Certificate Holders Buying SRT-10 With a Partner

[VOI9 ASP]

Just a thought?

Is there any reason that those of you that are unsure about keeping your SRT-10 can not purchase the car with a friend where both of your names are on the ownership? This way one of you could sell your interest to the other at a later date for what ever price you choose? One of the owners could be a $10 owner and the other could be a $84,000 owner. Your percentage of ownership would be known by you and your partner only.

We sell homes to multiple owners often in our business and both names are on the ownership. I don't believe there is anything in the rules that say you have to buy the car by yourself is there?

 

[C O D Y]

Jerry,
Forward your address to me and I'll send you my $10.

 

[FrankBarba]

jerry...this is already being done. i have talked with several viper owners that are doing this. maybe owners that are purchasing 2 srt's can do a time share with the 2nd car.

 

[Tom and Vipers]

I've heard of the 2name thing, but has anyone actually done it and has DC accepted this. In fact, what are the DC instructions for the SRT sale?

 

[George Murray]

I have been offered a 50% interest. Haven't decided yet if I'll do it. Car isn't yet built, so there's plenty of time to ponder it. In any event, it ain't yellow...

Otherwise, I'd be spending my time on the Slant Six Aspen/Volare BBS instead of here ;-)

 

[Joseph Houss]

I believe this would vary from state to state based on the titling and registration laws.

 

[Mike Brunton]

Interesting concept... although if, as you said, the owner has a $10 interest and the other has an $83,990 interest, then do both parties need to title the car? What if they are in different states?

 

[VOI9 ASP]

Mike - The $10 example was an exazageration. I guess what I meant to say was if two people went in on the car, one of which being the certificate holder - they would be able to do what they wish after the sale. This should satisify the certificate holder condition of purchase. I don't see why a person from Nevada and another from Florida could not buy a car together. This is America. Although it would have to be registered in one state I'm guessing.

Joe - Congrats on taking over as President - Happy New Year!

 

[Mike Brunton]

Oh yeah, I forgot about Joe!

Congrats Joe.... and good ridd... ok, I'll bite my tongue

Thanks for the info Jerry - I will ask my dealer about this concept.

 

[Viperrick]

I am not aware how other states operate but in Illinois they will list two owners on the sales contract. For instance...if the person who is buying the car has bad credit and they get a family member to be listed on the sales contract so that person can apply for the loan than both people are listed on the purchase document. Now at the point of paying off the loan you can contact the lender and ask them to make out the title in either persons name or both. Just remember if both people are listed than both have to sign it when the car is being sold.

 

[Bill Pemberton Woodhouse]

The issue that keeps this from seldom occuring is more on a legal basis. For example:

You own a portion of a vehicle and your partner decides to have a little too much to drink and he ends up wrecking the car, inflicting alot of damage on another vehicle , and numerous folks are hospitalized. The attorneys can go after BOTH of you, and therefore if you have substantial assets you risk alot in a situation you really weren't involved in. Same reason why it is not done state to state often --- laws are different from state to state ( insurance issues also ).

Family members are more common on a co-sign basis,but otherwise this is seldom done.

 

[Tom and Vipers]

I know Bill, but what are the chances anyone would wreck or run someone over with a SRT?