Sharing a Ferrari

People that can afford a $300K car, are not the kind of people who need someone to share the costs with.

 

I'd rather share my wife than share my Ferrari.

 

I tried it 28 years ago. It didn’t work out. Can’t you afford the car on your own?

 

There is as fellow here in Dallas that shares ownership of a couple of cars with another.
Everything seems to be working out fine.
I guess it just takes the right people.

 

A friend of mine shares ownership of a $75k motorcycle with a friend. The important thing is the relationship of the owners.

 

"No way, I didn't break that"
"Yes you did, it wasn't like that when you took the car yesterday"
"I'm not paying for that!"
"Neither am I!"


....there goes a good car and good friendship. Please let us know if you decide to go this route so we know never to buy any car you try to sell.

 

If money is tight like that you're better off just renting it out a few times a month. I live here in miami and my buddy is always traveling for work, he leaves his aventador with a large agency here and he gets $1500 per 50 miles they put on it, he got like $50k+ last year he told me. If you finance a car renting it twice a month should be more than enough to help you out if you need it.

 

I would check with your insurance agent if you decided to rent out the car. I know in Massachusetts my current policy would not cover any accident involving a person who rented the car. I guess I could probably obtain such insurance, but I'm sure it would be much more costly than my current insurance. Along those lines, a couple years ago my insurance company sent all policy holders a letter warning them that their current policy did not cover them if they were working for Uber. And from what I've read, apparently Uber's supposed $1MM policy doesn't cover you either.

 

What an absurd comment.

 

What an absurd comment.

 

Um, No and No.

 

a couple of my Fiat buddies and I talked about this year's ago... just never quite got up enough steam and then I decided they were taking too long so I bought my own. one of the others bought his own Ferrari a few years later (after being foster dad to my 308 when I was on an away project)and another of the 'prospects' now has a very nice Maserati as well.

 

What? No.

 

Absolutely not. I do not want to be on the hook for what another adult might do. And if you've got money, you're the one people will come after. Even if you weren't there.

 

Nu uh.

 

I agree it depends on the relationship and agreement between the people.

A lot of people have their cars in other people's garages. I wonder what it is about ownership that changes things?

My ZR-1 is practically my father in-law's since he cleans, services, and technically insures the car. Both of our names are on the title, even though I paid for it all. He thinks of it as my car, but considering his role in ownership, we definitely share it.

Now I know it's not a Ferrari, which leads me to believe that money is the biggest obstacle (duh). If the main reason for sharing a car (Ferrari or not) is to spend less money, it is probably a bad idea. If money isn't a huge issue, go for it. But at that point, just buy your own.

 

Liability.

 

sounds like another word for money.

 

There's money, like money for repairs and maintenance, and then there's money like being sued for millions.

 

It can work. My race car, pick up and trailer is owned by my racing buddy and I.
We keep an excel file where we each record expenses incurred. We share insurance cost (both listed on policy) and all other expenses.
We are thinking of adding a F430 Challenge so we can take two cars to the track.

Kai

 

Completely different situation. You're talking about a controlled environment where no driver is exposed to the general idiocy that is every public road.

 

Why is his name be on the title if he is not an owner nor lienholder?