Oversteer Fractional Car Ownership

by Deidre Woollard (RSS feed)
Jul 18th 2005 at 7:31AM

One of our major interests is fractional ownership. We've seen it in yachts, jets and homes but we are noticing more and more car clubs and opportunities to own part of a luxury car. Oversteer, a company in Marbella, Spain offers shares in Ferrari, Porsche and Mercedes cars. Each owner gets four weeks per year in the car of their choice. These can be taken as full week or split into weekend and midweek periods. The fractional owners pay an initial purchase price and an annual or monthly maintenance fee to cover insurance, garaging, servicing, delivery, collection and valeting. At the end of the ownership period, clients have the option to transfer to a new vehicle or to opt out and get a portion of the purchase price back. The idea is new to the area and the plan is aimed at wealthy non-resident property owners in the area, and will later be expanding to other destinations such as the Algarve and the French Riviera.

Filed under: Luxury Cars & Autos

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