Co-ownership of a Jeep CJ!? Anyone have experience?!?

[MomoJeep]

Hello All,

I want to buy (another) Jeep CJ (7 or 8), but guess what, I don't want to pay for the whole thing!

Bear with me...

I would use this Jeep occasionally. For fun. for running trails. Other than that it would sit un-used most of the time.

Let's say you have two neighbors, and the three of you got together and bought one lawnmower. You simply agree to not use it all at the same time. And some other agreements around maintenance and repairs.

People co-own real estate. That's a much bigger deal!

Does anyone have experience going in an co-owning a Jeep or any other vehicle!?! If do, please share! What was great about it? What was challenging?

 

[Belizeit]

Airplanes. I know a couple of people who have done that and had pretty good experiences with that. Just depends on the people I would say,

 

[certifiablejeep]

If it is with family or neighbors, I would pass... or just own it yourself... someone breaks it and doesn't have the funds to fix it... then it sits, or you have to foot the whole bill? Up to you, but it doesn't sound good... ESPECIALLY with a old Jeep! Everyone's ideas of maintenance and "fixing" it the "right" way are different.

Unless you get lawyers involved and write up a contract, I would pass.
I might sound negative, but if it goes south, then what? You don't end up with a good relationship with neighbors, or potentially not talking to family.

cb

 

[AJ2393]

If it is with family or neighbors, I would pass... or just own it yourself... someone breaks it and doesn't have the funds to fix it... then it sits, or you have to foot the whole bill? Up to you, but it doesn't sound good... ESPECIALLY with a old Jeep! Everyone's ideas of maintenance and "fixing" it the "right" way are different.

Unless you get lawyers involved and write up a contract, I would pass.
I might sound negative, but if it goes south, then what? You don't end up with a good relationship with neighbors, or potentially not talking to family.

cb

x2 I tried this once with some expensive specialty tools. It seemed good in the beginning. Needless to say it did not turn out well. I don't have the tools or access to them and I'm not really friends with these people anymore. Lesson learned. I'd think long and hard before committing to this type of arrangement.

 

[xatu40]

My dad used to do it with airplanes. He did it several times, only once did it turn into a partner issue and the 3 bought out the 4th partner. They had written contracts, defined maintenance budgets, and repairs/maintenance were pretty clearly defined by regulations. It was all fun until one day, there way an emergency landing in the surf and it became quite the salvage operation. Friend of mine called me and said that look's like your dad's plane on the news, sure enough it was, but no worries since he was on vacation 1500 miles away.

Not sure I would do it on a jeep, unless the other guy has a ton of money and he wants you for your jeep knowledge.

 

[mhinchliffe]

hard pass on this one. CB summed it up perfectly, too many what if's.......
Take your time and you'll end up with multiples like some of these guys and the "shops" to go along with them!

 

[Super 8]

It is common with boat ownership. Just make sure you have a good contract that spells out use and cost sharing .

 

[barrys]

Have 2 friends. They owned a boat together. "Bob" could only use boat once a week. "Todd" used it all the time, left fuel tank empty and often the 1 day Bob could use it. Bob bought a newer nicer boat and gave old boat to Todd. Todd was pissed Bob didn't give him a key for new bought. They aren't friends anymore after 20 years of friendship.

Unless they are wealthy and like said, want your knowledge, I would pass on this situation.

 

[Randyzzz]

I agree. Hard pass. No one takes care of your stuff like you do. There's a lot of potential for hidden damage on a Jeep too.

Owner "A" goes wheeling. Incurs minor body damage. At the same time runs the winch to within an inch of it's meltdown point, and toasts the clutches in the rear limited slip.

Owner "B" wants body damage fixed. Owner "A" doesn't think it's bad enough to fix. What to do? So Owner "B" goes wheeling. Gets stuck because the limited slip is burnt, and is unable to winch more than 1 short pull because the motor had been so badly overheated. Owner "B" gets to pay for the damage caused by Owner "A" because it didn't show up until Owner "B" went wheeling. Bad news.

Just say no.

 

[Oakley]

I would say best solution. Buy /build one give it to your wife. Then beg to drive it at every opportunity. That’s what I’m doing 😁

 

[Belizeit]

I would say best solution. Buy /build one give it to your wife. Then beg to drive it at every opportunity. That’s what I’m doing 😁

That's if she isn't always driving it. Wreck it once and you are toast.

 

[ag4ever]

I would only consider a partnership on high cost items, and even then I generally have the option that if I can’t afford it without help I can’t afford it at all.

If you do, better be sure you have legal contracts in place. If your potential partners refuse to sign a contract they will be the type of person to refuse to keep up their end of the agreement.

 

[Chamba]

Airplanes work particularly well for this because the FAA mandates certain levels of maintenance and requirements to keep an aircraft airworthy. No-one waits for an aircraft to break to fix something; maintenance is done on a predictable schedule only by licenced mechanics.

Not so with Jeeps. I tend to be a preventative maintenance guy, where my cousin simply will not fix something until it's completely dead. If he and i had a jointly owed Jeep it would be a nightmare. I'd notice the starter slowing slightly and want a new battery, he'd laugh and say not a chance. When we finally replace it, I'd want an Optima, he'd want a Walmart special.

Finally, planes are flown thorough the air in very predictable and equal ways so they are rarely abused; Jeeps are often abused.... especially when they fly through the air. Likewise boats are used in very predictable ways. It's the unpredictable nature of Jeeps which would make me run very, very fast away from joint ownership of a Jeep.

Enjoy the Jeep you have and keep making it better and better. Leave the rental Jeep market to the renters.

 

[AdamH]

I had 3 buddies that did this with a pontoon trailer. All kept their boats in the water but wanted to be able to take them out for cleaning / maintenance so agreed to all go in on a trailer together and share it. You're talking about $1k each for a nice trailer (back about 10 years ago). These guys had known each other since kindergarten so over 25 years.

None of them talk to each other now. Over a dayum trailer. I was on the sidelines watching it unfold. Only took 2 years for it all to go south. And that was just over a trailer.

 

[Belizeit]

I remember my dad telling me as a very young adult, never lend money to a friend. Because you probably won't remain friends. And try to never borrow things, unless you are prepared to buy them a new one if you break it.

 

[Randyzzz]

I remember my dad telling me as a very young adult, never lend money to a friend. Because you probably won't remain friends. And try to never borrow things, unless you are prepared to buy them a new one if you break it.

My Dad taught me the same. “If you can’t return it in the same or better condition than when you borrowed it, then buy them a new one.” I’ll never forget that.