The Process
See the process from start to finish
1
Inception
Once four individuals inquire about owning the same make and model, we move onto consultation.
Next we consult each member about their preferred specification for the car. We then determine the final option list based on the most popular choices between the four prospective co-owners. This covers the selection of the colour, alloys and any other packages. This allows you to have a real say in the car you are co-owning.
2
Consultation
3
The Contract
Once the final specification is agreed upon, we will draw up your contract. This will state your entitlement to your share of the cars' value and the monthly payment that will be due. The payment term will be 36 months from the date of delivery. Payment is taken in two stages, firstly a one-time deposit prior to the order of the car, and secondly a monthly payment that covers finance, maintenance, tax and insurance costs.
4
Purchasing
Once all co-owners have settled their deposit, we order the car from the main dealership in the area. All vehicles will be purchased with a manufacturer guarantee to safeguard against costly failures. We manage all our cars on a PCP finance scheme as this provides the lowest cost of ownership and the easiest exit strategy at term completion.
5
Delivery
When the car gets delivered it will be available to book through our booking system. This is when you can enjoy your purchase. As per our terms, you are entitled to your proportion of ownership per month, which is booked on a first come first serve basis. For example, for a 25% share, you would be entitled to one week per month. This is also when your monthly payments will start at the agreed-upon rate.
Before every change over between co-owners, we thoroughly clean, inspect and log the vehicles condition to ensure our co-owners have immaculate vehicles and seamless service.
Throughout the term of ownership we manages all fixed expenses related to the vehicle. This includes Motor Tax, Insurance, Tyres and brakes (At set intervals). The costs of the above are included in your monthly payment.
We insure owners in a fashion similar to fleet insurance. This provides comprehensive cover for the driver and vehicle in the event of an accident. For this reason, insurance costs may vary depending on the individual and their driving record.
6
End of Term
At the end of the term, the car will be returned to the dealership as per the PCP agreement. This will coincide with the finishing date of your monthly payments. Firstly The dealership will inspect the vehicle upon return to make sure it is in good condition and hasn't exceeded the pre-agreed mileage limitations. Any damage apart from normal wear and tear may result in extra fees, however this is very unlikely as we will monitor and inspect the vehicle throughout the ownership period.
Once the car is returned you will have no further financial obligations. This type of contract provides convenience and a guaranteed exit strategy.