Would anyone of you be keen on part ownership of an Ultimate UDM? I'm thinking of sexy creatures like the M6 (or e60 M5)?I did this in another country in a previous life and it worked superbly.Caveat: it was four guys who already had "nice" daily drivers sharing a souped-up two-seater coupe which was not nearly as expensive as what I'm suggesting here.If we did this here it would be professionally garaged with one dedicated mechanically inclined steward (not moi). Pls reply...
Part-Ownership Scheme
- Thread starter mc_e39
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Alvin
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Might work. Would like to hear more
XXX
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there was speedtoyz, where they had timesharing of a Ferrari 355, a Boxster, SL300 Convertible and also some Yachts and cruisers but unfortunately it did not work out due to Malaysian mentality and also some internal politicking in the company. It was fun while it lasted, did manage to have the 355 for 24 hrs, the boxster for 2 days and the SL300 for 3 days. They are keeping a low profile until they can get things sorted out but may not bring back the cars but maintain the sharing of the Yachts and cruisers.
mc_e39 your idea sounds brilliant. We could get 12 people and each pays that months instalment and each gets to keep the car for that particular month or something like that, just a suggestion.
I have actually with 4 friends at this moment sharing a race prepared Toyota AE111 and AE86 for trackdays in Sepang and also to enter races when the opportunity allows.
Anyway Count me in . ( but also depend what vehiclelah if Gallardo or Enzo.....I cabut first) :lol:
mc_e39 your idea sounds brilliant. We could get 12 people and each pays that months instalment and each gets to keep the car for that particular month or something like that, just a suggestion.
I have actually with 4 friends at this moment sharing a race prepared Toyota AE111 and AE86 for trackdays in Sepang and also to enter races when the opportunity allows.
Anyway Count me in . ( but also depend what vehiclelah if Gallardo or Enzo.....I cabut first) :lol:
3er
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So who finally OWNS the car legally? What if there is a prang (whether your fault or others)? What happens when the time comes to sell the car 5 years later? What if one "member" opts out half way through? What if the "owner" conveniently disappears with the car?
So many questions....
So many questions....
OSFlanker
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Either a trustee be appointed to legally own the car or a company can be set up though this would double the road tax!
Yes, many questions esp if the joint owners are not close friends. A time-share agreement has to be done up. Track cars are better to co-own as the purpose is very limited whereas there could be many arguments over usage of a road going car (wedding, convoy, autocross, outstation trip, etc, etc)!
Yes, many questions esp if the joint owners are not close friends. A time-share agreement has to be done up. Track cars are better to co-own as the purpose is very limited whereas there could be many arguments over usage of a road going car (wedding, convoy, autocross, outstation trip, etc, etc)!
XXX
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All that can come to a conclusion one just need to sit down and discuss
if during discussion stage also tak jadi then tak jadi loh.
But not yet try you all pour cold water already, whatdanneh?
How you all do business lah like dat? How sure the invoice to your customer is goin to be paid?If not sure dont invoice ah? :lol:
if during discussion stage also tak jadi then tak jadi loh.
But not yet try you all pour cold water already, whatdanneh?
How you all do business lah like dat? How sure the invoice to your customer is goin to be paid?If not sure dont invoice ah? :lol:
Call me a pessimist, but the Malaysian mentality is really a bewildering thing. It will never work unless the timeshare is run by an independent person with no interest in the assets and all the rules laid out strictly. Or the car is shared by a small group of like minded friends. But that defeats the purpose of spreading the cost of the vehicle widely to make it more affordable.
An invoice is a transaction document (with appropriate supporting documents) that is legally binding to the purchaser of goods or services. So any problem can be resolved in a court of law. But with the usage of the cars and apropriation of usage rights, damages and whatnot, these are all arbitrary and need to be resolve among the car owners. That's where the Malaysian mentality will come in play.
An invoice is a transaction document (with appropriate supporting documents) that is legally binding to the purchaser of goods or services. So any problem can be resolved in a court of law. But with the usage of the cars and apropriation of usage rights, damages and whatnot, these are all arbitrary and need to be resolve among the car owners. That's where the Malaysian mentality will come in play.
XXX
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If its discussed properly and put on paper and get it legally binding then there shouldnt be a problem, just like the invoice need to chop and sign d/o or whatever agreement first then only would it be legally binding,but at the end is like what you say the mentality, get into a Ferrari and you expect to take 90 degree corners without applying the brakes goin at 100. (thats what happened at speedtoyz). But thats with complete strangers. Where else here we are made up of ................................?????
XXX
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They are still around just lying low for a while and not signing up new members to revamp the business model. The car thing was a dream come true but we did not know how to appreciate it. They might not come back with the cars but maintain the sharing of the yachts and cruisers bcos that one safer got Captain drive the ship so you cannot simply take 90 degree corners at 100kmh :lol:
I really pitied those cars, the Ferrari and Boxster always go out comeback sure got something happen one. The SL300 suprisingly takda hal.
So do you think its mentality or not.
I really pitied those cars, the Ferrari and Boxster always go out comeback sure got something happen one. The SL300 suprisingly takda hal.
So do you think its mentality or not.
c-square
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Well, its not surprising to hear that. It is just typical Malaysian way of thinking that since the car is not mine and don't have to fork out for maintenance (akin to a rented car) I just might as well whacked the living daylights out of this machine and let someone else worry about it later. In any case, I paid "rental" for the car.
XXX
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Set up a company buy the car under the company whoever sharing has equal shares in the company. Accident / Missing there is always Mr. John Hancock :lol:
Dont have to start with high cost car lah a used NSX, Porsche.... which cost less than 200K also can mah. This cars are different from your everyday cars but they cant be driven everyday so there is no reason to own them
just having them to use for 10-20 days in a year is really more than enough
and thats probably how many times the owners of this cars actually use them. I heard there is a Testarossa in the custom stockyard goin very cheap...anybody got jalan.
Brilliant feedback.
Of course everything will be legally done, and all the co-owners need to be comfortable with each other.
It must not only be a meeting of resources, but rather a meeting of minds.
For me it would also mean the beginnings of other such schemes for profit, but that's another story for another time.
I know about speedtoyz, but I am proposing something different here -- we all actually own the car.
What I will do is PM all of you who have indicated an interest for a sit-down after CNY. Possibly Yee Sang if you're not too "jelak" by then, on moi... sounds good?
Of course everything will be legally done, and all the co-owners need to be comfortable with each other.
It must not only be a meeting of resources, but rather a meeting of minds.
For me it would also mean the beginnings of other such schemes for profit, but that's another story for another time.
I know about speedtoyz, but I am proposing something different here -- we all actually own the car.
What I will do is PM all of you who have indicated an interest for a sit-down after CNY. Possibly Yee Sang if you're not too "jelak" by then, on moi... sounds good?
