I've come to the realization that financing a racing program by myself might not be feasible. It occurs to me that sharing a car and the ensuing costs would save some money and would provide the additional benefit of having someone to share the joys and sorrows of competition with as well.

If I were to do this, it would certainly be with someone I could trust not to leave me high and dry, but obviously, should something happen it's best to know from the start who is responsible for what.

My question is, for those of you with some sort of agreement, be it written, verbal, telepathic etc., what sort of terms are imortant to include? How is the liability divided when the car belonds to only one member of the team?

Thanks

 

better make sure everything is written out!!!

 

It helps if you know where they live...

I am partners with my brother. The car and the project started out as all mine, but gradually as he has been making more money, he is buying more ownership. and next year we plan to share track time equally.

I supplied the donor car, which actually meant I traded him my old celica for his CRX. I put all the intial money into the project(suspension, cage, seat, wheels, tires, trailer) and he supplied many hours of wrenching and accompying me tot he track. Shortyl after I got my license and started racing in NASA, he started to drive the car in school groups when he could afford it. Now he has his license, and also a recent raise, so we are going 50/50 on the NASA 25 hour enduro. next year, I expect a 50/50 team effort in honda challenge. We keep track of all the things we buy for the car, and just try to keep things even. Of course if I were doing this with a friend, I would have something signed. But as far as damage goes, we pay 50/50 for any damages, no matter who does it. Again with a friend, I might hold him liable if the sanctioning body finds him at fault. That is what we do with our enduro drivers.

 

Whenever in any doubt about the person you are doing the deal with, write everything down; from the case of flat spotting a tire, hurting the motor, or an incident that burns the car to the ground. If there is a case that's not accounted for and can't settled equally, you will get into the never ending I owe you, you owe me game.

 

Like they said, written is the only way to go back later and settle things if there is a conflict. I have seen a lot of partnerships work and a lot fail on decent or nasty terms. It all comes down to compatibility of the people. Good luck.

 

Thanks for the responses so far.

What is the best way to run things when the car is owned by just one person? Obviously, consumables like tires and brake pads are easy to work out, but what about less frequent things like shock rebuilds, or even engine rebuilds? Should the non-owner pay a "rental" fee for the use of the car?

For those of you that have done something like this, what has worked for you?

 

Chris,

Cars are shared all the time. Sometimes they are co-owned/expensed but normally the car is owned by one individual the other person supplies most of the operating costs. Pretty much a rental when it comes down to it.

If you own the car, a written agreement is the best way to go to protect your interests when letting someone else race your car. I have and many others have shared cars without written agreements...its an understood you break it, you fix it agreement. Last year I nearly worte off a friends car. It spent 47 hours on the frame rack and received a new left front clip. Without a written agreement, I could have walked away but then my name would have been mud in the paddock and in the eyes of people whom I have earned repsect or strive to earn respect as a person and a racer.

If you haven't finished the car, I can help line you up with a car to rent for a decent price.

Rick

 

If the car is owned 100% by one party, I would work out a rental agreement for the 2nd driver. Easiest way is for the owner to supply everything and the renter only has to arrive-and-drive. Renter pays for abnormal damage specified in the rental contract (accident damage). Rental fee covers wear and tear.

 

so who wants to go halvsies on jasonb's civic?

( https://honda-tech.com/zerothread?id=611897 )

i'll pay more if you have trailer/tow rig. socal preferred.

 

I have known three different partnerships....... Two ended well, and the third, well nothing is perfect.

I think you also need to have similar expectations on the level you want to play at. If your partner wants to upgrade the car to GT1 and you are looking at IT then things are not headed in the right direction.

Just my 2 cents

Dave
#72 IP2