Buying / Selling

& Leasing A Race Car

The buying, selling or leasing of a race car is a transaction that should not be taken lightly.

The buying, selling or leasing of a race car is a transaction that should not be taken lightly. Unlike the purchase, sale or lease of an automobile intended for street use, race cars and equipment carries with it unique risks that should be addressed in a written contract.

Representations

What representations are being made respecting the car or equipment?

Properly Designed

Is the car or equipment properly designed and prepared for the use that the purchaser intends?

Qualified

Is the purchaser properly qualified to operate/drive the car and/or equipment and does this matter?

As Is

Is the seller willing to make any representations with regards to the car or is it being sold as is?

Safety Specifications

Does the car meet current safety specifications and if not, what is my exposure?

Advertising

Has the seller inadvertently made representations about the car and its fitness for use in advertising or during negotiations that will later cause the seller to be liable should the car fail?

Liens

Are there any liens that have attached to the car or equipment that could impair ownership?

Regardless of the dollar amount involved in the transaction there exist significant risks and liabilities that should be considered and addressed before the purchase/sale/lease takes place. Before you sell that old race car for a few dollars contact our offices for counsel. An ounce of prevention is worth a pound of cure!

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