tough if not impossible in the retail market.

GD - Obviously you got the full range of opinions and this is certainly not your problem and you could easily walk away from his situation. You throw him a bone and he might be in a position to help you out down the road or he might take advantage of your good nature. Only you will be able to sense if this guy measures up in trust and character but in the end there will be no way to know for sure.

I do not think this is a high risk situation though. Yeah there are a ton of things that Could happen, but this is a trailer for Gods sake, not a truck or boat where there thousands more working parts that could fail. To put it perspective, I would bet that there is a lot more risk if you give someone a pull behind your boat that loaning your trailer. How many wakeborders need expensive surgeries/hospitalizations and how many of us have given more or less strangers rides behind our rigs without obtaining waivers or checking to see if they have health insurance or even worse from a litigators perspective given someone alcohol and then pulled them????

TR, like I said I would do the maintenance on the trailer myself before I lent it out. If you are "renting" your trailer, or accepting some goods be it cash, or new tires etc.. for them to borrow it, then you are at your own peril as far as all that goes. Your no longer doing a favor, you are providing a service.

RD

I firmly believe in what goes around comes around. This is your chance to earn some good karma.

I would do it.

If he was not somebody that I personally knew well and trusted, I would ask for a cash deposit for the replacement value of my trailer. Upon return he gets all his money back less the cost of any damage up to the total loss replacement value, based on my assessment of my trailer.

If he did not like this agreement he could go elsewhere. Likely his dealer or trailer guy might have a loaner.

Dave I thought you were done with Wakeworld.. We knew you wouldn't leave, even if you didn't post we knew you wouldn't leave.

why couldn't the local dealer loan/rent him a trailer
my dealer has extra trailers

if not...I aqree with Dave

He has ordered a trailer. It is supposed to arrive in 7 to 10 weeks. I guess there aren't extra or loaner trailers around for 6 year old boats.

I think I like Mikeski's answer best. Thanks!

Since he is going to use the trailer for 6 to 10 weeks, what do you think a fair rental cost to cover wear and tear? $10, $15 or $20 per week?

How far will he be towing? If its just 15 minutes down the road that would be different then at highway speeds for 2 hours? I agree with Dave above about not renting it out due to liablity except if a simple liability waiver is drawn up so if something happens he cant blame you. It should be HIS responsiblity to inspect the trailer and determine its street worthyness.
$50-$75 bucks shouldnt be too much to ask for wear and tear and dont forget if for some reason you need it and his boat is sitting on it.

Nu Bu, I was killing time waiting for that Kevin Vitorino guy, so I temporarily clipped one of my message boards that I'm usually on to make time to be over here. Well as you know he never popped back up, but in the mean time.. Dare I say it... I'm learning quite a bit over here, about different ways to solve similar problems with relation to boating in general. I've been kinda consumed reading some of the archives..

I won't lie, I do plan on getting a wakeboard boat someday. I probably won't use it 100% for the same reasons as you guys do on this board (more for just a cruiser party platform), but I wouldn't mind learning everything I can about them in the mean time.

RD

(Message edited by riverdave on June 06, 2007)

Anyone have an idea what a 7 year old trailer would go for on the used market?

If it's in good shape (no rust), about a 1000 bucks for a 21' trailer.

RD

Ya, no rust. 21'. Dual axle. Used 5 times. But, sun baked.