How to Afford a Supercar – A Detailed Look at Buying a Supercar

How to Afford a Supercar

If you’re a car enthusiast, owning a supercar might be a dream; however, what you should really focus on is how to afford a supercar in the first place.

Luckily, we have the answer to this and other questions you might have.

Even if you’re not a car enthusiast, the appeal of a supercar is hard to deny. The love for supercars is also universal and whether you’re in New York, London, Tokyo or even Berlin, you will find that supercars and supercar enthusiasts are everywhere!

It’s the Age of the Supercar

Today, almost anyone who can afford one makes sure that they have a supercar in their garage. Called the thoroughbreds of the car world, these vehicles are definitely a breed apart from the average car. In the past, owning supercars was only restricted for movie stars, football players, celebrities, and high profile individuals.

Luckily, the days of supercars being only available to one margin of society are long gone. Almost anyone can get a supercar nowadays (within reason). It’s common to see people who earn a comfortable salary, get one.

Plus, owning a supercar doesn’t have to be a spur of the moment decision or because of a mid-life crisis. Many young people are buying supercars. The introduction of influencers and pages, like Rich Kids of the Internet, has made supercars a more common feat.

Supercars are still commonly seen with celebrities, singers, rappers, and influencers. However, doctors, CEO’s and other individuals who have high paying professions are getting supercars too!

The Right Supercar Can Be an Investment

Not everyone is getting supercars to show them off either. A supercar, like any other car, is a depreciating asset but if you pick the right make and model, you can actually invest your money wisely.

If you bought a Ferrari like the F355 Berlinetta in 1997 for around $44,000, the car will now be worth a lot more. Even the manual version will cost around $99,500 to $102,000. That is actually a great return on investment.

However, before you even consider this option, you need to figure out the following two things:

  • How can you get a supercar for yourself?
  • With your budget, how can you afford a supercar?
You need to know where to get a supercar because they’re not going to be available at a normal car dealership

How Can You Get a Supercar?

Buying a supercar isn’t difficult anymore. You no longer need to be part of an exclusive circle to get access to these beautiful vehicles. However, you still need to pay attention to where you’re getting them from. It can make all the difference in your ownership experience.

The following two options are the best ones you can rely on when you want to get a supercar.

1. Working with Lenders

Lenders are a great alternative to actually owning a supercar. Lending means that you’re going to be borrowing the supercar for a short time being. However, don’t expect to get a brand new supercar. You’re going to be getting preowned supercars. You will also have a lease for a fixed, short time period for the supercar.

It gives you a good idea about the kind of expenses you can expect to shoulder if you actually own one. Many influencers also choose to lease supercars, especially when they only need them for a temporary basis. Additionally, you won’t have to worry about the depreciating value of this car.

The headache of selling it also falls solely on the shoulders of the lender company. All you have to do is return the car once your lease period is over. Keep in mind that you might have to pay a bigger security deposit because it is a supercar after all.

Luckily, your monthly payments will be more affordable. Remember to work with a reputable lender. Also, remember that the more exotic the supercar, the higher the payments you can expect.

2. Working with the Brand Showrooms

If you’re sure about getting a supercar, you can skip going to the lender and just head over to a brand showroom. Lending cars is only good for short term purposes. Over time, the expense of leasing a car really adds up. You will find that you actually save more by buying a supercar.

Most of the showrooms will be near your location and they are more than happy to help you get the supercar of your dreams. Many people are afraid to work with brand showrooms but they’re actually very accommodating. Remember that supercar brands are giving their clients a luxury experience from start to finish.

They’re going to be as helpful and accommodating as you need them to be. Don’t be shy of asking about payment plans. No one heads over to these showrooms with a large bag of money anymore. Even the showrooms don’t expect you to make payments of $200k in cash in just one go.

More people are being smarter about their resources. It’s a good idea to be prudent when shopping for supercars like any other commodity. If you’re being smart about it, you can get a feasible payment plan. This will make it easier for you to afford a supercar.

How to Afford a Supercar

Now that you’ve figured out how you can get a supercar, you need to focus on how to afford a supercar. In this case, you’re going to have to take a closer look at your finances and the kind of expenditures you can expect. Owning a supercar is not easy on the pocket at all. 

Affording a supercar can be a bit complicated but you need to consider all the expenses

In fact, it takes a fortune to buy one and a fortune to maintain it! It is also a depreciating asset but the kind of care it requires can go a long way to preserve the quality. If you’re getting a supercar, you need to make sure that you are able to maintain it properly.

Additionally, a general rule of thumb about getting a car is that you should get one which is half the value of your income. So, if you’re making $50,000 on an annual basis, your car should cost around $25,000 or lower.

However, just how much would it cost you and what kind of expense will you have to shoulder here? Take a look at the following scenario:

Owning a Lamborghini – A Hypothetical Situation

To give you a better understanding of the budgeting you will need and to work out how to afford a supercar, we’re going to pretend that we’re looking to buy a Lamborghini. The cheapest two options include:

To be prudent, we’re going to go with the Huracán. But, that’s not the only cost here. You also have to pay the price for the trim package. So, a mid-tier trim package like the LP 610-4 will push the overall cost of the car to $237,250.

Now, before you can sign the deal, you also have to consider other costs associated with the Huracán such as:

  • Oil changes – $400
  • Tire set – $1,500

Adding this amount to the total cost brings it up to $239,150. That’s not too costly, right? But there are still more expenses that you need to add in here.

Other Expenses Associated with Owning a Supercar

The following are the biggest expenses that you need to consider before you buy a supercar. This is to make sure that you are able to afford a supercar without any worries:

Cost for Repairs of the Car

Always make sure that you have a supercar rainy-day fund. This is for any repairs that the car might need. No matter how well you look after a supercar, accidents can happen and it is best to be prepared for them.

These accidents can range from just being minor scratches and dents to extensive frame damage caused by a car accident. Remember that supercars are designed more for show. They’re extremely vulnerable, especially in a head-on collision.

Most owners of supercars say that a rainy-day repair fund should be a minimum of $15,000. This fund should be kept aside for any unexpected expenses, including car repairs. We’re going to add this to the total cost as well.

Renting Costs for Garages and Parking

If you get a supercar in a busy city like New York, London or even Tokyo, one of the biggest issues will be to secure parking space. Most owners who don’t have their own spaces have to rent a garage just for this reason.

Leaving your supercar outdoors is sacrilege. It’s almost unheard off and extremely negligent behavior. As an owner of a supercar, you are responsible for looking after this asset. Most people aren’t afraid of stealing such a car, especially if you’re leaving it outdoors.

So, if you don’t already have an apartment or a home with a garage space, you may have to rent one. The following are the cost per month of renting garages in these cities:

  • New York – $100 to $1,000 per month – Annual expenditure – $1,200 to $12,000
  • London – £100 to £500 per month – Annual expenditure – £1000 to £6000
  • Tokyo – ¥20,000 to ¥40,000 per month – Annual expenditure – ¥240,000 to ¥480,000

It’s possible to buy a garage too but that means an expense of $30,000 to $70,000. However, for some people, that’s a better option than renting one. We’re going to add the annual expenditure of parking in New York to our total.

What’s the Total Cost Now?

After taking a look at these additional costs, it’s obvious that you have more expenses to consider now. If we calculate the cost of our Huracán by adding in the repair fund and parking costs, you’re looking at a grand total of $266,150. This is a huge chunk of your income, dedicated just to a supercar.

The rental cost of $12,000 for the parking spot will be a fixed one. This can increase over the years as the cost of living rises too. Given this factor, you have to make sure that you have the necessary funds to meet this expense. If you don’t have a 6 or 7 figure income, you might find it very difficult to buy and maintain a supercar with ease.

The Maintenance Cost Differences of Supercars Based on the Brand

The cost of maintenance of supercars can differ based on the brand and model of the car

We’ve already mentioned that maintenance costs need to be considered, especially when you’re calculating how to afford a supercar. But did you know that the brand, make and even the year of the car model makes a difference here?

To give you a rough idea, we’re going to do a rough break down of the maintenance costs associated with supercars of different brands.

1. Lamborghini – A Delicate Beauty

A Lamborghini is a supercar which turns heads and makes sure that all eyes are on you. It’s difficult to maintain such beauty in a pocket-friendly manner. The Gallardo and Murciélago models are dated but still remain the most popular. For them, you have to consider the following maintenance expenses:

Lamborghini Car models Oil Change (After 5,000 miles) Spark Plugs Clutch Repair Transmission Repair Insurance (Annual) Total Cost
Gallardo $400 $2,000 $3,500 $50,000 $200,000 $255,900
Murciélago $2,000 $4,000 $12,000 $50,000 $200,000 $268,000

As you can see, there is a price difference in the maintenance of both these cars. However, maintaining a Lamborghini can cost just as much as buying one. In these prices, you can buy a brand new Lamborghini Huracán.

2. Ferrari – Built for Speed

Apart from Lamborghini, Ferrari is the biggest supercar brand. Their cars have the best horsepower engines, unmatched by others. The iconic status of Ferrari F-355 and Ferrari F-430 makes them fairly expensive. Their maintenance costs surely reflect this fact:

Ferrari Car Models Oil Change (After 5,000 miles) Spark Plugs Clutch Repair Belts
(After 15,000 miles)
Insurance (Annual) Total Cost
F-430 $500 $3,000 $2,500 $4,000 $100,000 $110,000
F-355 $1,100 $3,000 $6,500 $4,000 $100,000 $114,600

While the cost of these Ferrari models is definitely lower than the cost of the Lamborghini’s in our example, you have to remember that the cost differs from model to model. Some high-end Ferrari supercars can cost more than a Lamborghini to maintain while others fall into this cost bracket.

3. Porsche – Synonymous with Sophistication

Porsche is a brand which embodies sophistication. However, the average Porsche car isn’t as delicate as a Lamborghini or as fiercely powerful as a Ferrari. Furthermore, maintenance costs of most Porsche models are more affordable. Unlike other supercars, maintaining a Porsche is as costly as maintaining cars from the Mercedes AMG series or the BMW M series.

Porsche Car Model Oil Change (After 5,000 miles)Spark PlugsClutch RepairBelts
(After 15,000 miles)
Insurance (Annual)Total Cost
Low to Mid Range$300$900$2,000$185 – $200$2,700$6,100

Before you start getting too overjoyed, remember that this price is only for the low to mid-range supercar models of Porsche. If you opt for a more high-end model, the maintenance cost can be just as high as a low-tier Lamborghini or a Ferrari.

The Major Challenges of Owning a Supercar

Once you’ve worked out how to afford a supercar based on your income, don’t be too quick to buy one. We’ve already shown you the maintenance costs but we also want you to consider the challenges that come with owning one.

Owning a supercar can be pretty challenging if you don’t know what it means to have one

It’s no surprise that a supercar is a very high maintenance car and presents a number of challenges for the owner. In fact, first-time car owners should never opt for a supercar, even if they have the means to own one. That’s because if they aren’t ready to own one, the car can turn into a white elephant.

The following are some of the major challenges you can face when you own a supercar.

1. Not Suited for Most Roads

Very few supercars are suited for use on normal roads. The low chassis of the car body means that ground clearance is always an issue. Be very careful because even the smallest speed breaker can damage the supercar. Lamborghini cars, in particular, are known for having low ground clearance.

Since these cars are built for speed and aesthetics, their aerodynamics are focused more on keeping the cars centered on the road. So, if you live in a place with potholes, speed bumps, and neglected roads, you can’t drive your supercar around.

3. Too Much Power for Normal Roads

Supercars are designed with insane amounts of horsepower. Some Ferrari cars such as the Ferrari LaFerrari Aperta has an engine which delivers 950 hp. Ask yourself if you would ever need such horsepower. Furthermore, are the roads around you designed to accommodate a vehicle with such strength?

Unless you want to keep the supercar indoors at all times, it’s not worth the high price tag, maintenance costs, and other expenses. It’s better to get a supercar which you can actually drive and control.

4. Repairs Can Cost a Fortune

Even if you get a low-range supercar, repairs to it can be extremely expensive. Remember that these repairs aren’t going to be as small or as affordable as your average car. It’s going to be a huge lump sum and if you aren’t prepared, it can be a huge hit on your wallet.

Additionally, repairs for supercars aren’t simple or done within a few hours. Based on the kind of damage done, repairs can take weeks or even months before your car is given back to you. Plus, not all garages are equipped to handle supercars so you will have to make sure that you have the right professionals near you.

5. Not Always Comfortable

Supercars are designed to be small, compact, and sleek. While they look stunning, this means that these cars often sacrifice their interior space. Few supercars are designed for four people and most are just for two. Even then, legroom can be cramped and it’s not going to be suited for very tall people.

Similarly, driving a supercar for long is not always a pleasurable experience for most. If you’re used to the wide-open and plush seats of sedans, the compact supercar can be a bit of an unpleasant surprise for you. Customizing the interior is a possibility but you will have to pay more for that.

6. Can Attract a Lot of Attention

A supercar will make you stand out from the crowd, turn heads and make everyone stop and stare. People are also going to take pictures with the car or just stand around it. Parking your car anywhere and leaving it unattended is not going to be a possibility, especially if you’re not back within a few minutes.

If you’re not a social person, the attention that the supercar attracts can become a headache, especially when you have to deal with requests for selfies, car history, and other details. On the plus side though, you get to bond with other people who own supercars and understand the headache they bring.

7. You Are Judged for Having a Supercar

People who own supercars are often judged by others so be ready for a bit of criticism

Most people tend to assume that anyone who owns a supercar is a jerk. Don’t be surprised, you might even have thought the same when you saw a supercar. Now, that you’re part of the same brotherhood, be ready to hear people be critical about you for no reason.

However, it’s your car. You worked hard, you saved up for it, you bought it, and you earned it. So don’t be scared of the judgments and enjoy the sense of pride you have. Plus, your supercar is for you so other people’s opinions should not worry you.

8. It’s Not a Casual Car

If you love going to a drive-through to grab a bite, you may want to skip your supercar. Food and drinks inside a supercar are a huge no-no. Most supercars are not designed with cup holders or other places to keep beverages.

Yes, James Bond had a mini-bar in his car but the average supercar is not meant to have these features. Accidentally spilling a saucy burger, ice-cream or soft drinks on the leather seats of the car is going to be expensive and difficult to clean up.

9. Keeping the Car Clean is a Nightmare

Have you ever seen a supercar with a film of dust on it? Supercars are kept in pristine condition and they’re shined, buffed and polished with love. Smudges are buffed off as quickly as they appear and you will never find a supercar with bird droppings on it.

Plus, you can’t take your supercar for cleaning to your nearest car wash. This car will require proper detailing, twice a year by a specialist. These quarterly detailing visits can cost you a minimal of $200 and go up to $1,000 or more.

With these challenges in mind, you need to really consider whether you are ready to get a supercar. At this point, the question shouldn’t be, “how to afford a supercar?” It should be, “Do you want to deal with the hassle of owning a supercar?”

The Most Affordable Supercars in the Market

Looking back to the maintenance cost comparisons, did you notice anything? The low cost of the Porsche shows something interesting – there are affordable supercars! These give you the same thrill, beauty, and luxury of a supercar but they have a more reasonable price tag.

Not all supercars are going to cost you millions, there are affordable options as well that you can go for.

So, if you’re finding yourself going over the budget on a supercar, it’s a good idea to take a look at these. The following are some of the best and most affordable supercars you can get in the market:

1. Acura NSX

Price: $156,000

The NSX delivers speed, performance, and luxury in one sleek package. The car engine can deliver 537 horsepower (hp) without any issues. While it’s an updated version of the Acura JDM, there’s little to no resemblance to the JDM. The NSX is definitely a more evolved car and might just become a new favorite in the world of supercars.

2. Chevrolet Corvette Z06

Price: $79,400

The Corvette has been renowned since it first came out. The Z06 offers a special blend of sports and muscle car mixed into one. It has a V8 engine which is supercharged to deliver 650 hp with no issues. The design of the car is also angular to cut through resistance and give you a smooth drive.

Get a blend of sports and muscle car in one with the Chevrolet Corvette Z06

3. Jaguar F-Type

Price: $125,950

Sleek and compact, the F-Type embodies all the timeless qualities of a Jaguar car. The F-Type packs a powerful V8 5.0 engine that is capable of giving 575 hp without any difficulties. The gorgeous, spacious interior is definitely a plus point. While it’s definitely not among the fastest supercars, the F-Type is striking enough to make heads turn and catch the attention of people.

4. Aston Martin Vantage

Price: $99,900

If it’s good enough for James Bond, it’s definitely great for you. The Aston Martin Vantage is breathtaking and just a look at it is sure to give you goosebumps. The seamless design, as well as the mix of luxury with speed and durability, makes the Vantage a very attractive buy. It doesn’t pack as much power as other supercars but it is definitely tougher than most with remarkable specifications.

Specifications for Aston Martin Vintage 2018 entail a mix of speed, luxury and durability.

5. Dodge Viper SRT

Price: $87,895

A unique mix of muscle and supercar, the Dodge Viper SRT is loved in both the world of muscle cars and supercars. The secret behind the power of this compact little beast is hidden in its V10, 8.4L engine. It’s also one of the most powerful engines that have been used by Dodge. With a smooth design, compact size, and immense power, this is a great supercar to get at this price range.

6. Mercedes AMG GT

Price: $133,600

Mercedes isn’t known for its supercars but AMG GT stands out because it combines luxury, comfort, and style. The AMG GT is not as flashy as other supercars and its hp capacity comes to a modest 456. However, it has loads of style, blends in well and can still make people stop and stare at its clean design. Plus, it packs a powerful V8, 4.0L engine under its hood which is definitely worth the cost. The specifications are impressive enough to definitely make you consider purchasing it.

Mercedes AMG GT 2016 specifications is a blend of speed, style and comfort.

Most people don’t think that any car under a million dollars is a supercar but the industry is constantly redefining this. As supercars are becoming more common, you’re going to find different brands and models with different price tags. Plus, remember that if you pick the right supercar, you won’t have to wonder about how to afford it. So don’t go broke for your car, remember your budget and find a supercar that fits it!