If you’ve got Cristal taste and a Moet budget, this may be of interest. A syndicate system has been launched that enables Porsche enthusiasts to stop dreaming and own a share of a new or used car.
This is no leasing or timeshare arrangement, it’s a genuine ownership program with up to four people able to buy into the one car. Even if you can afford a Porsche all to yourself, the system could still save you money.
Australian Porsche driving experience company, Cliff to Coast, have launched the program and are inviting applicants from Sydney, Melbourne or Canberra.
The business model is common in the boating and aviation industry, and each Porsche will be held in a unit trust with a trustee and each member of the syndicate will own an equal share in the trust and therefore the car.
Cliff to Coast supplied the following examples that show just how much more affordable it is.
A Porsche 911 Carrera 4S would set you back around $330,000, and the approximate individual ownership cost over three years would be almost $260,000 including depreciation, running costs based on 7000km per year, insurance, interest on capital, tyres and more.
Under the syndicate program, the same car would cost four co-owners around $87,000 each over three years.
How about a Porsche 997 Series 2? Assuming it would sell to an individual for around $150,000, costing almost $141,795 over three-years, or just over $57,000 for each of the four members of a Cliff to Coast Syndicate.
There are fees involved to be part of the syndication, though. $140 (ex GST) a week covers servicing, insurance, detailing, even tyres and delivery each time you book the car.
A dedicated trailer will drop the car off at your door, fuelled and detailed every time, then collect it and take it back to be securely stored.
Bookings will be made via a web-based system and Cliff to Coast will deliver it to an owner’s door so they can just walk outside and drive away.
There’s also a $1500 (ex GST) fee to cover administration and setup costs, and yes a criminal record check will be done on all applicants.
Each owner gets access to the car 84 days a year and can run up 7000km a year.
At the end of the three years, the car is sold and the money distributed to the owners. Or a syndicate member could buy out the other owners.
As for Cliff to Coast’s Porsche pedigree; they have been running drive experience programs and matching cars to drivers for years. With a network of specialist Porsche contacts including mechanics and detailers, the company is confident they can connect like minded drivers to their dream Porsche.