Article: Dublin firm to launch super car club

Seth Brundle

from http://www.sbpost.ie/post/pages/p/story.aspx-qqqt=IRELAND-qqqm=news-qqqid=18280-qqqx=1.asp

22 October 2006 By Adam Maguire
A Dublin company hopes to rent top of the range vehicles to wealthy car enthusiasts in return for an annual fee when it launches at the end of the year.

The membership-based club, called GT250, will offer access to a fleet of high-end cars for between €23,000 and €30,000, including a joining fee. The club plans to launch with 20 members and five cars, with more being added as time goes on. ‘‘We’re still testing the market, but we have members signed up and others showing an interest,” said company founder John Byrne. He said seven people have joined so far. ‘‘The target market really is the high disposable income market; people with an executive background or self-made individuals.”

Membership is split into three categories – private 1, private 2 and corporate. Based on the category they pay for, members will be allocated a number of points per year, which they can then use to hire the cars. Depending on the day, time of year and type of car, a one-day rental costs between six and 50 points. In his first year, Byrne is expecting to spend a total of €2 million on the venture, much of which is coming from a number of silent partners. This includes obtaining the cars, as well as paying VRT, insurance, maintenance and storage costs. Given the high annual cost, Byrne said the rental service would be a niche product.
‘‘It is open to everybody, but I realise it is very expensive and it’s a big commitment, so it really is going to be at the higher end of the market,” he said. Despite the expense, however, Byrne believes that the club is a cost-effective alternative to renting expensive cars on an ad hoc basis.

‘‘There’s nowhere in Ireland that would let you rent out a Ferrari F430 or anything similar, and even if there was, there’d be a huge deposit to put down on it,” he said. ‘‘We worked out that it would cost around €400 a day to rent from us but if you go to a car hire company that specialises in these cars, you’re looking at over €1,000 a day.”

drdre

Does anyone know any more info on this club.Is it out yet, Any webiste and what kind of cars are tgey going to be renting out for 400 euro a day.That seems cheap compared to the uk.

Spit62500

I think that the 400 euro a day has been worked out as an average daily charge for your useage after you've paid your 20 to 30k. In the UK its dearer in comparison because its once off hire with no ongoing commitment Personally, if I had that kind of money to spare, I'd buy a decent classic supercar for 20 to 50k. The membership to that club is dead money whereas you'll always have an asset if you buy your own. Horses for courses though...

drdre

Spit62500 wrote:

I think that the 400 euro a day has been worked out as an average daily charge for your useage after you've paid your 20 to 30k. In the UK its dearer in comparison because its once off hire with no ongoing commitment Personally, if I had that kind of money to spare, I'd buy a decent classic supercar for 20 to 50k. The membership to that club is dead money whereas you'll always have an asset if you buy your own. Horses for courses though...

it is dead money but you get more choice.