Joint Ownership of Race Car
#16
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You would have to be a Pollyanna to think this kind of thing would have any chance of working without a detailed formal agreement.
Scott
#17
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Mark Kemp and Mark Bowman have been doing this for years with their 996 Cup. You might give one of them a call if you know them from PCA circles. Or I can put you in touch, let me know.
#18
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Thanks Rob. I'll give Kemp a call. How's racing with the Prancing Horse?
#19
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This can't possibly have a happy ending. Unless neither one of you is the driver and it's a business venture to launch someone else's career. And even then.....
#20
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Well, the problems happen when what one person views as "fair" is not the same as what the other person views as "fair". In my experience, most people do not define "fair" the same way when it comes to spending money.
You would have to be a Pollyanna to think this kind of thing would have any chance of working without a detailed formal agreement.
Scott
You would have to be a Pollyanna to think this kind of thing would have any chance of working without a detailed formal agreement.
Scott
I know two local guys who do it with a spec miata without trouble. They are going on 8 years of sharing it. Maybe it's something in our water?
#21
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You and your friend might want to do a dry run by marrying the same woman. See how that goes.
You'd probably have a lot of the same issues mentioned in this thread.
You'd probably have a lot of the same issues mentioned in this thread.
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#22
Former Vendor
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my guess is that its a rarity for it to work.
dude drives the car for 3 days, no incidents, but the use just puts the axles, trans, etc. on the edge.
2nd dude jumps in and 2 minutes in, the axles give way, the car goes off and its 15k in damage.
who's responsible?
if you were to agree to full and timely servicing of all parts based on usage, ie X hours and you owe a set of axles, trans, rebuild, etc. then sure.
and thats assuming you can actually compute actual costs for stuff.
you go in to replace axles and realize that A, B and C also need changing then...but dude#1 is a cheapie and says 'eh, why bother', and dude #2 is a safety prude and wants the trans rebuilt at 25 hours, not 35...
the upside is if all goes well, great.
but its always those situations when crap goes wrong that puts you in a big bind.
dude drives the car for 3 days, no incidents, but the use just puts the axles, trans, etc. on the edge.
2nd dude jumps in and 2 minutes in, the axles give way, the car goes off and its 15k in damage.
who's responsible?
if you were to agree to full and timely servicing of all parts based on usage, ie X hours and you owe a set of axles, trans, rebuild, etc. then sure.
and thats assuming you can actually compute actual costs for stuff.
you go in to replace axles and realize that A, B and C also need changing then...but dude#1 is a cheapie and says 'eh, why bother', and dude #2 is a safety prude and wants the trans rebuilt at 25 hours, not 35...
the upside is if all goes well, great.
but its always those situations when crap goes wrong that puts you in a big bind.
#24
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They do give cool trophies though and I am leading the points race. Last year the champions got a custom made BRM watch with their car colors and car number integrated into the design. Really hoping they do that again!
#25
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Any agreement between two people around something as unpredictable as a race car has got to start with both people not giving a **** about the potential losses involved. If you want to put together an agreement to protect yourself from losses associated with someone else's behavior in a race car then you are just kidding yourself. If you don't trust your partner to do the right thing by you AND if your not in a position that you don't care about any potential losses, then do yourself a favor and don't do it.
#26
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Seems like the only reason you'd want to do this is that it comes down to money. As in, you probably can't afford it to begin with. Thus, when the problems start, it will come down to money again.
#27
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Any agreement between two people around something as unpredictable as a race car has got to start with both people not giving a **** about the potential losses involved. If you want to put together an agreement to protect yourself from losses associated with someone else's behavior in a race car then you are just kidding yourself. If you don't trust your partner to do the right thing by you AND if your not in a position that you don't care about any potential losses, then do yourself a favor and don't do it.
#28
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You'll have more fun buying 2 cheaper race cars, and racing together - like 2 944 Spec Cars in my sig ![Wink](https://rennlist.com/forums/images/smilies/wink.gif)
Neal (yellow car) & I (orange one) do share my car for a full enduro season, but on a rental basis. I own and maintain the car, he pays for the seat. That seems to work out well.
![Wink](https://rennlist.com/forums/images/smilies/wink.gif)
Neal (yellow car) & I (orange one) do share my car for a full enduro season, but on a rental basis. I own and maintain the car, he pays for the seat. That seems to work out well.
#29
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You'll have more fun buying 2 cheaper race cars, and racing together - like 2 944 Spec Cars in my sig ![Wink](https://rennlist.com/forums/images/smilies/wink.gif)
Neal (yellow car) & I (orange one) do share my car for a full enduro season, but on a rental basis. I own and maintain the car, he pays for the seat. That seems to work out well.
![Wink](https://rennlist.com/forums/images/smilies/wink.gif)
Neal (yellow car) & I (orange one) do share my car for a full enduro season, but on a rental basis. I own and maintain the car, he pays for the seat. That seems to work out well.
#30
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I think sharing a race car may work if both parties can easily afford to buy and run one individually.
The "fair doctrine" works if you're in good financial shape.
Obviously, similar driver levels etc helps.
The "fair doctrine" works if you're in good financial shape.
Obviously, similar driver levels etc helps.