Track day car joint ownership
Discussion
I have 3-4 friends who are interested in sharing the ownership of a track day car. We're good friends and have done track days and euro trips together in the past, but none of us owns a proper track day car, we have 911s, M3 etc.
So would this be a good idea? Sharing the purchase, consumables and track day costs would work out much cheaper than tracking our own cars. Or will it be like one of those polygamous relationships I've seen on TV shows which seem like a good idea at the start but end up with someone killing someone else...
So would this be a good idea? Sharing the purchase, consumables and track day costs would work out much cheaper than tracking our own cars. Or will it be like one of those polygamous relationships I've seen on TV shows which seem like a good idea at the start but end up with someone killing someone else...
IMO between 2 no problems any more asking for issues as the car could be great for 1 but not the other 3 and 1 could feel the car is perfect while the other 3 think it needs more / less so you need to then find a happy medium.
More of a headache more people involved. If there is 4 of you - split into 2 "teams" IMO
More of a headache more people involved. If there is 4 of you - split into 2 "teams" IMO
Im part of a 3 way ownership. Its worked for us for the past 4+ yrs.
It helps that we are close friends though. Some things to consider;
1. Shared costs is great as it makes it more affordable for all involved, but if shared spannering doesnt also take place, that can create resentment since not everyone is contributing an equal share whilst everyone wants an equal share at the fun end of the equation.
2. In our case its great that we share because after a 40/50min session you will need at least a 30mins break or you will burn out if you do such sessions back to back. So whilst you take a break the other chaps are having fun...
3. The negative is that the car doesnt get much of a break (10mins max in pits in our case if we want to make 4 sessions each in a day), so you have to be well ahead on maintenance and develop durability and endurance in the car to allow you use the thing that hard without breaking it. Obviously that means different things to different people, but in short you will use the car more and you will be wise to know all your temps and be well in control to keep you smiling and piling on the miles. For example most ppl dont measure diff and gearbox temps or realise if they are pushing the limits running long sessions and/or allot of them.
4.Obviously with more mileage your consumables consumption will be higher, but thats offset by sharing the costs.
It helps that we are close friends though. Some things to consider;
1. Shared costs is great as it makes it more affordable for all involved, but if shared spannering doesnt also take place, that can create resentment since not everyone is contributing an equal share whilst everyone wants an equal share at the fun end of the equation.
2. In our case its great that we share because after a 40/50min session you will need at least a 30mins break or you will burn out if you do such sessions back to back. So whilst you take a break the other chaps are having fun...
3. The negative is that the car doesnt get much of a break (10mins max in pits in our case if we want to make 4 sessions each in a day), so you have to be well ahead on maintenance and develop durability and endurance in the car to allow you use the thing that hard without breaking it. Obviously that means different things to different people, but in short you will use the car more and you will be wise to know all your temps and be well in control to keep you smiling and piling on the miles. For example most ppl dont measure diff and gearbox temps or realise if they are pushing the limits running long sessions and/or allot of them.
4.Obviously with more mileage your consumables consumption will be higher, but thats offset by sharing the costs.
I tend to agree with the above, I find two of us to a car is ideal but three to a car can work, it just means as mentioned above, the car doesn't get much of a rest. The two guys I share with are probably the only two I would do it with, out friendships are worth more than the car kinda thing. We are pretty relaxed about it all, I bought the car for track days but haven't got out in it as much as I'd hoped. We started out just sharing the cost of the track day itself but as it's gone on, everyone just chips in a bit as and when the car needs work, one of them owns a garage which helps.
I would see if you can all agree on a car to start with, perhaps start with something cheap and basic then see how it goes.
I would see if you can all agree on a car to start with, perhaps start with something cheap and basic then see how it goes.
Ive done shared ownership of cars, both 2way and 3 ways. Though cars in question were all less than £1000, with very minimal modifications (lightweighting, brakes, tyres, cheapo coilovers). Worked ok, none of us were particularly mechanically minded, and all of us wanted to keep it cheap.
Id say two is best for sharing, then youre alway in the car, either driving or passengering. Three ways necessitates an awkward wait in the pits.
In the end i stopped sharing as i was getting a bit bored always being with the same guy- he also lived quite a long way away. Now i own my own car outright, and let mates drive it on trackdays with me as long as they cover their share of the costs on the day.
Id say two is best for sharing, then youre alway in the car, either driving or passengering. Three ways necessitates an awkward wait in the pits.
In the end i stopped sharing as i was getting a bit bored always being with the same guy- he also lived quite a long way away. Now i own my own car outright, and let mates drive it on trackdays with me as long as they cover their share of the costs on the day.
Hi.
I have run a syndicate for the last 12 years. It started with two of us sharing a 924 before we switched to a Radical Clubsport and the syndicate grew to 5 members.
We are now on our second SR3 with a membership of 4.
Originally I kept the car and did most of the work on it with help from another member who lives near to me.
We now have the car run by a professional team which eased my workload ( not that I minded the work ) which works well.
The membership is four and in all the years we have never had a problem.
All costs are split four ways other than the fuel used on the day as it is rare that all four members can make the same day.
We insure the car and we buy an annual membership with one of the track day organisers.
In the event that the car is damaged in accident the excess on the insurance is split four ways as it could happen to any of us.
The important thing is to have members who can afford to run the car and are sensible drivers who don’t try to exceed their ability all the time.
We have had great times over the years and hope to do many more.
One other thing as we split all costs we always have at least two members on any one day.
Costs divided by four make it all more affordable and if your members are all like minded when it comes to maintaining the car you won’t have a problem.
Enjoy it.
D.
I have run a syndicate for the last 12 years. It started with two of us sharing a 924 before we switched to a Radical Clubsport and the syndicate grew to 5 members.
We are now on our second SR3 with a membership of 4.
Originally I kept the car and did most of the work on it with help from another member who lives near to me.
We now have the car run by a professional team which eased my workload ( not that I minded the work ) which works well.
The membership is four and in all the years we have never had a problem.
All costs are split four ways other than the fuel used on the day as it is rare that all four members can make the same day.
We insure the car and we buy an annual membership with one of the track day organisers.
In the event that the car is damaged in accident the excess on the insurance is split four ways as it could happen to any of us.
The important thing is to have members who can afford to run the car and are sensible drivers who don’t try to exceed their ability all the time.
We have had great times over the years and hope to do many more.
One other thing as we split all costs we always have at least two members on any one day.
Costs divided by four make it all more affordable and if your members are all like minded when it comes to maintaining the car you won’t have a problem.
Enjoy it.
D.
It’s great to see so many positive experiences but keep an eye on all the provisos that are listed - good friends, sensible drivers, able to afford etc.
I’d also add a need for everyone to be clear, very clear, about how it will all work; who pays for what, who spanners, transports, pays for breakdowns and damage. What if someone finds they can’t make it to as many of the days, do they still incur costs? What if someone wants to take it out for a day on their own?
If all the options are clearly covered and agreed by a sensible bunch of guys then it should be doable, if you just agree to "be fair" with each other it’s a recipe for trouble
.
I’d also add a need for everyone to be clear, very clear, about how it will all work; who pays for what, who spanners, transports, pays for breakdowns and damage. What if someone finds they can’t make it to as many of the days, do they still incur costs? What if someone wants to take it out for a day on their own?
If all the options are clearly covered and agreed by a sensible bunch of guys then it should be doable, if you just agree to "be fair" with each other it’s a recipe for trouble
.Steve.
Couldn’t agree more about having everything clear from the outset.
I do all the administration for the syndicate and any large expenditure is circulated to the members and agreed before it is spent.
I pay all the bills and keep the accounts and collect from the members.
Before each season I prepare what needs to be done to the car along with estimated costs and also what upgrades might be desirable but not essential so hat everyone agrees before anything is put in motion.
I try to ensure that everyone gets as much seat time as they can which means that those who cannot attend so often due to work commitments get the lions share of track time when they are there.
All the members agree on this.
May sound like a lot of detail but it ensures everyone stays happy.
It also means when I ask for their share of expenses it is paid by return..
Hopefully see some of you out on track this year.
David
Couldn’t agree more about having everything clear from the outset.
I do all the administration for the syndicate and any large expenditure is circulated to the members and agreed before it is spent.
I pay all the bills and keep the accounts and collect from the members.
Before each season I prepare what needs to be done to the car along with estimated costs and also what upgrades might be desirable but not essential so hat everyone agrees before anything is put in motion.
I try to ensure that everyone gets as much seat time as they can which means that those who cannot attend so often due to work commitments get the lions share of track time when they are there.
All the members agree on this.
May sound like a lot of detail but it ensures everyone stays happy.
It also means when I ask for their share of expenses it is paid by return..
Hopefully see some of you out on track this year.
David
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