Hey all!

I recently got a Nanocom and used it to code a few keys, activate the heated windshield, turn off some chimes, like the no-seat belt warning, adjust the air suspension, etc. SUPER awesome tool. But now it's pretty much just sitting around. Obviously it still has a ton of value to me, but I was thinking about renting it out to folks here on the forum but wanted to test the waters and see if this is something anyone would even be interested in.

I was thinking of facilitating it the way O'Reilly or AZ does their rentals. Basically, using PayPal, charge the full cost of the Nanocom, like $400, ship it out, and when it's returned, refund the full amount, less shipping and something like $20. Thoughts? Is this useful or dumb?

 

Can nanocom read SRS codes?

 

Yep yep.

 

So I rented an expensive BMW rear subframe bushing removal tool off of a guy on bimmerforums.
He had a waiting list for the thing.

He took a "deposit" that covered the cost of the item plus a rental fee via PayPal..
You had x number of days to get it back to him then you got your deposit back.

If there is any interest - I'd have a new thread with an ongoing list of people in line to rent it and the specifics of the process

The issue I see with the nanocom is the replacement cost and what you would need to hold in the event it got destroyed or never returned by someone.
But who knows

 

I've seen similiar things on other forums, and it seemed to work well.
I have a Nanocom too, and they do everything the dealer can, well worth having.
If I didn't have one, I'de pay to "rent and return it" for the cost of a new one.

 

I would be interested

 

To add to my previous comment -

I would HIGHLY suggest drafting some standard instructions to go along with the device.
I've never even seen one so a basic guide would be helpful so the renter is not wasting time searching, Googling etc.
Make it as painless as possible.
The quicker you get it back, the quicker it goes back out

 

First, thank you for considering this. I've been trading PMs with a forum member about borrowing his Nanocom to program a fob. He's agreed to do so; we're working out details and timing.

I like your idea a lot.

In the case of the auto parts stores "loaning" tools and diagnostic equipment, they are big companies who have a stake in preserving their reputation and avoiding regulatory and legal issues that could arise if they take advantage of a consumer by denying a return.

In the case of personal rentals to forum members, remember that it's the person renting the Nanocom from you who's taking the risk. They send you money. What if you keep the money and you don't send the Nanocom? They'd likely have a paper trail for a small claims court claim but it likely wouldn't be worth the trouble given the hassles and court costs.

The renter also faces risk after they return the Nanocom to you. Same scenario as above. You have the Nanocom and their money. What if you don't refund them? Their recourse is limited.

I'm not trying to impugn your integrity; I'm analyzing the risk. (It's what I do for a living.) The person renting the Nanocom has no risk, other than being inconvenienced for however long it takes them to buy and have delivered a replacement Nanocom.

There are a couple of ways to address the risk to the renter.

First, the person supplying the Nanocom shouldn't send money before they've been provided a verifiable name and physical address of the renter.

Second, all rental transactions should be documented via the forum, so that (positive) peer pressure will motivate the Nanocom owner to not jerk around or defraud the renter. Personal information could be exchanged privately, via PMs, email, texts or whatever, but the fact that Renter sent money to Owner, etc. would be public knowledge.

In years past it was the ABS Amigo being shared via the forum. Sometimes those threads went cold. These suggestions may help Brandon318 serve the community and himself safely.

 

All true things. I've often wondered if there's a business opportunity to sort of PayPal-ify some sort of escrow service.

 

Please put me on your list.

I would like to rent it. Just need it for a fob and to synch a different instrument panel. All which only take about 10 minutes so the ability to rent and return is very favorable.

Thanks,

Ken