Naturally, there are many important considerations in owning a Porsche in a Syndicate scheme. Our Syndicates feature a User Agreement and a Deed, which are available on request. These describe every aspect of Syndicate structure in detail and provide a proven legal framework for secure Porsche ownership.
Each syndicate is formed as a unit trust with a corporate trustee. There are typically four equal units in each trust with each unit holder sharing beneficial ownership in the Porsche. Only the four unit holders, the management company (that’s us) and service technicians shall drive the Porsche.
You apply and on successful application, pay your deposit. If you are one of the first two successful applicants (in a new Porsche syndicate) you will have the option of attending a Porsche dealership and choosing the options on the vehicle. The vehicle shall be ordered on completion of the third successful application. A full payment, including the purchase price of the vehicle, is required by the delivery date. Payments may be made directly or financed. The vehicle is delivered and the Syndicate term begins. Note that all applicants must consent to a criminal record and bankruptcy history, insurance history check. It's important that we have the right people in our syndicates, both for your peace of mind and our management of the syndicate. Unsuccessful applicants will have their application fee returned, minus a small administration fee. At the conclusion of the syndicate term (typically three years) the Porsche is sold and all four owners share in the capital raised.
The below costs are based on a Syndicate consisting of four units, over a three year term.
Application Fee – $1500 + GST. This fee covers our searches (bankruptcy status/history, criminal records check and insurance history/quotation), legal fees and accounting fees associated with the construction of both the Unit Trust and the Corporate Trustee
Management Fee – $140 + GST per week, per unit. Payable quarterly, in advance. This covers garaging, cleaning, delivery and management of maintenance.
Annual Accounts, Compliance. This fee shall be share equally amongst unit holders to cover the cost of accountants compiling the required compliance and BAS reports. - $30 +GST per month per unit.
Maintenance, Insurance and Registration. Maintenance and Registration costs shall be shared equally amongst members. Insurance costs shall be shared proportionally according to the quotes obtained at the time of application. It is strongly suggested that tracking device shall be purchased and fitted on purchase of the vehicle with unit holders sharing the cost equally.
You get to drive your Porsche for at least 84 days per year, up to 7000km per year. Additional days are also available at standby rates. Your Porsche will be garaged, detailed and delivered to your door via float when required. Organising maintenance, registration and insurance are all covered by your weekly management fee, meaning your only job is to drive your Porsche . As each unit holder has a significant financial stake in the vehicle and the vehicle receives a detail after each use, the condition of your Porsche at the conclusion of three years shall allow for maximum resale value. At the end of the three year term you have the option of upgrading to another Porsche, purchasing the car outright, rolling the Porsche into a new syndicate or taking your capital into another venture. Porsche ownership made perfect!
Call us today on 1300 991 181 to discuss your Porsche ownership.