Unless it's your last day on earth.
No matter how you look at it, driving a supercar involves a lot of money. There is no getting around the total costs associated with owning such a vehicle. Some people try to circumvent the expenses of long-term ownership by renting a supercar for vacations, special events, or just to be able to feel cool for a day. However, there are some serious considerations to take into account before putting your signature on that rental agreement.
Age and Licensing Restrictions Some rental car companies will offer a car to a person in their late teens or early 20s, but most supercar rentals have a minimum age requirement of 25 before your request will be considered. You must have a valid driver's license and, for most companies, a clean driving record. The rental agency may even perform a criminal background check before renting a supercar. Some companies require the renter to undergo a specialized driver's test before releasing the car.
If required, such tests are usually quick and straightforward, but if you fail to pass you will find yourself going home without the supercar. It’s just not worth it to spend half of your vacation at the rental place trying to get the car. Rental and Insurance Costs After you've met the minimum age and licensing requirements, it's time to consider the total cost of renting a supercar. Initial deposits can cost anywhere from $1,000 to $50,000, depending on the make and model of vehicle, your geographic location and the rental agency's policies.
The exact amount of the required deposit will be reserved on your credit card at the start of the transaction, and it will be released back into your account shortly after you return the car. You'll need an active personal auto insurance policy that specifically extends coverage to supercar rentals. While most personal auto insurance policies cover general rental vehicles, many do not include exotic or sports car rentals. You may be able to receive rental car insurance through a credit card, but most major cards do not cover supercars.
Out of American Express, Visa, MasterCard and Discover, the only card that offers insurance on sports cars is American Express. Finally, you'll be faced with much higher rental fees than those attached to a company's regular fleet of rental vehicles. Basically, you’ll be hit with an extra fee for just about anything. Too many miles driven in a day? Fee. Speedometer goes above 80, 90, or 100 mph? Massive fee. You may be able to secure a basic rental car for less than $100 per day, but an exotic sports car will cost you much more. Most supercars consume fuel at a higher rate than other vehicles, so you could be looking at hundreds of dollars per day.
Overall Enjoyment Ultimately, you're probably not going to find the same level of enjoyment in renting a supercar as you would by purchasing one outright. Many drivers seek out supercar rentals because of their speed, but they can be detuned, governed and controlled by rental agencies. If you find a supercar capable of reaching triple digits, you'll have to pay for a day at the nearest test track to be able to enjoy it legally. That way you’ll get a much better experience and can still feel the true speed. At some places, you can get three laps in a Ferrari for under $200, plus some insurance costs.
That’s a much better deal. As you can see, the costs of renting a supercar quickly add up. Once you consider the costs and contrast them with the overall enjoyment you'll receive in the end, it might not be worth it after all.