James May: supercar joint ownership?

http://www.telegraph.co.uk/motoring/columnists/jamesmay/7928599/Its-high-time-the-supercar-syndicate-took-off.html

James May said: The burden of ownership that comes with an F40 must be enormous, and enormously expensive, which would then generate an obligation to use it. No one of sound mind would want to drive an F40 very often. But for maybe 10 special days every year, well, why not? I believe this might be possible. We move now to the world of light aviation, where ownership of an aeroplane by a small syndicate is a normal way of doing things. [....] Strangely, though, it doesn’t seem to have caught on with cars. I know there have been supercar clubs but I don’t think they can be that popular because I’ve never met anybody who’s in one. However, a group of four or even 10 like-minded people, preferably who already know each other, could set up a car syndicate quite easily. [...] In fact, when I think of it like this, I’m amazed that anyone owns a supercar outright. People who spend £150,000 on a Ferrari could actually be owning a stake in four or five interesting cars, do just as much driving, and enjoy greater variety. More significantly, the syndicate approach means more people could enjoy the old 911 or old Maserati experience but without lying awake at night worrying that it’s about to ruin their lives.

So....who's insurance covers it when crashed and burned?

seems like Ferarri's have short lives

http://www.clubsportiva.com/

already been done. James May really is capt. slow.

ignorant wrote: http://www.clubsportiva.com/ already been done. James May really is capt. slow.

He knows this is not a new idea..

James May wrote: Strangely, though, it doesn’t seem to have caught on with cars. I know there have been supercar clubs but I don’t think they can be that popular because I’ve never met anybody who’s in one.

Seems to me I saw a video of James May talking about this and then showing an underground ring that did do something like that. Can't find it though so maybe it was a dream.

i think there is a reason that it hasnt caught on with cars, there is a certain appeal in car ownership. it likely did catch on with airplanes out of need, i imagine those little buggers are much more expensive to buy and maintain than even ferraris (albeit i know nothing at all about aviation except that i dont care about it). i would rather own a desirable car, sharing it with your friends would feel like wife-swapping; exciting for some but repugnant to me.

the whole point of getting a cool car is that it's your cool car. i like the wife swapping analogy..

ignorant wrote: http://www.clubsportiva.com/ already been done. James May really is capt. slow.

We have a similar place in Chicago.

http://www.curvyroad.com/

I agree it sounds like a good idea. But like GrTechGuy said, when someone stuffs it into a wall, who pays for it? I could see it working if it was more like one person owned it, and people rented it.

I would agree the insurance would be the difficult bit. This model works for planes simply because of the additional training involved in order to fly one not to mention the typical consequences of failure should you "stuff" a plane.

Finding a company willing to cover a single car (or small collection) that would be driven by a number of drivers would be difficult. The only way I think it might work would be using rental insurance rules. You buy into a co-op that allows you to rent cars from a collection. Then you buy insurance on an as-needed basis or cover it under your general policy (my std insurance covers me when renting cars - my agent specifically told me not to bother buying the supplemental insurance).