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Esprit Fractional Ownership


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Hello,

This is a 'feeler' to find out how much interest there would be in fractional

ownership for an Esprit. For example, 5 owners share in the asset and liability

and drive time would be approx 10 weeks per year per owner, less down

time for maintenance and transport. All owners would need to be in close

proximity - in this case Denver, CO area. Please respond with any interest

or comments regardless of where you are located. Thank you.

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:) What have you been doing to your car!

88 Esprit NA, 89 Esprit Turbo SE, Evora, Evora S, Evora IPS, Evora S IPS, Evora S IPS SR, Evora 400, Elise S1, Elise S1 111s, Evora GT410 Sport

Evora NA

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Sounds like a good lawyer will need to be involved in that!

You could look into buying membership into one of those car clubs that allows you to get a different car for a certain amount of time depending on how much you pay for...not sure what they are called but that sounds like a decent option if that is what you are looking to do...

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I've only got the weekends for the car,

Most weekends i'm doing something else,

When i'm not it's pissing it down with rain,

But when i can use it, it's ALWAYS there.

Better it's there for you whenever you can use it.

Otherwise it's as handy as owning a castle on the moon.

Trust me, when the things off the road for months and

a

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Clarification:

Personally, I would rather own part interest in 5, 6, ...10 exotic cars than just 1 sitting in the garage. On a shared program, there is always something to drive - this is not intended to be a one car program. If there are multiple owners then it isn't 'just my car' so I don't have the "it's all mine, don't touch" mentality. Better to have others help foot the $8k repair bill too. Yeah, there is repair down time, but that is expected and figured into the program. Fractional ownership is done in real estate, airplanes (jets), yachts, and exotic cars. I am looking to expand an auto program into my locale.

Yes, I have a great lawyer ! :)

Thanks for the responses, there are some good points.

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The Esprit is just too fragile to let multiple people own it. For that type of investment you need a more reliable car. The list of people I would trust to drive my car or even been able to shift it without taking out 2nd gear is very very small. I think the main requirement would to buy in would be previous Esprit ownership.

Just my 2cents.

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I had a quarter share in an Airtourer super 150 (G-AZHI, for the spotters) for many years..problems with group ownership; never seemed to have all 4 owners sufficiently active to meet the costs..need a monthly payment to meet the "fixed" costs and each member pays for their own "variable" costs..fuel etc. ..calculating the "fixed" costs is contentious, garaging, maintenance, insurance are all difficult to predict. We tried hiring the aeroplane out to non-members, hoping to subsidise our own flying..seemed to work the other way around, with "us" subsidising "them". At one time it got like the Producers, with at least 6 quarter shares in circulation!! Ended up with two of us meeting most of the costs and doing all the maintenance work right down to unpicking the wing and changing the spar caps. Was it financially viable...definitely not. Wouldn't have missed it for the world, though! The old adage still applies.."Boats, aeroplanes and women...rent, don't buy!!"

Scientists investigate that which already is; Engineers create that which has never been." - Albert Einstein

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Would be interesting to see how many of our 4000+ members own their cars

or just have a share in a car. I know of one member that had a 50% share in an

Esprit, am not aware of another so far?

Personally, if it's not mine then paying any repair bills seems stupid. In ten years of

running Esprits i've probably got

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Sounds like a fine idea to me, Bill - like John I owned a seventh share in a Rockwell Commander aeroplane years ago, but that is a VERY different can of worms. Aircraft need 50/100hour and annual CAA/Cert of Airworthiness inspections (all expensive) and the engine and prop are both time-limited. And on a basic PPL, there are more days in the UK when you CAN'T fly than when you can, so a group is based on flying hours rather than on 'time in possession'.

I think a good Esprit shared 4 or 5 ways would work well, especially if you allow a big chunk for proper maintenance. Let's face it, bad weather is never going to ground you, and nobody will run it flat out for hours at a time...

Proud recipient of the LEF 'Car of the Month Award' February 2008

"Life is not a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside, thoroughly used up, totally worn out, and loudly proclaiming: "Wow, what a ride!!"

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Theres a group of people doing it with Ferraris here 1/4 share. Its an excellent affordable way to part own an exotic car over $100K. People do it all the time with boats too, good stories and bad. As for the Esprit I agree why bother you can get one for cheap enough anyway.

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I guess the other downside would be the expected cost of a repair for maybe someone elses over enthusiasm. One driver is always going to drive it differently to another. Earlier or later gear changing, higher reving, later brakeing. You may get a minor accidentle damage to a tyre or kerb an alloy, knock the tracking out, and all needs to be paid for. Is every one going to own up and cough up? Its bad enough paying for your own ware and tare and serviceing costs, and although it would be split, not too sure I would want to pay for maybe somebody elses mistreatment of the car. I think you would have to be extremely good pals within the syndicate and have the upmost respect and trust for your co-partners as well as the car.

Always do sober what you said you'd do drunk - that will teach us to keep mouth shut!

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Did this with a yacht a few years ago, 4 of us, 3 of us popped a spinnaker , 4th didn't want to pay his share, then there's the "You use more tha I do" and all 25% each is out the window. Some one doesn't want to do the anti foul.

Don't do it.

Life is like a sewer, what you get out of it, depends on what you put into it. (Tom Leahrer)

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Al,

I second that with the boats! My 2 very good friends and I did that several years back and it was fine at first but turned into a bad ordeal...just a hassle and pissing money away on those things! I had a huge smile on my face when it sold (not as big a smile though as when my Lotus first appeared).

All I think everyone is trying to say is that you need to be very aware of all the details and have contracts lined up with everything spelled out and all I's dotted and T's crossed.

Let us know how things go!

Jason

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