OK, say you had several good friends who were car enthusiasts--dependable upper-middle class car nuts that you really trust and like, with understanding spouses. Say you set up a formal partnership or corporation.

Each member helps capitalize it equally, and you use the capital to buy, maintain and insure (1) a fleet of nice cars, like an RX-8, a 350Z, a G35C, a 330i, a MINI S, an STi, etc., or (2) maybe just one incredible car, like a Ferrari 360 Modena.

Now, the written agreement would spell out the details, but the basic idea would be (1) with the fleet, each person would have one of the cars for X number of weeks, then everyone would swap and drive another car for the X weeks. With (2) the supercar, each member could drive it X weeks, then pass it on to the next member. There could be drawings to make the assignments random, and individual members might be able to swap dates or cars between with each other.

The agreement would include buy-in and buy-out options for people joining or leaving the program, and spell out each person's rights and responsibilities, etc.

Obviously, there could be some big problems and ill-will arising out of the system, but with the right people and the right agreement, it might actually work. The members could drive a different cool car every month or two, or even get to drive a supercar for some time each year.

Anyone ever hear of such a thing? It just occurred to me the other day.

I wouldn't time share a property, and I wouldn't time share a car.

There is something similar in the SF Bay area. Several high end cars and you buy in.

Cool. I'm not sure I'd do it myself; I was just wondering if anyone was doing it.

It is very expensive. I think they have a Vette, Ferari and vintage MG. You buy in then reserve weekends or days.

And on my weekend, it snows.

Goes along with never lend money to friends, someone is bound to get screwed!

It would never work.
Who pays for insurance? If it's an equally shared expense, what if one member gets a reckless driving ticket and thus causes a considerable increase in the insurance premium for everyone?
What if degrees of anality differ? Does everyone in the group agree to shut doors using their elbows, not scuff the doorsills, not eat or drink in the car, not transport snotty-nosed leaky children, shedding pets, or mothers-in-law wearing cheap perfume?
If a car is damaged while in one member's possession, does he/she assume all liability for the costs of repair or is that also spread among the group members?
If the car must be serviced during one member's allotted time, does he/she get to make up that time when the car is fixed, thereby impinging on another member's planned time with the car?
Do spouses, significant others, teenaged children, or family friends get to drive the car?

It just sounds like a plan that would eventually destroy friendships. In a perfect world it would be great, but the pitfalls are just too numerous.

It would never work.
I agree with all of that, and yet a well-written partnership agreement would address each of those issues and even prevent some of those problems from arising ... but ... I still think it would be very risky.

I have found that there is no way to possibly write a contract that covers every eventuality. And even if it did, someone will eventually violate his/her terms of the contract in the eyes of one of the other members....

Member A: "When I picked up the Elise from you, there were cookie crumbs on the floormat and the gas tank was empty!"
Member B: Well what am I supposed to do? The wife got held up at her hair weave and I had to pick up the kid from day care. Just be glad that cookie crumbs were all he left behind! Damn, that car sure can take corners."

Seems like it would be better to just rent a Viper, Ferrari, or Lambo for a day or two now and then. You get your fix, and you don't have to worry about your dropped french fries.

This would only work if all the cars were beaters... instead of the list you came up with, how about a list of 1980 or older cars, and can't cost more than 1k each. Then ya, I can see that happening. I'll be driving that Edsel this week thank you very much... next week, it's the Pinto, and the week after that, the awesome DUB special edition RX-2. Gotta keep it in the family.

This would only work if all the cars were beaters... instead of the list you came up with, how about a list of 1980 or older cars, and can't cost more than 1k each. Then ya, I can see that happening. I'll be driving that Edsel this week thank you very much... next week, it's the Pinto, and the week after that, the awesome DUB special edition RX-2. Gotta keep it in the family.

I get dibs on the suzuki samari and the yugo! :rolleyes:

How would they handle titles in a club like this? I suppose all the cars could be held by a legal entity such as a corporation. But what happens if a cop pulls you over and wants to see the registration?

And if each member ones one car and they rotate driving them, you would be driving a car registered to someone else. Explain that to a cop.

This is exactly how some flight clubs are set up - the 'company' owns the vehicles, and people reserve them for (hourly/daily) fees that cover the financing and the maintenance.

It's a business thing, if properly run it won't affect friendships. People can buy in for an initiation fee + dues + rental fees. If this can work for a club with a Beech Baron, Piper Saratoga, Piper Archer, Cessna 182RG, and two Cessna 172s, your selection of cars is definitely doable.

I'm inclined to agree with the idea of just renting an exotic, though. Less overhead and liability.

It would never work.


Who pays for insurance? If it's an equally shared expense, what if one member gets a reckless driving ticket and thus causes a considerable increase in the insurance premium for everyone?
What if degrees of anality differ? Does everyone in the group agree to shut doors using their elbows, not scuff the doorsills, not eat or drink in the car, not transport snotty-nosed leaky children, shedding pets, or mothers-in-law wearing cheap perfume?
If a car is damaged while in one member's possession, does he/she assume all liability for the costs of repair or is that also spread among the group members?
If the car must be serviced during one member's allotted time, does he/she get to make up that time when the car is fixed, thereby impinging on another member's planned time with the car?
Do spouses, significant others, teenaged children, or family friends get to drive the car?
It just sounds like a plan that would eventually destroy friendships. In a perfect world it would be great, but the pitfalls are just too numerous.

Philadelphia has had a similar program for a couple of years:


http://www.phillycarshare.org/

Philadelphia has had a similar program for a couple of years:
http://www.phillycarshare.org/
But that's just for people who need basic transportation and don't need to own a car full-time, right? I'm sure these folks couldn't care less if the car is door-dinged as long as it runs reliably and gets them where they're going without crapping out.

I assumed that Hard8 was proposing a club that would provide higher-end performance cars to its members to use for purposes OTHER than basic transportation; it would in effect allow members to enjoy the part-time recreational use of a sportscar that they could not otherwise justify paying for on their own.