GregM

Would it be cheaper/easier to start an Exotic Car dealership or an exotic car rental dealership?

ShaqizPhat

You a millionaire? Cause you'll need several million to start either. If not, then stop wasting everyone's time.

latnok

Rental, not many can afford to buy an exotic car but are willing to rent one for a short period of time just for the heck of it.

glittiris

i started an exotic car rental dealership years ago and it failed miserably, every dirtbag in town would rent them and not want to return, sure you would put them in jail but you would never get any money for all the days they have the car, then you have to pay to get it out of the impound lot, which you would not recoupalso, these same dirtbags would over-run the cars and crash them, about every 2nd or 3rd rental, the insurance requirements are high and most insurance companies will not insure you so if somebody totals a car you will be stuck paying for the whole thingthe exotic car dealership is the same thing, cost lots, millions to do it right, you get a lot of jokers that want to test drive and they can't afford it and when you run their credit they have horrible scores and no money to put down, anybody that can afford one of those cars will have lots of cash to put down on it, like half at leastif you get stuck with cars sitting on the lot they depreciate every weeki recommend you steer clear of both dude, the car rental business cost me hundreds of thousands of dollars and never-ending stress in less than 2 years

Perplexed

If your concerned with "cheaper / easier", don't go into business. Your going to fail.If your interested in building a sustainable and scalable business for the long term and you don't have much capitol, then start with a used car format.Long hours and hard work is what it will take.Cheers.

mccoyblues

Well to start a rental fleet you'd have to buy all those cars and deal with all the upkeep and maintenance.If you sold them the bank would own the cars until they are sold. Of course purchasing the new car dealership rights to an exotic car brand would probably cost you millions of dollars. You'd have to build a dealership and you'd have to hire a service department full of mechanics.

TonyM8727

Wow! Lots of ignorant answers are on here!To open any car dealership you would need to bank to floor plan you. Meaning the lender will loan you the money to buy the cars and you have 30-90 days to sell them before you start making payments on them. Once you have a floor plan you will need to sell you inventory quickly so not to incur finance charges. The lender will want to see the facility you plan to use, a used car dealer license and where you plan to obtain inventory. The good thing is many it is easy to obtain financing for the higher end type cars, because the resale values are higher than the average cars, so you will be able to offer great 3rd party financing and leasing options for your customers.As far as offering rentals of the same type vehicles. You major problem will be insurance, as it will have to be a blanket policy to cover an age and income demographic which may not be fiscally viable depending on your location and market.Good Luck!