Anyone ever bought a partial car share (advantages / disadvantages)?

i co owned a 355tb. if u are a nit pick car freak, care about mileage, etc - sharing is not for you.

 

That friendship generally becomes kaput in short order.

Carol

 

I am personally attached to my Ferrari, sharing her would be the same as wife swapping IMO.

 

Interesting idea. There's a company in San Diego (guy's on f-chat actually) that's a club that provides timesharing for exotics, although their pool of cars isn't huge.

I wouldn't want partial ownership, due to the liability for someone else's less-than-careful driving habits, resale decisions -- i.e., when do you sell and for what price?

I think it has to be centrally managed, where you pay a membership fee and it's determined what days you get the car, when the car will be sold or turned in to the leasing company, etc.

Insurance is a good question -- I wouldn't want to pay for the lousy driving record of someone else in the club. Maybe Farmer Dave could comment on this. The liability of someone having an accident - and taking out a pedestrian - in a car I partially own would be enough for me to reject the idea. If the club owns it, I'd still want to be insulated from the liability. This is my biggest concern.

The mileage thing wouldn't concern me - I'd imagine the car wouldn't be kept for posterity, just used up.

 

works great if you have a closed end lease. beat the **** out of it, track it, and send it back.

 

Well....

If there was a market for it......you'd see several companies doing it succesfully and long term.......in fact........if it made sense.........you'd have a slew of replies here stating satisfactory experiences regarding it.

 

I think it would be great on an very expensive car like a McLaren F1 and if you have really close rich firends. You would have to go through evvvvvvverthing little detail on cost, milage, driving days and styles, insurance, selling it, time keeping it, buying out others that want out after a certain time, maintanience and every other little detail you could possibly think of. Then come to an agreement and draw up a solid contract that cant be backed out of and go for it. When it comes to selling it maybe something like 5 friends and it can only be sold if 3 agree to or if one wants out the other 4 have the option to buy his part, ect.
I'll never be able to get a F1 so this is my only hope someday

 

I will make room in my garage for a f50, but you will have to leave the keys. lol James

 

I think those car club things would make sense if that's what you're in to. $14K per year(or whatever it is) and it becomes a time share kind of thing. You've got a choice of what car you reserve and drive. It probably works out to be cheaper then buying new and taking a whack on that.

 

Not for me.

When you go to lunch with a group and every one puts in what they think they owe, the pile of money is ALWAYS short.

Now imagine that with a Ferrari...

 

Furthermore, the biggest problem with a straight-up "timeshare" of a single car is that time is not equal. Sure, everyone might have their highschool reunions of different days, but weekends > weekdays, and summer/holiday weekends > any other time.

So all's well and good for random Tuesdays during the winter, but what happens on July 4th weekend when everyone wants "their" Ferrari?

nlh

 

hmm....isn't that kind of what a lease is anyway? You're "sharing" the car with the bank

 

Except the bank doesn't drive it/beat it/wreck it.

 

Any sharing of any asset will sure to cause an end in a friendship.

Baaaaaad Idea, unless you want to lose your friend and your interest in the asset.

 

I did that for 2 cars w/ different friends, once in college days for Audi Quattro, second in 1990 for RX-7 convertible. I didn't have any problems. We all owned a car, and wanted something different for seconds but couldn't afford it.

Just make sure when each person will be responsible for a car (by a day, a week, a month, etc.), how to pay for a car & insurance, determine & agree where a car will be kept, and most important, be comfortable w/ people you are sharing with. It was almost like renting a car to me. We ended up selling these cars w/in 3-4 years. One of the group member bought RX-7 convertible.

We knew each other quite well, and we hang around a lot then, but still took several meetings to decide everything before going for it.