Looking at joint ownership of car for trackdays - pitfalls?

[Paulburrell]

I am tentatively looking at the possibility of selling my car and buying an RS jointly with a friend. The car would principally be for trackday use. Anyone else been down this road with first hand experience of the potential problems/pitfalls etc.. Any advice gratefully received.

[B15TT0]

Sounds like a quick way to lose a good friend if you ask me.

One of you crashes it so it's off the road for a bit getting fixed - the other one isn't happy. Rifts develop...

On a cheap car i think it could work, but with an RS it could get awkward?

[Davey S2]

Simonspider is doing this with another PHer with a new Murcielago LP640. I believe he also jointly owns a 360 as well.

Lots of things to think about though.

[Conian]

Weren't you Princess Diana's butler?

[Paulburrell]

Conian said:

Weren't you Princess Diana's butler?

Sssshhhhh!!!!! Don't tell everyone, I'll never live it down.

PS The "friend" in question might just be HRH Harry, you never know.

[K Man S]

Why not try it out with a £6k Westfield and see how you get on with that first

[Paulburrell]

K Man S said:

Why not try it out with a £6k Westfield and see how you get on with that first

My current car is a GT3 which would be sold if the prospective venture were to become a reality, so the value of the potential purchase is not the main consideration. The friend in question also has a high spec Porker and we both see our cars sitting in the garage for large chunks of the year, only really coming out for trackdays. I thought it might be a more cost effective and efficient way of doing trackdays in a track based Porsche.

[richad027]

If you look on Ben Lovejoy's Nurburgring website,he gives full details of how they fund and operate their shared ownership golf gti. I think it makes a lot of sense for dedicated ring toy, not so sure about an RS though.

PS I think you will finds an RS is perhaps just a teeny weeny bit faster than your MK1, thats all

Richard.

[London GT3]

In 1989, two work colleagues and I couldn't each afford to go racing individually. We bought a car between us (a Golf GTi) and raced for two seasons. We never had a bad word between us. All costs (incl damage etc) were split three equal ways. If the car was written off, we all lost our stake although I am pleased to say it wasn't. We selected races from the calendar at the beginning of the year in rotation.

My advice would be that if you are good friends, do it and enjoy the shared experience. If you want to be able to carve everything up so that each party pays for what they have used, then it sounds like it might end in tears.

Good luck.

[Paulburrell]

richad027 said:

If you look on Ben Lovejoy's Nurburgring website,he gives full details of how they fund and operate their shared ownership golf gti. I think it makes a lot of sense for dedicated ring toy, not so sure about an RS though.

PS I think you will finds an RS is perhaps just a teeny weeny bit faster than your MK1, thats all

Richard.

Thanks for the link Richard. Yes I know the RS is going to be that much faster but what the heck.

[Paulburrell]

London GT3 said:

In 1989, two work colleagues and I couldn't each afford to go racing individually. We bought a car between us (a Golf GTi) and raced for two seasons. We never had a bad word between us. All costs (incl damage etc) were split three equal ways. If the car was written off, we all lost our stake although I am pleased to say it wasn't. We selected races from the calendar at the beginning of the year in rotation.

My advice would be that if you are good friends, do it and enjoy the shared experience. If you want to be able to carve everything up so that each party pays for what they have used, then it sounds like it might end in tears.

Good luck.

I was definitely thinking about the 50:50 route, purchase price, maintenance, consumables, damage repair etc.. Many of the trackdays we would attend together, therefore taking turns in driving. Any days attended alone would be on a swings and roundabouts basis year on year.

[steil]

50:50 works perfectly well as long as you're both comfortable with each others driving abilility. I do this with lesser Porsches (968 & 924) but also have pals with RS's (proper ones as well as the current marketing-led crop) & they're all s-u-p-e-r-b drivers that there's never any issue about driving ability/wear 'n tear etc.

You're quite correct that sometimes great cars are left in the garage rather than being used as they should, therefore it makes sense to share costs & usage. In fact I'm planning an imminent GT3 buy on this very basis - on my own an onerous cost - between two a veritable bargain!

[Paulburrell]

steil said:

You're quite correct that sometimes great cars are left in the garage rather than being used as they should, therefore it makes sense to share costs & usage. In fact I'm planning an imminent GT3 buy on this very basis - on my own an onerous cost - between two a veritable bargain!

I agree wholeheartedly and that's why I'm exploring the possibilility. Many thanks.