[mmffg]

Do many residents rent exotic cars such as Ferrari, Lamborghini, Bentley, Aston Martin, Spyker, etc off of the strip or own them?

I understand renting allows you to switch often and experience these cars without the hassle and costs of ownership (which could be well over $30,000 just to maintain a Ferrari each year)... However, residents also have a year round climate and an abundance of exotic car dealerships to get their "fine automobiles" serviced...

Without factoring leasing tax dedctions, etc that someone could argue for owning one, but again weighing the abundance of available exotic rental selections, do most residents rent or just own them???

[airics]

i believe one of the rental companies is dreamrentals... the cost to rent is very expensive over 1,000 for a day and you get 100 miles. yes you see a few expensive cars, usually sitting in the parking garage of the bellagio and the venetian but nothing out of the ordinary.... you mostly see lots of hummers, porsches, mercedes, etc.. on the strip... i have not seen a maybach yet in vegas, yet i saw one sitting at the walgreens in my town of mayfield (cleveland,oh)... nicest car ive seen was the orange lambo sitting at the bellagio..... 0-10mph in 1 second on the strip...

[AA702]

I have customers that have high end cars. I've seen a Bugatti Veyron in one of the neighborhoods. Bently's, Lambos, Ferraris are very common. I've seen an Enzo and a Mclarren SLR also.

[desertsun41]

The last post is right. To rent them costs just over a thousand dollars per day. Some insurance companies will not cover these rentals so they force you to buy suplemental insurance. Insurance you do not need to buy when you normally rent a car.

This weekend I saw a pretty dark blue Lamborghini Murcielago in the parking lot of the 24hr Fitness. He was parked right in a parking spot with all the other Dodge and Hyundi crap. There were shopping carts sitting nearby just waiting to be bumped into it. Car doors from all those non caring and inconsiderate people just waiting to plant door dings into it.

I believe this is the most or almost the most espensive car in the world. They sell for close to $300,000. What kind of fool would bring this car to a parking lot and park in a space near shopping carts and old cheap junk grocery getter cars? I have a normal car and I park way in the back so no idiots ram me with carts or hit my door. This guy obviously did not care.

[dynimagelv]

Originally Posted by desertsun41

What kind of fool would bring this car to a parking lot and park in a space near shopping carts and old cheap junk grocery getter cars? I have a normal car and I park way in the back so no idiots ram me with carts or hit my door. This guy obviously did not care.

The kind of fool that can afford to get it fixed.....

[mmffg]

Originally Posted by desertsun41

The last post is right. To rent them costs just over a thousand dollars per day. Some insurance companies will not cover these rentals so they force you to buy suplemental insurance. Insurance you do not need to buy when you normally rent a car.

This weekend I saw a pretty dark blue Lamborghini Murcielago in the parking lot of the 24hr Fitness. He was parked right in a parking spot with all the other Dodge and Hyundi crap. There were shopping carts sitting nearby just waiting to be bumped into it. Car doors from all those non caring and inconsiderate people just waiting to plant door dings into it.

I believe this is the most or almost the most espensive car in the world. They sell for close to $300,000. What kind of fool would bring this car to a parking lot and park in a space near shopping carts and old cheap junk grocery getter cars? I have a normal car and I park way in the back so no idiots ram me with carts or hit my door. This guy obviously did not care.

DesertSun, many exotics such as the Ferrari Enzo and Bugatti Veyron sell for well over a million dollars.

As far as the $1,000 per day that is actually a bargain compared with ownership. I've been researching buying an exotic such as a Ferrari 360 spider. The cost for a 2004 model would be about $180,000. I would only drive the car 5,000 or so miles a year so I weighed the other costs vs. renting...

Loan PMT after $40,000 down (exotics require 20% down plus tax) 60 mnths @7.5%= $3,206 p/m
Insurance $7,000 per year Geico or Progressive= $583 p/m
Maint/ Repairs $2,000 p/m is what should be budgeted ofr a Ferrari driven 5,000 miles a year.
Total is $6,372. per mo. without factoring garaging, interest lost on my down pmt, or depreciation at another $1,000 a month. So about $8,000 a month to own..

Renting every other weekend (2 weekends Friday-Sunday) costs $5,750 a month for the same car and another $150 for mileage overages...

For me I estimate savings of $25,000 renting the car rather than owning it.

As far as insurance my coverage for my Lincoln truck covers the Ferrari rental. I also found out my AMEX also covers up to $150,000 of the car as well when I charge the rental.

[johninvegas]

Actually, I think one of the nicest "exotic" cars around is the Acura NSX. Reliable, powerful enough (if you get a post '96 model), relatively cheap for what you get and looks to knock your socks off. You can pick up a nice used 99-2001 for around $50-60k--much cheaper than a Ferrari and most people will never be able to tell the difference.

[desertsun41]

Originally Posted by mmffg

DesertSun, many exotics such as the Ferrari Enzo and Bugatti Veyron sell for well over a million dollars.

As far as the $1,000 per day that is actually a bargain compared with ownership. I've been researching buying an exotic such as a Ferrari 360 spider. The cost for a 2004 model would be about $180,000. I would only drive the car 5,000 or so miles a year so I weighed the other costs vs. renting...

Loan PMT after $40,000 down (exotics require 20% down plus tax) 60 mnths @7.5%= $3,206 p/m
Insurance $7,000 per year Geico or Progressive= $583 p/m
Maint/ Repairs $2,000 p/m is what should be budgeted ofr a Ferrari driven 5,000 miles a year.
Total is $6,372. per mo. without factoring garaging, interest lost on my down pmt, or depreciation at another $1,000 a month. So about $8,000 a month to own..

Renting every other weekend (2 weekends Friday-Sunday) costs $5,750 a month for the same car and another $150 for mileage overages...

For me I estimate savings of $25,000 renting the car rather than owning it.

As far as insurance my coverage for my Lincoln truck covers the Ferrari rental. I also found out my AMEX also covers up to $150,000 of the car as well when I charge the rental.

Wow. Just wow to everything you said.

Back east I knew a guy (my next door neighbor) who owned a Lotus Sprite and he said he had it insured on an "on-call" basis. Instead of insuring it for the year, he would instead call the insurance broker on a Thursday and say he would be driving it for the 3 day weekend. With that he would pay a standard one two or three day standard premium. It did remain insured against theft/comprehensive while parked in his garage.

Some RV insurance works this way, especially if you garage it all winter. I have year round coverage on my motor home because we use it constantly all year round.

I just could not imagine paying those numbers you described above for any car. Especially in a place like Vegas where the idiots actually aim for nice cars figuring the expensive ones carry more insurance so they can sue for more.

[mmffg]

To me exotic cars are a work of art. Some people like paintings or statues but I prefer to drive. They're hand made, low production, pieces. There is nothing like the pricless design, incredible sound, and pure awe of an exotic such as a Ferrari.

People often say to me things like "my BMW M6 or suped up Ford Mustang is faster than a Ferrari 360"... That may be true. I doubt it but even if so, it's not the work of art a Ferrari or Lamborghini is... nor will still be considered in 30 years from now.

I know I could spend a quarter of the money on a "hooked up" Corvette to go faster but that's not the point. And I know the Vette get's "attention" but again it's not the point... Well maybe a little...

[WestcoastBrit]

Lotus= Lots Of Trouble, Usually Serious