Beyond the initial six to seven figure number, you’ve got to consider the down payment, financing, crate shipping (most supercars are out of country), insurance, and maintenance. Let’s take a look at the cost of supercar ownership from the standpoint of five of the most expensive to own.
The price of admission for a Ferrari V12 with a five year loan (10% APR) is $665,000. That’s nearly $150,000 over sticker!
The ultra popular Mercedes McLaren SLR starts at a base price of $534,485. The $2,700 monthly insurance premiums added to its 10% APR rate, quickly escalate this purchase to $700,000.
Financed over a five year period at a 10% APR, the ultra elite Maybach Landaulet costs around $1.8 million.
The monthly payment on a Bugatti 16.4 is around $24,000 with a 5 year loan (10% APR). Insurance premiums will be tipping the scale at $2,600 per month.
The Veyron Super Sport tops this list at $2.2 million dollars. To begin the process of Bugatti ownership, you will need a $360,000 down payment, which will be wired directly to the Bugatti bank in France. During this process, a French security firm will begin a background check, making sure you’re good for the remaining $1.8 mil. A $40,000 delivery charge is also collected. Once all the taxes, fees, and other yellow tape have been cut through, you’ll be looking at closer to $2.6 mil
Unless you’ve got over $2 million in a sock drawer, you’re going to need to finance this purchase over the next five years at a 10% APR. Monthly payments at this rate will be around $42,000, give or take. The insurance premium will cost over $3,000 a month for a car of this caliber. You could always lease the Bugatti, but the rules restrict the leasee from driving the car over 2,500 miles/year. For every mile past this number, a rather nasty penalty is imposed for driver’s insolence, so you might as well stick with a loan.
Your going to have to keep the car at tip top shape, which means regular maintenance schedules. Expect around $30,000 a year, which includes oil and detailing (wash/wax). Every 10,000 miles, Bugatti recommends the wheels and tires are completely replaced at an average cost of $50,000. You’re also going to need petrol at $7,000/year. Veyron’s don’t do well in driveways, so Bugatti recommends a high security garage, complete with a state of the art climate control system. All in all, $300,000/year for maintenance is likely.
Add everything up, and $3.3 million for the privilege of owning a Veyron Super Sport for a period of five years should be considered a steal!