App allows you to partially own a collectible car
Allowing anyone to invest in a vintage vehicle, this app allows you to own a (very small) part of a classic for as little as $40.
Rally Rd., only available on iOS (sorry Android users), is an app that helps you find collector cars to invest in through your funding source. The roster of cars available is selected based on what they consider to be a good future investment, based on historical significance, rarity, condition, and so on. Unfortunately, even though you own part of the car, there won’t be any wheel time available to any of the investors, so it’s not a timeshare for collectibles situation, it’s essentially just all about the money you could make.
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The vehicles up for investment are housed in a climate controlled warehouse at an undisclosed location, but from time-to-time, they’re also displayed in a showroom in 250 Lafayette Street in Manhattan, NY, that’s open to the public on Saturdays.
When you register for the app, you’re offered listings of cars that need funding, or you can browse through listings that have been fully funded, if you’re just interested. Additional details about the cars are offered when you select one by swiping up, and users are shown images, specific timeline details about the car, and a comparable-asset chart.
Once you’re ready to buy-in on a vehicle, it’s really no different from buying stock in a company. Shares vary by vehicle, and, just like with any investment, there is a level of risk involved and no guarantee that you’ll actually end up making any money before you decided to sell, or if the company decides to liquidate.
All the standard investor realities aside, this is a much more interesting way to invest money than most of the other options out there - sure, you could invest in a dry cleaning chemical company, but where’s the fun in that? Even just the novelty of having some pictures saved of ‘your’ Lambo in your phone and a story to tell might make this a fun thing to participate in, even if it’s just a small amount invested.
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