Loser poser deal of the month

Could you imagine being the next sap to own a car like that after a year or 2 of that sure abuse!?!

 

That's one he!! of an "investment opportunity" (as they put it) - and I mean that in the most literal sense.

 

Without looking closely at it, I think it's a good idea. If you're the type that needs to be seen and wants to say you own a Ferrari, then why not? Not saying I would do it but with 21 bids someone must be interested I think the concept could be massaged to work..........

 

Fellow F chatter did a similar proposition:

http://www.ferrarichat.com/forum/showthread.php?t=38376&highlight=share

 

Well you know it will get driven, the fractional owners will not let it sit.

I wonder how they figure the maintenance cost.
For a 1/4 share is it $250 x 12= $3000 or $250 x 3=$750?
It seems that at $3000 X 4 owners making it $12k per year, which if used would make it the best maintained 348 on the planet!!!!!
Now at the $750 x 4 making it only $3k per year, you may be a little on the low side at 15k mi. per year.

I know there are many people who do this with planes and I know people who actually do this with horses, so it is not totally out there.

I sure would not be happy if my month came up and it spent the entire time in the shop!!!!
Also, how would you figure the months, who would want their month in the winter.
I did not look real close, I guess these things are addressed.

 

Are you kidding me? For one thing that car is going to go through hell with some drivers that are going to learn how to drive a stick with this, smokers, hot-rodders, etc. For another, there is a very short driving season up here in Michigan and I'm sure your 90 days/yr are not June, July and August. For that kind of dough you could own an ENTIRE 308....and not be strrrrretching the truth.

 

Definitely, I don't want to imagine the state of this 348 in the next year or 2 and commisseration to the next owner after that. It will certainly go through loads of hell with those share partners.

 

Some guy in Southern California was running an ad in the LA Times for the longest time trying to sell a 1/3 interest in a 355 for 50 grand.




uhhh, yeah. right.

 

Hey like has been said on the board before, "You miss 100% of the shots you don't take."

 

This isn't really a share ownership. If you go to their site, it says it is for a two-year prepaid lease.

Very sweet deal for whoever owns the car, but it would suck for the shareholders. $17,500 x 4 = $70,000 up front plus $250 x 4 = $1,000 per month in maintenance plus they get the car (in whatever sad condition it will be in) at the end of the two years.

Of course, you just know that the first person to get their turn will likely wreck it or tear it up, so second in line would likely not get their turn on time. Does anyone really think that if one user blew the engine that the owner would put 20K into a replacement? If the car is unavailable during the normal scheduled time, do the "shareholder" get a refund for that period? If the car is wrecked, do the shareholders get the proceeds? Way too many things to go wrong.

A joint interest in a Ferrari might make sense for a close group of friends, but this is economic disaster waiting to happen.

 

What a beautiful salvage car opportunity after a couple of years!

 

LOL....you hit the nail on the head buddy!!

 

There is a company here in the Chicago area that does the same thing. www.exoticcarshare.com

 

Might be the same party. The LA Times ads were running through the summer of 2003. I remember seeing them prior to acquiring mine. IIRC, only a 355 was offered- no 360 was mentioned. Either way it's "run don't walk" for numerous reasons mentioned above.