Cartel selects cars that have the best profile to defend the capital investment, maintain sensible running costs and give you the most fun to own. But more than anything the ideal Cartel Car is the one you never thought you could own. The expense of buying it outright would have never made sense financially but now thanks to Cartel, the cost of the car and the significantly reduced cost of ownership means you can get into your dream car today.
Frequently Asked Questions
2. Is this a subscription service?
This is not a subscription service, car club or lease where the car could be thrashed by anyone and you walk away with nothing at the end. Cartel is real ownership of your asset with up to 3 other carefully selected owners through syndication.
3. Do I meet the other owners?
Yes, you will meet the other owners at the handover session conducted by our staff when we introduce you to your new car and run you through the features.
4. Can I create my own syndicate?
Absolutely, if you have 3 other friends or colleagues you specifically want to share a particular make and model of car with, please get in contact.
5. Can I buy more than one share in a car?
Yes! If you are keen to spend more time in the car you can buy half or three quarters of a share in the car. More ownership also gets you more time in the car. Normally the car would be returned to Cartel HQ for 2 days between weekly bookings but if you own more than 25% and have consecutive bookings you would be able to keep the car for these additional days..
6. Can I own it in in my business’ name?
Yes, Part ownership can be put through a business but that doesn’t mean it’s free for any employee to drive. The insurance policy must list all drivers. There would also be some potential cost benefits in running it through a business which means the ownership is even cheaper again.
7. Can I syndicate my own car?
Unfortunately no, Cartel is syndicating new or near new cars with full warranty coverage. But that won’t stop you selling your car and getting into a new one through Cartel.
8. Can I spec my own car?
Car specifications will be dependant on what is available in country if the Syndicate is keen to get into the car sooner rather than later. Alternatively, if everyone is prepared to wait for a specific build then the car specifications could be selected provided all owners are agreeable on the final specification.
9. How do I book?
Bookings will be made through your user portal on the Cartel website which is available on desktop and mobile
10. How many days do I have per month?
Each owner has 3 weekdays and one weekend per month which is preferably used in a straight block of 5 days in a row. The un-used 2 days per week are top allow cartel to maintain your asset between bookings
11. What happens if I make a booking over a public holiday?
Public holidays are treated as weekdays on the booking system. First in best dressed for these days. There are however no collections or returns to Cartel on public holidays.
12. Is there after hours pick / up drop off?
This can be arranged on a case by case basis for a fee of $99..
13. What happens if one owner stops paying?
Each potential Cartel owner is financially assessed before being allowed to purchase part of a car on our platform. We carefully curate owners to ensure they don’t have issues with non-payment in their credit history. Cartel will also collect a refundable security bond off each owner. In the unlikely event that an owner doesn’t meet their ongoing financial obligations the bond can be used to cover several months or payments until the money is recovered OR a new owner is found to take over the equity of the car.
14. Do we have to finance the car?
There is no requirement to finance the vehicle however each owner will still be required to go through the full sign up process which includes a credit check. This makes sure each owner is financially fit to cover their ongoing payment obligations outside of the vehicle finance.
15. What happens if there is a big mechanical issue?
Cartel cars are new or near new so are covered under manufacturers warranty. If the car suffers a mechanical failure that is not covered under the manufacturer’s warranty then each failure will be individually assessed against the tracking data to see if the failure is bad luck, a result of the collective wear and tear of all owners or because of the miss use of an individual. In the event that the fault is deemed the misuse of one owner then they will be liable for the repair, however this is highly unlikely and we will leverage our buying power and dealer influence to repair everything under manufacturers warranty.
16. What happens if there is a manufacturer recall?
Certain manufacturer recalls allow the car to be safely driven until replacement parts are available and ready to be installed. In the rare event of a safety recall where the car can not be driven until the car has been repaired, Cartel will endeavour to source a loan car from the selling/servicing dealer.
17. How does insurance work?
Each vehicle is covered by a single insurance policy. The policy pricing will be calculated based on the usual inputs of driving record, age, claim history across each individual driver. So each driver on the policy will most likely not be priced exactly the same. The policy cost will however be approximately one quarter of what it would normally cost you to insure the whole vehicle. Despite the shared cost of the insurance the car will be covered in the event of a total loss. Any claims made under insurance will be attributed to the individual who is driving at the time of the damage and will not affect the driving record of the other owners.
19. What happens if someone else damages something like a wheel
Each time the car is checked in and out of the cartel facility it will go through a strict check over to make sure everything is in as new condition. Any minor damage sustained during a booking is the responsibility of the driver and will be paid for provided the damage doesn’t warrant in insurance claim. Any minor repairs will be organised by Cartel staff with our trusted repair partners.
20. What happens if the car is written off?
The balance of the financed amount will be paid off with the insurance payout and the syndicate on that particular car will be completed. A new syndicate with a new car can then be started provided all owners want to go again.
21. How does the telematics/tracking work?
The car will always have it’s GPS location tracked as well as a range of vehicle data that will allow Cartel and the other owners to determine how and where the car has been driven. At the end of each booking a report will be circulated amongst the other owners as a means to keeping each other honest and to ensure you are abiding by the Cartel code of conduct.
22. How do we maintain the car?
The car will be serviced according to the manufacturer guidelines and it will be serviced by the selling dealer or an experienced local specialist. Consumables like tyres and brake pads will be assessed frequently and replaced when required if this needs to be done at times other than the service interval.
23. How does Cartel manage maintenance and tyres?
The founders of Cartel have operated vehicle subscription, car share and other platforms and has an end to end technology platform that integrates driver behaviour, remote vehicle diagnostics and even driver scheduling. Having been immersed in the emergence of fractional ownership our team will manage expenses based upon driver behaviour and overall usage quickly and easily.
24. What happens if I want out early?
Cartel will have a marketplace where shares in cars with ongoing agreements can be bought and sold.
25. How many km do we have to use?
Usage will be agreed between the Syndicate, We suggest 5,000km per driver per year.
26. Can the car be used on track days?
The cars currently cannot be used for track events. We are investigating insurance coverage for track events in future
27. How do you sell them?
Cars can be purchased at the end of the term by one of the shareholders if they really want to keep it and a fair price is agreed between the group. Otherwise the car will be sold on carsales.com.au or an alternative suitable disposal channel.
28. Do we have control of the selling price? What if the other owners think it’s worth too much and it takes a long time to sell?
The car will be valued by three independent bodies to gauge valuation, aim is to achieve over or close to this amount.
29. Does the car get sold before the finance balloon is due at 36 months?
At 30 months Cartel will begin the re-marketing strategy on behalf of each syndicate. This then allows us to sell the car within the warranty period and before the finance balloon payment is due.
30. What happens if we sell the car above the depreciated amount?
Any profit made at the sale of the vehicle will be split evenly amongst the 4 owners
31. What happens if we sell the car below the depreciated amount?
Cartel will set a conservative threshold on the depreciated amount so this scenario should never arise however, any loss made at the sale of the vehicle will be split evenly amongst the owners. Your security bond can be used to cover this if requested.
32. What are the costs?
The single monthly payment combines the vehicle finance, Insurance, Maintenance and Storage & Cleaning as well as the Cartel management platform.
33. Can one of the 4 shareholders store the car if they have secure parking?
No, the car needs to be checked by Cartel between each booking to ensure we can carry out our usual checks for damage etc. and so that we can also arrange maintenance and other tasks
34. Do you do classic cars?
Not initially but we will be in the near future.
35. Where is Cartel available/planned?
Cartel will be launched in Sydney first and then move to other major cities following that.
36. Will there be a pick up and drop off service?
Yes we are planning on offering a Cartel Concierge service which will drop off and/or collect the car for your bookings. This will be priced according to distance from the cartel facility on a case by case basis
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21 Central Ave, Manly NSW 2095 – Australia