Would you buy a car with a mate?

[Angry Sheep]

Over a few beers last night, a mate and I concluded that we both really want kinda fancy a particular model of car. It's a bit shite, not very desirable to normal people, and there's only ever a handful for sale around the country.

 

Neither of us need another car. But we agree it'd be fun to go halves on one of these. He's phoned the seller up and it does sound rather good, albeit a bit of a trek away. The seller also isn't overly fussed about the money, and has mentioned he'd take £450 for it. That makes it a bit of a bargain, IMO.

 

Mate's now got an insurance quote, and this is how the sums are looking (each):

 

Car: £225

Insurance: £150/year

Tax: £10/month

 

Frankly, this seems like a relatively cheap way of having a giggle. I've got a few concerns, though...

 

1) What happens if it goes wrong? This isn't a major concern. It ought to be a fairly reliable car, and we've agreed that it'd be run on a shoestring. If something goes wrong, we'll go halves on the bill. If it's a big bill, it gets bung on eBay for spares/repair. Worst case scenario, we'd lose £225 each and we're both prepared to do that.

 

2) Who has it when, etc? This is the bigger problem. Both of us have a couple of other cars, so I'm not expecting either of us to end up hogging it. He initially suggested we each have it for a month and alternate, but we've now agreed that would soon get boring and so we're going to be a bit more flexible. We live about an hour apart from each other, however, and I envisage it ending up spending ages at his or mine because we can't be arsed shuffling it around.

 

3) We kinda disagree about how long to keep it. If it was up to me, we'd keep it for six months max (probably less) while we have a bit of fun and then flog it while it's still got a decent MOT left (it's just got a fresh test). He points out that we're unlikely to get anything back from the insurance if we do that, by the time they've taken out their admin fees, so we might as well keep it for a year. We'll then put it through an MOT and sell it with or without a fresh test depending on what the MOT man finds. I suspect we'll be well bored of this car sharing business in less than 12 months, though.

 

He's a good mate and I'm fairly confident this could work out, but I've got a niggling feeling that it might be a daft idea, especially as neither of us need another car. But this is Autoshite and you lot will understand the temptation. Is this a genuinely cheap way of scratching an itch, or is it going to end in disaster? Or am I just overthinking it and should have got my wallet out while we were a few beers into the discussion?

[fatharris]

Do it, what's the worst that could happen?

 

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[sierraman]

Bought a car off an acquaintance once, it started to give me some grief 2-3 months later. I didn't think once about complaining, if you've bought it it's your problem, you don't go back complaining asking for money back or whatever.

 

Unfortunately a lot of people these days don't have any bollocks about them to deal with this and start quoting their 'rights'. Sold something recent on Gumtree for £25 or so, they had the opportunity to inspect it then paid up. Shortly later I'm getting emails back quibbling about minor stuff I pointed out to them. Told them to fuck right off, if they wanted a guarantee they'd better pay the full price and buy a new one.

[egg]

In some ways I'd prefer to buy a car with a trusted shiter than a friend. Falling out with a mate over money is a pain.

[Rod/b]

Yes. Get it bought now and worry later.

[rantingYoof]

Speak to Supernaut and 17-Coffees who jointly own and run a BMW 316 base. Seems to go well with them, although living within walking distance of each other has helped I think.

[crapcarcollector]

Get into the mindset of you are doing it for the LOLZ and and the £225, once gone, is gone, and is the cost of entry.

 

If the £225 is an issue to you, don’t do it, you’ll end up on Judge Rinder or some shite.

 

To be honest, most of the fun is the banter, and shared experience with a mate. Driving on your own is a bit gash...

 

 

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[320touring]

Dome to the beige courtesy phone please!

[Bren]

I have taken serval mates to buy cars.

[HillmanImp]

I do this all the time. Volksy and I have owned several cars together and my mate and I currently own KruJoes old MR2.

 

It works great. Parts are half the price and you have someone to work on the car with. Never really had much hassle with sharing it as like you say we have other cars.

[bramz7]

Me and my girlfriend went halves on the Tipo.

She has offered to pay half of costs for stuff too. Even went and bought brand new DGT badges for it!

[MarvinsMom]

me and kerry have gone halfies on the lexus, 

 

its the first time either of us have tried this, so its too early to tell whether or not it was a good idea.

 

i have the nagging doubt though that when the inevitable big bill crops up, or major failure occurs then i;ll fine that the lexus is very definitely MY car!

[Tamworthbay]

I have owned half shares in a few cars with a mate of mine, all worked out ok. He bought me out of one as we had agreed to sell it and he decided he wanted to keep it. He still has it but it hasn't left his drive in two years.

[purplebargeken]

Just doit,it isn't a major issue unless you are talking super rare exotic hypersport shitbag.

[bigstraight6]

Go for it, I have a few really good friends that I've nearly jointly purchased a vehicle with but it hasn't quite come off, it will happen one day and I can't see it causing any issues....

[Angry Sheep]

Sounds like it could be a goer... but the car's sold while I was dithering.

 

It was a Suzuki X90. It's a shame, but maybe something else will come up. We both agree that a Jimny would be of more use, if not as bizarre.

[Jazoli]

Sounds like it could be a goer... but the car's sold while I was dithering.

 

It was a Suzuki X90. It's a shame, but maybe something else will come up. We both agree that a Jimny would be of more use, if not as bizarre.

 

That was a lucky escape

[Slartibartfast]

Stanky and I have joked about this before. We both would quite like a Lolvo. However neither of us have the space nor the spare funds, so as of yet such musings have remained hypothetical. I think it can work, definitely.

 

What happens in the event that one of you biffs it into something expensive?

[oldcars]

Yes, didn't work out but in the end i sold my half for £350 so not all bad.

 

http://www.ebay.co.uk/itm/Rover-800-Trailer-Camping-Half-Car-Custom-Project-/322628389315?nma=true&si=g8HDaEIWfyNLT9pRWrZN4pD8xdU%253D&orig_cvip=true&rt=nc&_trksid=p2047675.l2557

[2MB]

I would like to do this, but the only mate that would be up for it has zero mechanical knowledge or desire to learn, so I know that would be left entirely to me. What he does have is the space on the drive though. I suspect walking up and down the road with heavy tools would get old quite quickly

[Faker]

I've done this in the past... went halves on a locost 7 about a dozen years ago. Autotests and track days yoke. Was a good laugh. 50/50 bills etc. But.. bend it and you own it sort of deal, which was fair enough if I'm honest. Can't expect one or the other to loose out, should it have ended badly... which it didn't (fking amazingly)!

[Angry Sheep]

I've done this in the past... went halves on a locost 7 about a dozen years ago. Autotests and track days yoke. Was a good laugh. 50/50 bills etc. But.. bend it and you own it sort of deal, which was fair enough if I'm honest. Can't expect one or the other to loose out, should it have ended badly... which it didn't (fking amazingly)!

 

Yup, I think that's the deal we'd do. It perhaps makes more sense if it's a car with a purpose... a track day toy, for example, or an off roader. I'd rarely bother to drive an hour to his house for the sake of taking the X90 we were considering for a spin around the block. If we planned to do the odd track day, the distance would be less significant.

[Wack]

Some years back I had an X19, I asked 2 friends if they wanted to buy 1/3 each as I liked it but wasn't driving it enough

 

I then backed out but they decided they wanted it so went 50/50

 

One kept it in his garage but they both had keys ,this was pre mobile phones.

 

Whenever mate 2 fancied a drive = sunny he'd open the garage door to an empty space , car in garage = pissing it down

 

Mate 1 was shit at answering the phone so it became a right PITA , this was the reason I dropped out as I knew sunny = car out

 

If your mate isn't a twat it could work out but sounds more trouble than it's worth to me

[vaughant]

Difficult one and I've done it a few times, admittedly for profit making purposes and it's gone good and bad.

 

Problems I've always found is enthusiasm, for example we bought three cars once, I sold the first one in a week, which almost paid for the other two, happy days!!! He then took day and month to sell the next one which he did and wet made a few £££ on them, by now, car three was free/minus money, amazing.

 

Took car three for the MOT and it failed on mainly daft stuff but the MOT centre fucked the gear linkage up (denied it of course) and it was say £50 for a new one. Me being enthusiastic to get it all done, sold and dusted said yes let's do it, mate quickly interjected and said he can fix it for next to fuck all, hmmmm ok. It say in the MOT centre for months on end until eventually we were asked to get it moved (twas a mattress MOT centre hence not pushing the linkage damage too much). It went into his garage and sat there for even more months. It got to the point where I'd totally forgotten about it, bought several other cars in-between and generally thought no more of it. Basically turns up one day at my house with half of what we gave for it citing the fact there was no profit because he'd spent 2 weeks doing it up and had taken his labour out of it, something I didn't do with the others, spilt it 50/50.

 

Still, I thought he had done the graft so bit complaining too much.

 

Then bought a bit with him which I fixed solely and sold on also, made a good drink on it. Insured it into another on his recommendation which required way more work than was first agreed, also the path to get the work done was really expensive, lost near enough everything we put into it so I called it a day then.

 

Still friends but we didn't bother with each other for a long time.

 

To me, if you've got to travel an hour to pick it up it won't work. Use it for a month each at a time and get to know/enjoy it, is plenty of time to get to know any major issues and I agree with your mate to keep it until the MOT is out then decide scrap or keep.

 

Your call but for that money I think it's worth a try.

[17-Coffees]

Speak to Supernaut and 17-Coffees who jointly own and run a BMW 316 base. Seems to go well with them, although living within walking distance of each other has helped I think.

It works out really well for us, split the cost of buying it and do thnot same when it came to MOT, parts, etc.

 

It helps that we have the same plan for the car (keeping as original as possible) and that we have the same enthusiasm for it. And the main part is we know and trust each other well enough that the whole things works out.

[cros]

Car sharing is not for me. A few months back on this very forum under the heading of 'stuff you do in your car' there were practices I found distasteful. One member said he committed an act of self-pollution over the front seat of every car he'd ever had, some kind of territory marking thing. Why would you want to get into that?

[They_all_do_that_sir]

Tricky one. Im not the sort who feels happy lending cars to friends or family. Its nothing personal, I'm just a bit odd like that.

 

But if it was something with shared ownership from the outset I might feel differently

 

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[The Moog]

I am a key pimp, happy to hand them over to anyone who fancies it. I like cars but I am never attached to them that much. 

 

The starlet I bought with 2 other friends but beyond purchase price I paid for everything else. It was just easier that way. One of them never got to use it as he still hasnt found the time to get to a track day, the other used it a fair amount.

 

I have also bought cars solely for others to use - Babydrivers Megane that I bought to use at Knockhill, but I only drove it up there, then handed it to 320touring.  

 

Tickmans Alfa was my daily and drove to knockhill and gave keys over to Supernaut.   Only rule was that if you break it you buy me another.

 

The puma has been used by me, my mate, Bucketeer and Lady Bucketeer. Starlet was me, my mate, Supernaut and Bucketeer.

 

As above make sure you are closeish to the person you are sharing with. The starlet was shared with people 2 hours from me so I ended up doing all the work. Also it depends on the price range of the car, the starlet worked as it was a cheap car (RIP littl soulja) which meant no massive bills and if the worse happened we would be down few hundred quid. 

 

It helps to have a plan for the car. What is it to be used for? How often? Cars dont like to be stood. 

 

Stuff like insurance is always a bit of a pain. 

 

And if you are looking for a low mileage, big smiles corsa B step right this way 

[Captain Furious]

Bought several cars with mates and it's always worked out fine. Bought the 205GTi with a good friend of mine and it's actually really useful having someone to share the bills, things get done a lot faster and don't feel like such a hit in the wallet. I lost enthusiasm in the end because it was such a problem child and floated the idea that we sell it - he agreed immediately, so we did and bought a Mk4 Mondeo Tdci with the cash. With the 205 everything was 50/50, insurance/tax/running costs etc because it was a 'bit of fun' car (not much fun as it turned out). With the Mondeo I put up half the purchase price but as he's going to be using it daily he's paying all the running costs and I get to use it whenever I need a tow vehicle - this works for me because my daily can't tow and I don't want to change it, so I won't have to tax/insure/repair a car solely for this purpose like I do now, and it works for him because he needed a new car and it increased his budget to get a better one.

 

He probably gets slightly more out of the Mondeo deal than I do, but I'd already spent that money on the Peugeot and wasnt really expecting to get it back (if anything I thought we'd have to sell it at a big loss but as it turned out we got a small profit) so the Mondeo kinda felt 'free'.

 

Depends on the mate, the car, what you each want out of it etc but it definitely can work.

[Captain Furious]

Incidentally that's on a car that was £2500...for £225 each I wouldn't even flinch - but your mate is correct about insurance, the days seem to be gone when you get any pro-rata refunds, at best, admin/cancellation charges always seem to exactly equal any refund owed...at worst you end up paying them money to cancel.