fashion cars
Maybe outsourcing and time-shares aren’t so bad after all. Outsourced living is a lifestyle of convenience, and for the terminally time-strapped, it is a necessity. In the context of luxury and exotic cars, time-sharing is a very attractive alternative to ownership. For years, aircraft, property and yachts have been hot items for time-sharing; it’s only logical that automobiles would catch on as well. Actually, it’s curious that this concept hasn’t become popular much sooner.
A number of luxury car clubs in major cities are making up for lost time. Most function as members-only organizations, while one takes the next step and offers fractional ownership. Members can reserve cars for anniversaries, birthdays, and celebrating promotions or just for smart consumerism. Even if you own a high-end car outright and are not making payments, yearly maintenance, repairs, insurance, storage, and depreciation figures can easily enter five-figure territory. Considering the amount of time most owners spend driving these cars, it isn’t always a great return on your investment.
Here’s an overview of some of the leaders in the luxury car club sector. Unlike golf or health club memberships, a luxury car club membership is one you’ll actually use.
March 28, 2008 at 1:27 pm
Given how expensive it is to own and run even a standard car and how quickly they depreciate, it surprises me that more people don’t share cars. I think fractional ownership or an informal car club is particularly relevant for groups of 3-6 people in smaller towns and villages where the potential owners only need to use the car a couple of times a week. It is also a great idea for people who would like a second or third car, say a convertible or 4×4, but can’t justify the expense. Find another like-minded person nearby and it works really well.
Here’s some help on setting up an informal car club: http://www.yours2share.com/articles/running-an-informal-car-club.shtml