Cars "for loan"

[tim]

I've noticed a few of these ads on Car & Classic. Feels like a scam or some kind of weird dodge. You basically give a deposit and "borrow" a car for an unspecified period of time, and split any money you make with it with the lender.

example
https://www.carandclassic.com/l/C1821210

[Rich B]

Yeah, i’ve read it several times and still don’t get it.

Quite simply, you borrow the car, absolutely free of charge, after paying a minimum goodwill deposit of £1000.

[Mito Man]

What's stopping you from beating the crap out of it, selling the cats, then returning it after a year when it's only fit for scrap and telling the chap he can keep his deposit?
Doing business with a simple gentlemen's agreement, what could possibly go wrong

[Rich B]

Yep, and that’s just worse case stuff - what about basic stuff like insurance?

[ZedLeg]

Presumably it’s just a scam ad and if someone pays the grand all trace of it will disappear?

[Jobbo]

The 'requires minor recommissioning' sounds very inconsistent with the rest of the dodgy deal. Wonder if they'll take crypto in payment?

[GG.]

Completely bizarre. Not even obvious what tax or other dodge is behind it.

As you say I can only assume you wire the money and it disappears.

[DeskJockey]

Wonder why the car is "hugely sentimental", and what that's got to do with anything.

Was it an option on the L322?