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How to Buy Cheap Exotic Rental Cars: Values You Can’t Lose On
If you are looking to buy a high end sports cars or expensive luxury sedan, exotic rental cars may offer you a way to save a lot of money. Buying rental cars is not for everyone. However, if you are willing to do some research and due diligence, then you could save yourself a bundle versus buying a new exotic car. So, here is a step-by-step guide to show you how to buy cheap exotic rental cars.
What You Will Need
- An Internet connected computer
- Pre-arranged car financing or cash
- Good research skills
Step 1 – Find Used Exotic Rental Cars for Sale
First, you need to find rental car companies that have exotic cars they may be willing to sell. Not all rental car agencies offer exotic vehicles to customers. So, you’ll probably need to do some research on the Internet to find companies that do. Some major rental car companies offer exotic cars in major markets, such as Los Angeles or New York. Other companies specialize in exotic car rentals. However, they may only be willing to sell vehicles that are older or have many miles on them.
Step 2 – Compare Prices
Once you have found a few exotic cars that interest you, take the time to compare the prices offered by the different rental agencies as well as the condition and mileage of all the vehicles you are considering.
Step 3 – Select a Car
Choose the exotic car you feel offers the most in terms of value as well as the one you feel will be the most reliable. You can visit websites that offer reviews on exotic cars to make a more informed decision about which vehicle may cost you the least in terms of future maintenance and repairs.
Step 4 – Have the Car Inspected
Because exotic rental cars have been driven by many different drivers, you will want to ensure you have the vehicle inspected by a qualified mechanic before you buy it. Having an exotic car inspected by a qualified mechanic may cost you several hundred dollars. However, you never want to buy a used exotic car without an inspection.
Step 5 – Arrange Financing
The car rental agency will probably require cash or cashier’s check before they release the vehicle to you. Also, they won’t be able to help you with financing, so, you’ll need to arrange your own with a bank or car loan lender.
Step 6 – Check with Your Insurance Company
You should also contact your car insurance company and inform them you want to purchase an exotic car. Even though you may have car insurance that will cover a new car purchase, the value of the exotic car may exceed the limits on your car insurance policy. So, make sure you contact your car insurance agent and ask them how you should proceed about insuring the exotic car purchase.
Step 7 – Buy the Exotic Car
Once you have financing and insurance taken care of, visit the car rental agency and present them with a check for the purchase amount of the vehicle. You can then drive the exotic car home or contract with a transport company if the vehicle is far away from your location.
