If you want to upgrade from a workaday Chevy to a stylish Cadillac, or from a reliable Toyota to a luxurious Lexus, the process is going to be very straightforward. Simply go to your dealership of choice, pick out the model you want, choose the financing terms that work for you, and you’re ready to drive home. The only difference between the various brands will be how much money you’re spending, and possibly how many VIP amenities your dealer provides.
Jumping up to an exotic car, though? That’s a prancing horse of a different color.
Exotic cars are made by brands like Ferrari, Aston Martin, Lamborghini, McLaren, and Koenigsegg. These companies sell supercars. Built to race and look cool while doing it, these models earned their hype with serious performance. But these companies don’t just sell supercars; they sell prestige. In order to maintain that prestige, they make owning a model an exclusive experience. As such, you’ll have some hoops to jump through.
While this guide won’t get into the weeds of the specifics (if you have the money to actually consider that, you can hire a personal expert to walk you through it), it will go over some of the key hurdles that stand between prospective drivers and their supercars. If you think you might get an exotic one day, these are some things to consider. If not, this will be a look at the other side of the tracks, and perhaps some reasons to count your blessings for the relative simplicity of the ordinary car-buying experience.
Money (Lots)
It’s no secret that these cars are very, very expensive. The entry-level models in this segment cost hundreds of thousands of dollars, and many prices can easily enter seven figures.
Before you even start looking at particular models or brands, you have to figure out how much you’re willing to pay for a supercar. Once you’ve picked a number, you can start browsing online, and a magic trick of sorts will have taken place. The budget that looked so big when you wrote it down probably looks quite small indeed when compared against the prices of exotic cars from the likes of Ferrari, McLaren, and Koenigsegg.
Research
If your number does seem like it will cover the cost, you’re doing well so far! Now it’s time to actually pick a model. Just like buying a normal car, the Internet is very useful for this part of the process, since you can compare your options from the comfort of home. Be sure that you like every last detail of the model you choose, from the included features to the color. As we’ll get to later on, you’re going to be fully committing to whatever you pick—although most of these manufacturers offer custom build options where you can customize every detail you want.
Negotiating Skills
Now, it’s time to head to the dealership and make an offer. As with a regular car purchase, this is also when you can test drive and inspect the vehicle to make sure it lives up to your expectations. If it passes muster, offer something reasonable (know the market value before you go) but a bit below your budget. From there, you’ll negotiate with the salesperson until you agree on a price.
From this point, buying a normal car is just a matter of figuring out the financing and signing the forms, but there’s an extra step here for most exotics: you’ll have to pass a background check. These prestigious brands are very particular about who they sell to, so make sure you don’t have any skeletons lurking in your closet. If you pass the test, then you are now eligible to…make a reservation.
Patience
Yes, for many of these vehicles, you can’t drive home in the model you’re willing to pay for right away. Instead, you’ll put down a deposit to earn a place on the waitlist. How long you wait can depend on many factors, from how high up you actually are on the list in terms of “first-come, first-served” to how much of a valued customer you already are to the brand (good luck if you’re a first-timer). But if you’re lucky, then after a while, you’ll finally be the proud owner of an exotic car.
Commitment
Now comes the part where you have to own an exotic car! This is its own commitment as these finely-tuned machines are notoriously expensive and time-consuming to maintain. Unless you’re just going to be storing it in a collection (which many exotic car owners do—very few of these machines see a lot of miles), you’ll need to keep that in mind. Since prestige is half the reason to buy one of these cars, you’ll want to avoid scratches like the plague, on top of keeping the engine, transmission, etc, in good working order.
And if you want to be considered for another supercar in the future, you’ll need to heed the fine print of your contract. For example, “flipping” one of these cars is a major faux pas in the community. Resell too early and you’ll be an outcast. These companies also essentially turn their customers into brand ambassadors who are required to keep up the image, which means no unapproved alterations, from the engine to the paint.
For a Special Edition? Connections & Luck
As with almost all things, exotic cars exist on a spectrum. While cars like the roughly $200k Aston Martin Vantage feel incredibly out of reach to the vast majority of drivers, they’re considered “entry-level” exotics to the people who sell, drive, and aspire to own the true crème de la crème of the supercar world. If you’re looking to get a rare special edition from a big-name exotic automaker like Pagani, Bugatti, or McLaren, you’re going to have to be on “the list.”
When prestigious brands like these put out a limited run of cars, it’s essentially an invite-only affair. The company will look through its golden rolodex of premium clients and decide to whom they want to grant the honor of paying millions of dollars for the automotive equivalent of a Birkin Bag. In order to keep demand up, manufacturers will make sure that the number of cars produced is far less than the number of serious buyers interested in them. Even being on the preliminary list will never be enough to get you the prize.
If you don’t make it onto the final list, complaints will get you nowhere. After all, the company you’ll be complaining about is the very gatekeeper holding the keys to the next special edition. Getting on their bad side is basically a surefire way to stay off the list forever.
Of course, if you’ve made it to the point where you’re even being considered for such a prestigious car, then you’ve truly made it to the top. You’ve probably already purchased several supercars and are looking for a feather to put in the cap of an already vast collection. Still, it’s nice to dream, isn’t it?
Think You Have What It Takes?
If nothing in this article made you think twice about your plans to own a supercar, then it’s time to get your budget together and start contacting dealers. Best of luck with the lengthy journey ahead! If you don’t think you have everything it takes to own one of these marvels of engineering, don’t worry. You’re in good company with the rest of us! If you admire these vehicles, then look for upcoming auto shows in your area where you can see exotics up close without having to make it through the gauntlet of obtaining one for yourself.
