Can a co-own car scheme ever work?
Discussion
I'm toying with the idea of something fast (911 turbo, that type of thing). Problems are that I have no garage, have no mechanical skills and wouldn't be able to drive (even if I wanted to) every day.
I'm thinking about approahcing my BIL about a 50/50 scheme whereby we buy it together, we store it in his garage, we insure it on a classic/limited mileage policy and then use it on alternate weekends.
My main reason for wanting to do this is to share the costs/hassle of such a [super]car.
Anyone been there/done that?
I'm thinking about approahcing my BIL about a 50/50 scheme whereby we buy it together, we store it in his garage, we insure it on a classic/limited mileage policy and then use it on alternate weekends.
My main reason for wanting to do this is to share the costs/hassle of such a [super]car.
Anyone been there/done that?
Sounds a bit risky to me.
The car would have to officially belong to one of you. That person would have to insure it and would be liable for the car all time other than when the second driver was driving it.
Your relationship with BIL will have to be solid. Doing things like this can put a lot of strain on you. People don't always agree on things and compromise can sometimes be all one way.
Go into it with your eyes open.
The car would have to officially belong to one of you. That person would have to insure it and would be liable for the car all time other than when the second driver was driving it.
Your relationship with BIL will have to be solid. Doing things like this can put a lot of strain on you. People don't always agree on things and compromise can sometimes be all one way.
Go into it with your eyes open.
It'll not work. Me and my mate shared a Suzuki jeep - he paid for the storage and I made running repairs when it broke and towed it around.
I'm sure he thought he paid too much for the storage and I was getting sick of allways having to repair it.
At least we had the sense to sell it and split the proceeds 50/50, but that's a lot easier to do with a car worth £500.
Still best mates though.
I'm sure he thought he paid too much for the storage and I was getting sick of allways having to repair it.
At least we had the sense to sell it and split the proceeds 50/50, but that's a lot easier to do with a car worth £500.
Still best mates though.
Co owning a car is like making love to a beautiful woman...
[IMG]http://i20.photobucket.com/albums/b24[/IMG]
>> Edited by couger on Saturday 29th October 17:18
[IMG]http://i20.photobucket.com/albums/b24[/IMG]
>> Edited by couger on Saturday 29th October 17:18
couger said:
Co owning a car is like making love to a beautiful woman...
[img]http://i20.photobucket.com/albums/b24[/img]
Where did you find that picture of me!
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