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Borrowing Power
It's popular to buy a piece of a private jet, a piece of a yacht, even a piece of a racehorse. Now a Boca Raton man, hoping to capitalize on south Florida's love affair with fancy wheels, is launching Collexium, a business that offers shared use of luxury cars through a club.
Founder and CEO Blas Garcia Moros, a car enthusiast and former Microsoft executive, plans this month to open Collexium's clubhouse and garage near Fort Lauderdale/Hollywood International Airport. Membership is by invitation only. (Charter members include Manny D. Medina, CEO of Terremark Worldwide, and John Henry, principal owner of the Boston Red Sox.)
The initiation fee is $15,000, and dues are $15,000 a year. Members will use points to borrow from a fleet of dream cars for about 30 days a year. New Year's Eve, for instance, will require more points than a Wednesday in August. An initial collection of 10 cars includes a Lamborghini Gallardo, a Lotus Elise and an Aston Martin V12 Vanquish.
Moros envisions eventually having about 100 cars for 500 members. "It's cumbersome to have your own collection, and it's capital-intensive," says Moros. This way, car fans can have access "without the financing cost, depreciation, service and maintenance."
