Car Club idea - reduced costs for owners

[sideways sid]

I'm scribbling down idle thoughts as I'm having them. This is obviously not a business plan or anything but an idea/concept for discussion. Perhaps if its positively received, I or others can try to make it happen. If not, we can all get on with our afternoon!

I was just reading about one of the car clubs, whereby customers/members pay an annual fee to buy points that they exchange for usage of cars.

It strikes me that there are many of us in London (and other cities) who own a car(s) that is underused, spending much of its time in expensive parking spaces etc etc

I reckon the model could be improved upon if structured like an investment club. I am NOT suggesting that anyone is going to get rich but I feel there is a way to reduce ownership costs for owners, and provide access to a pool of cars for existing owners, as well as paying customers.

There could be two groups of 'suppliers':
Owners of cars that could be loaned to the club to be available for use by other owners, subscribers and customers
subscribers who pay a monthly fee into the club to use cars.

Costs to the club would include storage, admin, insurance, marketing, website, maintenance, delivery & collection
Sources of revenue might include direct rentals to paying customers, film & TV appearance fees, commission on insurance costs, profit on delivery and collection charges

Certain ownership costs could be shifted from the owner to the club including storage, road tax, insurance, maintenance, MOTs

One potential problem is drivers thrashing the cars, so it would be a priority to align interests of owners and driers if possible; either by letting owners drive fast/valuable cars only after driving slower/less valuable cars without causing any damage, or give drivers some kind of no-damage discount/incentive.

Any thoughts?

[Scrambled]

........and you think this would work?

[randlemarcus]

sideways sid said:

Costs to the club would include storage, admin, insurance , marketing, website, maintenance, delivery & collection
Sources of revenue might include direct rentals to paying customers, film & TV appearance fees, commission on insurance costs, profit on delivery and collection charges

Certain ownership costs could be shifted from the owner to the club including storage, road tax, insurance, maintenance, MOTs

Fly in ointment highlighted for you.

[johnnyBv8]

I think this happens already to some extent - not all car clubs own their stock...I know of cars being 'loaned' to car clubs.

[sideways sid]

Depends on your definition of 'work'!

If I could reduce my cost of ownership (parking alone is £120 pcm - many pay much more) and still use my car when I wanted, or potentially other cars as required, it might be of interest to me...

There's not enough thought gone into it yet for me to decide if it would be a good idea though - hence popping it on here. I'm sure there are loads of problems and pitfalls.

[Urban Sports]

Shall we get on with our afternoon?

[sideways sid]

randlemarcus said:

Fly in ointment highlighted for you.

Thanks. I guessed that pooled Fire & Theft insurance costs might reduce costs, with Third Party & accident insurance passed onto the driver. I appreciate that concentrating valuable cars in one building might have the opposite effect on Fire & Theft. Should have added security to the costs!

[sideways sid]

johnnyBv8 said:

I think this happens already to some extent - not all car clubs own their stock...I know of cars being 'loaned' to car clubs.

Thanks for this. I'll investigate.

[jdw1234]

No chance I would want strangers driving my car.

If I needed the cash that much I would sell the car.

Also, it needs to be available whenever I want it. Otherwise I would use public transport.

[Porkie]

Urban Sports said:

Shall we get on with our afternoon?

yep!

[mikebristol]

You can rent your car out here. www.whipcar.com