Who doesn't want to feel like a million bucks by driving a luxury car? Whether you need a temporary boost of confidence or want to own a high-end vehicle, there are several options available that can help you accomplish your dreams! However, if you're unsure about renting or buying a car, you may wonder which option works best for you. After all, purchasing a luxurious vehicle isn't cheap, and even renting one can cost you anywhere from $100 to $500 a day, with some exotic sports cars going over $1,000 per day.
In order to make a confident decision, it's essential to look over your finances and determine which opportunity fits your budget. If you take your preferences into account, that can also help you narrow down your choices since you'll find a solution that meets your desires. For example, if you just want a luxury exotic car to drive around town for a while, then the obvious recourse is to rent a vehicle for as long as you want and can afford. But if you'd like to own an elite car, you must ensure you look at various options and avoid buying the "coolest" one you see. Research for different prices, the durability / performance of the vehicle, and its fuel efficiency to find the greatest supercar in the market. If you need assistance searching for an appropriate vehicle, consider talking with a salesperson for information on specific models or contact a car buying service for help researching a luxury vehicle.
Regardless of where you're leaning towards, there are some popular exotic choices among car enthusiasts that you can rent or buy today. The price for each vehicle can vary from state to state, but many Americans choose a common list of cars when contemplating an upscale vehicle.
Check out the top 10 luxury exotics to rent or buy wherever you are located:
- Aston Martin Vantage
- Lamborghini Aventador
- Ferrari 488 GTB
- Porsche 911 Turbo S
- McLaren 720S
- Bentley Continental GT
- Mercedes-Benz S-Class
- Rolls-Royce Ghost
- Maserati Levante S
- Chevrolet Corvette Z06
Keep reading to learn different things to acknowledge before you get a premium car and discover some suitable places where you can find the vehicle you are yearning for.
What are Some Things to Consider Before You Rent or Buy a Luxurious, High-Performance Car?
Getting an exotic vehicle is an immense decision that requires a lot of thought beyond the price tag. Even if you are thinking of renting a luxury car, there may be some costs you didn't anticipate that may require you to drop a pretty penny! For example, elite vehicles need routine maintenance like regular cars, but the expenses can be pricier because high-end vehicles may warrant unique parts that aren't easily accessible or require the skills of a specific mechanic. In fact, the average maintenance and repair costs for luxury vehicles is $10,031 for over 10 years, which can increase depending on the sports car you own.
Although exotic vehicles offer a higher level of comfort, equipment, and features than older cars, they may actually depreciate quicker in value! As soon as you drive the car off the dealership, it can lose around 20% of its value in the first year of ownership, which can be a significant drawback since you'd get less money if you sell it or trade it in after buying it. If you buy a luxury vehicle and don't make large payments on your auto loan, you can end up owing more on the loan than the car is worth. Additionally, if you trade in an exotic vehicle with a dealer, you may get less value towards your next purchase because of the challenges they may have of reselling a premium car, resulting in a smaller profit margin.
When renting a luxury exotic vehicle, you may also deal with more challenges than the daily payments you'll make for the rental. Generally, rental car insurance from credit cards may not cover pricier vehicles, so you may have to look for a good deal with the rental company or talk to your personal insurer. You may also have to prepare a significant portion of your budget to rent a sports car since you may have to cover a large deposit to take it out of the lot.
No matter what your decision is, there's a lot to consider before renting or buying an expensive vehicle. However, if you purchase a luxury vehicle and need cash for an emergency, you can use it to get online car title loans in California as well as other states that allow them to get financial relief. Just make sure the vehicle has sufficient equity to qualify for this type of secured loan.
Call a financial advisor today if you need help determining the best car for your budget, and whether renting or buying a luxury exotic vehicle fits your overall financial plan.
Where Can I Rent or Purchase a Fancy Sports Vehicle?
If you're thinking about renting or buying a luxury exotic car, then you might assume it's something only for the super-wealthy or exclusive clubs. Luckily, that's anything but the case. You can find several websites and companies where you can get the vehicle you are looking for without going through other channels to have one. In truth, if you want to rent a hypercar, you can visit all sorts of places, from Enterprise Rent-A-Car to SIXT Luxury Car Rental to get that show stopping vehicle. However, many people nowadays use apps like Turo to rent an existing car owner's vehicle and avoid the headaches of waiting in line. With this option, you can easily just decide to have the vehicle delivered to your door or pick it up at the drop location, and you are ready to go! You may also find that renting cars on Turo can be relatively cheaper compared to traditional choices.
But what if you want to purchase a high-end vehicle right now? Normally, car dealerships are the best way to get your hands on luxurious vehicles, but there are other options you may not be aware of, such as auction houses and online marketplaces. If you go with an auction sale, it's almost exactly as you'd think, except there are a few auctions like Copart that offer vehicle inspections and brokers to help you with your purchases. However, if you want to buy a car online, there are various marketplaces to choose from, including:
- duPont REGISTRY
- iLusso
- Prestige Imports
- Exotic Car Trader
- JamesEdition
Check all the options thoroughly when you are going to rent or buy a luxury exotic car. Be sure the sellers or renters are transparent, and that what they offer matches what you can pay for. If you feel confident about getting a supercar, all you have to do now is go online and look for the perfect way to get your upscale vehicle.
Bottom Line ⎼ Be Financially Savvy When Renting or Buying Luxury Exotic Cars
The opportunity to drive a pricey exotic vehicle can be exciting when you are a car enthusiast. Not only will you have a car with high performance, but you'll potentially have a vehicle that many people may not have at their disposal. However, don't let your excitement cloud your judgment! When searching for a hypercar, ensure you find an option that aligns with your finances and make a rational decision about your purchase. If needed, you can talk to a financial expert online for guidance on this journey to stay firm with what works for you and your budget.