New supercar-sharing scheme cuts the cost of exotic ownership
23 January 2007

It may sound too good to be true, but you could own a genuine supercar – or at least share one - for less than £10,000 per year. A new Leeds-based outfit 12thshare.com is offering supercar fans the chance to buy a stake in a Koenigsegg CCX, Ferrari 599 GTB, Lamborghini Gallardo or a Bentley GTC for much less than it might cost to own and run your own £100,000 slice of exotica.

The company deals in what it calls ‘shared or fractional ownership’. Groups of like-minded enthusiasts can jointly purchase a supercar and share its ownership over 12 months. Once the year is up, the car is sold and the proceeds distributed back to them.

Having written out a cheque for 8.4% of the cars asking price, twelve owners each receive the keys to “their” car for 27 days of that year. 12thshare.com charges a management fee that covers servicing, maintenance and insurance, so there’s really only petrol and speeding fines to pay for on top. Owners from different groups can even swap days to try out each other’s cars.

For more information on the scheme – and presumably for help tracking down 11 others you’d trust with your most prized possession – visit www.12thshare.com.

Michael Parchment

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