Buying a true luxury car requires a large income and ample savings. Those who are considering a purchase should think about renting the same or similar exotic luxury car short-term. Let’s take a look at purchasing versus renting.
Purchasing and Long-Term Leasing
Long-term leases are essentially the same thing as buying when it comes to a $80,000-plus car. You are free to drive it wherever and whenever you want. It lives in your garage, and it’s always ready to go for the next party or big event. If you can afford it without going into debt, this is an exciting way to live.
However, if you buy it or take on a long-term lease, every aspect of the vehicle is your responsibility. As you can imagine, the cost of maintaining the vehicle will be higher than normal. You won’t want to take your flashy Aston Martin to a discount oil change place. You will pay top dollar to the best-trained mechanics for simple maintenance such as wheel alignments and brake pad replacements. You have to keep your expensive car in top condition.
You definitely won’t trust just any mechanic with the high performance engine of your Ferrari. Furthermore, you’ll want every replacement item for your exotic luxury car to be made by the original manufacturer. This will drive up the price of every maintenance and repair. Even if it is simply windshield wipers, the price of parts will be higher. For sure, the tires will be unusually expensive to replace, since they have been chosen for an extraordinary car.
Then there’s the cost of maintaining the exterior and interior. The only way to be sure luxury cars hold maximum value is to keep them in pristine condition. It’s unlikely you will want to take your Bentley to the local drive-through car wash. You will want to pay for expert hand-washing and hand-detailing. Instead of $10 a week, you may shell out $100 each time.
Clearly each aspect of ownership will cost you double, triple or more. This can add up fast. If you are already stretching your budget to lease or buy the car, these costs may break the bank.
Renting an Exotic Luxury Car
On the other hand, renting a luxury car allows you to have your fun without responsibility. You can rent your favorite ride for a big event or a vacation. This gives you the chance to try it on for size without taking on the expense of maintaining it.
You can drive one of the most desirable cars in the world without a single care or worry. You can enjoy the pure pleasure of top performance without worrying about when the engine will need tuning. It’s just a rental, and the rental company handles all of that. This allows you to focus on the fun of being behind the wheel. Whether it’s a Lamborghini, a Porsche or some other fast exotic car, the experience can be pure fun.
There’s one other reason that renting may be better than buying. Even if you can afford to buy your dream car, you may find out that it wasn’t what you wanted. Yes, even the most expensive vehicles can turn out to be the wrong fit.
Buyer’s remorse is much more problematic when you’ve invested $80,000 or $180,000 in a vehicle. Unless you are a billionaire, you may have to live with your mistake for a while to make sure you get a decent return on your investment. You don’t want to turn around and sell it at a loss nor do you want to break the lease and pay the penalty.
If you are considering an actual purchase, renting an exotic luxury car is a terrific way to learn about different brands. You can pilot a Rolls Royce one week and check out a Bentley the next. From Audis and Maseratis to Mercedes-Benz and Land Rovers, you can take your time discovering the size, style and brand that really thrills you.
Owning an exotic luxury car may be a dream come true, but renting one is definitely the next best thing. It certainly promises all of the fun with none of the anxiety of ownership.