Whether you’re looking to make an impression on the streets or party with friends, there are exotic cars for you to rent. However, these cars don’t come cheap.
Gotham Dream Cars does a background and credit check to ensure their clients are reputable and takes a $10,000 deposit. Many other rental companies require similar checks.
They’re Worth Is Expensive
While it’s possible to rent a BMW 7 Series or Mercedes AMG C63 through some significant rental companies for around $500 per day, renting a Lamborghini Huracan, Rolls-Royce Ghost, or Ferrari for a weekend trip is significantly more expensive. Exotic car rentals can cost tens of thousands of dollars to acquire and rent out for a few days.
To make this business model work, operators need a vast inventory of exotic cars to meet demand, and they typically buy new vehicles and keep them for a few years while they are under warranty before selling or renting them out. Houston Crosta of Royalty Exotic Cars started his company in 2015 with a single Lamborghini and now has a fleet that looks like a bag of Skittles. His typical daily rates are around $1,800 before add-ons and a hefty security deposit.
He says many customers are wives and girlfriends who want to surprise their husbands and boyfriends with a unique birthday or anniversary gift. Another standard client is a 30-something male small-business owner who doesn’t have the disposable income to own his own sports car but wants to tool around in a high-performance vehicle on weekends and special occasions.
Running a specialty car rental company isn’t for the faint of heart, however. It takes a lot of cash to buy the cars, keep them in tip-top shape, and provide insurance for all their customers. Then, there are taxes, fees, wear and tear, and maintenance costs.
YouTuber Rob from SuperspeedersRob has a video that breaks down how much it takes to fund the initial operation of a specialty car rental business. He points out that it isn’t for the faint of heart because buying the inventory takes a significant investment, and you will likely lose money at first until you can turn a profit.
They’re Fun To Drive
Exotic car rental companies like Monza Exotics car rentals offer a unique way for people to experience the thrill of driving high-end vehicles without making a long-term investment. The companies also allow people to choose from various cars to find the perfect vehicle for their specific needs. In addition, renting an exotic car can be cheaper than buying one and saving money on maintenance costs and depreciation.
Exotic cars are street-legal high-performance sports cars that can be rented for a day or weekend at a fraction of the cost of owning one. They often have a unique design and high-performance specs that set them apart from other vehicles on the road. In some cases, they can reach speeds of up to 250 mph.
Many people who want to drive exotic cars don’t have the means to buy one. Buying a used car can be expensive, and borrowing from a friend isn’t always safe. In addition, some luxury cars have higher maintenance costs or depreciate rapidly over time. Renting an exotic car can be a much more affordable way to get behind the wheel of a unique vehicle.
To protect their expensive fleets, exotic car rental operators must go above and beyond the usual safeguards. Gotham Dream Cars, for example, does a criminal background check, a driving record check, and a credit check before renting out their cars. They also require a security deposit to ensure their vehicles are in good hands.
Running an exotic car rental business can be lucrative for the right person. However, it isn’t for everyone. In a recent video, Rob from the YouTube channel superspeedersRob breaks down the steps needed to start an exotic car rental business. He advises learning the industry, working hard, and reinvesting profits into the company. This process won’t lead to overnight success, but it will help you avoid costly mistakes and build toward a profitable future.