The following question appeared in another FerrariChat thread. I didn't want to hijack that thread with my question: "Hi guys, Mi partner offered me to buy in partnership a 360 Spider and I wanted to ask you guys what you think would be a fair price for this car" My question is: What are your experiences or opinions of shared ownership in a Ferrari? For discussion purposes I'm assuming a $240,000 to $330,000 market priced F430. Has anyone done it? How was used divided? How was title, registration and insurance handled.? It seems to me a plausible way for two people, who cant' get on a 430 wait list, to get into a new $240,000-$330,000 market priced F430 that would otherwise be financially unattainable. Or, would you say it's better to spend $125,000 on your own 360 and remain a 430 wannbe?
What you're contemplating is possible. Set up a company, LLC or some other entity to own the car. However, after sharing ownership in a boat with a friend, I can tell you I would NEVER do something like that again. BTW, we are no longer friends.........
i a 2 other agree, i did this with two other friends on a ski condo in colorado....never again...we are now selling the place, and are barely talking to each other...and we often went skiing together.....do not do this with a car...is a stupid idea, with a capital STUPID!!!!!..get a 360 or what ever or wait a few years and get a used 430..
My brother, myself, and a couple other friends considered doing something like this regarding a car about a year ago. The car in question was a "one of", and it was something we all wanted, but due to the fact that there was only one, it was not possible for everyone to own their own copy, even with patience, or waiting on a list for what could be forever. This was also not a car that would be street driven, and would have been for show use only. We had a great plan. All four parties live in different areas, and thus have different climates. We were able to come to an agreement on a schedule of where each potential owner would keep the car for 3 months, then pay to ship to the next person, so besides the initial buy in, cost of ownership was 25% of the annual insurance at a said value policy, and @$1,500 to ship it to the next group owner. Great idea, but one problem. We were outbid at the BJ auction last January, and did not get the car. (Our limit for the car was $200,000. Not an F-Car, but close enough in price to what you are thinking of.) The plus side is we all still talk to each other, and we already have a system in place in case this car (or something that we all agree to) comes up for sale again. Best of luck.
Shared ownership is very common in the aviation world. I had two partners in a Piper Arrow years ago and it worked just fine. The key was having partners that 1) you could trust 2) had the same outlook and habits regarding maintenance 3) were proficient and polished in their flying skills 4) wanted to use the plane at different times than each other 5) were about the same financial status. However.......I wouldn't consider it for a car AT ALL. It's a whole different world with a car. The only time this might work is if you're going to buy a car as a museum piece or as an investment, where no one drives it. Even then it would have to be with just the right people and just the right situation. Otherwise, just buy what you yourself can afford to own.
Ask yourself this question. Would you consider sharing your girlfriend/wife? If the answer is "no", do not share your Ferrari!
Not really. Two swinger couples could probably share spouses with no problem but sharing a car is a completely different thing. Arguements arise over everything. Especially on a car like a Ferrari that's more prone to minor problems. Say Person A. wants to take it to the track and Person B. gets angry. Or Person B ruined the clutch in the car by driving the hell out of it. Person A wants him to pay even though their agreement says they will split all costs. See what I'm saying? Sounds like a good idea but it'll turn into a disaster. Sharing does not work in this world most of the time.
I know of a group of guy's (3) who jointly own three-five cars which they rotate on a monthly basis. They set up a company for the ownership lease. Some of the cars are a 430, Murci, SLR, Z06 and at one time a CGT (it was sold). They trades for new cars regularly and have established relationships with all the dealers. Also, they rent a track for a day and track the cars. If you are a car lover, it really is a terrific set up. You get to experience (track & personally use) the best cars on a regular basis.
