Exotic cars are those super fast sports cars that are rare and very expensive. We also call exotic cars those rare older cars that have powerful, top-of-the-line engines. When we say rare this means, only a limited number roll off factories. They only produce a few cars per model.
Only a few people are able to afford exotic model cars. Aside from money, you would need exceptional and advanced driving skills to be able to handle the kind of powerful engine that exotic cars have. This is the type of car that will garner open-mouthed stares when you drive on the streets.
The exotic car is often called an investment car. Just to purchase an exotic car would mean having to pay a premium price for it. Exotic cars have the best engine, the best paint job, the best accessories – investing in the best car there is would surely be a pricey and good investment.
- Most people believe that automobiles are not really good as an investment. You purchase the car, use it and its worth depreciates. However, exotic cars do not depreciate as quickly and a slow as ordinary cars. Sports cars retain an average of more than 50% of what they originally cost in a span of three years. The rarer and more exotic the car is, the lesser its depreciation value (sometimes falling only as low as 5-10% in a span of three years).
- High-end exotic cars have a tendency to be exempt from depreciation. Even now when the economy is in a slump, these high-end exotics are showing to be immune to the most recent recession.
- The high cost of maintaining this type of car means you have to chunk in a huge amount of money. Storing, maintenance and security costs of an exotic car will also create a large dent in your budget. You just can’t buy a Lamborghini and then park it on the street. Of course, you would need to have a secure facility to keep your exotic car and have the car routinely checked to maintain it.
- These amazingly fast cars with super-charged engines are difficult to insure. Not a lot of insurance companies are willing to insure exotic cars. Because of this, those automobile insurance companies are able to charge a higher amount for exotic car insurance. Some insurance companies charge about $300 a month to insure an exotic car.
It’s a bit difficult to ascertain the viability of exotic cars as good investments. However, the make and quality of the car is a good investment in itself. Having the best car in your garage that has the best engine is already a plus. The fact that no matter how old it is, it can still command a very good price in the market, is sign of how stable this type of investment is.
There may be a lot of objections and contentions as to the viability of having exotic cars as investment. Whatever these may be, this fact can’t change—exotic cars when stacked against an ordinary car, stand out and make one proud owner.