The life of an exotic car enthusiast is often filled with daydreams of the next time they can hit the road in style. There’s nothing more thrilling than the opportunity to get behind the wheel of a car that represents impeccable standards of luxury and style.
While the appeal of owning a luxury vehicle may be vast, it’s important to consider the true cost of owning an exotic car before you head to the dealership. Buying a new exotic car is enticing, but there are specifics to the process that you’ll want to be aware of. Those buying a used exotic car will also want to consider the costs before making the leap and signing on the dotted line.
Where and When to Buy an Exotic Car
Prospective exotic car owners looking to buy new often set their sights on brand-specific dealerships. When determining where to buy an exotic car, be sure to familiarize yourself with the many fees dealerships tend to charge for new purchases well before you set foot on the lot.
It’s also important to understand that many new exotic cars are only available on a waitlisted basis. Brands like Porsche, Ferrari, and Lamborghini make limited-edition models feel much more exclusive in this way. Waitlists may prioritize owners who have purchased new cars from the dealer before, making the buying process more expensive and time-consuming than originally anticipated.
Buying a Used Exotic Car
Prospective luxury car owners looking for exotic cars for sale through channels that feature used models may find the available price points to be less intimidating. Used exotic cars are often sold by enthusiasts who are looking to upgrade to newer models or to swap out a section of their existing collection. This practice gives potential buyers a solid chance of finding a used model at a good price, all while enjoying a vehicle that is in nearly new condition.
While the upfront cost of a used exotic car may be appealing, buyers should always keep in mind that a used vehicle will generally require more maintenance earlier on than it might when buying a new exotic car.
Other Cost Factors to Keep in Mind
Whether you buy new or used, the costs of owning an exotic car are sure to extend beyond the initial price tag. From insurance costs to general maintenance requirements, exotic cars require a more significant investment.
Exotic cars are known for their one-of-a-kind interior and exterior features. While these designs are endlessly intriguing, they also required specialized maintenance that can be costly. Even simple oil changes may require model-specific knowledge and may cost upwards of $500 on a vehicle like the Ferrari F430.
Taking Exotic Car Ownership Seriously
Understanding the true costs to owning an exotic car makes for a well-informed buyer. When you know what type of investment to expect, you can focus your plans on learning about the brand that speaks to you without having to worry about fees that may pop up to surprise you.