Fractional ownership - how?

[Burba]

In the process of trying to sell my 550

I only need to sell as the bill for my wedding has crept up to double the inital projection

As a side thought, and considering the market, 'could' you set up a fractional ownership on the car (therefore paying back the equity I've got tied up in the car) and then therefore spread the cost of financing across owners - with owners being given time allowance (ala clubs such as Ecurie and dependant on numbers).

I'm stumbling on the issue of it breaking whilst in the responsibility of one owner - how do you get around this?

Any ideas welcome - if it's a sound idea, I may give it more serious thought!

[steelej]

This won't help but surely you should be cutting back on the wedding spending instead of selling the 550

John.

[jackyum]

Keep the car and get shot of the Mrs to be

[LittleBro]

Too many emotions in it for it to work IMO (I'm talking about the fractional ownership).

How you you feel if your pride and joy got ragged all weekend then returned to you? Gutted, I'd say. If you want fractional ownership, I think the better route is to use a company already established rather than trying it with your existing P&J.

[TonyHetherington]

I know a couple of guys that do it and so long as they set some strict ground rules it's worked really well indeed, so don't be scared of doing it.

[MitchT]

Once you're married your OH will own half of the 550. Point this out to her and that you'd like her to pay up front for her half. Put the relevant proportion of the proceeds from said transaction into the wedding pot. Problem solved!

[andymc]

what about fractional ownership of the missus?

[Burba]

Steelej - been trying to think of every option to keep the 550, but i'm drawing blanks at the moment

jackyum - Mrs is too good to lose
littlebro - i was thinking the individual buys equity into the car also - meaning if it goes belly up, they lose out too, hopefully giving them some sort of ownership!
tony - thanks for the insight, hope someone comes out of the woodwork and volunteers!
Mitch - considering how much she's also spent on the wedding, i don't think it's an option!
andymc - wait, let me run that one by her.... hmmm lol!