The concept of shared usage of supercars — from $150,000 Ferraris to $500,000 Mercedes SLR McLarens — is based on a rarefied version of austerity. After all, paying $30,000 or more for an annual club membership is certainly more financially prudent than actually buying one of these cars, which for the most part depreciate drastically as soon as they leave the showroom.

The Vulcan Motor Club, based in New Jersey, owns a dozen supercars, including a Tesla Roadster and a Ford GT40. Vulcan has about 100 members and annual memberships that cost up to $35,000. The founders, Aaron Fessler and Tom Mizzone, are serial entrepreneurs rather than hard-core car enthusiasts, and they began the business in 2007 because they saw an opportunity. Despite the economy, Vulcan has opened a second outlet in Glen Cove, N.Y.

Mr. Fessler said he noticed that the high price of exotics was followed by a precipitous drop of $50,000 to $60,000 once they had 100 miles on them. “For many people, and especially in this climate, it’s hard to justify that expense,” he said. “And people are time-sharing everything else, from yachts to watches, so why not cars?”

[Excerpted from Fractional Life, July 2008]