sharing a bought/lease car

lynlou


Joined: 16/02/2010
Posts: 36

Message Posted:
12/04/2010 00:47

Has anyone owning on a site managed to organise some sort of shared car for owners? It seems like such a big expense when over so much – a group of 6 owners spending 5 weeks a year there would spend over £4000 every year between them…seems like there could be better option.

Maybe 10 could buy a car.... or are cars/repairs/insurance ect too expensive?

Does anyone know if there are lease cars available as there is in UK for maybe 3 years at time?

Thanks for any thoughts!

Lynne

wanderer


Joined: 05/02/2009
Posts: 1653

Message Posted:
12/04/2010 12:17

Here a few issues before you start its possible my family use my car when they visit The car needs& can only to be registered in one persons name

Insurance in TRNC is usually any driver but the question needs to be formally asked of the insurance company

The next problem is that people tend to holiday at similar times so over demand not all can drive at once

Who arranges the servicing and repairs all the dirty jobs

One person uses it for five weeks another 8 and so on so how do you even out the costs

You need to keep a log of who's driving and copy driving legal licences when for the motoring fines etc

Also if you split the car into shares 1/5's 1/4's etc you need to establish a buyout formulae as nothing is forever redundancy = needs cash quick

illness/death = cannot visit use

Some one moves over full time= full time use

lynlou


Joined: 16/02/2010
Posts: 36

Message Posted:
14/04/2010 01:36

Thank you for your reply - some points i had not considered...

I had thought everyone could be given a certain number of days - but i suppose, as you say if we r all there at same time, it may just be a trip to the shop ect which is not a full day. It would have to be between friends but then It may cause more problems than it is worth? Maybe an MC on the site could buy a car and hire out? I doubt many would want to take responsibility for servicing....may just stick to hire car then!!

Lynne

wanderer


Joined: 05/02/2009
Posts: 1653

Message Posted:
14/04/2010 12:37

Lynne

I know a few who own a property jointly and they share the car

To hire off one who owns the car on the site means that it becomes a business and would void the insurance plus require the set up of a business in the TRNC

Our car is used for free when the family stay I have a copy of the driving licence of the family member and formally give them written permission to use the car so they have something in case the police get picky

good luck

sienna


Joined: 09/01/2009
Posts: 1627

Message Posted:
14/04/2010 15:34

we have shared a car with other on the complex the last twice wehave been out (different couples) and it worked out very well. As you say you don't always need a car everyday. The evenings worked out quite well taking it turns to have a drink or two or not if driving !! why not try this first obviously it cut the cost in the half