You can own a fraction in a Motoring Legend….
If your interested in driving a Ferrari for at least a week each year then read on….
The car pictured above is a Ferrari 360 Spider F1, which is shown as an example only. This fractional scheme will be formed to purchase a pre-owned Ferrari, in 50th shares. Each fraction will entitle the owner to 1 week’s use each year. The pictured car is on the market for just over GBP100,000 which would give a share cost of GBP2,000.
As stated above, the minimum fraction size will be 1/50 (cost approx. GBP2,000) giving 1 week’s use each year. The maximum fraction size will be 1/5 (cost GBP20,000) giving 10 weeks use each year. All time allocations will be decided by lottery, with the opportunity to swap weeks between fractional scheme members.
As this is a proposed fractional scheme, people who express an interest initially will be able to influence the value of car purchased and decide on its location.
Running costs TBA. The insurance and running costs of a Ferrari are likely to be quite high. I am waiting for some quotes before giving a figure.
The fractional scheme would run for 3 years, after that the car would be sold and the fraction owners would receive the sale value of the car pro-rata for the size of their fraction.
There will undoubtedly be an age restriction on the membership of this fractional scheme, at least a minimum of 25, and possibly 30. Details to follow.
To express interest in this fractional scheme or as a question please email neil@thefractionaltimes.com
Tags: fractional car ownership, fractional ownership, fractional UK
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