Fractional ownership

[pdisme]

What do you all think of the fractional ownership thing? Check this article out:

http://money.cnn.com/magazines/fsb/fsb_archive/2007/02/01/8399941/

It mentions a placed called Collexium where for $15k initiation fee and then $15k/year, you get 30 days of car use per year from an assortment of two Bentleys, two Ferraris, two Lambos, an Elise, Ford GT and some others. It's in south Florida somewhere.

Really not that bad a deal for most as exotic cars are typically garage queens anyway and you certainly lose more than $15k/year for the first few years on depreciation anyway. I drive mine much more than 30 days/year and want instant access but some people this could work quite well for.

[Minch00]

There was a place based in NY that was supposed to be opening a branch here in Florida, it started in Europe, and the general idea was that you would buy "Points" (yearly fee was somewhere between $7k - $10k depending on the number of points you wanted), and you would spend points to use cars, and the amount used would vary on season, day, weather, type of car, etc. So if you wanted to rent a 911 turbo in the middle of December on a Tuesday, you'd spend maybe five points. A Lamborghini Murcielago in June on a Saturday would be 20 points.

Was a fantastic idea, just never had the $10k to pony up.

[pdisme]

That would be Gotham Dream Cars, I thought they just did daily rentals, $2500 for a Murci.

[zzzzdoc]

I e-mailed them. They wrote back saying that Tampa is near the top of their list of expansion cities, perhaps by the end of this year or next year. They're looking for present exotic owners, thinking that we won't burn rubber going out of the location.

[pdisme]

What they don't know won't hurt them. :) If they were smart they'd install some kind of Traqmate-like device to record gps and g forces, lol.

[Minch00]

That would be Gotham Dream Cars, I thought they just did daily rentals, $2500 for a Murci.


No that's not who I was thinking of. I'll have to find the Car and Driver with the ad in it.........

[pdisme]

Now here's a car club that I'd join, they include a Zonda. :)

http://www.easier.com/view/News/Motoring/article-103216.html

[Infamous]

I always thought about doing this but I need more than 30days. I am also prone to modding a car like crazy so it wouldnt work for me.

[AgentTripleX]

I was going to do this a couple years ago with three partners, but one dropped out so we were short on funds and got tied up in day to day life. I got various feedback from exotic car owners. Some said they would be down to join a club like this to have access to more cars, but others said they would rather buy their own exotics. Not sure how profitable such companies are. There is one in San Francisco that has been growing over the years, but it's been a progression for them to get all the hot and latest cars. They are still growing.

[pdisme]

Yeah, I think fractional ownership is better for toys, like karts, right Vroom? :)

[Matt]

If i'm buying a lamborghini, i want to own the whole thing and be able to drive it whenever i feel the urge... every day.

[Lasombra52]

In my opinion, owning the exotic wouldn't work. That's why renting them works. Most people that can afford an Exotic, aren't going to want to Timeshare their vehicle. Like Matt said: "If i'm buying a lamborghini, i want to own the whole thing and be able to drive it whenever i feel the urge... every day."

The renting part works great due to the fact that most of the time your selling a dream to someone that can not afford it. MUCH larger clientele, than the people that can afford an exotic. That's why it's easy (HAHA) to rent an exotic in Miami, or Las Vegas.

They are renting dreams to people for a few hours.

My opinion, this fractional ownership wouldn't work, at least not in the business model that I'm thinking. Maybe if I had a better explanation of how I all works, than that might change my mind.

[pdisme]

The exotic rental business will continue to work great as long as there continue to be ten year high school reunions. :lol2:

[pam202]

The exotic rental business will continue to work great as long as there continue to be ten year high school reunions. :lol2:


lol so very true

I really would need total control and would not do any sharing I dont plan anything everything is always last minute, but I can see how maybe for some it would work

from a business stand point rentals are way easier and seems more profitable

[zzzzdoc]

The problem locally is that I would think that you would get a reputation as the ultimate poser.

I would think you would get much more respect for driving the same exotic each time out to dinner than driving a different one. Everyone who knows you would know they aren't yours.

Of course, it would be fun to drive all those cars.

[pdisme]

The problem locally is that I would think that you would get a reputation as the ultimate poser.

I would think you would get much more respect for driving the same exotic each time out to dinner than driving a different one. Everyone who knows you would know they aren't yours.

Of course, it would be fun to drive all those cars.

My problem is the owner of O'Briens Pub on Dale Mabry knows I regularly bring my Lambo to his establishment so he tells girls its his knowing it will be there regularly just like him. :lol2:

[tomf-1]

I was going to do this a couple years ago with three partners, but one dropped out so we were short on funds and got tied up in day to day life. .

for starter, how many cars would be adequate for a market like SF?

[Shawn]

I have no idea, but this one has 19 http://www.chicagoexoticrentals.com/fleet.html , but many are just different colors/trims of the same car. So maybe like 5 to start? I would just be worried about people renting a Gallardo and using nothing but the launch button and such. Maybe you can pre-order clutches and get a bulk discount :biggerGrin: