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Originally Posted by Chrisjs
I think you should have a well-written (legal) agreement...
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Absolutely.
Quote:
Originally Posted by Chrisjs
I would guess this arrangement works best between good friends...
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Actually, I'd say that at least as often it works best between strangers who all treat it as a simple business arrangement. Kind of like the way borrowing money from strangers usually works out better than borrowing money from friends.
As others have mentioned, key is having partners who have similar attitudes about various aspects such as how much insurance should be carried, what kind of routine maintenance should be done, and so on. Another useful quality, if you can find it, is different desires when it comes to using the asset--like one who prefers weekdays and another who prefers weekends.