What is the true cost of ownership of an exotic car?. The cost of ownership can vary tremendously between Ferrari, Porsche, Aston Martin and Lamborghini. An article to know what you are going to get into down the road, might be helpful before making your choice.
When buying an exotic, many factors come to play. From the insurance to the cost of an oil change, it is not easy to determine true cost of ownership. I will take you step by step through some important information regarding the various costs associated with buying an exotic car.
Most Ferrari owners will agree that maintaining a Ferrari can be one expensive task. One key item to consider is that the older the Ferrari model, the more expensive, the more it is to maintain. A typical oil change on a Ferrari F430 will run you $500, and about $800 for a Ferrari F360 Modena, or $1100 for a Ferrari F355. This typical oil change needs to occur every 5000 miles or once a year, since most owners don’t drive their cars 5000 miles a year. Other typical maintenance items include spark plugs at an average of $3000, belts every 15000 miles at an average of $4000 and finally the mother of all maintenance repairs the clutch which will be about $2500 for a 6 speed transmission and $6500 for the F-1 clutch. That makes the Ferrari one expensive machine to own but remember many owners will tell you that you shouldn’t own one if cost of ownership is something you must think of.
Next up is the Lamborghini line which is divided into two segments, the Gallardo and the Murcielago. Both amazing machines are quite expensive to maintain and the Lamborghini cost of ownership is not be taken lightly. The Murcielago will run you about $2000 for an oil change, $4000 for plugs and the best part $12000 for an E-Gear Clutch. The Gallardo on the other hand is more docile and similar to the Ferrari 360 Modena at just $400 for an oil change, $2000 for plugs and finally about $3500 for an E-Gear clutch. The Lamborghini maintenance ranges heavily based on the line you select and should not be taken lightly as the cost of new transmission could cost you $50,000 if a replacement is needed and lets not even talk about the engine failing. Despite using Audi based parts, Lamborghini does a great job at making you pay big bucks for parts so don’t take a chance.
We now can look at the Aston Martin line for cost of ownership which again can be expensive cars to maintain. Aston Martin maintenance is one of my favorites as we discussed earlier in our “Aston or Volvo” articles, the Aston Vantage is built off of the Ford line, it has relatively easy fixes and most parts are easily accessible for repairs. The maintenance is quite painless at $200 oil changes, $200 belt changes and a wonderful clutch at $2500. Do not be fooled by the fact that these numbers are only typical of the Vantage and not the DB9 or Vanquish which will cost you about $800 for an oil change and about $5000 for an E Gear clutch. The maintenance is quite important on the Vanquish as horror stories are heard of transmissions costing upwards of $80,000 if needing replacement.
Finally, we now come to the least expensive and most reliable exotic on the planet. The Porsche 911 Turbo is the most ordinary car to maintain, just about on the same level than Mercedes AMG models or a BMW M models, the cost of ownership of a Porsche 911 Turbo is about $300 for an oil change, $900 for spark plugs and finally about $2000 for a clutch.
So to wrap up, please keep in mind that exotics cost more than a payment and need to be maintained properly in order to run properly and not cause some serious horror stories. So please don’t buy your first exotic to be stuck without the ability to change its oil. True cost of ownership of an exotic car is now defined for you. You don’t have to guess, and remember that finding a great independent shop that specializes in your make and model will save you a lot of money over your dealer especially if you car is out of warranty.
June 8th, 2009 at 6:38 pm
Hey, nice post, really well written. You should post more about this.
August 25th, 2009 at 1:01 pm
Nice heads up on exotic car repair costs. I think most of the rich who gets these cars got plenty of money for their repair and maintenance. Too bad for those rich wanna be who bought these expensive cars and don’t realize how much they need to spend on repairs and maintenance alone…
September 10th, 2009 at 7:48 pm
what about the bentley gt is there a article on that vehicle?
September 11th, 2009 at 7:41 pm
A bentley GT costs just about the same to maintain as an Aston martin vantage. The bentley Arnage is in Lamborghini territory when it comes to the cost of maintenence
September 23rd, 2009 at 12:39 am
yikes i really had my heart set on a gallardo , the recession has some of these coupes with low miles for around 85k-99k .
the regular luxury vehicles kill you but with depreciation my brothers navigator was 85k cdn new a 3 years ago now looking at 24k , my buddy got a cl 65 amg tuned to 815hp 900ftlb of torque for 180k now they going for 60k range rovers , porsche cayenne turbos all horribly depreciated as well.
if you keep buying new vehicles does it any way equate with gallardo ownership if your eating 10-20k alone in annual depreciation? especially when the gallardos seem to be bottoming out in terms of depreciation.
i was also told that the insurance isnt bad for exotics up where i live because of course we only bring them out a during summer in canada i dont know what truth there is to that.
also does anyone know about the audi r8’s cost of ownership ? it looks like a it would be cheaper than a gallardo but they are both exotics
lol damn **bites nails**
September 24th, 2009 at 5:23 pm
Personally, I would never buy a new vehicle. Especially when it comes to new models. First year production cars always have a few glitches here and there that need to be sorted out. The minute you drive off a lot a new exotic you’re losing $10-20k if not more sometimes.
I think the Gallardo has bottomed out. There are a few that have gone for cheap but simply because they are salvaged, extremely high miles, or no record cars. If you’re going to purchase an exotic, you might as well drive it as much as you can because at the end of the day, the resale value has already tanked.
Insurance isn’t bad. Shop around. We pay less than $2000 a year. Under 30, clean record, no tickets or accidents. Your mileage may vary of course.
Audi R8 should be a little less than a Lamborghini to service. It’s simply using the Gallardo chassis but RS4 motor and regular Audi components inside and out. Expect the current R8 to drop below $100k because of the new R8 V10 coming out.
October 20th, 2009 at 11:58 am
Great article, I’m looking at getting an 06 Vantage. They run under 70k now. Do you have any advice on whether an 06 Vantage is likely to have more or less issues than a comparable 911?
October 20th, 2009 at 9:06 pm
The Vantage is more likely to break and not wit stand abuse like the 911 can. Its an under performer but a great looking ride. Stay away from vantages in the 60’s…most have issues, look for a clean 07 in the low to mid 70s and you ll get a really clean car
January 13th, 2010 at 9:04 pm
Buying an exotic car has never been cheaper, the cost of ownership of an exotic car has since one down as the market has forced many shops to reduce their prices.
January 28th, 2010 at 4:05 pm
Does the R8 fall under the AMG / M’s category in terms of maintainance cost or Lambo / Ferrari? Also curious about Maserati Granturismo S.
January 28th, 2010 at 6:32 pm
Maserati and R8 both fall under AMG money for maintenance other than for the clutch, which will cost under 5K
January 29th, 2010 at 9:30 am
Sweet, thanks for the quick reply! Found your web searching for maintenance cost for some of these vehicles. You got some nice articles in here…keep it up!
oh, you should also consider writing on ‘car clubs’ (i.e. Vulcan, Gotham etc.) as you don’t have to go through the headache of maintaining such exotic cars which you will barely drive 2k miles a year. Rather own AMG / M or the like, as it could be used daily or on weekends and yet not cost arm and leg to get quick fixes. But then again, if you’re making good $$$, the exotics maintenance will be pennies to a dollar
P.S I’m not a member of any of those clubs but contemplating them as the economy gets better (which really isn’t) :/
January 30th, 2010 at 12:49 am
Thanks for the kind words Aaron, I will write about those clubs next month.
Those clubs on a quick note though are not worth it at all.
Tune in next month to find out why
March 1st, 2010 at 12:01 pm
@The Don
I did a lot of marketing preparation for an exotic car share club that was opening in Florida about three years ago. In the end, they decided to suspend operations because the profit margins are so low for these clubs.
But after delving into all the financial data (as I was helping them with their marketing materials and website) and having tons of conversations with the guys that were starting it, the car clubs definitely fill a need.
While there is no equity involved, depreciation or a trip to the dealer alone could eclipse the cost of joining a car club. I make just at $100K a year, and I could’ve joined this car club and had the cars a few times a month for under $1000. This is chump change, and I would’ve joined had they not stopped operations. The most expensive plans gave people the car 10 times a month – who the hell even drives their exotic 10 times a month? I have an 08 BMW Z4 SMG as a daily driver and it is a never-ending battle to keep it clean and keep it running, and it is NOTHING compared to an exotic. I know a guy that owns a software company that has a Gallardo and he doesn’t even drive it, he just “looks at it” or ships it to different locations when he is on vacation, mainly because he said the E-gear is so shitty that he “burned his last one out in a month.” I just think your blanket statement “not worth it at all” as a precursor to your article is a bit unfair, because I can give you about 100 reasons why it would be a good idea for some people. The biggest problem that the company found was that the people that wanted to join were really only interested in the sedans and didn’t care about the sports cars, and the Phantom was the number one choice… there was no way they were going to go buy a fleet of Phantoms. So I think people are very lucky if there is a car club near them. Gotham and Manhattan Car Club I know are VERY client-centric – they keep beautiful specimens and turn them around constantly to keep the best cars in stock. They have tons of clients because they know what they want and at this point they don’t even have to “sell” people on their idea – it just makes sense if you don’t have endless time or resources to screw with your exotic, or if you don’t want to pay over retail for one or eat the depreciation or the massive interest associated with payments. I for one have been so busy with my job that I haven’t gotten an oil change since November because the BMW dealer keeps it overnight. My closest exotic dealer is 4 hours away in FL – imagine how awful this would be – I don’t know how anyone owns these things unless they are INSANELY rich, but no amount of money can void the hassle associates with the cars if you are an owner. An enterprising business can even write-off the expense of a car club as a perk for officers, but try writing-off the expense of a “company Ferrari.”
March 1st, 2010 at 8:46 pm
Shane that’s not necessarily true…The idea of this site is exactly to make sure that people delete the perception from their head that you must be insanely rich to drive these cars…I get paid close to 17K a year to drive my cars, and don’t worry about the hassles of maintenance. I dont consider myself extremely rich, but rather well off…
Keep checking back as I post more on how I am able to do that
March 24th, 2010 at 9:19 am
I really like your articles. My question is what is the best mileage to buy an exotic car, for example a gallardo?
March 24th, 2010 at 9:02 pm
Jean, I would say buy a Gallardo right between 8-12K miles as this will be the best value for your money
April 27th, 2010 at 3:56 pm
What about doing your own mataince? I would never pay that much for an oil change even though i could. Is it that tough to change the oil on an exotic or the plugs? I am shopping around for a 360 and plan on driving it more than 5000 per year. i might as well buy a high milage car correct.
April 27th, 2010 at 10:32 pm
I wouldn’t buy a high mileage car due to value and potential problems not usually experienced due to mileage.
You can do your own oil changes, I highly do not recommend it as you need the right tools and in the case of the 360, you will need significant equipment. If you are concerned with paying a $1000 for an oil change, you shouldn’t buy a ferrari.
May 10th, 2010 at 10:34 am
I purchased a new F360 F1 in 2002. Traded-in a 1998 F355 GTB. The 360 has been a wonderful car to own and drive. Actually, the service costs the first three years were not that high, more or less in line for an exotic. My dealer is very helpful and I’ve had the same Tech for 15 years! Great guy. I’ve NEVER paid $1000.00 for an oil change! Not even close! Yes, I’ve had a few bills in the three to five thousand range, but the highest included timing belts, brake pads, all fluids flushed and 4 new tires. Friends tell me my 360 has been so reliable because I drive it 3 to 4 days a week! Two round trips to Vermont, one to L.A. and many mountain drives. The car has 34K on it! All cars have issues but my 360 has had very few. A few day’s ago I noticed some fluid on the garage floor as I backed out. Anti-freeze! A friend has a lift in his garage so we put her up and found a number of problem areas. We pulled the seats and bulkhead out, removed the access pannel and there it was…leaky waterpump, cooked coolant hoses, plus two seeping cam seals. One call to T. Rutlands…all parts in stock and on the way. I’m doing the cambelts, rollers, tensioners, all seals, vcg’s, heat exchanger hoses, drive belts and all radiator hoses too. My buddy has the tools and experience and I really want to learn more about the workings of my car. A few Ferrari owner’s I know only open the engine cover to show off it’s beautiful heart, but won’t even check the oil level for fear of damaging something! To each their own, I guess!
May 16th, 2010 at 2:51 pm
Very informative!
I was thinking about a Modena but…….
July 17th, 2010 at 8:59 am
Very informative. I have my my on an Aston Martin Vantage ‘07 or DB9. I’m an engineer (but not car mechanics, but know a thing or 2 about 4stroke plane engines). My plan was to but the car and maintain it myself. How hard could it possibly be? Harder than rocket science? Surely not more difficult than a Cessna 172? How expensive can the tools be? If I keep the car forever, then the tools will be a perm investment?
July 28th, 2010 at 8:05 pm
Nice article!
I’m debating between a 2008 GranTurismo or a 2004 Gallardo.
Which one would you recommend and what price and mileage should I be looking at?
July 29th, 2010 at 6:51 am
2008 Gran turismo is going to be a better car for the money under 3 factors. Clean 07-08 low mileage (under 10K) low 70’s
-Newer
-Under warranty
-No clutch jobs
2004 Gallardo is going to be better in resale is you pick the right example and it dont cost you 5 figures in expenses by the time you sell her. Clean 04 with 10k miles 80-83K, and get a 6 speed.
Which ever car you choose, make sure to get a detailed PPI prior to purchase