I am working on a plan to share my car for hot lap events with a coworker (He has an expired nascar licence and is an instructor) so I can afford to start going again. (Daycare is killing me.)

I am not really sure what would be a fair deal. I am thinking of asking him to cover all gas costs for the entire day which includes driving to the track and back. I will continue to maintain the car however. What do you guys think? Any suggestions would be helpful. Thanks!

Howdy,

That seems like a heck of a deal for him... :-)

I think I'd want at least half the operating costs... Gas, tires, brake pads/rotors.

At least. Plus, of course, "you fix it if you wreck it, even if it isn't your fault"

Mark

I did the same with a buddy.
Luckily we were running in different HPDE groups, so it worked out. One thing to watch out for is fuel level and brake pads.
Pre plan fueling at the track, since topping off during lunch is not going to make it. Also if your groups are running back to back, you don't always have time to get fuel between your sessions.
Also, make sure to ask him about how the car is doing after each session. I got the car handed over once with the pads shoot. Turn one was an eye opening experiance. (on the bright side, I did find out that I can take turn one a lot faster)
As for finantials, he only came to the track 25% off the time, so when he did we shared the cost of fuel, he got a set of brakes, and he bought some of the parts.