Selling fractional interest in Racecars

B

BUMPnGO

New member
Racing is so expensive I was wondering if anyone is selling "fractional interests" in their Racecar(s), like they do with Airplanes. The concept would be to first establish the value of the car and then figure what it costs to operate on an hourly basis (excluding entry fees). You would have an hourly allocation for tires, brakes, engine rebuild, etc. etc. The hourly allocation would be based on the particuliar events "track time". The car would been prepped professionally (maybe by one of the "owners") and transportation to and from the track would be the racer's responsibility
 
Not every body wants to use the plane at the same time, but racer all need the car at the same time. Unless you have a car that can run in mutliple classes in different run groups. How you you determine who gets the car for a specific race weekend? Unless one is a club racer and the other is an autoXer you may have a problem.
 
I live in Columbus, OH and there are somewhere between 13 adn 14 regional, most of them double regionals, within a 4-5 hour tow. Having looked at many entry lists, I have seen a lot of entrys that have the same number in the same class with a note that one is Saturday only, and the other Sunday only. Not having a tow vehicle, I am working out an arrangement with a friend who does to share the car on Double Regional weekends.
 
Sharing a car can be done. Just make sure your partners checks are good. Also make sure there is an understanding of everyones responsiblites to the car and each other.
dave parker
wdcr itc#97
 
Make sure everyone knows whos got what invested both money and time wise. Someone will always have more of one invested than the other people realize and without a running "talley" someone will end up getting screwed. Stay away from any deal where "If you help me XXXX the car, then you can drive it any time you want." Write up a contract. Include in that contract what happens/whos responsible when the car gets turned into scrap metal. Verbal agreements and memories fade as brain cells are waisted during the Sat. post race sessions
wink.gif
Start out with everyone throwing the same amount of money into an account. When parts are needed, they're bought out of that account and everyone contributes the same amount at the same time. Everyone should have their own sets of wheels and tires and other consumables as well as their own tow vehicle. Unless everyone has their own trailer and tools, they should stay with the car so that nobodys screwed because the guy with the trailer doesn't feel like racing that weekend or it's full of crap from his 9-5 job.

Most of all make sure you like the people you'll be sharing the car with. On second thought, that makes things harder when you end up getting screwed over. Oh... btw... been there, done that. Now I've got my own car, own trailer and its' cost me more in the long run than if I'd just started with my own car.

------------------
Scott Rhea
It's not what you build...
it's how you build it

Izzy's Custom Cages
 
I had a deal together for this season - I thought - wherein I would provide and maintain the racing car and another guy would provide the tow vehicle and trailer. The rough draft was that we could then each use the other's toys for the same number of weekends, to be determined in advance.

We would each have our own sets of tires and be responsible for whatever damage might be incurred by either piece of hardware. The car was also to have been stored at his place.

To my surprise, my partner kind of passively opted out of the arrangement. I frankly do not know the exact reason...

K
 
BUMPnGO,
I have what some would consider a strange deal, but its been working for about 7 years and 3 cars.
It was proposed to me as what could each of us bring to the plate???? Tow vehicle, Trailer, New engine for the race car, willingness to crew for the other, place to store van trailer racecar, place to work on van trailer racecar, the knowledge to work on any of this stuff, willingness to learn how to work on this stuff and what I think has been most important the unselfish desire (MOTIVATION) to make sure that we both have fun in the process, whether its our weekend to drive or crew. We generally split the cost of tires, unless one of us is hurting more for cash than the other when the set is needed.
I have learned that in(IT) racing there are many things you can bring to the table that are not financial. I for one don’t make a lot of money (I am in the Army) nor can I rebuild a transmission, but I can take one in and out in no time. And that makes for one less thing that my co-driver has to do. Splitting tasks where each person’s skills are best utilized can help. So what had started out as a 1-year agreement has turned into a GREAT friendship
So when you go looking for your deal think about what can you bring to the plate??

And most important if you are driving and someone else is crewing YOU buy the beer

Matt Bal
 
Thanks for all the great comments. Maybe this idea is a little too much "pie in the sky" but I am still looking for some help. I am pushing 60 and my days of working on racecars in the 100 degree Florida heat are gone, but my zeal for racing has never been stronger. I've gotten by lately by doing a very strong prep prior to race weekends which leaves a minimum to do at the track, other than moving tires and bleeding brakes. Maybe I should be looking for someone who is new to the racing scene and wants to work on the car for "track time" and can buy a tire or two. I raced an ECR at Sebring last year with a young guy who did all the prep (and paid for all the parts as well as two 70% Hoosiers)and it worked out well. We split the entry fees (2 drivers) and we each ran a regional, a practice session and half of the ECR finishing 4th. Anyone interested in such an arrangement in SEDIV or the Centr. Fl. region, email me: [email protected]. 88 Crx Si ITA. Thanks
 
If anyone in the SEDIV (South FL) is interested I have three cars right now and no time having recently bought a company that needs a lot of attention. I've already done enough races to keep my national license for next season so I've mothballed everything. If interested in running one of them give me a call. 954-689-4746. I have an '99 SSB Miata and two SSC Neons (lots of spares), one is a "school car", one is a new national car (Currently qualified for runoffs). I just don't have the time and the cars are sitting in my barn collecting dust. Rent to own or shared ride? Let's make a deal...:-) Hate to see them sitting idle. Might also be interested in co-building an ITA Neon for next year.
 
Originally posted by 67ITB:
BUMPnGO,
So what had started out as a 1-year agreement has turned into a GREAT friendship

Matt Bal
Click to expand...

hey matt, it also helps that Eli will spoon you on those cold nights..

Stay safe.

brian
 
My brother and I aren't doing fractional interest in the individual cars, per se, we're doing half-and-half on the team. That includes both cars, parts, tires, supplies, trailers, etc., but not our two tow vehicles. Basically, we split _all_ the costs involved in the hardware, but cover our own tow expenses and entry fees. If one of us wads up a car, we'll both work and pay to get it right again, for example.

------------------
Doug "Lefty" Franklin
NutDriver Racing
 
I Have A BMW 328is Speed World Challange Car that I bought Last year to try and do a couple pro races with. My plans did not work out and know I"m trying to sell it. I will also entertain the thought of Joint ownership. I live in Orlando Fl.If you are a BMW guy that might want to do a couple Pro races or Regionals or BMW Club stuff in florida and can Wrench on the car give me a call at 407-810-4332 or e-mail At [email protected] Thanks Neil
 
You must log in or register to reply here.
Back
Top