Can you timeshare a new pick up truck?

[tomwed]

Tell me why this won't work.

Wouldn't it be nice to have a pick up truck when you need one?

Nissan Frontier for Sale Woburn MA
Lease for
$165/mo.
for 24 mos w/$2999 cash or trade down

You get 24 like minded leasers.

365/24 [i rounded off]
each person has it 15 days a year for 2 years
each person puts up $125 for the down payment
each person makes a one time lease payment $175 for the lease
total investment $300/person

that comes out to $10 per use

I'm missing a lot of information. It's just a start. A single lowes delivery is $80.

[asianthree]

Tell me why this won't work.

Wouldn't it be nice to have a pick up truck when you need one?

Nissan Frontier for Sale Woburn MA
Lease for
$165/mo.
for 24 mos w/$2999 cash or trade down

You get 24 like minded leasers.

365/24 [i rounded off]
each person has it 15 days a year for 2 years
each person puts up $125 for the down payment
each person makes a one time lease payment $175 for the lease
total investment $300/person

that comes out to $10 per use

I'm missing a lot of information. It's just a start. A single lowes delivery is $80.

Commercial Insurance

[tomwed]

Commercial InsuranceHow do you get commercial insurance. This is way out of my balleywick. I don't even know if that's a word. That's how far out it is.

[jnieman]

Tell me why this won't work.

Wouldn't it be nice to have a pick up truck when you need one?

Nissan Frontier for Sale Woburn MA
Lease for
$165/mo.
for 24 mos w/$2999 cash or trade down

You get 24 like minded leasers.

365/24 [i rounded off]
each person has it 15 days a year for 2 years
each person puts up $125 for the down payment
each person makes a one time lease payment $175 for the lease
total investment $300/person

that comes out to $10 per use

I'm missing a lot of information. It's just a start. A single lowes delivery is $80.

I thought the trucks you can rent at either Lowe's or Home Depot were cheaper

[vintageogauge]

Where is going to be garaged, what if you need it the same day someone else does, who washes it, etc., etc., etc., Out of 24 people at least a handful will back out of the deal and not make payments therefore you will need an attorney to draw up papers to protect each other and as noted above insurance coverage for 24 drivers to play it safe. Boils down to not worth it, rent one when you need it, no hassle.

[Fredster]

Managing that complicated deal sounds
like a full time job.
Then you will have to come out of retirement!:22yikes:

[tomwed]

Where is going to be garaged,

It can stay on my driveway most of the time.

what if you need it the same day someone else does,

They flip a coin.

who washes it,
You don't wash it.

Out of 24 people at least a handful will back out
Everyone puts up $300 one time---and give all the money to the lessee before you take possession everything is paid off---no more money

if a year from now you want out, sell your contract for $150 to another person

Boils down to not worth it, rent one when you need it, no hassle

You work out the hassles in advance.

[Fredman]

No leasing company would agree to such a plan neither would an insurance company. In case of an accident would all 24 be liable?

[tomwed]

No leasing company would agree to such a plan neither would an insurance company. In case of an accident would all 24 be liable?aw nuts,,there goes my truck

BTW home depot rents trucks, lowes does not

[tomwed]

I have heard of groups sharing a boat.

[vintageogauge]

There are all kinds of problems that can develop, out of 24 people there will be many that will not agree to you keeping it in your driveway for more than your 15 days, damage will happen especially to a pick up that may not be noticed by the next user, there is sales tax on top of the monthly lease payment and most likely dealer fees, several hundred dollars in license fees, repairs, maintenance, insurance deductibles if a tree branch falls on it or something similar, and so on. Not as clear cut as you are thinking, there will be many unforeseen hassles that you can't work out in advance. Why not just buy it or lease it yourself and use it as a second car or better yet rent one.

[tomwed]

There are all kinds of problems that can develop, out of 24 people there will be many that will not agree to you keeping it in your driveway for more than your 15 days,
That would be better.
Each player keeps it for 15 days a year and during those 15 days if anyone wants to borrow it they would contact them.


damage will happen especially to a pick up that may not be noticed by the next user,

i didn't think of that---

there is sales tax on top of the monthly lease payment and most likely dealer fees, several hundred dollars in license fees, repairs, maintenance, insurance deductibles if a tree branch falls on it or something similar, and so on.

add it all up and divide by 24---


Not as clear cut as you are thinking, there will be many unforeseen hassles that you can't work out in advance.


Why not just buy it or lease it yourself and use it as a second car or better yet rent one.



I only want a truck 15 days a year. Trucks rent for $80/day. enterprise quote

so for 320 you get a truck for 4 days over 2 years from enterprise
or 30 days over 2 years with my scheme

[tophcfa]

In addition to all the listed ideas why this won't work is the fact that leases restrict the miles the vehicle can be driven. And insurance, maintenance, etc... would be a nightmare. Not to mention that no one would treat the vehicle as if they owned it.

[jane032657]

We own a truck. Anytime a neighbor needs it, we lend it. So uncomplicated. And neighborly. The dogs love it too.

[tomwed]

In addition to all the listed ideas why this won't work is the fact that leases restrict the miles the vehicle can be driven.

24 users 12,000 miles per year
each user gets 1,000 miles---go over and you pay---i want a pu to go to lowes, 1 mile awa


And insurance,
you get a quote


maintenance,
everything is under warranty, the dealership can brake out the costs in advance



etc... would be a nightmare. Not to mention that no one would treat the vehicle as if they owned it.

why not?----if i borrow something i take better care of it---i won't let a friend down

[tomwed]

We own a truck. Anytime a neighbor needs it, we lend it. So uncomplicated. And neighborly. The dogs love it too.you are very kind--i have a wood shop and offered it to my neighbors

i believe in sharing too

[Nucky]

In addition to all the listed ideas why this won't work is the fact that leases restrict the miles the vehicle can be driven.

24 users 12,000 miles per year
each user gets 1,000 miles---go over and you pay---i want a pu to go to lowes, 1 mile awa


And insurance,
you get a quote


maintenance,
everything is under warranty, the dealership can brake out the costs in advance



etc... would be a nightmare. Not to mention that no one would treat the vehicle as if they owned it.

why not?----if i borrow something i take better care of it---i won't let a friend down

What happens if it's your turn to use the truck and it is in the shop waiting for parts for 5 days? Then everyone on the sharing plan would be running for cover when the vehicle is turned in when the lease is done. Nice concept but no dice.

What if the person before you holds up a store then puts the truck in your driveway and the next guy gets pulled over and overreacts and gets hurt.

[l2ridehd]

There are ways this could work. I have done it with airplanes and sailboats. Can't be done as cheap as you think, but can be done. First thing you do is form a club. Elect a president, VP, maintenance officer and treasurer, develop a set of bylaws to manage it. In the flying club these folks got 6 hours a year free and the sailboat 6 days a year free.

Some suggestions. 24 is way to many. The most I ever got the plane to work was 12. 6 to 8 works best. You buy it, don't lease it. All costs get divided into three buckets.

First bucket is a share price to join the club. That is all club assets divided by the number of members. And a vote is required to change the share price. So to start, a new truck is say $28,000, divided by 10 members so $2800 each. Shares can be bought and sold as members want to move on. Share price changes as assets and asset value changes but only by a club vote which is established in the bylaws.

One bucket is all costs to own it with zero use. In other words, you own it and it is always ready to use. You need a scheduling service like an answering service. You need a garage to keep it in, probably rented. Airplane we rented a hanger and sailboat a marina slip. All these costs are your monthly dues. You pay them weather you use it or not. If you finance it, that lowers the share price but increases the monthly dues.

Then the next bucket is all cost for every use. And establish a minimum use. For an airplane we used one HOB (hours on board), a sailboat one day, so for a truck, maybe 25 miles and 4 hours. For a truck these costs would be gas, oil changes, tires, maintenance intervals, all costs incurred to start it and move it. Probably broken down to x cents a mile used. These are billed each month to those who use it on top of their dues.

So again I say it can be done. But not as cheap as you think. However it is always cheaper then owning.

For airplanes this worked very well as only about half the members ever used the plane but all fixed costs were shared by all members. And a plane requires certain maintenance. We did 100 hour plus annual inspections. You replaced the engine every 1800 to 2000 hours which was built into the usage cost so we always had the money ready for the engine overhaul or replacement.

For a sailboat it was harder as the maintenance was a lot less defined. So we had to have a contingency maintenance fund that was fairly expensive. We maintained 10K is this emergency fund and went through it often. So this required special assessments every once in a while. For the heavy users this was fine, for the occasional users not so much.

For a truck this would probably not be an issue. With good care, regular oil changes, new tires and brakes when needed, not much else goes wrong.

[tcxr750]

Anyone think of an Uber pick up truck.