I think I have the start to a non-flakey LeMons/Chump group. For those of you that have been to the rodeo before, what lessons did you learn about setting up the team/finances/responsibility/etc? I don't mean the car. I mean all the stuff you should have decided before anybody spends a dime. Help me learn from your mistakes. What did you do right? What do you wish you had done different?
Put it in writing, all of it. Who owns the car, who has what responsibilities. How much time is expected of each team member for whatever activities are needed. Set the expectation, again in writing, that none of this investment is a guarantee of seat time, cars break, things happen.
There's actually a really good thread on the topic over on the Lemons forum http://forums.24hoursoflemons.com/viewtopic.php?id=7415
If you're splitting costs as a team, get the money up front. You don't want to be the one doing all the parts buying then when reimbursement time comes your teammate's commitment can change quickly.
The captain / car-owner bears the lion's share of the work, expense, risk and has to have a heap of a dead racecar occupying a garage bay the other 360 days per year.
Thanks for the input so far. The link is a good one too. I hope to get together something solid and not a "one and done"
The best way, IMO, is to finance everything up front yourself if you can (as in you own/pay for it). And then rent the car out to "team members" at a rate that covers the additional costs/wear and tear.
Nothing good ever comes from multiple people owning one car I typically have found, especially where major damage can easily be incurred. It's more expensive initially, but saves you the hardship. Everyone who "rents" to be on your team needs to have a decent "damage deposit" put down in case the car gets hurt.
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